Market Size – USD 1.34 Billion in 2019, Market Growth – CAGR of 24.2%, Market Trends – Advancement in technology.
Rise in the adoption of digitalized e-prescriptions and improving medical technologies are driving the market.
The Global Digital Prescription Technology Market is expected to be valued at USD 7.76 Billion in 2027 from USD 1.34 Billion in 2019, registering a CAGR of 24.2% through the forecast period. The market is rapidly expanding due to the rising adoption of forefront technology in healthcare. Digital prescription technology provides widespread applications along with a comprehensive medical data, and also offers complete security/privacy of any patient information.
The market has experienced enormous demand in the last few years, due to the rising penetration of the IoT and the rapid emergence of various cutting-edge technologies in the healthcare domain. Digital health has been crucial to many businesses, and is attracting various other firms from the outside of the healthcare domain. The increasing need for enhanced quality of healthcare and reduced errors in prescription are majorly fueling the market’s expansion. Various healthcare and medical centers in various developing countries are highly accepting automated health record systems, augmenting the need for technology in digital prescription.
However, higher initial risks and costs related to the security of patient data is hindering the industry’s growth. Nonetheless, the increasing investment in various health startups has restored the growth momentum in the market.
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The COVID-19 pandemic has leading to the anxiety, triggering the demand for an advanced virus-fighting tech. The technology in digital prescription is observing a hike in demand, especially in various remote areas. Moreover, the government support worldwide is augmenting demand in the overall industry.
Further key findings from the report suggest
- The Hospital sub-segment is projected to be valued at USD 2.56 Billion in 2027. This segment accounted for the highest market possession, owing to the growing adoption of various technologies in healthcare.
- The integrated solution sub-segment led the industry in 2019 and has been projected to be worth USD 3.26 Billion by 2027.
- The cloud sub-segment is growing significantly and is predicted to register USD 2.64 Billion in 2027 in revenue. This cloud platform is highly advantageous and attractive for independent practitioners, small clinics, community hospitals, and physicians. The seamless deployment of any cloud solution in the industry is propelling the product’s demand.
- The North American market is showcasing steady growth over the years. The existence of several enterprises and the entry of numerous players in the region are further accelerating the market’s demand. The market in this region is foreseen to register a CAGR of 24.7% during the analysis period.
- Major vendors in the industry are Practice Fusion, Inc., Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Change Healthcare Holdings, Inc., DrFirst, Inc., Computer Programs and Systems Inc., Quality Systems, Inc., Cerner Corporation, and Surescripts-RxHub, Henry Schein, Inc.
Digital Prescription Technology Market Share, Size, Growth & Analysis, By Product, By Delivery Mode, and By End-User, Forecasts to 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-prescription-technology-market
For the purpose of this report, Reports And Data has segmented the global Digital Prescription Technology Market on the basis of product, delivery mode, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Integrated Solutions
- Standalone Solutions
Delivery Mode Outlook (Revenue, USD Billion; 2017-2027)
End-user Outlook (Revenue, USD Billion; 2017-2027)
- Office-based Physicians
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Digital Prescription Technology Market Segmentation & Impact Analysis
4.1. Digital Prescription Technology Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Highly competitive and consists of a few major players.
18.104.22.168. Companies are trying to innovate more products to sustain the competition.
22.214.171.124. Government support is expected to aid market growth in the coming years.
4.2.3. Market restraints analysis
126.96.36.199. Developing countries do not have integrated & well- connected network.
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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