Rapidly Rising Adoption Rate of Integrated E-Prescribing Systems in EHR Settings to drive Demand

Rockville, Dec. 07, 2022 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global e-Prescription systems market is valued at US$ 2.96 billion in 2023 and is predicted to expand rapidly at a CAGR of 18% from 2023 to 2033.

The electronic delivery of prescriptions from doctors to pharmacists via electronic communication equipment is known as e-Prescribing or electronic prescribing (e-Rx). Complete medication lists are frequently created using e-Prescribing software. Also, they help with data security checks and the extraction of all patient history and formulary information. The worldwide e-Prescribing market is expanding rapidly as a result of more healthcare applications and strong backing from governments all over the world.

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Another significant factor anticipated to support market growth over the coming years is the growing demand for better healthcare quality and fewer pharmaceutical mistakes. Demand for e-Prescribing will highly increase as more medical facilities, hospitals, and healthcare facilities in developing economies adopt electronic health record (EHR) systems. However, higher initial costs and dangers associated with the security and privacy of patient data are preventing the widespread implementation of e-Prescribing systems. This is a significant element that may impede sales growth over the coming years.

Emerging economies continue to face several persistent obstacles, such as a lack of IT skills and a dearth of high-speed internet infrastructure. Thus, this also may affect the market growth. North America and Europe are dominating regional markets for e-Prescription systems.

Key Takeaways from Market Study

• The global market for e-Prescription systems is projected to reach US$ 15.49 billion by 2033.
• Germany’s market is predicted to expand at a CAGR of 15% during the forecast period.
• Demand for e-Prescription systems in China is expected to surge at an impressive CAGR of 24% through 2033.
• Worldwide revenue from e-Prescription services is predicted to rise at a high CAGR of 19.5% from 2023 to 2033.

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Winning Strategy

Key market players are focusing on providing innovative solutions to maintain their market position, as the competitiveness is increasing due to the factors such as the increasing patient safety concerns, the need to reduce medication errors, ongoing demand for cost-saving measures, and better quality healthcare solutions.

Leading companies are also concentrating on emerging markets to increase revenue because those markets have lower levels of competition.

• FDB (First Databank, Inc.) introduced FDB Vela in March 2022, a brand-new, cloud-native e-Prescribing network that facilitates the smooth exchange of crucial medication prescription data, benefits verification, and clinical decision assistance between practitioners, payers, drug stores, and other constituents.
• Kantar Health, a branch of Kantar Group, will be purchased by Cerner Corporation in April 2021 for a cash value of USD 375 million. The combination of Cerner's robust real-world data (RWD) and technology collection with Kantar Health's deep life sciences knowledge is anticipated to boost innovation in life sciences research and enhance patient outcomes throughout the globe.

Competitive Landscape

• Epic Systems Corporation is one of the top companies in the e-Prescribing systems market, which specialises in interoperable technologies and focuses particularly on the requirements of healthcare organisations. In comparison to any of its rivals in this market, the organisation is renowned for having numerous secured contracts with small to major hospitals. Hospital conglomerates such as Johns Hopkins Health System, Vanderbilt Health System, Duke University Health System, UNC Health Care, and University of Utah Health Care are among its clientele.
• In August 2021, Meddo, an Indian start-up operating a digital outpatient care platform, paid cash and stock to acquire Doxper, another start-up. The acquisition is anticipated to increase Meddo's monthly patient base by between 300,000 and 400,000. Within the next 12 to 15 months, the purchase also plans to remodel 1,000 additional clinics in India's premier areas.
• A partnership between MediRecords and the eRX Script Exchange to deliver electronic prescriptions to patients was announced in September 2020.
  

Key Companies Profiled

• Allscripts Healthcare Solutions, Inc.
• Athenahealth, Inc.
• Cerner Corporation
• Change Healthcare Inc.
• Computer Programs and Systems, Inc. (CPSI)
• DrFirst, Inc.
• eClinicalWorks LLC
• Epic Systems Corporation
• GE Healthcare
• Greenway Health LLC
• Henry Schein, Inc.
• MEDITECH
• Practice Fusion, Inc.
  

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Key Segments of e-Prescription Systems Industry Research

• By Component:
  
  • Hardware
  • Software
  • Services
• Type of System:
  
  • Standalone e-Prescribing Systems
  • Integrated e-Prescribing Systems
• By Delivery Mode:
  
  • Cloud-based
  • Web-based
  • On-premise
• By End User:
  
  • Hospitals
  • Office-based Physicians
  • Pharmacies, Clinics
• By Region:
  
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global e-Prescription systems market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of component (hardware, software, services), type of system (standalone e-Prescribing systems, integrated e-Prescribing systems), delivery mode (cloud-based, web-based, on-premise), and end user (hospitals, office-based physicians, pharmacies, clinics), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses.

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