Increase in focus on lowering down fraud and abuse of controlled substances, requirement to reduce escalating healthcare costs, and supportive government initiatives drive the global e-prescribing market.
However, expensive systems and issues related to workflow & security hinder the market growth. On the other hand, untapped potential in emerging nations in Asia-Pacific would create new opportunities in coming years.
According to the report, the global e-prescribing market garnered $885.6 million in 2018, and is expected to generate $4.15 billion by 2026, registering a CAGR of 21.4% from 2019 to 2026.
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Covid-19 scenario-
- The outbreak of covid-19 led to increase in demand for electronic prescribing solutions, since there’s been a steep rise in need for improved patient safety and fewer medication errors often found in handwritten prescriptions.
- This trend is most likely to continue post-pandemic as well, as it aids in evading the hassle of visiting doctors’ chambers in person, thereby catering to the social distancing norms as well.
The global e-prescribing market is analyzed across component, deployment, end-user, and region. Based on component, the solutions segment accounted for more than four-fifths of the total market share in 2018, and is anticipated to lead the trail by 2026. The services segment, on the other hand, would register the fastest CAGR of 23.3% from 2019 to 2026.
Based on deployment, the web and cloud-based segment contributed to more than half of the total market revenue in 2018, and is projected to retain its dominance throughout the forecast period. This segment is also estimated to exhibit the fastest CAGR of 23.7% by the end of 2026.
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Based on geography, North America held the highest market share in 2018, generating nearly two-fifths of the global e-prescribing market. Simultaneously, the region across Asia-Pacific would manifest the fastest CAGR of 24.3% throughout the forecast period. The other two regions covered in the report include Europe and LAMEA.
The key market players analyzed in the global e-prescribing market report include Allscripts Healthcare, LLC, Athenahealth, Inc., Cerner Corporation, Change Healthcare, DrFirst.com, Inc., eClinicalWorks, Epic Systems Corporation, Medical Information Technology, Inc., Practice Fusion, Inc., and Surescripts. These market players have implemented several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
Key Benefits for Stakeholders:
- This study includes the e-prescribing market opportunity, analysis, trends, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the e-prescribing industry.
- The e-prescribing market share is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the e-prescribing market.
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