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Global E-Prescribing Market Size, Trends & Analysis with Covid-19 Impact - Forecasts to 2026 By Products and Services (Solutions (Integrated solutions, Standalone solutions), Services (Implementation services, Network services, Training and education services), By Delivery Mode (Web-& Cloud based solutions, On premise solutions), By End User (Hospitals, Pharmacies, Office-based Physicians), By Region (North America, Asia-Pacific, Middle East & Africa, Europe, CSA), End User Landscape and Company Market Share Analysis & Competitor Analysis
E-Prescribing Market Insights
The E-Prescribing market is expected to grow at a high CAGR during the forecast period. Electronic prescribing can lead to improvement in health care quality and patient safety by reducing medical errors. The driving demand for electronic prescribing is the convenience of provision of prescription refills. E-prescribing is safe and cheaper for doctors and pharmacies. Electronic Prescription in Controlled Substances (EPCS) provides a transparent, secure system and is easier to prescribe various controlled substances to the patients. Growing government support for the adoption of EHR solutions across the globe is driving the demand for such solutions. Also, the COVID-19 has accelerated the demand for safer data log and telemedicine accentuating the growth of E-Prescribing market further.
E-Prescribing Market Size: By Products and services
On the basis of the products and services, the market is segmented into solutions and services. The solution segment is further segmented into integrated solutions, and standalone solutions. The services segment is further segmented into implementation services, network services, and training and education services. The solutions segment is expected to hold the largest market share during the forecast period. Increased demand for software in the healthcare space is driving the market growth. Stand-alone solution is widely used by physicians in smaller practices. Integrated solutions are expected to grow at a significant CAGR during the forecast period owing to government incentives towards promotion of reducing healthcare costs.
E-Prescribing Market Size: By Delivery Mode
On the basis of delivery mode, the market is segmented into web & cloud-based solutions and on-premises solutions. Web & cloud-based solutions are expected to hold the largest market share during the forecast period. Web and cloud-based solutions improves flexibility, scalable environment and cost reduction in the hospital spaces. It is well suitable for small practitioners, independent clinics due to less investment and infrastructure costs. On- premise solutions are applicable to be used in large healthcare systems due to affordability of large infrastructural cost. On premise solutions offers data security and hospitals with their own data centres leading to their high demand in the market.
E-Prescribing Market Size: By End User
On the basis of the end user, the market is segmented into hospitals, pharmacies, and office-based physicians. The hospital segment is expected to dominate the market during the forecast period. High adoption of on-premise solutions, reduced medical errors, effect of COVID-19 are all factors that would lead to high segment growth during the forecast period. Constant training of staff to use the e-prescribing would restrain the market growth for office-based physicians’ segment.
E-Prescribing Market Size: By Region
On the basis of region, the market is segmented into North America, Asia-Pacific, Europe, CSA, and Middle East & Africa. The North America region is expected to dominate the market during the forecast period. Rising trend of physicians’ e-prescribing, government programs to promote healthcare quality and implementation of acts to mandate the use of e-prescribing would lead to high growth of the e-prescribing market during the forecast period. European region is expected to grow at a high CAGR over the coming years. Region’s push for cross border electronic healthcare system and strong national infrastructure would propel the market demand in the region.
E-Prescribing Market Share and Competitor Analysis
Key players operating in the market include: Cerner Corporation, NextGen Healthcare, Relay Health, LLC., Medical Information Technology, Inc, GE Healthcare, Henry Schein, Inc. Computer Programs and Systems, Drfirst, Inc. and Surescripts-RxHub among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2020, DrFirst partnered with ID.me to help users of the company’s e-prescribe app to verify their identities within a few minutes. This is expected to speed up the process for clinicians to prescribe drugs.
In July 2019, NextGen Healthcare (U.S.) partnered with Optimize Rx (U.S.) to provide real-time access to critical financial information, allowing providers to help patients choose appropriate medication plans, as per their cover and budgets.
Check the Press Release on Global E-Prescribing Market Report
E-Prescribing Market: By Delivery Mode
E-Prescribing Market: By Products and Services
E-Prescribing Market: By End User
E-Prescribing Market: By Region
The global E-Prescribing Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the E-Prescribing Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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