SEATTLE, May 28, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global e-prescribing market is valued at US$ 779.9 million in 2017, and is projected to exhibit a CAGR of 18.5% over the forecast period (2018 – 2026).
Key Trends and Analysis of the e-Prescribing Market:
Demand for e-prescription is growing with increasing adoption of healthcare IT in medical field. According to the Surescripts, a healthcare information network, the number of U.S. e-prescribers increased to 8% in 2017, from 2016 and the number of e-prescribers for controlled substances increased to 59% in 2017 from 2016.
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Moreover, various partnership strategies are undertaken by the medical organizations, thereby accelerating the market growth. For instance, in June 2017, the Medical Society of the State of New York (MSSNY) partnered with DrFirst, a provider of medication management solutions, to provide free mobile e-prescribing services for one year. Furthermore, in 2018, DrFirst, Imprivata, and Forward Advantage collaborated to deliver new enhancements to the controlled substance e-prescribing for MEDITECH users.
Asia Pacific is expected to witness growth at the highest rate, owing to increasing demand for e-prescription to avoid prescription related errors. According to a study published by PLoS ONE journal, in 2015, the medication administration error rate in Southeast Asia was over 88.6% and prescribing error rate was up to 35.4%.
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Key Market Takeaways:
- The e-prescribing market is expected to exhibit a CAGR of 18.5% during the forecast period (2018–2026), attributed to increasing collaboration agreements among various organizations to improve patient care and safety. For instance, in 2013, SiliconMesa partnered with DrFirst to integrate Rcopia e-prescribing software with SiliconMesa EHR Electronic Health Records and Practice Management system. The software- EPCS GoldSM 2.0, thereby allowing SilconMesa EHR to e-prescribe for controlled substances through DrFirst’s EPCS Gold 2.0 service.
- North America e-prescribing market is expected to generate significant revenue share during the forecast period, owing to increasing government support. The two important policies promoting the use of e-prescribing in the U.S. were the Medicare Improvements for Patients and Providers Act (MIPPA), or the ‘eRx incentive’ program (2008) and the Medicare and Medicaid Electronic Health Record (EHR) Incentive Programs, or the ‘meaningful use’ program (2011). According to the Surescripts network, with these initiatives, around 70% of physicians were e-prescribing using an EHR in the U.S. by April 2014.
- 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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.