Computerized Physician Order Entry Market Worth 1379 Million USD by 2019
PUNE, India, August 31, 2015 /PRNewswire/ --
According to a new market research report "Computerized Physician Order Entry Market by Type (Integrated, Standalone), by Component (Hardware, Software, Services), by Deployment, by End User (Emergency Healthcare Service Provider, Hospitals, Office Based Physicians), by Geography - Global Trends & Forecast to 2019", published by MarketsandMarkets, The Computerized Physician Order Entry Market is expected to reach around 1379 Million USD by 2019 at a CAGR of 6.6% during the forecast period from 2014 to 2019.
Browse 61 Tables and 68 Figures spread through 111 Pages and in-depth TOC on "Computerized Physician Order Entry Market"
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CPOE is an electronic entry process utilized by medical practitioners to enter medication orders and other treatment related instructions particularly for hospitalized patients under care. It reduces errors related to handwriting as well as reduces the time taken for order completion. The order entry is transmitted over a network to various departments within a hospital, including pharmacy, laboratory, and radiology. The CPOE market is steadily progressing, and is primarily driven by government initiatives that improve IT infrastructure and information technology, thereby reducing healthcare expenditure.
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CPOE allows medical orders to be entered into EHRs directly by practitioners or other staff members, who possess specific privileges. The CPOE acronym can be interpreted differently including computerized prescription order entry, computerized physician order entry, and computerized provider order entry. The global CPOE market constitutes 5.4% of the global computerized physician order entry (CPOE) market.
CPOE has various advantages that include eliminating illegible orders, giving warnings for allergy and adverse drug reactions at the point of ordering, and providing individual order monitoring and warnings for drug-drug, drug-food, drug-laboratory, and drug-diagnosis interactions.
There is a global increase in the adoption rate of various technologies in healthcare systems that encompass electronic health records (EHR) systems, which in turn has boosted the adoption rate of CPOE. The CPOE integration with various other systems significantly reduces the implementation cost, and thus, it is increasingly becoming a part of the integrated platform for medication order management.
Although, these systems are expensive, incentives and mandates from government are expected to drive the adoption of these systems. The major barriers in the growth of this market are state of commercial CPOE systems and need for large investment.
The key players profiled in the global CPOE Market are Allscripts (U.S.), Athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Medical Information Technology, Inc. (U.S.), Cerner Corporation (U.S.), eClinicalWorks LLC (U.S.), Epic systems (U.S.), GE healthcare (U.K.), Mckesson Corporation (U.S.), and Carestream Health (U.S.). The major strategies adopted by the major players in this market are agreement, new product launch, and merger & acquisition.
The research study is aimed at identifying emerging trends and opportunities in the global CPOE market along with detailed classifications, in terms of revenue. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global CPOE market, on the basis of type, component, deployment, end-user, and region.
Apart from the market segmentation, this report also makes use of the Porter's Five Forces Analysis, which provides an in-depth analysis of the market by providing a detailed process flow diagram and market dynamics, such as drivers, restraints, and opportunities in the global CPOE market.
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