The Healthcare Equipment market constitutes things as simple as bandages and tongue depressors and things as complex as sophisticated imaging systems and programmable pacemakers. The major categories are inclusive of surgical instruments and implants, electro-medical equipment, medical supplies, irradiation apparatuses, in-vitro diagnostic equipment and reagents, and dental goods. With increase in healthcare spending, there would be nothing to hold healthcare equipment market back in the forecast period.
According to a new market report published by Persistence Market Research “Global Market Study on Computerized Physician Order Entry Systems – Software to Witness Highest Growth by 2022” the 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 2022, to reach an estimated value of USD 1,481.7 million in 2022.
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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. Globally, computerized physician order entry systems market is witnessing significant growth due to need for integrated healthcare systems in healthcare industry. Incidence of medication errors are increasing in different regions in the world.
It has resulted in an increase in uses of CPOE systems alerts such as drug dosage support and clinical decision support. Increasing demand for better healthcare facilities from rapidly growing aging population and rising prevalence of diseases such as cancer, diabetes and heart diseases.
Government initiatives and rise in investments from healthcare IT players has increased the adoption of computerized physician order entry systems. However, lack of experienced professionals, interoperability issues, cost and time consuming installation process and lack of commitment and interest from physicians are inhibiting the growth of computerized physician order entry systems market. 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.
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.
McKesson Corporation is one of the leading players in the computerized physician order entry systems market. Some of the other major players of computerized physician order entry systems market include Allscripts, GE Healthcare, Cerner Corporation, Siemens Healthcare, Epic Systems Corporation, Athenahealth, Inc., Carestream Health, Inc, NextGen Healthcare Information Systems, LLC and MEDITECH.
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Some of the rapidly developing markets for Computerized Physician Order Entry (CPOE) Systems in Europe identified in the report include Germany, France, and the U.K. On the basis of the material used in the implant, the titanium implants segment leads the global Computerized Physician Order Entry (CPOE) Systems market at present, and the segment is anticipated to exhibit the fastest CAGR at 9.80% during the 2014-2020 period, states the report.
Apart from Europe, players in the Computerized Physician Order Entry (CPOE) Systems industry have found a lucrative market in North America as well. The growing geriatric population in the region, coupled with increasing demand for cosmetic surgeries in the region, is boosting the demand for Computerized Physician Order Entry (CPOE) Systems in North America.
As reported by the ADHA (American Dental Hygienists’ Association), almost 75% of the American adults were suffering from some form of gum disease or other in 2008. Over the years, this number has only increased, amplifying the demand for advanced dental surgeries and Computerized Physician Order Entry (CPOE) Systems.
Asia Pacific, according to the report, is expected to demonstrate the fastest CAGR during the forecast period. Growing awareness regarding dental health and growing medical tourism will aid the growth of the Computerized Physician Order Entry (CPOE) Systems market in the region, states the report.
Computerized Physician Order Entry Systems Market, By Delivery mode
Web Based CPOE
On-Premise CPOE
Cloud Based CPOE
Computerized Physician Order Entry Systems Market, By Components
Software
Hardware
Services
Computerized Physician Order Entry Systems Market, By End User
Hospital CPOE
Pharmacy CPOE
Laboratory CPOE
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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