The surge in deaths by medical errors and increase in the abuse of controlled substances are driving the demand for the market.

NEW YORK, NEW YORK, UNITED STATES, October 12, 2021 /EINPresswire.com/ -- The global E-Prescribing market is forecast to reach USD 4.22 Billion by 2027, according to a new report by Reports and Data. E-Prescription is gaining traction with the growing adoption of the latest technology in the healthcare sector. It offers an extensive range of applications and provides a comprehensive form of medical data, ensures security checks, and complete privacy of the patient information.

Increasing support from the government is propelling the demand for the market product. The need to reduce medication errors is a major driving factor. However, e-prescribing systems are facing limitations due to the high initial cost and high risk associated with the security and privacy of patient's data. Developing nations are expected to encounter roadblocks, which includes low availability of high-speed internet connection, and inadequate IT expertise. The fund needed to be allocated to this market is also quite low in emerging nations.

The growing investment in health startups has gained momentum, which has further augmented the demand for the market. The newcomers are coming up with new ways of making these apps more user friendly and are trying to tap into more opportunistic areas of growth. A total of USD 7.5 billion was invested into various start-ups, attempting to digitalize the healthcare system of the U.S. The number was still lower than that invested in 2018, USD 8.1 billion. The U.K.'s Babylon Health was the biggest recipient of investment in 2019, with over USD 500 Million of private investment received, and followed by Ginkgo Bioworks, a bioengineering firm that designs microbes, which received USD 300 million.

The COVID-19 impact:

The COVID-19 virus pandemic has initiated a seismic wave of health anxiety and awareness, which is triggering a new category of virus-fighting tech. The lockdown to ensure social distancing has dented the market for the short term, but in the long run, the manufacturers are positive the demand for these products will surge, especially due to COVID-19. Moreover, investment in the healthcare sector will increase and result in adoption of latest technologies across the industry.

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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the E-Prescribing market on the basis of key companies, product types, applications, and key regions to impart better understanding of the E-Prescribing market.

Leading Companies Profiled in the Report are:

Cerner Corporation, Athenahealth, Inc., EPIC Systems Corporation, Allscripts Healthcare Solutions, Inc., Quality Systems, Inc., Relayhealth Corporation, Medical Information Technology, Inc., Surescripts-Rxhub, LLC. Henry Schein, Inc., and Computer Programs and Systems, Inc., among others.

Further key findings from the report suggest

• The services segment is forecasted to grow with a higher CAGR of 22.1% during the forecast period owing to the high cost incurred in updating the e-prescribing system regularly and the need for regular support and maintenance in everyday work to ensure efficient functioning of the system.

• The integrated EHR has several advantages such as clinical lab notes, results and orders, and a wide range of clinical decision support that standalone system does not offer. The increasing initiatives taken by the government to implement integrated EHR across several hospitals are another significant driving factor.

• On-premises e-prescribing solution involves hosting the software on in-house servers that are implemented and maintained by an organization, while the web-based or cloud-based is the online implementation of the software in the cloud where users get to it via the internet. The on-premises segment is estimated to witness sluggish growth as compared to a web-based solution.

• North America held the largest market share on account of the high adoption rate of the advanced and latest technology in the region and also support from the government. One such initiative taken by the government in the region is the American Recovery and Reinvestment Act (ARRA) for the advancement of the Healthcare IT and the HITECH Act.

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For the purpose of this report, Reports and Data have segmented the global E-Prescribing market on the basis of product, type, delivery mode, end-user, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Solution
o Integrated Solutions
o Standalone Solutions
• Services
o Support and Maintenance Services
o Implementation Services
o Network Services
o Training and Education Services

Type Outlook (Revenue, USD Billion; 2017-2027)

• Handheld Device
• Computer-Based Devices

Delivery Mode Outlook (Revenue, USD Billion; 2017-2027)

• Web and Cloud-based Solutions
• On-premises Solutions

End User Outlook (Revenue, USD Billion; 2017-2027)

• Hospitals
• Pharmacies
• Office-Based Physicians

Key Regions Covered in the Report:

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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Market Overview:

The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.

Key Benefits of the Global E-Prescribing Market Report:

• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks

• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects

• Analysis and accurate forecast estimation of the Global E-Prescribing Market

• Study of the key players including SWOT analysis and Porter’s Five Forces

• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution

• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features

Highlights of the TOC of the report:

• Chapter 1: Market overview
• Chapter 2: Global E-Prescribing market analysis
• Chapter 3: Regional analysis of the E-Prescribing industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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