What is the global market size of E-Prescription Market?

Global E-Prescription Market size was valued at USD 2.28 billion in 2021 and is poised to grow from USD 2.89 billion in 2022 to USD 24.5 billion by 2030, growing at a CAGR of 26.8% in the forecast period (2023-2030).

E-Prescription Market Size, Share, Growth Analysis, By Product(Solutions, Services), By Delivery Mode(Cloud based, Premises based.), By End Use(Hospital, office Based physician, pharmacy), By Prescription Type(Controlled substance and Non controlled substance), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global E-Prescription Market?

Global E-Prescription Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Cerner Corporation', 'Allscripts Healthcare Solutions, Inc.', 'DrFirst, Inc.', 'Surescripts', 'Practice Fusion, Inc.', 'Medical Information Technology, Inc. (MEDITECH)', 'Henry Schein Medical Systems, Inc.', 'Athenahealth, Inc.', 'Change Healthcare', 'eClinicalWorks', 'GE Healthcare', 'Quality Systems, Inc.', 'Epic Systems Corporation', 'NextGen Healthcare', 'Computer Programs and Systems, Inc. (CPSI)', 'McKesson Corporation', 'AdvancedMD, Inc.', 'Vitera Healthcare Solutions, LLC', 'Greenway Health LLC', 'RXNT'

Report ID: SQMIG35F2007 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 113 | Figures: 77

E-Prescription Market Dynamics

E-Prescription Market Driver

Increasing Initiatives to Eliminate Adverse Drug Events (ADEs) and Medical Errors

Medication errors can have adverse effects on a patient’s health Healthcare professionals can access patient medical histories, medication information, and diagnoses through the use of e-prescribing systems, improving patient safety by preventing or minimising medical errors. Therefore, the prevalence of medical errors and drug side effects will rise globally, which will accelerate the implementation of e-prescribing systems.

E-Prescription Market Restraint

High Cost Associated with the Implementation and Maintenance of Integrated E-Prescribing Solutions

Despite the fact that e-prescribing systems are being used more frequently in clinical settings, there are several limitations preventing wider adoption of these technologies. The high cost of e-prescription integrated HER implementation and maintenance is one of the main reasons limiting the market's growth. Due to their high cost, such solutions are finding it difficult to be adopted in many developing economies. Another significant element limiting market expansion is the lack of health care IT support in many emerging nations.

E-Prescription Market Report Snapshots

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E-Prescription Market size was valued at USD 2.28 billion in 2019 and is poised to grow from USD 2.89 billion in 2023 to USD 24.5 billion by 2031, growing at a CAGR of 26.8% in the forecast period (2024-2031).

E-Prescription Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Cerner Corporation', 'Allscripts Healthcare Solutions, Inc.', 'DrFirst, Inc.', 'Surescripts', 'Practice Fusion, Inc.', 'Medical Information Technology, Inc. (MEDITECH)', 'Henry Schein Medical Systems, Inc.', 'Athenahealth, Inc.', 'Change Healthcare', 'eClinicalWorks', 'GE Healthcare', 'Quality Systems, Inc.', 'Epic Systems Corporation', 'NextGen Healthcare', 'Computer Programs and Systems, Inc. (CPSI)', 'McKesson Corporation', 'AdvancedMD, Inc.', 'Vitera Healthcare Solutions, LLC', 'Greenway Health LLC', 'RXNT'

Increasing Initiatives to Eliminate Adverse Drug Events (ADEs) and Medical Errors

The market will grow greatly as a result of the e-prescribing software being integrated into EHR solutions. Clinical notes, laboratory data, and a wide spectrum of clinical decision assistance are just a few benefits of integrated EHRs that standalone systems do not have. E-prescription with connected EHRs improves patient medication histories and pharmacy benefits information availability, making potentially life-saving drug data instantly accessible. Prescription mistakes have been significantly decreased by EHR-based systems in community-based medical practises, which has increased product adoption and boosted market growth over the course of the projection period. Another important element boosting the market is the government’s growing initiatives to deploy integrated EHR across numerous hospitals.

North America dominated the market in 2021, owing to the healthcare industry’s growing digitalization, favourable government policies, and a flexible regulatory environment. Regional expansion will also be aided in the predicted period by rising private and public investment for the implementation of integrated EHRs. For instance, the Cooperative Agreement Notice of Funding Opportunity was published by the Office of the National Coordinator for Health Information Technology (ONC) (NOFO). This program’s goal is to make it possible for the technical standards required to achieve interoperability among healthcare IT systems to advance.

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E-Prescription Market Dynamics

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