The Global E-Prescribing Market, by Product Type (Software and Services), by Deployment (Web & Cloud-based and On-premise), by End User (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,655.06 Million in 2022 and is expected to exhibit a CAGR of 18.5% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing inorganic growth strategies such as launch of application between the market players is expected to drive the growth of global e-prescribing market over the forecast period. For instance, in February 2018, DrFirst, a software developing company, launched iPrescribeSM, a mobile app which allows physicians to prescribe drugs and controlled substances while complying with state Prescription Drug Monitoring Program (PDMP) requirements. iPrescribe is a mobile solution to optimize access to all the necessary tools physicians need to manage patients medications and drive adherence in the app.
Global E-Prescribing Market - Impact of Coronavirus (COVID-19) Pandemic
The Coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries due to the COVID-19 pandemic has created an economic burden on the private healthcare sectors.
In September 2021, according to the reports published in Surescripts, information Technology Company, stated that throughout the spread of COVID-19, healthcare providers have increased their use of e-Prescribing, direct messaging, and prescription price transparency tools to streamline patient care and boost patient data exchange. Whereas, in March 2020, outpatient visits dropped roughly 60 percent, which boosted telehealth visits up to 46 percent across health facilities. Due to a decrease in ambulatory care visits and an increase of telehealth or remote visits, health organizations and clinicians leveraged their health IT (information technology) and EHRs (Electronic Health Record) to provide optimal care to their respective patients
Global E-Prescribing Market: Key Developments
Increasing inorganic growth strategies such as launch of application between the market players is expected to drive the growth of global e-prescribing market over the forecast period. For instance, in October 2018, McKesson Canada, medicines, supplies and information Technology Company, announced a partnership with Canada Health Infoway, a digital health solution company, to offer PrescribeIT, Canada's only national not-for-profit electronic prescribing service, to its pharmacy network. This partnership will help the company (McKesson Canada) in further expansion in digital sector.
Moreover, in July 2020, Rexall Pharmacy Group Ltd., a retail company and Canada Health Infoway, a digital health solution company, announced that PrescribeIT, Infoway’s national e-prescribing service, had been available in more than 250 Rexall pharmacies across Canada. PrescribeIT enables prescribers and pharmacists to electronically create, receive, renew and cancel prescriptions, while improving overall patient care through secure clinician messaging to improve patient care through more effective medication management. This partnership will help the company in further expansion of digital offering.
Browse 35 Market Data Tables and 27 Figures spread through 156 Pages and in-depth TOC on E-Prescribing Market, by Product Type (Software and Services), by Deployment (Web & Cloud-based and On-premise), by End User (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2030
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/e-prescribing-market-2636
Key Takeaways of the Global E-Prescribing Market:
- The global e-prescribing market is expected to witness a CAGR of 18.5% during the forecast period, owing to increasing launch of new technologies by the market players. For instance, in October 2021, CharmHealth, MedicalMine's Cloud-Based Health-Tech Platform, launches integrated real time prescription benefits with electronic-prescribing for controlled substances. This delivers prescription price transparency and therapeutic alternatives that benefit patients and clinicians bringing greater efficiency.
- Among product type, the services segment is expected to generate significant revenue in 2022, owing to low cost of services in comparison to installed software.
Major players operating in the global e-prescribing market include, Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Change Healthcare Holdings, Inc., Cerner Corporation, Computer Programs and Systems Inc., DrFirst, Inc., eClinicalWorks, Epic Systems Corporation, GE Healthcare, Henry Schein, Inc., Medical Information Technology, Inc., Practice Fusion, Inc., Quality Systems, Inc., RelayHealth Corporation, and Surescripts-RxHub, LLC.
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