The overall computerized physician order entry (CPOE) market is expected to see growth of 6.5 percent from $938.4 million in 2013 to nearly $1.3 billion in 2018, according to a report from MicroMarket Monitor.
The key players in the market include Cerner Corporation, Allscripts, Epic Systems, McKesson Corporation, GE Healthcare, Athenahealth, Meditech, Zynx Health, Emdeon, CliniComp International and others.
Components of CPOE include hardware, software and services, while deployments of CPOE are on-premise, Web-based and cloud-based. The applications behind CPOE include clinical guidelines, clinical reminders, drug allergy alerts, drug-drug interactions and drug dosing support.
The report also includes market estimates and forecasts, such as which of CPOE markets are doing well and which are not, and an overview of the competitive landscape, including how companies like Cerner, Allscripts and Epic Systems are doing in the CPOE market.
North America is the largest computerized physician order entry systems market, which is expected to grow at a compound annual growth rate (CAGR) of 6.9 percent from $552.9 million in 2013 to $771.2 million in 2018.
While demand for the computerized physician order entry systems is anticipated to grow due to federal government initiatives and high health care cost, which demands the adoption of CPOE systems, the report warned the cost and time involved in the installation of CPOE systems are major factors restraining the growth of this market.
Simultaneously, cloud-based solutions have opened an array of opportunities for the development of novel quality system, and the market is witnessing a number of technological advancements, thanks to government initiatives in the field.
"Extensive usage of the computerized physician order entry systems by emergency health care service providers, hospitals, nurses and office-based physicians, for the smooth and efficient workflow is another factor for the growth of the computerized physician order entry market," the report noted.
Worldwide, Europe is the second largest market for computerized physician order entry systems, which is expected to grow at a CAGR of 6 percent from $218.7 million in 2013 to $292.4 million in 2018.
Demand for the computerized physician order entry systems is anticipated to grow due to increasing European government investments, but the Eurozone debt crisis, and the cost and time involved in the installation of the CPOE systems, are major factors restraining the growth of the market in Europe.
Although Asia is expected to be the fastest growing computerized physician order entry systems market, which is expected to grow at a CAGR of 6.9 percent from $117.3 million in 2013 to $163.9 million in 2018, poor hardware infrastructures is expected to restrain the CPOE market in Asia.