According to the latest report by IMARC Group, titled “E-Prescribing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global e-prescribing market size reached US$ 1.49 Billion in 2020. E-prescribing or electronic prescribing refers to the process of producing and sharing prescriptions from physicians to pharmacists via computer-based solutions. It improves accuracy and enhances the quality of care provided to the patients by reducing the chances of confusion created in handwritten prescriptions. E-prescribing aids data security checks and the extraction of complete information of patient history and formulary. Nowadays, the e-prescribing system is extensively employed in the healthcare industry due to its associated benefits such as improved patient safety, fewer medication errors, and reduced risk of prescription loss or misplacement.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global E-Prescribing Market Trends:
The global e-prescribing market is primarily driven by the increasing adoption of electronic health records (EHRs) in the healthcare industry due to rapid digitization. E-prescription aids in limiting fraudulent entries that are reported by hospitals and general practice settings, which cause medical and legal malpractice claims. This has necessitated strict checks on prescriptions, which is positively influencing the growth of the market. Furthermore, with the onset of coronavirus disease (COVID-19), governments of various countries are undertaking initiatives and incentive programs to promote telemedicine and telehealth consultations. It helps collect the medical history and background of the patients via digital or web-based solutions, which aids in maintaining social distancing measures. On account of these factors, the market value is expected to reach US$ 3.96 Billion by 2026, exhibiting a CAGR of 17.60% during the forecast period (2021-2026).
- Based on the component, the market has been bifurcated into solutions and services.
- On the basis of the delivery mode, the market has been classified into web-based, cloud-based, and on-premises.
- The market has been categorized based on the end user into hospitals, pharmacies, office-based physicians, and others.
- On the basis of specialties, the market has been segmented into oncology, sports medicine, neurology, cardiology, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Allscripts Healthcare Solutions Inc., Athenahealth Inc. (Veritas Capital and Evergreen Coast Capital), Cerner Corporation, Computer Programs and Systems Inc., DrFirst.com Inc., Epic Systems Corporation, Henry Schein Inc., Medical Information Technology Inc., Nextgen Healthcare Inc. and Surescripts LLC.
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