Over the next five years, the computerized physician order entry market is set to grow from $938.4 million to more than $1.2 billion, a growth of 6.5 percent, according to a report from research firm MicroMarket Monitor.
The growth of the market, in part, is because of extensive use of CPOE systems by emergency healthcare service providers, hospitals, nurses and office-based physicians, according to an announcement on the report. Providers use the systems for a smoother, more efficient workflow.
North America has the biggest CPOE market, according to the authors of the report. They say it is expected to grow from $552.9 million in 2013 to $771.2 million in 2018. Key players in the U.S. market include Allscripts, athenahealth, Cerner Corp., Carestream Health Inc. and Epic Systems, among others.
However, the authors add that the cost and time involved in installing the systems can have a negative impact on market growth.
A major deterrent to adoption of CPOE systems is the cost. Displaying how much a test costs caused a 9 percent reduction in the number of tests ordered, according to a study published in JAMA Internal Medicine.
As the market grows, there will be room for changes and how it can be used in practice. The system should be defined by improvements to patient safety, according to Chris Snyder, chief medical information officer at Peninsula Regional Medical Center. Snyder said, as FierceHealthIT recently reported, that although adoption of the system is challenging, it can open up doors for stronger governance structures.
The CPOE systems have already had a positive impact--their use for electronic prescribing averted 17.4 million medication errors in the United States in a single year, according to a study in the Journal of the American Medical Informatics Association.
To learn more:
- read the report
- read the announcement