Overview and Scope
E-prescribing refers to a technological framework that allows physicians and other medical practitioners to write and send prescriptions to a participating pharmacy electronically instead of using handwritten or faxed notes or calling in prescriptions.
Sizing and Forecast
The e-prescribing market size has grown exponentially in recent years. It will grow from <b>$2.12 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. </b> The growth in the historic period can be attributed to regulatory mandates, medication errors reduction, improved patient safety, enhanced prescription workflow, increased prescriber efficiency.
The e-prescribing market size is expected to see exponential growth in the next few years. It will grow to <b>$6.47 billion in 2028 at a compound annual growth rate (CAGR) of 25.0%. </b> The growth in the forecast period can be attributed to growing telemedicine sector, personalized medicine, prescription drug monitoring programs, medication therapy management, global e-prescribing initiatives. Major trends in the forecast period include interoperability and health information exchange, medication reconciliation, electronic prior authorization, medication adherence tools, erx for controlled substances, ai-driven alerts and decision support.
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Segmentation & Regional Insights
The e-prescribing market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment: Web And Cloud Based, On-Premise
3) By End-User: Hospitals, Office-Based Physicians, Pharmaceuticals
<b>North America</b> was the largest region in the e-prescribing market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the e-prescribing market during the forecast period. The regions covered in the e-prescribing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising focus on reducing medical errors is expected to propel the growth of the e-prescribing market going forward. Medical error refers to an avoidable adverse effect of medical care on a patient. E-prescribing has significantly reduced errors resulting from undecipherable physician handwriting. For instance, in May 2023, according to National Library of Medicine, a US-based medical library, medical errors in hospitals and clinics lead to the deaths of approximately 100,000 people each year. Therefore, the rising focus on reducing medical errors is driving the growth of the e-prescribing market.
Key Industry Players
Major companies operating in the e-prescribing market include <b> Epic Systems Corporation, Allscripts Healthcare Solutions Inc., NextGen Healthcare Inc., Athenahealth, Relay Health, Henry Schein Inc., GE Healthcare, Computer Programs and Systems Inc., DrFirst.com Inc., Surescripts, Medical Information Technology, Change Healthcare, Health Fusion Inc., eMDs Inc., iMedX Inc., Cerner Corporation, Practice Fusion Inc., eClinicalWorks LLC, Greenway Health LLC, AdvancedMD Inc., Kareo Inc., PracticeSuite Inc., Advanced Data Systems Corporation, Aprima Medical Software Inc., Compulink Healthcare Solutions, CureMD Healthcare, MacPractice Inc., Medsphere Systems Corporation, Modernizing Medicine Inc., NueMD LLC, Office Ally Inc., Optum Inc., PatientNOW Inc., protected cell company, Sevocity Inc. </b>
The e-prescribing market report table of contents includes:
1. Executive Summary
2.E-Prescribing Market Characteristics
3.E-Prescribing Market Trends And Strategies
4.E-Prescribing Market analysis
5.E-Prescribing Market Size And Growth
6. E-Prescribing Segmentation
7. E-Prescribing Regional And Country Analysis
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27.E-Prescribing Competitive Landscape And Company Profiles
28.E-Prescribing Key Mergers And Acquisitions
29.E-Prescribing Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Epic Systems Corporation
- Allscripts Healthcare Solutions Inc.
- NextGen Healthcare Inc.
- Athenahealth
- Relay Health
- Henry Schein Inc.
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