The global computerized physician order entry systems market is estimated at USD 999.4 million in 2014. It is likely to grow at a CAGR of 6.8% from 2014 to 2020 to reach USD 1,481.7 million in 2020.

Albany, NY -- (SBWire) -- 09/29/2015 --A computerized physician order entry (CPOE) system is a healthcare information system which captures, stores, manages and transmits medical practitioner's instructions electronically, for the treatment of patients. These systems reduce medication errors and improving the quality of care given to patients. This is done by decreasing delay in order completion, reducing errors related to handwriting, providing error checking for incorrect doses or tests and by reducing treatment costs. Computerized physician order entry systems ensure proper collection and exchange of patient's health data between hospitals, laboratories or clinics. A computerized physician order entry system is an integrated system which is generally paired with some type of clinical decision support system (CDSS) and electronic health record (EHR) system. This integration helps to deliver coordinated patient care services. It also promotes continuity of care for each patient during the entire course of illness. Integration also assures that healthcare facilities are delivered in the most cost-effective way.

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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, have provide abundant opportunities to computerized physician order entry systems.

Rise in need for integrated healthcare systems, high incidence of medication errors and government initiatives are the key growth drivers for the computerized physician order entry systems market. On the other hand, lack of experienced professionals, interoperability issues and cost and time consuming installation process are major concerns for the industry.

Emerging market in developing countries and rise in demand for powerful IT systems in diagnostic and medical laboratories would provide opportunities for new market entrants, which would further drive the growth of the computerized physician order entry systems market. Increasing patient-centric approach and rise in popularity of wireless and cloud technology are some of the recent market trends that have been observed in computerized physician order entry systems market.

This report provides in-depth analysis and estimation of the computerized physician order entry systems market for the period 2014 to 2020, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics including market drivers, restraints, trends and strategic developments has been provided in the report. The computerized physician order entry systems market is categorized on the basis of mode of delivery, end-users, components and geography. Based on mode of delivery, the computerized physician order entry systems market comprises web based CPOE, on premise CPOE and cloud based CPOE. Based on components, the market comprises software, hardware and services.

In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia and Rest of the World (Row). North America is further segmented into the U.S. and rest of North America. Similarly, Europe is further segmented into the U.K., Germany, France and rest of Europe. Asia is further segmented into Japan, China and rest of Asia. Some of the major companies operating in the computerized physician order entry systems market are McKesson Corporation, Allscripts, GE Healthcare, Cerner Corporation, Siemens Healthcare, Epic Systems Corporation, Athenahealth, Inc., Carestream Health, Inc, NextGen Healthcare Information Systems, LLC and MEDITECH. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.

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