Market Research Report
Global Computerized Physician Order Entry (CPOE) Systems Market Growth - Segmented by Deployment Mode, Component, System Type, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||708577|
|Published||Content info||126 Pages
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|Global Computerized Physician Order Entry (CPOE) Systems Market Growth - Segmented by Deployment Mode, Component, System Type, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: September 1, 2018||Content info: 126 Pages||
The global Computerized Physician Order Entry (CPOE) Systems market is expected to register a CAGR of nearly 6.1% during 2018-2023 (forecast period). CPOE is defined as an application, which assist providers to enter the medical orders into systems (computers) which are located within an ambulatory or in the inpatient setting. CPOE aids in the replacement of many traditional methods of enlisting medication orders, such as verbal (in person or through telephone) and written (prescriptions). These systems will let the users to electronically specify medication orders as well as laboratory, referral, admission, radiology, and procedure orders.
The adoption of healthcare IT is increasing each year. The implementation and use of electronic health records (EHRs) and other health information technology (HIT) has been shown to facilitate primary care practice transformation and this is helping in the adoption of IT systems and softwares in the clinics and hospitals. The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 authorized approximately USD 30 billion to support the adoption and to increase the use of HIT throughout the US health care delivery system. CPOE implementation is one of CMS's criteria (Centers for Medicare and Medicaid Services) for electronic medical record (EMR).
According to the provisions of the Healthcare Information Technology for Economic and Clinical Health (HITECH) Act, healthcare organizations that achieved meaningful use compliance by 2011 were eligible to receive incentive payments; those who have failed to achieve that standard by 2015 may incur financial penalties. Meaningful use stage 1 criteria which specifies that 30% of patients must have their medication orders entered via CPOE. And Meaningful use stage 2 expanded those criteria to mandate that the same percentage of radiology procedures be entered by CPOE. And even the many research studies of individual medical practitioner have demonstrated that primary care physicians, and particularly family physicians, are more likely than their colleagues to adopt and use HIT. All these factors are helping in increasing Healthcare IT adoption rate and also helping the CPOE market growth in the forecasted period. Other factors which are driving the Computerized Physician Order Entry (CPOE) Systems market growth are increasing government initiatives along with increasing quality of healthcare and patient centered services.
Shortage of Skilled IT Professionals to Restrain Growth of the Computerized Physician Order Entry (CPOE) Systems Market
There is a stiff demand for skilled IT professionals, mostly in the maintenance and creation of medical software's, cyber security and system integration such as CPOE, EHR, etc. However, IT labor crunch has been a major challenge for the healthcare sector and the management of software's such as CPOE systems. Healthcare IT Computerized Physician Order Entry (CPOE) Systems integration in the hospitals or clinics requires experienced IT managers and executives to control and maintain these Computerized Physician Order Entry (CPOE) Systems.
The competition for information-security analyst managers, research scientists and data administrators is intense and often do not match the lucrative offers of the software industry. This a major reason for the lack of skilled IT personnel's in the healthcare industry. Apart from the developed countries of the United States and most of Europe, the crunch is highly prominent in the countries of Asia and Africa that are still to achieve medical facilities in remote areas. Lack of adequate funding has also been a major issue, as they do not give a concrete platform for the healthcare IT professionals to develop databases and software tools. Lack of resources and lucrative offers has thus made healthcare IT less attractive for skilled IT professionals and has restrained the growth of the Computerized Physician Order Entry (CPOE) Systems market. And other factors such as high cost of installation is also restraining the growth of the market.
North America is the biggest market for global CPOE Systems market owing to the growing investment from key players in the development of these software's, and government initiatives in the region such as HITECH Act (Health Information Technology for Economic and Clinical Health). And even the adoption rate of new healthcare software's and its usage is more in this region. These factors are making the North America region to have highest market share in Computerized Physician Order Entry (CPOE) Systems market.
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