E-prescribing is referred to as the transmission of medical prescription from a physician to the pharmacist or patient via an electronic medium. Unlike traditional handwritten prescriptions, the medical practitioner can type the name of the drugs in any digital device such as laptop, tablet, or mobile phone. A special software has to be installed in the devices from both end which ensures the secure and timely transmission of the prescription.
Global E-Prescribing (e-Rx) Market- Overview
The global e-prescribing (e-Rx) market is anticipated to amplify with a significant CAGR over the forecast period of 2022-2030.
The widespread technological innovation in the field, rising pervasiveness of various ailments, and growing R&D investments in the field are primarily augmenting the outlook of this business sphere.
Also, surging focus on reducing human errors in the medical field and growing healthcare expenditure are adding momentum to the progression of this industry vertical.
Alongside, widespread internet proliferation, rise in the number of hospitals across the globe, and surging digital literacy are adding traction to the development of this industry.
On the contrary, dearth of skilled professionals in the field and lack of adequate technological infrastructure across various nations are hindering the remuneration scope of this marketplace.
Global E-Prescribing (e-Rx) Market- Key trends
Emergence of the COVID-19 pandemic is aiding industry expansion
The onset of the COVID-19 pandemic brought about new transformations in the healthcare sector. Various governments pushed the adoption of EHR solutions as a measure to reduce the escalating healthcare costs. Moreover, the use of e-prescriptions also reduced the physical contact between the practitioner and pharmacists, thereby keeping the coronavirus infection rates at bay. This in turn is adding traction to the growth of this market vertical.
High deployment costs pertaining to e-prescription solutions is slowing industry progression
The high costs pertaining to the installation of EHR solutions is one of the major factors hindering the remuneration scope of this marketplace. The cost in not merely limited to the purchasing of the software but also involves the activation, maintainece, and support services. Moreover, it also requires highly skilled professionals to efficient operate these systems. This makes it difficult for smaller hospitals and clinics to adopt these highly advanced e-prescription solutions.
Global E-Prescribing (e-Rx) Market- Segmental assessment
By Production
• Solutions
• Services
By Delivery Mode
• Web/Cloud Based
• On Premise
By End Use
• Hospitals
• Office based Physicians
• Pharmacy
By Usage Methods
• Handheld
• Computer based devices
By Substances
• Controlled
• Non-Controlled
By Specialties
• Oncology
• Sports Medicine
• Neurology
• Cardiology
• Others
Global E-Prescribing (e-Rx) Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, North America is projected to capture a substantial revenue share over the projected timeline of 2022-2030. This is attributable to the rising healthcare expenditure, growing adoption of EHR solutions, and widespread technological advancements in the field.
Global E-Prescribing (e-Rx) Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this business vertical 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.
Notably, in June 2019, Allscripts announced the acquisition of ZappRx to enhance its offerings in the field of EHR solutions.
Report scope
Global E-Prescribing (e-Rx) Market: Historical Years- 2018-2021
Global E-Prescribing (e-Rx) Market: Forecast Years- 2022-2030
Key segments reported-
• By Production (Solutions and Services)
• By Delivery Mode (Web/Cloud Based and On Premise)
• By End Use (Hospitals, Office based Physicians, and Pharmacy)
• By Usage Methods (Handheld and Computer based devices)
• By Substances (Controlled and Non-Controlled)
• By Specialties (Oncology, Sports Medicine, Neurology, Cardiology, and Others)
Major regions and countries covered-
• North America (U.S., Canada, and Mexico)
• Latin America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- 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.
The main goals of report are:
- To examine and assignment the extent of the international market for the market sector.
- To Researching the important gamers globally, their SWOT analysis, market value, and market share.
- To identify, describe, and mission market based totally on type, quit use, and geography.
- To take a look at the market advantages, challenges, dangers, and constraints in the world’s principal regions.
- To pick out key traits and variables that are advertising or inhibiting market growth.
- To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
- To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
- To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
- To strategically discover the essential gamers and completely take a look at their enlargement plans.
