E-Prescribing Market

Increasing adoption of electronic prescribing for controlled substances (EPSC) coupled with favorable government policies expected to boost the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, November 22, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The USD 4.15 Billion E-Prescribing Market Reach by 2026 | Top Players such as - DrFirst.com, Cerner and Surescripts." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The e-prescribing market size was valued at USD 885.6 million in 2018, and is projected to reach USD 4,152.7 million by 2026, growing at a CAGR of 21.4% from 2019 to 2026.

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Rise in focus on lowering down fraud and abuse of controlled substances, the requirement to reduce escalating healthcare costs, and supportive government initiatives fuel the global e-prescribing market. On the other hand, expensive systems and issues related to workflow & security impede the growth to some extent. However, untapped potential in emerging nations in Asia-Pacific is expected to create lucrative opportunities in the industry.

The e-prescribing market segmentation is based on component, deployment, end user, and region. By component, it is categorized into solutions and services. On the basis of deployment, it is divided on-premise and cloud. Depending on end user, it is classified into hospitals, office-based physicians, and pharmaceuticals. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the solutions segment accounted for more than four-fifths of the total market share in 2018, and is anticipated to lead the trail by 2026. The services segment, on the other hand, would register the fastest CAGR of 23.3% from 2019 to 2026.

Based on deployment, the web and cloud-based segment contributed to more than half of the total market revenue in 2018, and is projected to retain its dominance throughout the forecast period. This segment is also estimated to exhibit the fastest CAGR of 23.7% by the end of 2026.

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Based on geography, North America held the highest market share in 2018, generating nearly two-fifths of the global e-prescribing market. Simultaneously, the region across Asia-Pacific would manifest the fastest CAGR of 24.3% throughout the forecast period. The other two regions covered in the report include Europe and LAMEA.

The key market players analyzed in the global e-prescribing market report include Allscripts Healthcare, LLC, Athenahealth, Inc., Cerner Corporation, Change Healthcare, DrFirst.com, Inc., eClinicalWorks, Epic Systems Corporation, Medical Information Technology, Inc., Practice Fusion, Inc., and Surescripts.

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Covid-19 scenario-

● The outbreak of covid-19 led to increase in demand for electronic prescribing solutions, since there’s been a steep rise in need for improved patient safety and fewer medication errors often found in handwritten prescriptions.

● This trend is most likely to continue post-pandemic as well, as it aids in evading the hassle of visiting doctors’ chambers in person, thereby catering to the social distancing norms as well.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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