Methodology:
The study involved four major activities in estimating the size of the global ePrescribing market. Exhaustive secondary research was done to collect information on the utilization of different solutions and their regional utilization trends. Industry experts further validated the data obtained through secondary research through primary research.
Furthermore, the market size estimates and forecast provided in this study are derived through a mix of the bottom-up approach (country-level adoption of various EHR solutions and utilization of ePrescribing funcitonality) and top-down approach (assessment of utilization/adoption/penetration trends, by type of product& service, delivery mode, end user, and region). After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments.
Secondary Research:
Various secondary sources such as the World Health Organization (WHO), Healthcare Information and Management Systems Society (HIMSS), National Association of Healthcare Quality, California Association of Public Hospitals and Health Systems (CAPH), Centers for Medicare and Medicaid Services (CMS), RAND Europe, Australian Digital Health Agency, annual reports/SEC filings as well as investor presentations and press releases of key players have been used to identify and collect information useful for the study of this market.
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Primary Research:
Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess the dynamics of this market. The primary sources from the supply side include CEOs, vice presidents, marketing and sales directors, business development managers, technology and innovation directors, and key opinion leaders. Primary sources from the demand side include personnel from hospitals, ambulatory care centers, clinics, and pharmacies.
COVID-19 Impact on ePrescribing Market:
The COVID-19 pandemic will not directly impact the e-prescribing market; however, its impact on the healthcare IT and the EMR markets will drive the demand for e-prescribing solutions during and after the global pandemic. Due to the COVID-19 outbreak, the number of teleconsultations has increased. The integration of EHR, telemedicine, and e-prescribing functionalities aid prescribers in creating an interconnected network that ensures the use of HCIT to diagnose and prescribe medicines for patients. In addition, recommendations by the CDC to use telemedicine services and the Drug Enforcement Administration (DEA) regulations for the electronic prescription of controlled substances have increased the number of electronic prescription transactions.
Strategies adopted by EHR and EMR vendors during COVID-19:
# Cerner Corporation (US) integrated its EHR platform with telehealth capabilities, which would help improve patient access to healthcare from home.
# eClinicalWorks (US) integrated its EHR solution with TeleVisits to help with virtual patient care. TeleVisits is a secure platform that uses existing equipment and webcams to diagnose patients remotely.
# Allscripts (US) implemented telehealth solutions through its EHR patient engagement platform, which would enable its clients to access virtual care services. In March 2020, Allscripts had provided telehealth services to over 100 customers.
Drivers: Increased adoption of EHR solutions
Growing government support for the adoption of EHR solutions and the need to curtail the escalating healthcare costs are the major factors driving the demand for such solutions. In addition, the COVID-19 outbreak worldwide has led to a larger patient volume in hospitals and the need to better manage patient data. This is expected to further drive the demand for these solutions.
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North America will continue to dominate the ePrescribing market in 2025
In 2019, the large share of this North American region can be attributed to the stringent legislative and accreditation requirements regarding healthcare, high adoption of HCIT technologies, regulatory requirements regarding patient safety, and the presence of a large number of e-prescribing solution providers in the region.
Prominent players in the global e-prescribing market are Epic Systems Corporation (US), Cerner Corporation (US), Allscripts (US), NextGen Healthcare (US), athenahealth, Inc. (US), RelayHealth, LLC (US), Henry Schein, Inc. (US), GE Healthcare (US), Computer Programs and Systems Inc. (US), DrFirst, Inc. (US), Surescripts-RxHub, LLC (US), and Medical Information Technology, Inc. (US).
