Global Computerized Physician Order Entry Systems Market to Reach US$1.5 Billion by 2018, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Computerized Physician Order Entry (CPOE) Systems market. The global market for Computerized Physician Order Entry (CPOE) Systems is forecast to reach US$1.5 billion by the year 2018. Major factors driving growth in the market include rising inclination towards patient safety and elimination of medical errors, increasing acceptance of IT solutions in healthcare environment, growing adoption of EMR technology, increasing integration of CPOE systems with other healthcare information systems, and increasing governmental support through regulations favoring implementation of CPOE.

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Computerized Physician Order Entry (CPOE) Systems: A Global Strategic Business Report

San Jose, CA (PRWEB) July 13, 2012

Follow us on LinkedIn – Global market for CPOE systems is rising at a substantial pace. Increasing awareness on the perils of medication errors caused by illegible prescriptions is driving the need for more efficient healthcare system, worldwide. Pertinently, demand for IT systems that foster elimination of such errors is fast catching up. CPOE systems are also benefiting substantially from growth in adoption of other healthcare IT systems such as Electronic Medical Records (EMRs), with which CPOE systems are usually integrated. In addition to alleviating medication errors, CPOE systems garner financial benefits such enabling reduced healthcare costs, which is prompting several governments to assist in their implementation. Efforts from the governments have come in the form of regulations, incentive support and others. Together, these factors are fostering adoption rates worldwide.

Notwithstanding these factors, adoption of CPOE systems faces numerous hurdles. Even in countries with relatively higher adoption rates, usage remains low, which is mainly due to lack of commitment and interest from physicians. Sporadic incidents of errors from the CPOE systems and other user errors have affected the physicians’ trust in these systems, which threatens further increases in adoption. However, government mandates in countries such as the US are expected to alleviate this issue to an extent. On the other side, initial prices of these systems remain prohibitively expensive for many, which is also another factor influencing adoption rates negatively. Future growth in the market hinges upon the ability of regulations and incentives from governments to entice physicians to adopt these systems, and the ability of vendors to offer improvised, technologically enhanced and cost effective products.

A major hurdle to adoption noticed in several cases has been the lower acceptance of the technology by the end-users, the physicians, and its usage. Physicians rule the point of healthcare delivery, with a major say on expenses and timeframe required for delivering care. Often, physicians are time-constrained and see information systems as a necessary evil, beneficial only to improve bottom lines of the institution. Consequently, the ability to bring the end-users into the loop becomes pivotal for wider adoption of CPOE systems in the healthcare industry. Building a perception among physicians that a CPOE system is an aid to the process of billing could be productive. Also, a system needs to be built in such a way that it minimizes physicians’ compliance efforts. Several older physicians loathe adoption of novel technologies for the belief that it hinders their productivity and quality of care. Another factor that keeps physicians aloof from new technologies is the fear of substantial time consumed by them. This calls of simplification of technologies implemented in hospitals enabling shortcuts in their work with these systems.

CPOE implementation continues to rise worldwide with increasing efforts to enhance safety of patients and effectiveness, quality and efficient of patient care. However, these systems are losing identity as standalone systems, as their implementation is highly linked to adoption of other healthcare information systems such as Electronic Medical Records and Hospital Information Systems. Progressively, CPOE systems are emerging as a part of integrated platform for medication order management. Integration of CPOE systems with other healthcare information systems is gathering significant interest, both from end-user as well as vendor perspective. The approach is expected to provide an easy and efficient data access. Presently, integration accounts for one-third of the overall cost of a CPOE project.

The US represents the largest regional market worldwide, as stated by the new market research report on Computerized Physician Order Entry Systems. The US is also expected to emerge as the fastest growing market for CPOE systems worldwide. Market for computerized physician order entry systems in the Rest of World market is projected to grow at a compounded annual rate of 8.7% during the analysis period.

Major players profiled in the report include Allscripts Healthcare Solutions, Inc., Cerner Corporation, CliniComp International, Inc., EDIMS, LLC, Halfpenny Technologies, Inc., GE Healthcare, McKesson Corporation, PatientKeeper, Inc., QuadraMed Corporation, VisualMED Clinical Solutions Corporation, among others.

The research report titled “Computerized Physician Order Entry (CPOE) Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides comprehensive market overview, trends & issues, recent industry activity and profiles of market players. Analysis and overview is provided for the years 2010 through 2018, for major geographic markets, such as US, Canada, Europe and Rest of World. Market analytics are provided in terms of US$ Million. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Computerized_Physician_Order_Entry_CPOE_Systems_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
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