Global ePrescribing Market – Industry Trends and Forecast to 2030

ePrescribing Market Analysis and Size

The need for ePrescribing across the globe has been made possible by the growing use of technology in many aspects of healthcare. Other growth-promoting technical developments include creating products with greater performance capabilities and ease of deployment. These solutions boost patient compliance and organizational workflow by offering affordable generic formulations. Additional factors are projected to fuel the industry, such as the adoption of pro-public health government policies and significant upgrades to the healthcare system. All these factors will help the market to grow.

Data Bridge Market Research analyses that the ePrescribing market which was USD 1.77 billion in 2022, would rocket up to USD 8.41 billion by 2030, and is expected to undergo a CAGR of 21.5% during the forecast period 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

ePrescribing Market Scope and Segmentation  

Market Definition

E-prescribing, also known as electronic prescribing, is a technological framework that enables physicians and other medical practitioners to electronically write and send prescriptions to a participating pharmacy rather than using handwritten or faxed notes or calling in prescriptions. E-prescribing, also known as electronic prescribing, is a web or cloud-based solution that allows healthcare providers to generate digital prescriptions. It is a computer-based process for creating and sending accurate prescription orders to a hospital-based or standalone pharmacy. E-prescription software can automatically refill prescriptions, manage medications based on a patient's history, and integrate with an electronic medical record (EMR) system.

ePrescribing Market Dynamics

Drivers

• Increased adoption of EHR solutions

The need for EHR solutions is primarily driven by the government's expanding support for the adoption of EHR solutions. The implementation of electronic health records has simplified prescription filling in several ways. The integrating solutions offer a better availability of medical histories than a standalone e-prescribing system. The global COVID-19 outbreak has also resulted in an increase in the number of patients in hospitals, necessitating better patient data management. This is expected to boost demand for these solutions.

• Increasing E-prescribing in hospitals

Doctors are finding themselves better equipped with technology replacing something as basic but crucial in medicine as prescribing becomes more tech-savvy. A computer created, communicates, and filed out medical prescriptions is known as a "eprescribing." Its primary goal is to reduce the need of paper prescriptions and the danger of prescription error. These are the factors which propel the growth of the market.

Opportunities

• Development of e-prescribing technologies

The main issue fuelling the development of e-prescribing technologies is the escalating opioid crisis in the United States. While making it more challenging to engage in misuse or fraud, the electronic prescription in controlled medications (EPCS) system offers a transparent, secure method that makes it relatively simpler to prescribe various controlled substances to patients who genuinely require them. For instance, the opioid issue reached crisis proportions in 2018 and cost the United States more than USD 500 billion annually, according to surescipt projections.

Restraints/Challenges

• High cost of employment

The high cost of employment, security, and workflow issues and the increasing use of e-prescribing systems will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the eprescribing market.

The cost is not limited to only one time of purchase of system but also include recurrent expenses such as maintenance and support services.

This ePrescribing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ePrescribing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on ePrescribing Market

The COVID-19 pandemic won't have a direct effect on the ePrescribing market, but it will have an impact on the healthcare IT and EMR businesses, which will increase demand for e-prescribing tools both during and after the pandemic. The COVID-19 outbreak has led to an upsurge in teleconsultations. EHR, telemedicine, and e-prescribing functions are integrated to let prescribers build an interconnected network that ensures the usage of HCIT for patient diagnosis and medication prescription. The Drug Enforcement Administration's (DEA) rules permitting electronic prescription of restricted substances have also increased the frequency of electronic prescription transactions, as have the CDC's advice to use telemedicine services.

Recent Development

• In April 2020, DrFirst (US) partnered with ID.me (US) to help users of the company’s e-prescribe app to verify their identities within a few minutes. This is predictable to speed up the process for clinicians to prescribe drugs.
• In July 2019, NextGen Healthcare(US) announced its partnership with Optimize Rx (US) to provide real-time access to critical financial information, allowing providers to help patients choose appropriate medication plans per their coverage and budgets. This tool has been integrated with the company’s EHR workflow.
• 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. 

Global ePrescribing Market Scope

The ePrescribing market is segmented on the basis of product, usage mode, component, type of system, mode of delivery, substances, specialties and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Solutions
• Services
• Support
• Implementation
• Training
• Network

Component

• Hardware
• Software
• Services

 Type of System

• Stand-alone E-prescribing System
• Integrated E-prescribing System

 Usage Mode

• Handheld Device
• Computer-Based Devices

Mode of Delivery

• Web and Cloud-Based Solutions
• On-Premise Solutions

 Substances

• Controlled Substances
• Non-Controlled Substances

Specialties

• Oncology
• Sports Medicine
• Neurology
• Cardiology
• Others

 End-User

• Clinics
• Physicians
• Pharmacies
• Hospitals

ePrescribing Market Regional Analysis/Insights

The ePrescribing market is analyzed and market size insights and trends are provided by country, product, usage mode, component, type of system, mode of delivery, substances, specialties and end-user as referenced above.

The countries covered in the ePrescribing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the ePrescribing market owing to high number of government initiatives and incentives in the region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the rising health awareness among the people and growing demand of advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and ePrescribing Market Share Analysis

The ePrescribing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ePrescribing market.

Some of the major players operating in the ePrescribing market are:

• Epic Systems Corporation (U.S.)
• Cerner Corporation (U.S.)
• Allscripts Healthcare, LLC. (U.S.)
• NXGN Management, LLC. (U.S.)
• athenahealth, Inc. (U.S.)
• RelayHealth, LLC (U.S.)
• Henry Schein, Inc. (U.S.)
• General electric (U.S.)
• CPSI (U.S.)
• DrFirst (U.S.)
• Medical Information Technology, Inc. (U.S.)
• eClinicalWorks (U.S.)

Research Methodology: Global ePrescribing Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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