E-Prescription Solutions Market Size, Share Global Analysis Report, , 2020 – 2026

Industry Insights

[213+ Pages Report] Facts and Factors has recently published the report titled “E-Prescribing Solutions Market” which illustrates that the global e-prescribing solution market was estimated at around USD 1.23 Billion in 2020, and it is expected to provide revenue of about USD 4.38 Billion by end of 2026, developing at a CAGR of around 23.5% between 2021 and 2026.

Global E-Prescribing Solutions Market: Overview

Electronic prescribing or E-prescription systems is the process of validating electronically generated medical prescriptions for communicating between various legs of the medical sectors such as the prescriber, pharmacy, and the dispenser in some cases. The system facilitates the user to generate the latest prescription by electronic means in order to map out clinical errors. This further entails the physician and the prescribing physician to send an electronic note directly to a pharmacy store which makes the consumer cushioned into being provided a greater quality of care and avoid any incidents of puzzlement.

Global E-Prescribing Solutions Market: Growth Factor

Certain government bodies are adopting and increasing funds required for the installation of Electronic Health Records as standard practice in order to curb the demands for increasing healthcare costs. Within medication errors, wrongly interpreted prescriptions are the most revered cause for healthcare professionals. Additionally, reasons such as increasing number of incentive programs, risen focus of decreasing medical errors, and an overall increase in medical applications will drive the market to a greater footprint. Furthermore, the advent of a global pandemic calls for the general need of universal solutions for prescribing and dispensing medical accessories optimally.

With a rise in hospitals across the world implementing EHR system capabilities in their activities, the implementation of e-prescribing will witness a higher growth. Improvement in the healthcare industry coupled with a rise of IT services and solutions in the sectors will drive the growth of the market in a tandem manner. However, the initial cost and risks associated with security and privacy issues related to patients and less technical expertise in the field will hinder the market growth to a certain extent. Additionally, inadequate IT knowledge, less access to high-speed broadband services in developing markets will further damp the market.

Global E-Prescribing Solutions Market: Segmentation

The global e-prescription solutions market is segregated based on components, mode of delivery, end-users, and region.

On the basis of components, the market can be divided into solutions and services. The solution sub-segment can be further divided into integrated and standalone solution and the service sub-segment can be divided among support and maintenance, network, implementation, and training services. The solution segment holds the larger market share owing to a rise in undiscovered opportunities in the sector. However, the service sector will witness the highest growing CAGR during the forecast period. On the basis of mode of delivery, the market can be divided into on-premises solutions and web/cloud-based solutions. Web/Cloud-based solutions account for the major market share owing to low operating costs for a range of medical practicing institution and hospitals, the ease of usability along with rapid response systems. However, for larger healthcare organizations, on-premises solutions are preferred. On the basis of end-users, the market can be divided upon hospitals, pharmacies & home-based solutions. Hospitals account for the largest market share owing to an increased implementation in the sector. However, an over change from hand-written prescription to e-prescription will take longer than expected as the current systems do not support the requirement as needed by the current workflow.

Report Scope

Global E-Prescribing Solutions Market: Regional Analysis

North America is expected to witness to occupy the largest market share in terms of revenue generation due to an increase in local government initiatives flushed with monetary incentives. Additionally, government preference toward EHR and e-prescribing solutions coupled with stringent regulations over hand-written prescriptions will drive the market growth in the region. Furthermore, with the implementation of Health Information Technology for Economic and Clinical Health (HITECH) Act and National Council for Prescription Drugs Programs the use of e-prescribing solutions over all sectors of population in the region increases, which further drives the market’s foothold.

Europe will account for the second-largest market during the forecast period due to the steps undertaken by the EU that will permit e-prescriptions to be accepted by other member states, among others.

Global E-Prescribing Solutions Market: Competitive Players

Some main participants of the global e-prescription solution market are :

• Cerner Corporation
• Athenahealth
• RelayHealth LLC
• Henry Schein
• Healthfusion
• Practice Fusion Inc.
• CRF Health
• DATARAK International Inc.
• eResearch Technology Inc.
• Bioclinica Inc.

Global E-Prescribing Solutions Market: By Component Segment Analysis

• Solutions
  • Integrated Solutions
  • Standalone Solutions
• Services
  • Support and Maintenance
  • Network
  • Implementation
  • Training

Global E-Prescribing Solutions Market: By Mode Of Delivery Segment Analysis

• On-Premises Solutions
• Web/Cloud-based Solutions

Global E-Prescribing Solutions Market: By End-User Segment Analysis

• Hospitals
• Pharmacies
• Home-based

Global E-Prescribing Solutions Market: By Regional Segment Analysis

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA