WiseGuyReports.com adds "Global e-Prescription Market Size, Status and Forecast 2019-2025" reports to its database.
E-Prescription refers to the evolving technology that helps medical practitioners and hospitals to send a prescription to other pharmacies. The e-prescriptions are widely being used as a substitute for the handwritten or faxed prescriptions. Error in prescriptions can have fatal effects on the health of the patients. The evolution of e-prescription is witnessing growth owing to its capability of reducing the errors in medications and the ability to enhance the overall quality of healthcare.
The e-prescribing system finds wide application in preparing medication lists, data security checking, and maintaining patients' historical data. E-prescription is an effective way of maintaining privacy about the disease information of the patients. The e-prescription market is expected to grow by a significant CAGR during the forecast period.
The global e-prescription market is classified based on application, type, and region.
Based on the application, the e-prescription market includes clinics and hospitals.
Depending on the type, the global market is segmented into on-premise solutions and cloud-based solutions.
Market Drivers and Barriers
The increase in adoption of e-prescriptions in the healthcare industry is driving the market growth. The cost benefits offered by the system and the minimization of treatment errors are other important factors contributing to market growth. The initiatives of the government are expected to boost market growth further.
The initial cost of the e-prescription system being high poses a limitation on the growth of the global e-prescription market. The lack of technical knowledge among physicians is also a potential barrier to market growth.
Based on the regional segmentation, the global market includes the United States, China, Japan, Europe, India, North America, Central, and South America, and Southeast Asia. The Asia Pacific region is anticipated to witness the highest growth owing to the increase in demand for e-prescriptions in the region. The North America market is also expected to grow significantly during the forecast period owing to government support.
Key Market Competitors
The increase in the awareness level of e-prescription is driving more players to the global e-prescription market. The key players in the competitive global market of e-prescriptions are Allscripts Healthcare Solution Inc., Change Healthcare Holdings Inc., Drfirst Inc., Cerner Corporation, Athenahealth Inc., and Epic Systems Corporation. Other significant competitors include Computer Programs and Systems Inc., Quality Systems Inc., Practice Fusion Inc., Relayhealth Corporation, Medical Information Technology Inc., Henry Schein Inc., Greenway Health LLC, and Surescripsts-Rxhub LLC.
Latest Industry News
E-prescription has become a solution to eliminate the ambiguity created due to the handwritten prescriptions leading to medication errors. The e-prescriptions are increasing prescription accuracy, enhancing the treatment quality. The top players, like Surescripts and Allscripts, are widely adopting the recent trend of e-prescriptions. The accuracy of medication and the safety of the patients are driving the growth of the industry. The technological advancements in the healthcare sector are expected to reduce the costs and enhance the quality of care provided to the patients. The growing adoption of e-prescription will lead to a shift towards a comprehensive electronic health record system in the coming years.
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