A recent report published by Infinium Global Research on E-prescribing
market provides an in-depth analysis of segments and sub-segments in the global as
well as regional E-prescribing market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional E-prescribing
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global E-prescribing
market. According to the report, the global E-prescribing market is projected
to grow at a CAGR of 22.10% over the forecast period of 2020-2026.
Electronic Prescribing (E-prescribing) is an application that
sends patients or end users prescriptions electronically from their computer to
chosen pharmacies. The primary goal of E-prescribing models in an EHR or HIT
systems are efficient transmission and receipt of complete, accurate, and
unambiguous prescription orders that help optimize pharmacy processing and
fulfillment, thereby eliminating disruptions in workflow and delays in patient
care. E-prescribing solutions are widely adopted among the healthcare industry due
to its benefits such as improved patient safety, fewer medication errors due to
handwritten prescriptions, fewer medication errors due to misunderstanding
phoned-in prescriptions, and less risk of lost or misplaced written
prescriptions.
The global E-prescribing market has been witnessing substantial
growth since the past few years owing to the numerous governments taking active
efforts in improving healthcare infrastructure. E-prescribing systems are
widely used in the preparation of complete medication lists. Moreover, they
also aid data security checks and the extraction of complete information about
patient history and formulary. Furthermore, the global E-prescribing market is
gaining traction owing to increasing applications in healthcare and substantial
support from governments across the world. The increasing need for improved
healthcare quality and minimized medication errors is another key driver
anticipated to fuel the market growth during the prediction period. A large
number of medical and healthcare centers and hospitals in developing economies
are increasingly implementing electronic health record systems (EHRs), which
will further bolster the demand for E-prescribing.On the other hand, higher
initial costs and risks associated with the security and privacy of patients’
data are the factors hampering the growth of the market. Additionally, the
current concern over the spread of coronavirus is also expected to have a
positive impact on the E-prescribing market owing to enforce of lockdown and
social distancing in several countries. E-prescription is a new smart way of
managing and maintaining the manual procedure of writing a prescription. The
electronic prescription service sends prescriptions from a general practitioner
to a pharmacy without the necessity for a paper copy; which means the patient
would not need to come to the practice to collect it. This would be a very
significant service if the community and the practice are affected by Covid-19
epidemic and there is a need for isolation and social distancing.
The global E-prescribing market has been regionally segmented into
the geographies of North America, Europe, Asia Pacific, and RoW. From a
regional perspective, the North America region is expected to dominate the
market, attributed to higher adoption of electronic prescribing systems to
support the increasingly sophisticated healthcare infrastructure. Furthermore,
the global market for E-prescribing has largely benefitted from the numerous
activities in the Europe region. Large-scale implementation of e-prescription
systems was made possible in Europe through the efforts of several eHealth
projects, comprising Schleswig-Holstein Health Initiative and European Patient Smart
Open Services. Furthermore, the Asia Pacific region is expected to witness a
high growth during the forecast period owing to the strengthening of healthcare
services and the advancement of the information technology in this region.
The report on the global E-prescribing market covers segments such as
product, delivery mode, and end user. On the basis of product, the sub-markets
include integrated solutions, standalone solutions, and service. On the basis
of delivery mode, the sub-markets include web, cloud, and on-premise. On the
basis of end user, the sub-markets include hospital, office-based physicians,
and pharmacy.
The report provides profiles of the companies in the market such
as Cerner Corporation, GE Healthcare, Allscripts Healthcare, LLC, Athenahealth,
Inc., Change Healthcare, DrFirst.com, Inc., Quality Systems, Inc., Epic Systems
Corporation, Medical Information Technology, Inc., and RelayHealth Corporation.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of E-prescribing
market. Moreover, the study highlights current market trends and provides
forecast from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.