Global Market Study on E-Prescribing: North America to Witness Highest Growth by 2019

  • Published On : Sep-2014 |
  • Pages : 182 Pages |
  • Format :

Electronic prescribing or E-Prescribing (e-Rx) is electronic transmission of prescriptions from physician to pharmacists using computer and other mobile devices, such as cell phone and tablets. E-Prescribing system has replaced the phone, paper and fax based method of prescription. The system improves patient safety by reducing prescribing errors due to various reasons, such as illegible handwriting and ambiguous abbreviations. It also reduces healthcare costs over the paper based prescription systems. It permits the physician and other healthcare professionals to regenerate a new prescription, when any prescription error occurs during pharmacy operation.

The global E-Prescribing market is categorized based on various product type, components, delivery mode, usage mode and end users. The product type segmentation is further sub-segmented into integrated and stand-alone system. The component segment comprises software, hardware and services. The delivery mode segmentation is further sub-segmented into web-based, on-premise/licensed and cloud-based. The usage mode segmentation comprises PC-based and hand-held device. The end users segment is further sub-segmented into hospital and office-based physician. 

In terms of geographic, Europe is the largest market for E-Prescribing system followed by North America and Asia. Europe has made significant progress in implementation of modern eHealth infrastructures as compared to other regions. Many eHealth projects in Europe are playing a vital role in the adoption of E-Prescribing system. For instance, the European Patient Smart Open Services (epSOS) is the primary eHealth project in Europe. It is funded by the European Commission and partners involved in the project. It focuses on the improvement of medical treatment of citizens by providing essential patient information in electronic format. E-Prescribing system is also one of the major parts of epSOS that provides electronic prescription services to healthcare professionals.

However, North America is the fastest growing region in the E-Prescribing market. Increased adoption of E-Prescribing system and improved healthcare infrastructure are the key drivers for the growth of the E-Prescribing market in the region. 

In Asia, usage of E-Prescribing system is increasing due to medical infrastructure development and government initiative programs. Furthermore, hospitals in the region focus on adoption of healthcare IT. This supports the adoption of E-Prescribing system. Implementation of IT improves the effectiveness and efficiency of healthcare in Asia through reduced costs and improved healthcare services.

Globally, E-Prescribing system is gaining popularity as various government initiatives have promoted the usage of the system. Furthermore, improved quality of healthcare and reduced prescription errors are supporting the adoption of this technology. Additionally, advanced features of E-Prescribing system and improved healthcare infrastructure are the key driving factors for the growth of E-Prescribing market.

On the other hand, high cost of E-Prescribing system and lack of patient privacy and security impede growth of the E-Prescribing market. Lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key restraints for the E-Prescribing market.

The report provides in-depth analysis and estimation of the E-Prescribing market from 2013 to 2019, considering 2013 as the base year for calculation. Additionally, data pertaining to current market dynamics including market drivers, restraints, trends and recent developments has been provided in the report. 

Electronic prescribing or E-Prescribing (e-Rx) is electronic transmission of prescriptions from physician to pharmacists using computer and other mobile devices, such as cell phone and tablets. E-Prescribing systems are used in preparation of complete medication list, data security checks, complete information of formulary and patient historical data. Globally, the E-Prescribing market is witnessing significant growth led by various government programs to implement E-Prescribing systems in order to improve quality of healthcare and reduce medication errors. Moreover, advanced features of E-Prescribing are also supporting in growth of E-Prescribing market. Additionally, improved healthcare infrastructure has increased the demand for E-Prescribing system. Moreover, implementation of electronic healthcare records with E-Prescribing system holds immense potential for growth of E-Prescribing market. The global E-Prescribing market was valued at USD 250.2 million in 2013 and is likely to grow at a CAGR of 23.5% from 2013 to 2019 to reach USD 887.8 million by 2019.  

Europe holds largest market share in the global E-Prescribing market. Integrated system is the largest E-Prescribing system and web-based E-Prescribing system is the largest delivery mode. Software is the largest component of the E-Prescribing system. Moreover, hand-held device usage mode has the largest market share and hospital is the largest end user of E-Prescribing system. 

In terms of growth, North America is the fastest growing region for E-Prescribing market. Services are the fastest growing component of the E-Prescribing system. Cloud-based E-Prescribing system is the fastest growing delivery mode and office-based physician represents the fastest end-user of E-Prescribing system.  

The global E-Prescribing market valued at USD 111.2 million in revenue in 2009. The market was expanded to USD 203.4 million in 2012, growing at a CAGR of 22.3% from 2009 to 2012.

TABLE 1 Global market for E-Prescribing system, by geography 2013-2019 (USD million)

Some of the major players operating in the E-Prescribing market:

  • Henry Schein, Inc.
  • Cerner Corporation.
  • Allscripts.
  • eClinicalWorks.
  • DrFirst.
  • Practice Fusion, Inc.
  • Surescripts.
  • HealthFusion, Inc.
  • Emdeon.
  • athenahealth, Inc.
  • Other

These key market players have been profiled based on attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.

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