Global E-Prescribing Market Opportunities and Forecast 2023-2030

E-Prescribing Market Overview

E-prescribing systems are widely utilized in the preparation of complete medication lists. Moreover, they also aid data security checks and extraction of complete information of patient history and formulary. The worldwide E-prescribing market is gaining traction because of increasing applications in healthcare and substantial support from governments across the world.

Growing need for improved healthcare quality and minimized medication errors is another key driver expected to fuel the market growth during the forecast period. A large number of medical and healthcare centers and hospitals in developing economies are increasingly implementing electronic health record systems (EHRs), which can further bolster the demand for E-prescribing.
However, widespread adoption of E-prescribing systems is facing limitation thanks to higher initial costs and risks associated with security and privacy of patients’ data. This is often a significant factor which will still deter the market growth over the forecast period.

Despite their benefits, end users remain hesitant to adopt e-prescribing solutions mainly thanks to the high costs involved. The prices aren't limited to the one-time purchase of a system, but also include recurrent expenses like those incurred by implementation services, maintenance and support services, integration of e-prescribing with EHR/EMR, and, in some instances, training and education. This restricts smaller hospitals and office-based physicians from investing in e-prescribing solutions, especially within the emerging APAC and Latin American markets.
 
Covid-19 Impact on E-Prescribing Market:

In addition, the current Global Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Global Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
 
E-Prescribing Market Segment Overview

By product type, integrated system accountable market growth on forecast period.

By end-user, Hospital market segment has shared significant market growth and also increasing concerns of health there is huge demand of office –based physician.

By Delivery Mode, The web- and cloud-based model offers improved performance and reliability by avoiding long deployment cycles. It also minimizes upfront investments without incurring high infrastructure costs because the user can access the software from any compatible system using an access ID or username and password.

Market Analysis, Insights and Forecast – By Product Type
·       Integrated system
·       Stand-alone system

Market Analysis, Insights and Forecast – By End Use
·       Hospital
·       Office-based physician
 
Market Analysis, Insights and Forecast – By Delivery Mode
·       Web-based
·       On-premise/licensed
·       Cloud-based
 
E-Prescribing Market Regional Overview

Region-wise, in terms of regions, North America is anticipated to dominate the market over the forecast period, attributable to a high number of state initiatives and incentives within the region. Europe is that the second-largest market for e-prescription software, attributable to the strict regulatory policies in European countries to prevent medical errors. Furthermore, initiatives by the EU are further anticipated to lead to growth. While many countries don't accept e-prescriptions from other countries, the EU issued a circular allowing the utilization of an e-prescription issued by a practitioner during a different country while visiting a pharmacy in another EU country.

E-Prescribing Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
E-Prescribing Market Competitor overview

Some key developments and strategies adopted by manufacturers in the E-Prescribing are highlighted below.
 
·        In June 2019, Allscripts (US) acquired ZappRx (US) to help Veradigm’s e-prescribing solutions by integrating it with the automated prior authorization platform, thus adding value to its existing platform.
 
E-Prescribing Market, Key Players

·         Allscripts
·         GENERAL ELECTRIC COMPANY
·         athenahealth, Inc
·         Daw Systems, Inc
·         NewCrop, LLC
·         eClinicalWorks
·         Change Healthcare.
·         Practice Fusion, Inc
·         Henry Schein
·         Surescripts