E-Prescribing Market by Deployment and Geography - Forecast and Analysis 2022-2026

The e-prescribing market share is expected to increase by USD 1.9 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 16.74%.

This E-Prescribing Market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the e-prescribing market segmentation by deployment (on-premise and cloud-based) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The e-prescribing market report also offers information on several market vendors, including Allscripts Healthcare Solutions Inc., Athenahealth Inc., Change Healthcare Inc., CompuGroup Medical SE & Co. KGaA, Computer Programs & Systems Inc., Constellation Software Inc., DrFirst Inc, eClinicalWorks LLC, Epic Systems Corp., General Electric Co, Henry Schein Inc., iMedX Inc., McKesson Corp., Medical Information Technology Inc., NextGen Healthcare Inc., Oracle Corp., and Surescripts RxHub LLC among others.

What will the E-Prescribing Market Size be During the Forecast Period?

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E-Prescribing Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the E-Prescribing Market. During the COVID-19 pandemic, the demand for the e-prescribing market has been impacted significantly, but a holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.

Key E-Prescribing Market Driver

The increasing need for automation across different healthcare departments is one of the key factors driving the global e-prescribing market growth. The average human lifespan is increasing with the improving quality of healthcare services. With the increasing lifespan, the rise in prevalence of chronic diseases, and the growth oF the global population, the number of patients and the time involved in treatment are also increasing. Moreover, the growing awareness of health-related issues and the rising inclination for healthy living are prompting the general population to keep a check on their health. However, there is a dire need to reduce the per-patient time spent by a doctor and increase the efficiency of treatment. IT (information technology) plays a significant role in automating the treatment process right from the admission of patients, data collection on their medical history, storage of the collected data, examining patients, creating transcripts of doctors' comments and medication instructions, pharmaceutical workflows, and after-treatment follow-ups to the transfer of patients and their relevant medical records. Such factors will create demand for e-prescribing, which will positively impact the global Electronic Prescribing Market growth during the forecast period.

Key E-Prescribing Market Trend

The increasing use of Internet-enabled mobile devices in healthcare-related IT will fuel the global e-prescribing market growth. Cell phones, tablets, laptops, and wearables are being used to note down the regular vital parameters of patients and maintain their logs. Doctors and nurses check patient details directly using mobile devices before administering medication or doing a procedure. In addition, communication applications on mobile devices allow healthcare service providers to impart knowledge on patient care to the family members of the patient. There are applications that can automate audio transcription, such as Otter, Temi records, and others. These applications can be used to record patient history with minimal errors. As a result, there is reduced paperwork, and the information on patient history can enhance healthcare efficiency. Reduced paperwork not only frees up physicians' time but also puts the patients' information at their disposal. Overall, the use of mobile devices in healthcare is improving physician performance and ensuring better patient care. Such factors will create ample opportunities for the growth of the global Electronic Prescribing Market during the forecast period.

Key E-Prescribing Market Challenge

Privacy and data security concerns are the major challenges to the global e-prescribing market's growth. Maintaining security and confidentiality is an integral part of the e-prescribing ecosystem to build trust among healthcare providers and patients. There are federal and state guidelines already established for maintaining the security and privacy of e-prescribing solutions. For instance, in the US, the Health Insurance Portability and Accountability Act (HIPPA) of 1996 includes privacy standards that ensure the protection of patients' medical records, which are shared with any third parties, such as doctors, healthcare providers, and health plan providers. The channels of communication used by healthcare professionals or healthcare organizations and patients for providing remote services must comply with the guidelines set by legislation such as HIPPA. Unauthorized access to medical data, data theft, data breaches, and hacking by unauthorized people or hackers, and the loss of data during the transmission of patient data on cloud-based networks in the e-prescribing market are major threats that are expected to hamper the uptake of e-prescribing services to a certain extent. Such factors will thus hamper the growth of the global Electronic Prescribing Market during the forecast period.

This e-prescribing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global E-Prescribing Market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the e-prescribing market during the forecast period.

Who are the Major E-Prescribing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Allscripts Healthcare Solutions Inc.
• Athenahealth Inc.
• Change Healthcare Inc.
• CompuGroup Medical SE & Co. KGaA
• Computer Programs & Systems Inc.
• Constellation Software Inc.
• DrFirst Inc
• eClinicalWorks LLC
• Epic Systems Corp.
• General Electric Co
• Henry Schein Inc.
• iMedX Inc.
• McKesson Corp.
• Medical Information Technology Inc.
• NextGen Healthcare Inc.
• Oracle Corp.
• Surescripts RxHub LLC

 

This statistical study of the e-prescribing market encompasses successful business strategies deployed by the key vendors. The e-prescribing market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• ehr.meditech.com - The company offers e-prescribing platforms, such as Meditech Expanse, which can quickly review personalized charts, easily prioritize the patient list, and give patients the safe, face-to-face care that they deserve.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The e-prescribing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

E-Prescribing Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the e-prescribing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global IT software market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for E-Prescribing Market?

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47% of the market’s growth will originate from North America during the forecast period. The US is the key market for the e-prescribing market in North America. Market growth in this region will be slower than the growth of the market in other regions.

The increasing need for automation across different healthcare departments will facilitate the e-prescribing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The outbreak of COVID-19 adversely affected all countries in North America, especially the US. As of December 22, 2021, more than 50.56 million COVID-19 cases were reported in the US. A rise in the number of COVID-19 cases in the first quarter of 2020 and early 2021 led to partial lockdowns in several countries, including Canada and Mexico. The lockdowns across many countries had a minimal effect on the growth of the regional E-Prescribing Market in 2020. Moreover, the demand for e-prescribing increased as people started maintaining social distancing. This also increased the demand for virtual medical consultation and e-prescribing systems. Thus, the COVID-19 pandemic boosted the growth of the e-prescribing market in North America in 2020. The trend is expected to continue during the forecast period.

What are the Revenue-generating Deployment Segments in the E-Prescribing Market?

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The e-prescribing market share growth in the on-premise segment will be significant during the forecast period. The on-premises segment of the e-prescribing market is expected to witness significant growth in terms of CAGR when compared with the cloud-based segment during the forecast period. On-premise solutions require the purchase of licenses or a software copy, and the entire software solution is stored on the company's premises. Hence, on-premise solutions are more secure and better protected when compared with cloud computing infrastructure. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the e-prescribing market size and actionable market insights on the post-COVID-19 impact on each segment.

 

E-Prescribing Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 16.74%
Market growth 2022-2026	$1.9 billion
Market structure	Fragmented
YoY growth (%)	16.25
Regional analysis	North America, APAC, Europe, South America, and the Middle East and Africa
Performing market contribution	North America at 47%
Key consumer countries	US, Japan, China, UK, and Germany
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Allscripts Healthcare Solutions Inc., Athenahealth Inc., Change Healthcare Inc., CompuGroup Medical SE & Co. KGaA, Computer Programs & Systems Inc., Constellation Software Inc., DrFirst Inc, eClinicalWorks LLC, Epic Systems Corp., General Electric Co, Henry Schein Inc., iMedX Inc., McKesson Corp., Medical Information Technology Inc., NextGen Healthcare Inc., Oracle Corp., and Surescripts RxHub LLC
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this E-Prescribing Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive e-prescribing market growth during the next five years
• Precise estimation of the e-prescribing market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the e-prescribing industry across North America, APAC, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of e-prescribing market vendors

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