Need to Reduce Medication Errors, Streamline Workflows, and Improve Patient Safety Driving Computerized Physician Order Entry System Market Growth.
Rockville, MD, Sept. 02, 2024 (GLOBE NEWSWIRE) — As per a new research report published by Fact.MR, the global computerized physician order entry (CPOE) system market is estimated to reach a valuation of US$ 1.92 billion in 2024 and further expand at a CAGR of 6.6% from 2024 to 2034.
Healthcare providers are realizing the significant advantages of computerized physician order entry systems, which is driving up demand for them globally. The ability of medical personnel to electronically enter instructions with the help of these digital technologies is completely changing hospital operations and patient care.
Workflows are streamlined, patient safety is enhanced, and medication mistakes are greatly decreased with CPOE systems. They facilitate quicker order processing, boost team communication within the healthcare system, and offer useful data for activities aimed at improving quality. With the growing complexity of healthcare, CPOE systems provide essential decision assistance to help doctors follow clinical guidelines and best practices.
CPOE systems have become indispensable as global regulatory organizations place an increasing emphasis on electronic health data and patient safety. Their widespread acceptance is being fueled by their capacity to save costs, enhance patient outcomes, and raise the standard of healthcare overall.
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Key Takeaways from Market Study
- The global computerized physician order entry system market is projected to reach a valuation of US$ 3.64 billion by the end of 2034.
- By 2034, the CPOE market in Canada is evaluated to reach US$ 117 million.
- Among the end users, pharmacies are set to account for 1% of the market share in 2024.
- The CPOE market in East Asia is analyzed to expand at a CAGR of 7% from 2024 to 2034.
- The market in North America is projected to reach a valuation of US$ 1.76 billion by the end of 2034.
- Based on components, the hardware segment of the computerized physician order entry system market is estimated to be worth US$ 584.6 million in 2024.
“Computerized physician order entry systems are allowing hospitals to improve the quality of their service, thus gaining the trust of patients,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Computerized Physician Order Entry Systems Market:
Allscripts Healthcare LLC; Atheanahealth Inc.; Medical Information Technology Inc.; eClinicalWorks; Epic Systems Corporation; Carestream Health; Meditech LLC; CareCloud Inc.; First Databank Inc.
Increasing Adoption of Mobile CPOE Apps
Rising popularity of mobile CPOE apps allows doctors to enter orders from tablets or smartphones, enhancing flexibility and productivity. Additionally, cloud-based CPOE systems are gaining traction for faster upgrades and scalability.
Modern systems seamlessly integrate with other healthcare IT platforms like electronic health records and pharmaceutical systems, emphasizing interoperability. Voice recognition technology enables hands-free order entry, further enhancing usability.
Personalization is another trend, with CPOE systems adapting to the preferences and specialties of individual physicians. User-friendly interfaces are increasingly vital to boost adoption rates and reduce physician fatigue.
CPOE suppliers are implementing advanced security measures to protect sensitive patient data amid growing cybersecurity concerns. These advancements are driving the CPOE market towards smarter, more efficient, and secure solutions.
Computerized Physician Order Entry Systems Industry News:
- AmerisourceBergen unveiled DTxConnect in July 2022, a completely integrated ordering, dispensing, and fulfillment platform designed to make it easier for patients to receive the digital medicines and diagnostics that their doctors have prescribed.
- December 2021 saw the completion of Baxter International Inc.’s acquisition of Hillrom. Baxter wants to create a connected system that revolves around the patient and their care team by leveraging its combined expertise in connectivity technologies and integration, digital health solutions, data visualization and analytics, treatment development, monitoring, and sensing.
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Regional Analysis:
The United States government has enacted programs such as the Meaningful Use program and the HITECH Act to encourage healthcare practitioners to use CPOE and electronic health records (EHRs). The United States has advanced IT infrastructure and a thriving IT sector, which has enabled the creation and execution of sophisticated CPOE systems. The need for CPOE systems is being driven by the popular trend of digitizing healthcare operations across the country.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the computerized physician order entry system market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on delivery mode (web-based CPOE, on-premise CPOE, cloud-based CPOE), component (software, hardware, services), and end user (hospitals, pharmacies, laboratories), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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About Us:
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With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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Article originally published on www.einpresswire.com as Computerized Physician Order Entry Systems Market is Forecasted to Reach US$ 3.64 Billion by 2034
