USD 2.1 billion
E-Prescribing Market Size, Share, Growth Analysis, By Product & Service (Solutions, Services), By Delivery Mode (Web- & Cloud-Based Solutions, On-Premises Solutions), By Substances, By Usage, By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35F2016 |
Region:
Global |
Published Date: November, 2024
Pages:
178
|Tables:
111
|Figures:
73
E-Prescribing Market Insights
Global E-Prescribing Market size was valued at USD 2.1 billion in 2022 and is poised to grow from USD 2.59 billion in 2023 to USD 13.93 billion by 2031, growing at a CAGR of 23.40% during the forecast period (2024-2031).
In recent times, the growth of e-prescribing market is increasing owing to the rising adoption of electronic prescribing for controlled substances (EPSC) and favorable government policies. Furthermore, the increasing awareness about patient safety is also fueling the growth of the market. During the COVID-19 pandemic, medical facilities were encouraged to change their process of offering services for reducing the spread of infection among the public. This situation also massively increased the demand for e-prescribing solutions because it highlighted the ability to get better access to prescription medicines. E-prescribing is also convenient for the patients as they don’t have to visit their physicians to get a physical prescription.
E-prescribing is a computerized method of producing and transmitting prescriptions directly from medical professionals to pharmacies. This technology enhances accuracy, reduces errors, and increases efficiency by digitalizing the procedure. The process also allows smooth incorporation across various medical systems, guaranteeing timely accessibility of medication and enhancing patient care. Widespread integration of e-prescribing will increase the speed of prescription process and enable smooth interaction among healthcare providers and patients. These factors are increasing the demand for e-prescribing, leading to the growth of the market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmacies
Fastest Growth
Handheld Devices
Growth Rate
23.40%
Global E-Prescribing Market ($ Bn)
Country Share for North America Region (%)
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E-Prescribing Market Segmental Analysis
Global E-Prescribing Market is segmented by Product & Service, Delivery Mode, Substances, Usage, End User, and Region. Based on Product & Service, the market is segmented into Solutions, and Services. Based on Delivery Mode, the market is segmented into Web- & Cloud-Based Solutions, and On-Premises Solutions. Based on Substances, the market is segmented into Controlled Substances, and Non-Controlled Substances. Based on Usage, the market is segmented into Handheld Devices, and Computer-Based Devices. Based on End User, the market is segmented into Hospitals, Office-Based Physicians, and Pharmacies. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Product
Based on product, the market is segmented into solutions and services. The solutions segment in dominating the e-prescribing market with maximum market share. This growth in the segment is primarily due to the increasing penetration and high expense of the software. The segment can be further divided into integrated and standalone solutions. The integrated software is an assembly of software across two or more functions. They are designed to work on similar programs. The standalone software is designed for addressing only a particular operation requirement, like prescribing patient medicines. Solutions also include features like drug interaction checks, allergy alarms, and recommendations for guaranteeing accurate and safe prescriptions. These factors are increasing the growth of the segment in the e-prescribing market.
The service segment is witnessing the fastest growth in the e-prescribing market. This rapid growth can be attributed to the accurate interaction between doctors and pharmacists. The e-prescribing services sends electronic prescriptions from GP surgeries to pharmacies. They also provide extended patient engagement and data management applications & analysis tools. The service segment can be sub divided into support, implementation, training, and network. The demand for the service segment is rapidly increasing as it is helping in smooth communications and operating e-prescribing software efficiently. The EHRs and e-prescribing work collaboratively to improve the prescription procedure and enhance interaction among pharmacists and medical professionals. These factors are increasing the growth of the service segment in the e-prescribing market.
Analysis by Delivery Mode
Based on delivery mode, the e-prescribing market is segmented into cloud-based and on-premises based. The cloud-based segment is dominating the market with maximum market share. This huge growth in the market is mainly due to the minimized expenses in comparison with the on-premises systems. The cloud platform is an appealing option for independent practitioners, small clinics, or physician offices. The cloud-based segment is also ideal for community hospitals, which cannot pay the initial expenses of the on-premises systems. Some of the health IT organizations that provide cloud-based solutions to the users are Cerner, Athenahealth, Allscripts, and eClinicalWorks. These factors are increasing the popularity of the cloud-based segment among small clinics and hospitals, leading to the growth of the market.
The on-premises segment is witnessing the fastest growth in the e-prescribing market. This rapid growth in the segment is mainly due to their features like dependability, security, and efficiency. The on-premises systems are a more dependable choice for large medical systems and organizations. This is because they have to store huge amounts of confidential data in secure locations. The growing demand for data security for secured sharing is increasing the demand for on-premises segment. Furthermore, more expenditure on digitalization by healthcare facilities is also helping in the growth of the segment. Two major players who are providing on-premises solutions in the e-prescribing market are Epic and Cerner Corporation.
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E-Prescribing Market Regional Insights
North America is dominating the e-prescribing market with the largest market share. This region is leading the market as it has an extremely advanced medical infrastructure and strong emphasis on technological development. This is creating a favorable setting for the adoption of e-prescribing systems. Furthermore, favorable government initiatives in the region like providing better reimbursement facilities are also fueling the growth of the market. These initiatives help in enhancing patient safety, minimizing medication errors, and improving medical efficiency. Furthermore, the presence of well-established pharmaceutical companies and huge patient base with chronic diseases are increasing the demand for smooth prescription procedures, driving the growth of the market in North America.
Europe is witnessing the fastest growth in the e-prescribing market. The market in this region is rapidly growing because the medical sector is investing in the advancement of technologies in healthcare facilities. Furthermore, many market players are also engaging in partnerships and collaborations to expand their market reach, fueling the growth of the market. The region also has strict regulatory policies that prevent the medical sector from committing medical errors, this is also encouraging them to adopt e-prescribing. The features of e-prescribing like better security in data management and accuracy is prescribing are increasing its demand in this region. These factors are propelling the growth of the e-prescribing market in Europe.
Global E-Prescribing Market Market By Geography
- Largest
- Fastest
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E-Prescribing Market Dynamics
Drivers
Increasing Adoption of EHR Solutions
- The necessity for EHR solutions is mainly boosted by the government's growing support for the adoption of EHR solutions and the need to manage the rapidly rising healthcare expenses. The incorporation of electronic health records has streamlined prescription filling in various ways. The incorporation of solutions provides better availability of medical histories compared to a standalone e-prescribing system. This is increasing the demand for these solutions.
Growing Demand for E-Prescription in Hospitals
- Doctors are finding themselves better prepared with technology substituting something basic but extremely vital in medical care. Prescribing medicine has become much easier. A computer created, communicated, and filed out medical prescription is known as an e-prescription. Its main objective is to minimize the necessity of paper prescriptions and the risk of prescription error. These are the factors which are boosting the growth of the market.
Restraints
High Expense of Employment
- The lack of technological awareness, high expense of employment, security, workflow issues, and growing utilization of e-prescribing systems will create hindrance to the market's growth rate. The lack of skilled professionals and absence of medical infrastructure in emerging economies is creating difficulties for the growth of the e-prescribing market.
High Expense of Implementation and Maintenance
- Irrespective of the growing usage of e-prescribing systems in clinical applications, there are many factors that are restricting the adoption of these solutions. One of the leading factors preventing the growth of the market is the high expense related to the incorporation and maintenance of e-prescription integrated EHR. Many developing economies are facing challenges in the adoption of such solutions due to their high price. The lack of health care IT support in several developing economies of the world is another important factor hindering market growth.
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E-Prescribing Market Competitive Landscape
The e-prescribing market is extremely concentrated. The market is highly competitive due to the presence of many medium and small-sized organizations. These companies provide a wide range of generic and OTC drugs to fulfill customer needs. To gain a competitive edge and increase their market shares, companies are emphasizing on strategies like product differentiation and distribution agreements. They are also engaging in partnerships and collaborations with end-users. Companies are also following tactics like aggressive pricing, online marketing, and strategic acquisitions for geographical and portfolio expansion.
Top Player’s Company Profile
- Epic Systems Corporation (US)
- Surescripts-Rxhub, LLC (US)
- Henry Schein, Inc. (US)
- DRFIRST, Inc. (US)
- DrChrono (US)
- MDToolbox (US)
- eClinicalWorks (US)
- Renaissance Health (US)
- Moderna Therapeutics (US)
- MediMobile (US)
- ePrescribeRx (US)
- HealthWave (US)
- RxNT (US)
- DrChrono (US)
- MediLedger Network (US)
- Sunknowledge Services Inc. (US)
- PointClickCare (Canada)
- RxVantage (US)
Recent Developments
- In November 2023, TITAN became the first patient medical record system for successfully implementing Electronic Prescription Services in Wales. This will enable GPs to send online prescriptions securely.
- In May 2023, Fred IT received the contract for delivering Australia's national e-prescribing delivery service. They will deliver the service through eRx Script Exchange.
- In July 2023, the West Bengal Health Department announced the initiation of e-prescription at all state-operated medical colleges and government hospitals. The objective of this initiative is to improve patient care quality.
E-Prescribing Key Market Trends
- Advancements in E-Prescribing Technologies: The main issues 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.
- Increasing Patient Safety and Reduce Errors: E-prescribing systems reduce errors like illegible handwriting and incorrect dosages, which can lead to harmful drug events and compromise patient health. E-prescribing manages these challenges by offering clear and electronically generated prescriptions that can be easily understood by pharmacists and healthcare providers. These systems help in averting possibly harmful medication combinations with built-in checks for drug interactions and allergies.
E-Prescribing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global e-prescribing market is growing exponentially because they are easy to use, secure, and dependable. They also reduce medical errors compared to handwritten prescriptions. E-prescribing also allows smooth interaction between healthcare providers and pharmacists so that they can understand the requirements of the patients. Government bodies in many regions are also investing in the advancement of e-prescribing to reduce fatalities in medical and improve patient outcomes. Market leaders are constantly engaging in collaboration, partnership, acquisition & mergers, to increase the development of e-prescribing. This is also helping them to increase their market presence, leading to the expansion of the e-prescribing market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.1 billion |
| Market size value in 2031 | USD 13.93 billion |
| Growth Rate | 23.40% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on E-Prescribing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on E-Prescribing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the E-Prescribing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the E-Prescribing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the E-Prescribing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the E-Prescribing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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