E-prescribing is a technology framework for electronic transmission of prescription from medical professionals to pharmacists. This is rapidly becoming standard practice in developed countries, developing countries are also gaining knowledge about the importance of this technology and has started or will be adopting this system in coming years.
The Global E-Prescribing Market is estimated to be valued at USD 490 million in 2016 and is projected to reach USD 1,195 million by 2021, at a CAGR of 19.52% during the forecast period from 2016 to 2021. Initiatives and incentive programs launched by government in order to improve quality healthcare, cut healthcare cost and reduce prescription errors is the key driver of this market.
Additionally, improved infrastructure especially in developed countries, implementation of E-Health Record (EHR), expansion of Healthcare IT, favorable policy and guidelines for testing these products has helped in rapid growth of this technology.
The technology also has certain constraints to overcome, such as high cost of prescribing system, lack of technical expertise and sufficient knowledge base and physician reluctance in adopting new technology. Data Integrity and safety is also a key concern. Moreover, lack of infrastructure for better connectivity and lack of awareness about such technology in rural areas are also restraining this market.
However, the technology has several opportunities as well. The introduction and implementation of Electronic Health Records (EHR), the rising investments in venture capital funds, and the implementation of trends in the Healthcare-IT field, growing economies and emphasis on healthcare sector in these countries holds immense potential for this market.
The process of e-Prescribing has raised efficiency levels, both for prescribers and pharmacists. Problems due to error in prescription are getting reduced and should become nonexistent in coming years, however, new types of errors could emerge and continuous quality surveillance is thus mandatory.
E-Prescribing vendor will have to add few features in system to make this more effective, such as they need to add features for monitoring medication adherence and persistency, for monitoring effectiveness and safety, for verifying patient pick-up and newer drugs must be added as early as possible in the system so that physician can prescribe best treatment available in the market anytime.
The global E-Prescribing market is segmented on the basis of System type (Integrated and Stand-alone system), Component (Software, Hardware, and Services), Delivery mode (On-premise Model and Cloud-based Model), End-User (Hospitals, clinics and Physicians), usage mode (hand held devices, computer based devices) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
The major market players in this market are Cerner Corporation, DrFirst Inc., eClinicalWorks, Practice fusion, e-MDs, Surescripts, Allscripts, iMedX, Athenahealth Inc., Aprima Medical Software etc. The primary stakeholders of this technology are healthcare IT firms, care organizations, health insurance providers, healthcare payers, healthcare providers and venture capitalists.
Key Deliverables in the Study
Market analysis for the Global E-prescribing Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global E-prescribing market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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