Global computerized physician order entry systems market to reach $1.5B by 2020: 7 key trends

The global computerized physician order entry systems market is anticipated to see strong growth over the next four to five years, according to a Persistence Market Research report.

Here are seven trends:

1. The global CPOE systems market is expected to be valued at $1.5 billion by 2020.

2. The market was valued at $999.4 million in 2014.

3. It is slated to grow at a compound annual growth rate of 6.8 percent from 2014 to 2020.

4. Increasing demand for better healthcare facilities, government initiatives and rise in investments from healthcare IT players have boosted market growth.

5. However, lack of experienced professionals, interoperability issues, high-cost and time-consuming installation processes and lack of commitment and interest from physicians are inhibiting market growth.

6. North America has the largest market for CPOE systems. But, Asia is becoming one of the fastest growing markets for these systems.

7. Leading players in this market include, McKesson Corp., Allscripts, GE Healthcare, Cerner Corp., Siemens Healthcare, Epic Systems Corp. and athenahealth.

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