What is the Global E-Prescribing Market Size?
The Global e-Prescribing market size was around USD 900 million in 2017. It is expected to grow at a CAGR of approximately 21.49% to reach USD 2078.587 million by 2023.
E-Prescribing, also known as Electronic Prescribing enables the prescriber to send the prescription to respective medical store or pharmacy electronically instead of sending it manually. Also, it is considered most accurate and error free prescription.
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Factors Driving the Growth of Global E-Prescribing Market:
The growth in this market is driven by the initiatives that are held to promote the use of e-prescriptions. Additionally, rise in need for healthcare and government support programs to improve the facilities in all parts of the globe are main drivers for the growth in the market. The e-prescribing market is anticipated to experience a higher growth during forecast period because of the changes in network services and technical developments and the ease in use of it, and due to the promotions made by several agencies and governments. With the widely spread demand of e-prescribing, hospitals have held major share in the last few years. Reimbursement programs made by the Centre for Medicare & Medicaid Services (CMS) for physicians practicing using EHR (Electronics Health Records) resulted in the increase of e-prescribing for physicians. In efforts to increase the ease in sending patient reports to far away distant locations and increase workflow efficiency, the demand for Cloud based model solutions have been increasing. Also during high risk critical operations, this is helpful to connect with other experienced practitioners and increase the cost-efficiency.
By geography, Europe dominated the in E-Prescribing market due to the rise in e-health programs across different nations like Germany, France, Italy, Spain and others. To establish highly sophisticated healthcare infrastructure, North America is expected to have incredible growth in e-prescribing market. Government schemes supporting better healthcare infrastructure are predicted to promote the market growth in the Asia-Pacific.
Some of the leading companies in the Global E-Prescribing Market:
Key players in the market include Athena Health Inc., IBM corporation, Quadramed Corporation, Dr.first, Cerner Corporation, Imedx Inc., Duo Security, All Scripts Healthcare Solutions Inc., EclinicalWorks, HealthFusion.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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