Computerized Physician Order Entry (CPOE) Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Computerized Physician Order Entry (CPOE) Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The computerized Physician Order Entry (CPOE) Systems Market is poised to grow at a CAGR of 6% over the forecast period.

COVID-19 had a positive impact on the market studied. Owing to the rapid outbreak of disease, lockdown measures were followed across the globe and several restrictions were implemented on non-emergency hospital visits. This led to the increasing dependence of the general population on online consultation and treatment which contributed to the high utilization of tools such as Computerized Physician Order Entry systems. As per the article published in BioMed Central (BMC) Journal in April 2022, most hospitals across the European countries have started using the CPOE and EHR software at their facilities to avoid unnecessary visits to patients during the pandemic. Therefore, it is observed that the COVID-19 pandemic fueled market growth across the globe, and with the rising technology adoption in the healthcare sector, the market will witness strong growth shortly as well.

The computerized physician order entry (CPOE) systems market is expected to observe good growth due to government initiatives, increasing healthcare IT adoption, and increasing the quality of healthcare and patient-centered services.

There has been a rapid increase in the overall healthcare expenditure and the adoption of healthcare IT is increasing each year. The implementation and use of electronic health records (EHRs) and other health information technology (HIT) that has been shown to facilitate primary care practice transformation and this is helping in the adoption of IT systems and software in clinics and hospitals. There are also many research studies of individual medical practitioners that have demonstrated that primary care physicians, and particularly family physicians, are more likely than their colleagues to adopt and use HIT. Hence all these factors are increasing the healthcare IT adoption rate and also helping the CPOE market growth in the forecasted period as high adoption of IT in healthcare propels the demand for IT based tools used for ease of healthcare data access.

The patient-centric approach is a more pronounced trend in the market these days. In addition, the rising popularity of wireless and cloud technology is also influencing the market growth.

Key Market TrendsWeb-based is Expected to be the Dominant Segment by Delivery Mode over the Forecast Period

Web-based healthcare applications are those which can be accessed via web browsers like Chrome, Safari, MS Edge, Firefox, and others. For web-based healthcare applications, the user need not download any application, they need to just login into their account on the specified website of the healthcare provider.

The major advantage of a web-based CPOE system is that it can be accessed from any corner of the world over the internet, on any operating system, and without any restriction in its functions which is expected to be a significant growth factor for the web-based segment. Also, as web-based applications do not need installation, there is no requirement for storage and any hardware requirement to the user, and their update is easily performed by the providers. Moreover, the web-based application is easy to build and scale up, saving costs for the provider which may lead to new developments and advancements in the area that will have a positive impact on the growth of the studied segment.

According to a research study published in June 2021, titled “Patient-centered digital healthcare for patients undergoing breast surgery—A cross-sectional questionnaire study”, the patients liked the breast services website but there was low awareness among patients, so as per the study, awareness about the web-based applications and websites need to be increased which may have a positive impact on the growth of the studied segment.

North America Region Holds the Largest Market Share of Computerized Physician Order Entry (CPOE) Systems Market

North America is found to be one of the biggest markets for the global CPOE Systems market owing to the growing investments from key players in the development of these software and government initiatives in the region such as the HITECH Act (Health Information Technology for Economic and Clinical Health). There is also an increasing adoption rate of new healthcare software and its usage that is propelling the market growth.

The increasing occurrence of chronic and lifestyle-associated diseases, elevated adoption of advanced technology, and a mounting need for integrated healthcare are also found to surge the growth of the North American computerized physician order entry market. For instance, nearly half of Americans, including those with hypertension and coronary heart disease, have some form of cardiovascular illness, according to data from the American Heart Association that was released in January 2019. Heart disease is also the main cause of death in the US, according to the Centers for Disease Control and Prevention (CDC) in September 2020. Around 805,000 Americans experience a heart attack each year. As the number of deaths due to heart diseases is increasing there is a continuous need for the proper monitoring of cardiac diseases and patient-centric healthcare tools such as CPOE fulfill the unmet needs hence it is expected to show growth over the forecast period.

Additionally, around, 6,835,866 persons were 65 years of age or older in 2020, according to a Statistics Canada report titled "Older Adults and Population Aging Statistics" that was published in July 2020. The burden of the senior population will fuel the demand forCPOE in the nation since chronic ailments like heart disorders are more likely to influence and are more prevalent among the older population.

Hence, owing to the above-mentioned factors, the market studied is expected to witness strong growth in the North America region.

Competitive Landscape

The key players in the computerized physician order entry market are found catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems, Mckesson Corporation, Athenahealth, Inc., are found to be the key players offering computerized physician order entry solutions.

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