Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global E-prescribing Market, by Product Type (Software and Services), by Deployment (Web & Cloud-based and On-premise), by End Use (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 779.9 million in 2017 and is estimated to exhibit a CAGR of 18.5% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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The increasing preference of e-prescribing by healthcare providers is attributed to benefits offered by e-prescribing such as less time required to prescribe medications and dispense them to patients, and low medication errors for physicians. For instance, according to the Office of the National Coordinator for Health Information Technology (ONC), in 2017, over 70% of the U.S. physicians wrote at least one prescription electronically from 2007. Electronic prescribing (e-prescribing) streamlines the prescription writing process and reduces the number of errors occurred in hand-written prescriptions.
Moreover, e-prescribing software such as EPCS Gold (DrFirst, 2011) allows healthcare providers to send electronic prescriptions for controlled substances to retail or mail-order pharmacies within the same workflow used for e-prescribing legend drugs. Physicians can also track the number of controlled substance prescriptions a patient has received, which reduces the probability of over-prescribing or doctor shopping.
The increasing number of initiatives by government and private organizations to avoid errors, in terms of prescriptions is one of the major factors that is further expected to propel growth of the global e-prescribing market over the forecast period. For instance, three U.S. states such as Minnesota, New York, and Maine mandated electronic prescribing for controlled substances such as opioids, in 2017. Similarly, in October 2018, McKesson Canada entered into a partnership with Canada Health Infoway to offer PrescribeIT, Canada’s only national not-for-profit electronic prescribing service, to its pharmacy network. Moreover, in February 2018, DrFirst, launched iPrescribeSM, a mobile app which allows physicians to prescribe drugs and controlled substances, while complying with state Prescription Drug Monitoring Program (PDMP) requirements.
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 Use (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights related to e-prescribing market Press Release, click the link below: https://bit.ly/3b0lvL4
Key takeaways of the e-prescribing market:
- The global e-prescribing market is expected to exhibit a CAGR of 18.5% over the forecast period, attributed to increasing adoption of healthcare IT. For instance, according to the Office of the National Coordinator for Health Information Technology, 96% of all non-federal acute care hospitals possessed certified health IT, in 2017.
- On the basis of product type, services segment is expected to account for major market share, in terms of revenue, in 2018, attributed to low cost of services compared to installed softwares
- Key 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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