Global E-Prescribing Market

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 News

  • 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.
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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).

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.  '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)'

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.

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.

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.

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Global E-Prescribing Market

Report ID: SQMIG35F2016

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