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Global E-Prescription Market – Industry Trends and Forecast to 2031

Healthcare IT

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Global E-Prescription Market – Industry Trends and Forecast to 2031

  • Healthcare IT
  • Upcoming Report
  • Feb 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global E-Prescription Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 98,477.75 Million
Diagram Market Size (Forecast Year) USD 273,127.08 Million
Diagram CAGR %

Major Markets Players

  • Epic Systems Corporation
  • Cerner Corporation
  • Allscripts Healthcare LLC
  • NXGN Management LLC
  • athenahealth

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 2031.

E-Prescription Market

E-Prescription Market Analysis and Size

The e-prescription market is growing significantly because of the transformation as healthcare systems increasingly adopt digital solutions to streamline the prescription process. E-prescription, an electronic method of generating and transmitting prescription orders between healthcare providers and pharmacies, offers numerous advantages over traditional paper-based systems. This market's expansion is propelled by the growing emphasis on reducing medication errors, enhancing prescription accuracy, improving overall healthcare efficiency, and ensuring seamless communication between healthcare professionals and pharmacies.

Data Bridge Market Research analyzes that the global e-prescription market, which was USD 98,477.75 million in 2023, would rocket up to USD 273,127.08 million by 2031 and is expected to undergo a CAGR of 12.0% during the forecast period. “Solutions” dominates the by-product segment of the market with the comprehensive suite of electronic prescribing technologies and software platforms, outpacing standalone product categories. This trend reflects a strategic shift towards integrated solutions that address the diverse needs of healthcare professionals, pharmacies, and patients, fostering a more cohesive and efficient e-prescription ecosystem.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

E-Prescription Market Scope and Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa

Market Players Covered

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.)

Market Opportunities

  • Government's expanding support for the adoption of EHR solutions
  • Rising costs of healthcare

Market Definition

E-Prescription refers to the comprehensive ecosystem of digital solutions and technologies aimed at enhancing and streamlining the prescription process within the healthcare industry. This consists a range of electronic prescription systems, software platforms, and associated services designed to replace traditional paper-based prescription methods. E-prescription systems facilitate the secure and efficient exchange of prescription information between healthcare professionals, pharmacies, and patients. These technologies aim to reduce medication errors, enhance patient safety, and improve overall healthcare workflow efficiency.

Global 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.

Opportunity

  • 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.

Restraint/Challenge

  • High cost of employment

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.

Recent Developments

  • 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 meager 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

Global E-Prescription Market Region Analysis/Insights

The e-prescription market is analyzed and market size insights and trends are provided by region, product, usage mode, mode of delivery, and end-user, as referenced above.

The countries covered in the market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Kuwait, Egypt, and rest of Middle East & Africa.

North America is expected to dominate the market due 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 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 impact the current and future trends of the market. Data points like downstream 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 the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Semiconductor Infrastructure growth Installed base and New Technology Penetration

The e-prescription market also provides you with a detailed market analysis for every region’s growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the e-prescription market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the e-prescription market. The data is available for the historic period 2010-2020.

Competitive Landscape and Global 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, regional presence, 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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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The e-prescription market size will be worth USD 273,127.08 million by 2031.
The growth rate of the e-prescription market is 12.0% during the forecast period by 2031.
Increased adoption of EHR solutions & increasing e-prescription in hospitals are the growth drivers of the e-prescription market.
Product, usage mode, mode of delivery, and end-user are the factors on which the e-prescription market research is based.
Major companies 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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