17-May-2021 | Facts and Factors
As per a recently issued market research report by Facts & Factors, the global e-prescription market was about USD 1.23 Billion in 2020, with sales value projected to hit around USD 4.38 Billion by the end of 2026 and expected to register an excellent 23.5% CAGR during 2021 to 2026.
A recent study found out that more than 70% of prescription errors in the medical sector are made by wrongful interpretation of handwritten prescriptions between the consumer and the pharmacy. In order to check such errors, several government bodies across the world are opting for EHR solutions that will make e-prescribing services less of a hassle. Furthermore, factors pertaining toward increased funding for e-prescribing solutions on a global scale, incentivized programs for adaption of EHR & e-prescribing, rise of medical errors and more will drive the growth of the market to a certain extent.
Browse the full “E-Prescription Solutions Market By Component (Solutions & Services), By Mode Of Delivery (On-Premises & Web/Cloud-based), By End-User (Hospitals, Pharmacies, & Home-based), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/e-prescription-solutions-market.
The improvement in the IT sector has given rise to many prominent services in the EHR services which leads to an ease of access for e-prescribing services on a larger scale. Furthermore, the rise of a global pandemic and the incredible aftermath will call for a universally accepted method of prescriptions which will save time and efforts for easy disposal of medicines and thereby, propel the footprint of the global E-prescribing solution market. However, the high additional costs associated with the technology and the lack of expertise in IT will hinder the growth of the market to a certain extent.
Market Dynamics
The advent of EHR implementation across various medical institutes will help e-prescribing solutions ease the business. Corporations such as Cerner Corporation based in the U.S Corporation integrated their EHR platform with telehealth abilities which further helped their users access better patient care from home. Additionally, eClinicalWorks integrated their EHR systems with e-visits capabilities which let consumers hold virtual patient care. Such collaborative advancements have been ensuring the implementation of e-prescribing solutions and promoting EHR services in tandem.
The E-Prescribing Solution Market can be divided into services and solutions on the basis of components. The solution sub-segment can be further divided into integrated and standalone solutions and the service sub-segment can be divided among support and maintenance, network, implementation, and training services. The solution subcategory is expected to occupy a larger market share due to the functionality and usability in the untapped sector. The E-Prescribing Solution Market can be further broken down into on-premises solutions and web/cloud-based solutions on the basis of mode of delivery. The web/cloud-based segment accounts for the larger market share owing to the quick solutions and practicality. Larger organizations opt for on-premises solutions for similar groundwork.
North America Is Expected To Witness The Highest Growing CAGR In The Region
North America is expected to occupy the highest market share in terms of revenue generation due to a potential rise in spending by local government and authoritative bodies coupled with flush monetary benefits. A recent trend indicated additional spending on implementing EHR systems across the region which will further make the usability of e-prescribing solution an optimal task. Furthermore, national policies aimed at reducing prescription errors along with the outreach potential will drive the market footprint in the region.
Europe will witness the second-largest market growth due to the proactive approach taken by the EU.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 1.23 Billion |
Projected Market Size in 2026 |
USD 4.38 Billion |
CAGR Growth Rate |
23.5% CAGR |
Base Year |
2020 |
Forecast Years |
2020-2026 |
Key Market Players |
Cerner Corporation, Athenahealth, RelayHealth LLC, Henry Schein, Healthfusion, Practice Fusion, Inc., CRF Health, DATARAK International, Inc., eResearch Technology, Inc., and Bioclinica, Inc., and Others |
Key Segment |
By Component, Mode, End-User, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
Request customized purchase options to meet your research needs.Explore purchase options |
Top Market Players
Some of the major players in the e-prescribing solution markets are Cerner Corporation, Athenahealth, RelayHealth LLC, Henry Schein, and Healthfusion, among others.
The global e-prescription solution market is segmented as follows:
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
- 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
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com
