The global E-Prescribing Market size was valued at USD 2.18 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 25.8% during the forecast period, reaching a value of USD 5.73 billion by 2030.
E-Prescribing Market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2017 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2021 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2022 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
E-Prescribing, also known as electronic prescribing, refers to the digital transmission of prescription information from healthcare providers to pharmacies. It involves the use of specialized software and systems that enable healthcare professionals to electronically generate, transmit, and process prescription orders. E-Prescribing offers numerous benefits over traditional paper-based prescriptions, such as improved accuracy, enhanced patient safety, increased efficiency, and streamlined medication management.
By leveraging E-Prescribing technology, healthcare providers can electronically access a patient's medication history, check for potential drug interactions or allergies, and transmit prescriptions directly to pharmacies. This eliminates the need for handwritten prescriptions, reduces the risk of medication errors, and improves medication adherence. Additionally, E-Prescribing systems often integrate with electronic health records (EHRs) and other healthcare information systems, facilitating seamless communication and data sharing among healthcare providers, pharmacies, and patients. Overall, E-Prescribing plays a crucial role in advancing patient care, medication management, and the overall efficiency of the healthcare system.
MARKET DYNAMICS:
One significant driver is the growing emphasis on reducing medication errors and improving patient safety. E-Prescribing systems offer features such as real-time access to patient medication histories, drug interaction alerts, and allergy notifications, which help healthcare providers make informed prescribing decisions. This enhanced safety and accuracy contribute to the increasing adoption of E-Prescribing solutions across healthcare facilities.
Another driver is the need for increased operational efficiency and cost savings in healthcare organizations. E-Prescribing streamlines prescription workflows, eliminates manual processes, and reduces the chances of errors caused by illegible handwriting or incorrect dosage instructions. The automation and digitization provided by E-Prescribing systems save time, improve productivity, and contribute to overall cost reductions in medication management.
Despite the positive growth prospects, the E-Prescribing market also faces certain restraints. One major challenge is the initial implementation cost associated with adopting E-Prescribing systems. Healthcare organizations need to invest in software, hardware, and staff training to successfully integrate and utilize the technology. Additionally, concerns around data privacy and security pose a significant restraint to market growth, as E-Prescribing involves the electronic transmission of sensitive patient information. Addressing these concerns and ensuring robust data protection measures will be crucial for market expansion.
However, along with the challenges, the E-Prescribing market presents several opportunities. The increasing adoption of electronic health records (EHRs) and the integration of E-Prescribing capabilities within these systems offer a significant growth opportunity. Additionally, the rising focus on telehealth and remote patient care creates a demand for E-Prescribing solutions that enable seamless prescription transmission and medication management across virtual healthcare settings. Moreover, the integration of advanced technologies like artificial intelligence (AI) and machine learning (ML) into E-Prescribing systems has the potential to further enhance medication safety and optimize prescribing practices. These opportunities, coupled with ongoing advancements in healthcare technology, are expected to drive the growth of the E-Prescribing market in the coming years.
E-PRESCRIBING MARKET SEGMENTAL ANALYSIS
BY COMPONENT:
The software component plays a crucial role in E-Prescribing systems, providing the necessary tools for healthcare professionals to generate, transmit, and process electronic prescriptions. E-Prescribing software offers features like medication history access, drug interaction checks, and allergy alerts, enhancing medication safety and accuracy. As healthcare providers increasingly prioritize patient safety and efficient prescription management, the demand for E-Prescribing software is expected to rise.
In addition to software, services are another key component driving the E-Prescribing market. Services encompass various aspects, including implementation, training, support, and maintenance of E-Prescribing systems. As healthcare organizations adopt E-Prescribing solutions, they require assistance in successfully integrating the technology into their existing workflows and training their staff to utilize it effectively. E-Prescribing service providers play a crucial role in supporting these organizations throughout the implementation process and providing ongoing support to ensure smooth operations. The demand for E-Prescribing services is expected to grow as healthcare providers seek professional assistance to optimize their E-Prescribing systems and overcome implementation challenges.
BY DELIVERY MODE:
Web-based E-Prescribing systems provide healthcare professionals with the flexibility to access and utilize the software through web browsers, enabling seamless connectivity and ease of use. These systems offer convenience, as they can be accessed from various devices with an internet connection, allowing healthcare providers to prescribe medications from different locations.
Cloud-based E-Prescribing solutions have gained traction due to their scalability, cost-effectiveness, and data accessibility. With cloud-based systems, healthcare providers can securely store and access patient data and prescription information on remote servers, eliminating the need for on-site infrastructure and maintenance. The cloud-based approach enables real-time updates and facilitates collaboration among healthcare professionals, pharmacies, and patients, enhancing communication and patient care.
On-premise E-Prescribing systems, although less prevalent in recent years, still cater to specific requirements in certain healthcare settings. These systems involve locally installed software and infrastructure managed by the healthcare organization itself. On-premise solutions provide healthcare providers with direct control over data management and security, making them a preferred choice for organizations with strict regulatory compliance and data privacy concerns.
BY USAGE MODE:
Handheld devices, such as smartphones and tablets, have become increasingly popular in healthcare settings due to their portability and convenience. Healthcare professionals can use dedicated E-Prescribing applications on their handheld devices to access patient information, prescribe medications, and transmit prescriptions directly to pharmacies. The mobility provided by handheld devices enables healthcare providers to engage in E-Prescribing activities on-the-go, enhancing workflow efficiency and patient care.
Computer/Desktop usage mode continues to be a prominent factor in the E-Prescribing market, particularly in clinical and hospital settings. With desktop computers, healthcare professionals can access comprehensive E-Prescribing software, which often integrates with electronic health records (EHRs) and other clinical systems. Desktop platforms offer a larger screen size and more advanced functionalities, allowing for detailed patient medication reviews, drug interaction checks, and customization options.
BY END USER:
Hospitals, being key healthcare providers, contribute significantly to the E-Prescribing market. The implementation of E-Prescribing systems in hospitals streamlines medication management processes, improves patient safety, and enhances overall operational efficiency. E-Prescribing enables hospitals to access accurate patient medication histories, generate electronic prescriptions, and transmit them directly to pharmacies, reducing errors and ensuring timely medication administration.
Clinics, both independent and those associated with hospitals, also play a crucial role in the E-Prescribing market. E-Prescribing systems in clinics enhance prescription accuracy, enable faster medication refills, and improve patient satisfaction. Clinics often have specific workflow requirements, such as integration with electronic health records (EHRs) and patient management systems, which E-Prescribing solutions can address, leading to efficient prescription management and improved patient outcomes.
Pharmacies are another significant end user in the E-Prescribing market. E-Prescribing allows pharmacies to receive electronic prescriptions directly from healthcare providers, eliminating the need for manual data entry and reducing prescription errors. Pharmacies equipped with E-Prescribing capabilities can process prescriptions quickly, enhance medication dispensing accuracy, and provide better patient counseling and medication adherence support.
Besides hospitals, clinics, and pharmacies, other healthcare facilities, such as long-term care facilities and ambulatory surgical centers, also contribute to the E-Prescribing market. E-Prescribing systems cater to the unique requirements of these facilities, ensuring safe and efficient medication management for their patients.
REGIONAL ANALYSIS:
North America, as a mature market, has witnessed widespread adoption of E-Prescribing systems due to advanced healthcare infrastructure, government initiatives promoting digitization, and a focus on improving patient safety. Europe also exhibits significant E-Prescribing market growth, driven by initiatives to enhance healthcare efficiency, interoperability, and reduce medication errors.
Asia Pacific, with its expanding healthcare infrastructure and increasing digitization efforts, presents ample growth opportunities for the E-Prescribing market. Countries like China, India, and Japan are witnessing rapid adoption of E-Prescribing systems to streamline prescription management, enhance patient safety, and reduce healthcare costs.
Latin America and the Middle East and Africa regions are also experiencing steady growth in the E-Prescribing market. Government initiatives, investment in healthcare technology, and the need to improve healthcare access and quality contribute to the market's expansion in these regions.
COVID-19 IMPACT:
The COVID-19 pandemic has had a significant impact on the E-Prescribing market. The need for contactless healthcare solutions and remote patient care has accelerated the adoption of E-Prescribing systems. With lockdowns and social distancing measures in place, healthcare providers turned to electronic prescribing as a means to minimize physical contact and reduce the risk of virus transmission.
The pandemic highlighted the importance of efficient medication management and prescription accuracy. E-Prescribing systems, with their capabilities for real-time medication history access, drug interaction checks, and allergy alerts, have played a vital role in ensuring patient safety and minimizing medication errors during these challenging times.
Furthermore, the integration of E-Prescribing with telehealth services has facilitated seamless virtual consultations and prescription transmission. Healthcare providers have increasingly relied on E-Prescribing to remotely prescribe medications and transmit prescriptions directly to pharmacies, enabling patients to receive necessary medications without physical visits.
The COVID-19 pandemic has acted as a catalyst for the wider adoption of E-Prescribing systems, as healthcare providers recognized their benefits in ensuring safe and efficient prescription management. Moving forward, the increased reliance on digital health solutions is expected to continue, driving the growth and advancement of the E-Prescribing market in the post-pandemic era.
INDUSTRY ANALYSIS:
Mergers & Acquisitions
- In July 2022, NextGen Healthcare acquired InstaMed, a J.P. Morgan company.
- In February 2022, NextGen Healthcare partnered with Verato to incorporate patient matching into the NextGen Health Data Hub (HDH) platform.
- In December 2021, DrFirst acquired VisibilityRx, a provider of patient engagement and adherence solutions.
Product New Launches
- In September 2022, Surescripts launched Surescripts Connect, a new e-prescribing platform that is designed to be more secure and efficient.
- In June 2022, Altra Digital Health launched its new e-prescribing platform, Altra Connect.
- In April 2022, Oracle launched its new e-prescribing solution, Oracle HealthCare ePrescribing.
KEY MARKET PLAYERS:
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Epic Systems Corporation
- athenahealth, Inc.
- NextGen Healthcare, Inc.
- Practice Fusion, Inc.
- Surescripts
- DrFirst, Inc.
- GE Healthcare
- Medical Information Technology, Inc. (MEDITECH)
- Change Healthcare
- Greenway Health, LLC
- Henry Schein, Inc.
- Computer Programs and Systems, Inc. (CPSI)
- RelayHealth Corporation
- Amazing Charts LLC
- eClinicalWorks
- McKesson Corporation
- OptumRx, Inc.
- ScriptPro LLC
- DoseSpot, LLC
- AdvancedMD, Inc.
- eMDs, Inc.
- Micro Merchant Systems, Inc.
- DrChrono Inc.
Table of Contents
Executive Summary
Introduction
2.1. Market Definition
2.2. Market Scope
2.3. Research Methodology
2.4. Assumptions and Limitations
Market Overview
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunities
3.2. Market Trends
3.3. Regulatory Landscape
3.4. Impact of COVID-19 on the E-Prescribing Market
E-Prescribing Market Analysis, by Component
4.1. Software
4.2. Services
E-Prescribing Market Analysis, by Delivery Mode
5.1. Web-based
5.2. Cloud-based
5.3. On-premise
E-Prescribing Market Analysis, by End User
6.1. Hospitals
6.2. Clinics
6.3. Pharmacies
6.4. Others
E-Prescribing Market Analysis, by Region
7.1. North America
7.1.1. U.S.
7.1.2. Canada
7.1.3. Mexico
7.2. Europe
7.2.1. U.K.
7.2.2. Germany
7.2.3. France
7.2.4. Rest of Europe
7.3. Asia Pacific
7.3.1. China
7.3.2. Japan
7.3.3. India
7.3.4. Rest of Asia Pacific
7.4. Latin America
7.4.1. Brazil
7.4.2. Argentina
7.4.3. Rest of Latin America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. South Africa
7.5.3. Rest of Middle East and Africa
Competitive Landscape
8.1. Market Share Analysis
8.2. Competitive Strategies
8.3. Key Players
Conclusion
Appendix
References
E-Prescribing Market Segmentation
By Component:
- Software
- Services
By Delivery Mode:
- Web-based
- Cloud-based
- On-premise
By Usage Mode:
- Handheld Devices (e.g., smartphones, tablets)
- Computer/Desktop
By End User:
- Hospitals
- Clinics
- Pharmacies
- Others (long-term care facilities, ambulatory surgical centers, etc.)
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Reasons to Buy this Report
- Comprehensive Insights: Market research reports provide in-depth and comprehensive insights into various industries, markets, and sectors. These reports are prepared after extensive data collection, analysis, and interpretation, offering you valuable information and a clear understanding of market trends, dynamics, and opportunities.
- Future Predictions: Market research reports often include future data statistics, forecasts, and predictions. These predictions are based on rigorous analysis and modeling techniques, taking into account various factors such as market growth drivers, challenges, and emerging trends. By accessing these future data stats, you can make informed decisions and develop strategies that align with the projected market scenarios.
- Industry Analysis: Market research reports offer detailed industry analysis, including factors such as market size, market share, competitive landscape, and key players. These reports provide an overview of the industry's current status, growth potential, and competitive dynamics, enabling you to identify lucrative opportunities and stay ahead of the competition.
- Market Trends and Opportunities: By purchasing market research reports, you gain access to up-to-date information on market trends and emerging opportunities. These reports highlight the latest consumer preferences, technological advancements, regulatory changes, and other influential factors shaping the market landscape. Keeping track of these trends helps you identify potential growth areas and adapt your business strategies accordingly.
- Risk Mitigation: Investing in a market research report can help mitigate risks associated with market uncertainties. The reports provide insights into potential risks, challenges, and barriers to entry in specific markets or industries. With this knowledge, you can develop risk mitigation strategies, anticipate market fluctuations, and make informed decisions to minimize potential losses.
- Investment Decision Support: Market research reports are valuable tools for investors, venture capitalists, and financial institutions. These reports provide reliable and data-driven information that aids in investment decision-making processes. By analyzing market research reports, investors can evaluate the market potential, assess the feasibility of investment opportunities, and gauge the expected returns on investment.
- Product Development and Innovation: Market research reports offer insights into consumer preferences, needs, and demands. This information can be leveraged for product development and innovation. By understanding the market dynamics and consumer behavior, you can tailor your products or services to meet the evolving needs of your target audience, leading to enhanced customer satisfaction and market success.
- Strategic Planning: Market research reports serve as a foundation for strategic planning. They provide a comprehensive overview of the market landscape, competitive positioning, and growth potential. With this knowledge, you can develop effective business strategies, set realistic goals, and allocate resources efficiently. Strategic planning based on accurate market research helps optimize your operations and improve your chances of success.
- Market Entry and Expansion: For businesses looking to enter new markets or expand their existing operations, market research reports are indispensable. These reports provide insights into market dynamics, consumer behavior, regulatory frameworks, and competitive landscapes specific to the target markets. This information helps you assess the feasibility of market entry, identify potential obstacles, and develop market entry strategies that increase your chances of success.
- Evidence-Based Decision Making: Market research reports provide evidence-based data and analysis, enabling you to make informed decisions. Rather than relying on assumptions or guesswork, you can base your decisions on reliable information and market insights. Evidence-based decision making reduces the risk of costly mistakes and increases the likelihood of achieving your business objectives.
RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
|
Primary Research
|
Desk Research
|
Company Analysis
|
|
• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
|
• Company Website • Company Annual Reports • Paid Databases • Financial Reports
|
• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
|
Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
|
PRIMARY SOURCES |
DATA SOURCES |
|
• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
|
• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
|
Analyst Tools and Models:
|
BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
|
· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
E-Prescribing Market Dynamic Factors
Drivers:
- Growing emphasis on reducing medication errors and improving patient safety
- Increasing adoption of electronic health records (EHRs) and integrated healthcare systems
- Government initiatives promoting the adoption of E-Prescribing systems
- Demand for improved operational efficiency and cost savings in healthcare organizations
- Advancements in healthcare technology and digitization efforts
- Rising need for streamlined prescription workflows and medication management
Restraints:
- Initial implementation costs and infrastructure requirements
- Concerns regarding data privacy and security
- Resistance to change and lack of awareness among healthcare professionals
- Integration challenges with existing healthcare IT systems
- Fragmented healthcare systems and interoperability issues
Opportunities:
- Integration of E-Prescribing with telehealth and remote patient care services
- Expansion of E-Prescribing in emerging markets with growing healthcare infrastructure
- Advancements in artificial intelligence (AI) and machine learning (ML) for enhanced medication management
- Increasing focus on patient-centered care and personalized medicine
- Integration of E-Prescribing with mobile healthcare applications
Challenges:
- Adapting to evolving regulatory requirements and compliance standards
- Ensuring user-friendly and intuitive E-Prescribing interfaces for healthcare professionals
- Overcoming resistance from healthcare providers and stakeholders to adopt new technologies
- Addressing disparities in technology access and digital literacy
- Managing interoperability issues among different E-Prescribing systems and platforms
Frequently Asked Questions
