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Global E-Prescribing Market is Expected to Grow at a CAGR of 21.4% in the Forecast Period of 2020-2025.

According to a new report by EMR titled, ‘Global E-Prescribing Market Report and Forecast 2020-2025’, the global e-prescribing market is estimated to reach USD 1.74 billion by 2025, growing at a CAGR of 21.4% in the forecast period of 2020-2025.

The global e-prescribing market has been divided into solutions and services based on products. Due to increased penetration and high development costs, solutions had a significant market share of the product segment in 2019. Over the forecast period, the service segment is projected to expand significantly.

Due to a large number of government programs and incentives in the region, North America is projected to dominate the market over the forecast period. Due to the strict regulatory measures in European countries to avoid medical errors, Europe is the second-largest market for e-prescribing. In addition, the initiatives taken by the European Union are expected to drive the development of the market. In 2019, the European Union released a directive permitting the use of an e-prescription provided by a doctor in a foreign country when visiting a pharmacy in another EU country.

Moreover, favourable government policies like incentive programs and strict regulations on handwritten prescriptions because of medical errors are the key reasons for the overall market growth. For instance, handwritten medical prescriptions were banned by the United Arab Emirates Ministry of Health and Prevention in 2018. Private health facilities are required to have printed or electronic copies of the prescriptions in compliance with this circular initiative.

General Electric Company (NYSE: GE), one of the leading key players in the industry, enables the e-prescribing of GSK vaccines under their GE centricity EHR. For electronically prescribing a vaccine in GE Centricity, the prescriber must select several prescription elements, like dosing and quantity, to order the prescribed drug accurately. The procedure is identical to e-prescribing drugs and therefore, should be familiar to the prescriber. Such developments are expected to aid the growth of the market in the coming years too.

Market Analysis by Product, Delivery Mode, Usability, End Use, and Region:

  • Based on product, the market can be divided into solutions, hardware, and services. Solutions are further divided into integrated and standalone solutions. Services can be segmented into support and maintenance services, implementation services, network services, and training and education services.
  • The delivery mode for e-prescribing can be web based, cloud based, and on-premises/licensed based.
  • The usability of e-prescribing can be divided into handheld device and computer based device.
  • It finds end-uses in hospitals, office-based physicians, and pharmacies.
  • The regional markets for e-prescribing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand to reduce medical errors and ADEs, that is, Adverse Drug Events, is driving the growth of the global e-prescribing market.
  • The demand to maintain a check on opioid prescriptions is driving the growth of the industry, especially in the United States.
  • Untapped growth opportunities in many countries, both developed and developing, are driving the growth of the market.
  • The rising patient awareness and the increased need for reduced medical errors are aiding the market growth.
  • The growing demand for cost reduction, as well as improved healthcare solutions, is also boosting the market growth.
  • The rising competition between the key players is propelling the industry growth.
  • The rising cases of medical errors in chemotherapy have led to the increased adoption of e-prescriptions for oncology; thus, further aiding the growth of the global e-prescribing market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global e-prescribing market for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the products, delivery modes, usability, end uses, and major regions of e-prescribing.
  • It assesses the market based on SWOT and Porter’s Five Forces models.

The major key players in the global e-prescribing market include companies like General Electric Company, Epic Systems Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., NextGen Healthcare Inc., Athenahealth, Inc., Henry Schein, Inc., Drfirst, Inc., and Surescripts, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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