Global E-Prescription Market, By Product (Solutions, Services), Usage Mode (Handheld Device, Computer-Based Devices), Mode of Delivery (Web and Cloud-Based Solutions, On-Premise Solutions), End-User (Clinics, Physicians, Pharmacies, Hospitals) – Industry Trends and Forecast to 2029.
E-Prescription Market Analysis and Size
The need for e-prescriptions across the globe has been made possible by the growing use of technology in many aspects of healthcare. Other growth-promoting technical developments include the creation of products with greater performance capabilities and ease of deployment. These solutions boost patient compliance and organizational workflow by offering affordable generic formulations. Additional factors are projected to fuel the industry, such as the adoption of pro-public health government policies and significant upgrades to the healthcare system. All these factors will propel the market growth during forecast period of 2022 to 2029.
Data Bridge Market Research analyses that the e-prescription market which was USD 76.31 billion in 2021, would rocket up to USD 211.65 billion by 2029, and is expected to undergo a CAGR of 13.60% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
E-Prescription Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Solutions, Services), Usage Mode (Handheld Device, Computer-Based Devices), Mode of Delivery (Web and Cloud-Based Solutions, On-Premise Solutions), End-User (Clinics, Physicians, Pharmacies, Hospitals)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare, LLC. (U.S.), NXGN Management, LLC. (U.S.), athenahealth, Inc. (U.S.), RelayHealth, LLC (U.S.), Henry Schein, Inc. (U.S.), General Electric (U.S.), CPSI (U.S.), DrFirst (U.S.) and Medical Information Technology, Inc. (U.S.)
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Market Opportunities
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Market Definition
E-Prescription Market Dynamics
Drivers
- Increased adoption of EHR solutions
The need for EHR solutions is primarily driven by the government's expanding support for the adoption of EHR solutions and the need to control the rapidly rising healthcare costs. The implementation of electronic health records has simplified prescription filling in several ways. The integrating solutions offer a better availability of medical histories than a standalone e-prescribing system. The global COVID-19 outbreak has also increased the number of patients in hospitals, necessitating improved patient data management. This is anticipated to increase demand for these solutions.
- Increasing E-prescription in hospitals
Doctors are finding themselves better equipped with technology replacing something basic but crucial in healthcare as prescribing medicine becomes easier. A computer created, communicated, and filed out medical prescription is known as a "e-prescription." Its primary goal is to reduce the need of paper prescriptions and the danger of prescription error. These are the factors which propel the growth of the market.
Opportunities
- Development of e-prescribing technologies
The main issues fuelling the development of e-prescribing technologies is the escalating opioid crisis in the United States. While making it more challenging to engage in misuse or fraud, the electronic prescription in controlled medications (EPCS) system offers a transparent, secure method that makes it relatively simpler to prescribe various controlled substances to patients who genuinely require them. For instance, the opioid issue reached crisis proportions in 2018 and cost the United States more than USD 500 billion annually, according to Surescipt projections.
Restraints/Challenges
- High cost of employment
On the other hand, the lack of technological awareness, high cost of employment, security, workflow issues, and increasing use of e-prescribing systems will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the e-prescription market.
This e-prescription market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the e-prescription market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on E-Prescription Market
The COVID-19 pandemic won't have a direct effect on the e-prescription market, but it will have an impact on the healthcare I.T. and EMR businesses, which will increase demand for e-prescribing tools both during and after the pandemic. The COVID-19 outbreak has led to an upsurge in teleconsultations. EHR, telemedicine, and e-prescribing functions are integrated to let prescribers build an interconnected network that ensures the usage of HCIT for patient diagnosis and medication prescription. The Drug Enforcement Administration's (DEA) rules permitting electronic prescription of restricted substances have also increased the frequency of electronic prescription transactions, as have the CDC's advice to use telemedicine services.
Recent Development
- In April 2020, DrFirst (U.S.) partnered with ID.me (U.S.) to help users of the company’s e-prescribe app to verify their identities within a few minutes. This is predictable to speed up the process for clinicians to prescribe drugs.
- In July 2019, NextGen Healthcare(U.S.) announced its partnership with Optimize Rx (U.S.) to provide real-time access to critical financial information, allowing providers to help patients choose appropriate medication plans per their cover and budgets. This tool has been integrated with the company’s EHR workflow.
- In June 2019, Allscripts (U.S.) acquired ZappRx (U.S.) to help Veradigm’s e-prescribing solutions by integrating it with the automate prior authorization platform, thus adding value to its existing platform.
Global E-Prescription Market Scope
The e-prescription market is segmented on the basis of product, usage mode, mode of delivery and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Solutions
- Services
Usage Mode
- Handheld Device
- Computer-Based Devices
Mode of Delivery
- Web and Cloud-Based Solutions
- On-Premise Solutions
End-User
- Clinics
- Physicians
- Pharmacies
- Hospitals
E-Prescription Market Regional Analysis/Insights
The e-prescription market is analysed and market size insights and trends are provided by country, product, usage mode, mode of delivery and end-user as referenced above.
The countries covered in the e-prescription market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the e-prescription market owing to high number of government initiatives and incentives in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and increasing demand for advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and E-Prescription Market Share Analysis
The e-prescription market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to e-prescription market.
Some of the major players operating in the e-prescription market are:
- Epic Systems Corporation (U.S.)
- Cerner Corporation (U.S.)
- Allscripts Healthcare, LLC. (U.S.)
- NXGN Management, LLC. (U.S.)
- athenahealth, Inc. (U.S.)
- RelayHealth, LLC (U.S.)
- Henry Schein, Inc. (U.S.)
- General Electric (U.S.)
- CPSI (U.S.)
- DrFirst (U.S.)
- Medical Information Technology, Inc. (U.S.)
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