The overall computerized physician order entry (CPOE) market is poised to witness a growth of 6.5 percent from $938 million in 2013 to $1.3 billion in 2018, according to a report from research firm MicroMarket Monitor.
The market is witnessing a number of technological advancements due to government initiatives, the report found. Extensive usage of CPOE systems by emergency healthcare service providers, hospitals, nurses, and office based physicians, for smooth and efficient workflow, is another factor for the growth of the market. A cloud-based solution has opened an array of opportunities for the development of novel quality system, the report said.
North America has the largest CPOE market, which is expected to grow at a CAGR of 6.9 percent from $552.9 million in 2013 to $771.2 million in 2018. The demand for CPOE systems in the U.S. is anticipated to grow due to federal government initiatives and high healthcare cost, which demands the adoption of such systems. However, the cost and time involved in the installation of CPOE systems are major factors restraining the growth of this market, according to the report. Key players in the U.S. market include Allscripts, athenahealth, Cerner Corp., Carestream Health Inc. and Epic Systems, among others.