Computerized Physician Order Entry Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Computerized Physician Order Entry Market Shape Industry Trends by 2034?
The market size for computerized physician order entry has seen considerable growth in recent years. The market is forecasted to increase from $2.08 billion in 2024 to $2.27 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.5%. This surge during the historic phase could be due to the escalated adoption of electronic health records (EHR) systems, government-led drives and incentives for digitalization in healthcare, heightened focus on lessening medication inaccuracies and enhancing patient safety, increased necessity for precise and efficient order direction in healthcare establishments, and enhanced demand for better healthcare workflow and organizational effectiveness.
In the upcoming years, the market size for computerized physician order entry is projected to experience considerable growth, culminating in a value of $3.23 billion by 2029, showing a compound annual growth rate (CAGR) of 9.2%. This predicted growth during the forecasted period is linked to factors such as the ongoing expansion of value-focused care models and accountable care organizations, a rise in personalized medicine and precision healthcare initiatives, the development of interoperability standards across health IT systems, an increased emphasis on patient-centric care and engagement tools, and sustained cybersecurity investments to safeguard healthcare data. Key trends forecasted for this period encompass the incorporation of artificial intelligence, the utilization of cloud-based CPOE solutions, application of machine learning algorithms, provision of mobile and distant access for physicians, a dedicated focus on cybersecurity protocols, and the creation of sophisticated user interfaces and voice recognition technology.
What Are the Primary Drivers Supporting the Growth of the Computerized Physician Order Entry Market?
The escalation in occurrences of medication mistakes is likely to fuel the expansion of the computerized physician order entry market. Medication errors, which refer to bungles in prescribing, dispensing, or administering drugs that might cause harm to patients, have been on the rise due to reasons like miscommunication among medical practitioners, miscalculated dosages, identical drug nomenclatures, and insufficient patient data. The computerized physician order entry (CPOE) system mitigates these errors by offering automated checks and warnings, ensuring precise drug prescriptions, and reducing manual data entry errors. For example, data from the World Health Organization revealed that in September 2022, medication errors cost one nation $2.16 billion, equivalent to 3% of its entire healthcare expenditure. Moreover, there are approximately 237 million medication errors reported annually, with 66 million potentially having clinical significance. The estimated financial burden on the government due to preventable negative reactions to medication stands at $106.24 million annually. Hence, the surge in medication errors is driving the growth of the computerized physician order entry market.
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Who Are the Key Market Players Influencing the Growth of the Computerized Physician Order Entry Industry?
Major companies operating in the computerized physician order entry market are UnitedHealth Group, McKesson Corporation, Kaiser Permanente, International Business Machines Corp (IBM), Siemens Healthineers, Philips Healthcare Inc., GE HealthCare Technologies Inc., Epic Systems Corporation, Athenahealth Inc., eClinicalWorks LLC, Allscripts Healthcare Solutions Inc., NextGen Healthcare, Medical Information Technology Inc. (Meditech), Computer Programs and Systems Inc., Greenway Health LLC, CareCloud Inc., Medhost, Picis Clinical Solutions, CliniComp International Inc., Zynx Health Inc.
What Key Market Trends Are Shaping the Future of the Computerized Physician Order Entry Industry?
Leading companies in the computerized physician order entry market are turning to strategic collaborations to advance wireless and cloud technologies for handling high-volume tasks. Strategic collaborations involve businesses capitalizing on each other’s assets and strong points to reap mutual advantages and triumph. For instance, in August 2023, Microsoft Corporation, a technology company based in the US, joined hands with Epic Systems Corporation, a US-based healthcare software company. Their partnership aimed at delivering a cloud-based electronic health records (EHR) solution that greatly upgraded the functionalities of computerized physician order entry (CPOE) systems. The merger of Epic’s EHR with Microsoft Azure enables healthcare professionals to effectively manage substantial EHR database loads, thus ensuring immediate access to patient information and streamlining clinical procedures.
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What Are the Major Segments of the Computerized Physician Order Entry Market and Their Role in Driving Growth?
The computerized physician order entrymarket covered in this report is segmented –
1) By Type: Standalone Computerized Physician Order Entry (CPOE), Integrated Computerized Physician Order Entry (CPOE)
2) By Component: Hardware, Software, Services
3) By Deployment: Web-Based, Cloud-Based, On-Premise
4) By End User: Pharmacies, Hospitals, Emergency Healthcare Service Providers, Office-Based Physicians, Other End Users
Subsegments:
1) By Standalone Computerized Physician Order Entry (CPOE): Single-Function CPOE Systems, Specialty-Specific Standalone CPOE Solutions, Customizable Standalone CPOE Applications
2) By Integrated Computerized Physician Order Entry (CPOE): Fully Integrated EHR (Electronic Health Record) CPOE Systems, CPOE with Decision Support Systems (DSS), Integrated CPOE with Laboratory and Pharmacy Management Systems, Comprehensive Healthcare Management Systems With CPOE Functionality
Which Regions Are Emerging as Leaders in the Computerized Physician Order Entry Market?
North America was the largest region in the computerized physician order entry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the computerized physician order entry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Computerized Physician Order Entry Market Defined Across Different Regions?
Computerized physician order entry (CPOE) refers to an electronic system that allows healthcare providers to place orders for medications, tests, and other treatments directly into a digital system. Its use enhances the accuracy and efficiency of order processing, reduces errors associated with handwritten orders, and integrates seamlessly with other health information technology (IT) systems to support better clinical decision-making and patient care.
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