E-Prescribing Global Market Report 2024

Description

“E-Prescribing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on e-prescribing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for e-prescribing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The e-prescribing market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solutions; Services
2) By Deployment: Web And Cloud Based; On-Premise
3) By End-User: Hospitals; Office-Based Physicians; Pharmaceuticals
Companies Mentioned: Epic Systems Corporation; Allscripts Healthcare Solutions Inc.; NextGen Healthcare Inc.; Athenahealth; Relay Health
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

E-prescribing is a technological system that facilitates the electronic creation and transmission of prescriptions from healthcare providers, such as physicians, to participating pharmacies. This method eliminates the need for handwritten or faxed prescriptions and enables a more efficient and secure process.

In the realm of e-prescribing, components are broadly categorized into solutions and services. Services, in this context, denote intangible, non-physical elements within the economy, distinct from tangible goods. Deployment of e-prescribing systems can take place through web-based, cloud-based, or on-premise approaches. The end-users of e-prescribing systems include hospitals, office-based physicians, and pharmaceutical entities.

The e-prescribing market research report is one of a series of new reports from The Business Research Company that provides e-prescribing market statistics, including e-prescribing industry global market size, regional shares, competitors with an e-prescribing market share, detailed e-prescribing market segments, market trends and opportunities, and any further data you may need to thrive in the e-prescribing industry. This e-prescribing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The e-prescribing market size has grown exponentially in recent years. It will grow from $2.12 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The historical growth of e-prescribing can be attributed to several factors, including regulatory mandates, a focus on reducing medication errors, improvements in patient safety, streamlining prescription workflows, and increased efficiency for prescribers. These factors collectively contributed to the adoption and integration of e-prescribing systems into healthcare practices.

The e-prescribing market size is expected to see exponential growth in the next few years. It will grow to $6.47 billion in 2028 at a compound annual growth rate (CAGR) of 25.0%. The forecasted growth of e-prescribing can be attributed to the expanding telemedicine sector, the rise of personalized medicine, the implementation of prescription drug monitoring programs, the focus on medication therapy management, and global initiatives promoting e-prescribing. Additionally, key trends in the forecast period include advancements in interoperability and health information exchange, improved medication reconciliation processes, the integration of electronic prior authorization, tools to enhance medication adherence, the introduction of e-prescribing for controlled substances, and the integration of AI-driven alerts and decision support systems. These trends reflect the ongoing evolution and enhancement of electronic prescribing systems to meet the evolving needs of the healthcare industry.

The e-prescribing market is poised for growth, primarily driven by an increased emphasis on reducing medical errors. Medical errors, avoidable adverse effects of medical care, have been significantly mitigated by e-prescribing, particularly in addressing issues arising from illegible physician handwriting. Notably, in May 2023, the National Library of Medicine reported that medical errors in hospitals and clinics contribute to the deaths of approximately 100,000 people annually in the United States. The imperative to minimize such errors is a key factor propelling the expansion of the e-prescribing market.

The e-prescribing market is anticipated to experience substantial growth with the increasing adoption of telehealth and telemedicine. Telehealth, leveraging telecommunications technology for remote healthcare services, and telemedicine, specifically enabling remote clinical consultations, synergize with e-prescribing to streamline prescription processes, enhance efficiency, and boost patient engagement. The integration of e-prescribing with telehealth platforms allows healthcare providers to electronically transmit prescriptions to pharmacies, reducing errors, enhancing patient safety, and providing convenient access to medications. Notably, according to the Centers for Disease Control and Prevention in October 2022, 37.0% of adults utilized telemedicine within the preceding 12 months in 2021. This surge in telehealth adoption is a key driver for the anticipated growth of the e-prescribing market.

A significant trend in the e-prescribing market is the technological transformation in healthcare. Leading companies in the sector are actively pursuing the development of innovative technological solutions to fortify their market position. A notable example is Change Healthcare, a US-based healthcare technology company, which, in April 2022, introduced InterQual 2022. This latest edition of their clinical decision support solution incorporates updated criteria for emergent trends, streamlined and interactive workflows, and artificial intelligence (AI) for proactive insights and efficiency. The integration of unbiased and peer-reviewed criteria demonstrates a commitment to advancing technology within the e-prescribing landscape.

Prominent players in the e-prescribing market are actively engaged in the development of novel solutions for e-prescribing networks, positioning themselves strategically to secure a competitive advantage. An e-prescribing network serves as a digital platform facilitating the electronic exchange of prescription information among healthcare professionals, pharmacies, and payers. In a notable development in March 2022, First Databank Inc., a US-based healthcare company, introduced FDB Vela, a cloud-native electronic prescribing network. This innovative platform enables seamless communication of critical medication prescription information, benefits verification, and clinical decision support across diverse healthcare stakeholders, including prescribers, payers, pharmacies, and technology partners. FDB Vela emphasizes accessibility, easy onboarding, and advanced functionalities, offering a non-exclusive and straightforward avenue for participants to streamline the prescribing and fulfillment processes. This approach aims to enhance patient care and foster collaborative innovation within the healthcare industry.

A significant event in December 2021 involved Oracle, a US-based computer technology corporation, acquiring Cerner for $28.3 billion. This strategic acquisition positions Oracle to expand its global presence with a substantial investment in healthcare. Cerner, the acquired company, is a US-based health information technology company that includes e-prescribing. The acquisition underscores Oracle's commitment to strengthening its position in the healthcare technology landscape, leveraging Cerner's expertise in the realm of e-prescribing among other health IT solutions.

Major companies operating in the e-prescribing market include 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.

North America was the largest region in the e-prescribing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the e-prescribing market during the forecast period. The regions covered in the global e-prescribing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the e-prescribing market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The e-prescribing market consists of sales of software and services related to software. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9565

1. Executive Summary

2. E-Prescribing Market Characteristics

3. E-Prescribing Market Trends And Strategies

4. E-Prescribing Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global E-Prescribing Market Size and Growth

5.1. Global E-Prescribing Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global E-Prescribing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global E-Prescribing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. E-Prescribing Market Segmentation

6.1. Global E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Web And Cloud Based
On-Premise
6.3. Global E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Office-Based Physicians
Pharmaceuticals

7. E-Prescribing Market Regional And Country Analysis

7.1. Global E-Prescribing Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global E-Prescribing Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific E-Prescribing Market

8.1. Asia-Pacific E-Prescribing Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China E-Prescribing Market

9.1. China E-Prescribing Market Overview
9.2. China E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India E-Prescribing Market

10.1. India E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan E-Prescribing Market

11.1. Japan E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia E-Prescribing Market

12.1. Australia E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia E-Prescribing Market

13.1. Indonesia E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea E-Prescribing Market

14.1. South Korea E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe E-Prescribing Market

15.1. Western Europe E-Prescribing Market Overview
15.2. Western Europe E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK E-Prescribing Market

16.1. UK E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany E-Prescribing Market

17.1. Germany E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France E-Prescribing Market

18.5. France E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy E-Prescribing Market

19.9. Italy E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain E-Prescribing Market

20.13. Spain E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe E-Prescribing Market

21.1. Eastern Europe E-Prescribing Market Overview
21.2. Eastern Europe E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia E-Prescribing Market

22.1. Russia E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America E-Prescribing Market

23.1. North America E-Prescribing Market Overview
23.2. North America E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA E-Prescribing Market

24.1. USA E-Prescribing Market Overview
24.2. USA E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada E-Prescribing Market

25.1. Canada E-Prescribing Market Overview
25.2. Canada E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America E-Prescribing Market

26.1. South America E-Prescribing Market Overview
26.2. South America E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil E-Prescribing Market

27.1. Brazil E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East E-Prescribing Market

28.1. Middle East E-Prescribing Market Overview
28.2. Middle East E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa E-Prescribing Market

29.1. Africa E-Prescribing Market Overview
29.2. Africa E-Prescribing Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa E-Prescribing Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa E-Prescribing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. E-Prescribing Market Competitive Landscape And Company Profiles

30.1. E-Prescribing Market Competitive Landscape
30.2. E-Prescribing Market Company Profiles
- 30.2.1. Epic Systems Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Allscripts Healthcare Solutions Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. NextGen Healthcare Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Athenahealth
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Relay Health
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global E-Prescribing Market Competitive Benchmarking

32. Global E-Prescribing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The E-Prescribing Market

34. E-Prescribing Market Future Outlook and Potential Analysis

34.1 E-Prescribing Market In 2028 - Countries Offering Most New Opportunities
34.2 E-Prescribing Market In 2028 - Segments Offering Most New Opportunities
34.3 E-Prescribing Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer