“The global E-Prescribing Market is projected to reach USD 1,403.2 Million by 2021 at a CAGR of 20.8% during the forecast period.”

Factors such as the government initiatives and incentive programs, rising focus on the reduction of fraud and abuse of controlled substances, focus on reducing medical errors, and the need to curtail escalating healthcare costs are driving the market. However, the high cost of deployment, reluctance to adopt new technologies, and security & workflow issues are the factors restraining the growth of this market. The rapid growth in the developing countries across APAC is expected to provide an opportunity for revenue generation in the market.

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Global Industry Segmentation:-

On the basis of product, the e-prescribing services segment is expected to witness the highest growth during the forecast period. The high growth rate of the e-prescribing services segment can be attributed to the increasing adoption of e-prescribing that lead to a growing demand for training & education services; stringent regulations that have increased the application of implementation services for the validation & verification of hardware & software; and the need for frequent support and maintenance.

Based on delivery mode, the web & cloud-based segment is expected to dominate the market, with the highest growth rate during the forecast period. This growth of web & cloud-based segment can be primarily attributed to the improved performance and reliability by avoiding long deployment cycles, minimized upfront investments without incurring high infrastructure costs as the user can access the software from any compatible system using an access id or username and password, and that it does not require any complicated installation or implementation. The market is witnessing a shift from on-premise systems to web-hosted deployment of e-prescribing solutions.

On the basis of end user, the hospitals segment is expected to grow at the highest rate during the forecast period. The major factors contributing to the high growth of this segment are the rising adoption rate of the e-prescribing solutions by hospitals in the U.S. and Europe, growing need to improve the profitability of healthcare operations, and growing focus to improve patient safety and advantages of e-prescribing over conventional handwritten prescribing systems. The government initiatives to improve the quality of care delivered to patients and curtailing the soaring healthcare costs are also driving the adoption of e-prescribing solutions in hospitals.

Geographical Reach:

Asia-Pacific possesses lucrative growth potential for the e-prescribing market during the forecast period. The high growth of this region can be attributed to healthcare organizations in the Asia-Pacific region that are actively moving towards digitization with a focus on streamlining their entire workflow and ensuring patient safety, a high share of the geriatric population resulting in significant growth in the prevalence of chronic diseases and increasing the burden of healthcare providers. The hospitals in Japan are widely adopting best practices such as healthcare information exchange, e-prescribing, and electronic health record systems to provide quality care to patients.

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The market is consolidated at the top. Small market players operating at regional and local levels are challenging the market shares of leading players. In order to maintain their market shares, leading players are continuously signing contracts of agreements, collaborations, and partnerships. Increasing competition in this market is expected to drive innovation, thereby helping the industry to overcome the existing challenge of lack of technology awareness among end users.

Target Audience

• Providers of e-prescribing systems and solutions
• E-prescribing services providers
• Hospitals & clinics
• Pharmaceuticals
• E-prescribing vendors
• Healthcare insurance providers
• Market research and consulting firms
• Venture capitalists and investors

Scope of the Report:

E-prescribing or electronic prescribing is a technology system that sanctions physicians and other medical practitioners to write and send prescriptions to a participating pharmacy electronically as a substitute for using handwritten, faxed notes, and calling in prescriptions. There are multiple approaches and permutations in e-prescribing on the basis of solutions and services provided in the market. The report covers the global market size from 2014 to 2021.