Global computerized physician order entry systems market is valued at USD 999.4 million in 2014 and is expected to grow at a CAGR of 6.8% from 2014 to 2020, to reach an estimated value of USD 1,481.7 million in 2020.
North America has the largest market for computerized physician order entry systems. This is due to government pressure for implementation of CPOE in healthcare facilities for reducing drug errors and high incidence of chronic diseases in this region. In Europe, healthcare spending in IT is increasing which expected to witness moderate growth in the region. In December 2012, the European Commission passed “2012-2020 eHealth Action Plan” which focused on the use of modern devices and technologies to promote personalized medicines in Europe. However, Asia has become one of the fastest-growing markets for computerized physician order entry systems market. Increase in aging population and increase in incident rates of various chronic diseases such as diabetes, heart disease, stroke, obesity, cancer and arthritis in various countries including Japan, China and India are expected to provide abundant opportunities to computerized physician order entry systems market.
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Based on the delivery mode, the global computerized physician order entry systems market is segmented into web based CPOE, on premise CPOE, and cloud based CPOE. On the basis of components, the market is segmented into software, hardware, and services, whereas by end-user, the market is segmented into hospital, pharmacy, and laboratory. Component segment is anticipated to attract major revenues during 2014-2020. Web based CPOE is the largest mode of delivery, whereas hospital will continue to form the largest segment among end-users of computerized physician order entry systems. Cloud based CPOE is the fastest growing mode of delivery and laboratory CPOE is the fastest growing end users of computerized physician order entry systems.
The regional analysis segments the global market into four key markets – North America (the U.S.), Europe (the U.K., Germany, and France), Asia (Japan and China), and rest of the world. Owing to strong government initiatives regarding implementation of computerized physician order entry systems, North America has been the largest market for CPOE systems over the years. It will remain the leading market through to 2020, expanding at a CAGR of 6.7%. From US$ 589.7 Mn recorded in 2014, the North American market for CPOE systems market will reach up to US$ 870.3 Mn by 2020 end. Asia is expected to witness the fastest growth over the forecast period, attributed to growing chronic illnesses and awareness about the advantages of automated patient data management systems. China, Japan, and India will especially present ample untapped growth opportunities to the market. The European Commission’s eHealth Action Plan (2012) emphasized the use of modern devices and technologies to promote personalized medicines in Europe. As a result, the market in Europe will witness moderate growth over the next few years.
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The global computerized physician order entry systems market is operated by some of the key companies, including McKesson Corporation, Allscripts, GE Healthcare, Cerner Corporation, Siemens Healthcare, Epic Systems Corporation, Athenahealth, Inc., Carestream Health, Inc, NextGen Healthcare Information Systems, LLC, and Meditech. New market entrants may capitalize on the emerging market in developing regions and rising demand for efficient IT systems in diagnostics.
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