Westford, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global E-Prescribing Market Share will reach a value of USD 13.93 Billion by 2031, with a CAGR of 23.40% during the forecast period (2024-2031). Favorable government legislation and the rising adoption of electronic prescription for controlled substances, or EPSC, are the factors driving the e-prescribing market growth. Moreover, the industry is growing due to the increasing concern about patient safety. The COVID-19 pandemic witnessed a call to change the service delivery procedures among medical establishments not to infect the public. This situation also increased the need for e-prescribing solutions because it proved the proof of an improvement in the access to the prescription medications.
Browse in-depth TOC on the "E-Prescribing Market"
Pages – 178
Tables – 111
Figures – 73
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E-Prescribing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 2.59 Billion |
| Estimated Value by 2031 | USD 13.93 Billion |
| Growth Rate | Poised to grow at a CAGR of 23.40% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Delivery Mode, Prescription Type, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | E-prescribing market growth driven by efficiency, security |
| Key Market Opportunities | Expanding Telehealth Services |
| Key Market Drivers | Increased Healthcare Digitalization |
Solutions Category Dominates E-Prescribing Market, Driven by High Software Penetration and Cost
As per the e-prescribing market analysis, the solutions segment accounts for the highest share of revenues in the global markets and asserts its dominance in the markets in 2023. The reason for achieving such a huge market share is the high cost of the software and growing penetration. The segment is further divided into two categories, namely standalone solutions and integrated solutions. Integrated software, according to definition, is a collection of software from two or more functions designed to work on related applications. The standalone software is solely for the performance of one functional activity, such as filling prescriptions for patients.
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On-Premises Solutions Witness Robust Growth, Amidst Data Security and Digitalization Demand
Based on the e-prescribing market forecast, the on-premises segment is expected to grow at an estimated rate of around 26.9%. On-premises solutions are significantly more reliable for large health systems and organizations that have loads of sensitive data to store at secure places. Rising demand for data protection and sharing, along with expenditure on digitalization is anticipated to fuel growth for on-premises solutions. Epic and Cerner Corporation are among the largest firms in providing on-premises services of e-prescribing.
North America Leads E-Prescribing Market, Supported by Advanced Medical Infrastructure and Government Initiatives
North America currently leads the e-prescribing industry with the largest market share. As medical infrastructure in the area is advanced, technological advancement emphasis on this area has placed it at the top of the industry, making the environment more conducive for e-prescribing systems. The industry is also growing due to favorable government activities in the region. Government initiatives such as reimbursement facilities are improved in the region. Such programs increase medical effectiveness, reduce drug mistakes, and enhance patient safety.
E-Prescribing Market Insights
Drivers
- Increased Healthcare Digitalization
- Improved Patient Safety
- Enhanced Healthcare Workflow
Restraints
- Limited Adoption in Developing Regions
- Dependence on Internet Connectivity
- Data Privacy Concerns
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Key Players Operating Within the E-Prescribing Market
- Epic Systems Corporation (US)
- Surescripts-Rxhub, LLC (US)
- Henry Schein, Inc. (US)
- DRFIRST, Inc. (US)
- DrChrono (US)
- MDToolbox (US)
- eClinicalWorks (US)
- Renaissance Health (US)
- Moderna Therapeutics (US)
- MediMobile (US)
- ePrescribeRx (US)
- HealthWave (US)
- RxNT (US)
- DrChrono (US)
- MediLedger Network (US)
- Sunknowledge Services Inc. (US)
- PointClickCare (Canada)
- RxVantage (US)
Key Questions Covered in the Global E-Prescribing Market Report
- At what CAGR is the market growing?
- What are the strategies adopted by key players that are changing the e-prescribing market outlook?
- Which region accounted for the largest share in 2023?
- What are the key market trends?
- What will the size of the market be by 2031?
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This report provides the following insights:
Analysis of key drivers (increased healthcare digitalization, improved patient safety), restraints (data privacy concerns, dependence on internet connectivity) opportunities (expanding telehealth services), and challenges (user training and adoption) influencing the growth of the e-prescribing market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the e-prescribing market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the e-prescribing market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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