E-Prescribing Market Size, Share Analysis Report, 2024-2032
E-Prescribing Market Size, Share Analysis Report, 2024-2032

E-Prescribing Market Share, Size, Trends, Industry Analysis Report, By Delivery Mode (Cloud Based, Web Based, and On-Premise); By Prescription Type; By End Use; By Region; Segment Forecast, 2023-2032

  • Published Date:Jan-2024
  • Pages: 114
  • Format: PDF
  • Report ID: PM3367
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global e-prescribing market was valued at USD 2,397.3 million in 2023 and is expected to grow at a CAGR of 23.6% during the forecast period. Market is experiencing rapid growth due to the increased adoption of electronic health records and the need for more efficient healthcare systems. This growth is expected to continue as more healthcare providers adopt e-prescribing technology. E-prescribing, or electronic prescribing, involves the use of web or cloud-based solutions to enable healthcare providers to generate digital prescriptions. This computer-based process accurately generates and transmits prescription orders to a hospital-based or standalone pharmacy. E-prescription software also allows for automatic refills, medication management based on patient history, and integration with electronic medical record (EMR) systems.

E-Prescribing Market

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Furthermore, government regulations such as the Medicare and Medicaid EHR Incentive Program and the SUPPORT Act have incentivized healthcare providers to adopt e-prescribing technology, contributing to the growth of the e-prescribing market. As a result, healthcare providers have more options for choosing e-prescribing solutions that best fit their needs and requirements. The market is being driven by several factors, including the need to minimize prescription errors, rising demand for electronic prescription systems, and the desire for better healthcare quality and reduced costs. Minimizing prescription errors is considered a key factor contributing to the market's growth over the forecast period.

For instance, a research paper by Natalia Wrzosek et al. published in 2021 the study concluded that e-prescriptions were well-received by the Polish patients. However, the study also suggests that offering different options for obtaining prescriptions is necessary to meet the needs of different populations. The most popular and preferred method of receiving e-prescriptions in the study was via SMS.

The COVID-19 pandemic has had a positive impact on the e-prescribing as more healthcare organizations have turned to e-prescribing as a safer and more efficient way to manage prescriptions during the pandemic. Additionally, the pandemic has spurred research and development efforts to improve e-prescribing methods, which will likely have a long-term positive impact on the market.

E-Prescribing Market Size

Industry Dynamics

Growth Drivers
Prescription errors are a major concern for medical professionals’ worldwide, accounting for over 70% of medication errors reported by hospitals and general practice settings. These errors can have negative impacts on patients' health and are a common cause of legal and medical malpractice claims against healthcare professionals. For instance, a recent study by Johns Hopkins published in February 2022 estimates that over 250,000 people in the United States die every year due to medical errors, while other reports suggest the number could be as high as 440,000.

To address this issue, healthcare providers are increasingly turning to e-prescribing solutions, which allow them to access patient medical histories, medication information, and diagnoses, thereby improving patient safety by eliminating or reducing medication errors. The rising incidence of medical errors and adverse drug events globally is expected to strongly drive the adoption of e-prescribing systems.

Report Segmentation

The market is primarily segmented based on delivery mode, prescription type, end users and region.

By    Delivery Mode

By    Prescription Type

By   End users

By Region

  • Cloud Based
  • Web Based
  • On-Premise
  • Controlled substance
  • Non controlled Substances
  • Physician’s Office
  • Hospitals
  • Pharmacies
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Cloud-based is expected to dominate the industry's market during forecast period

Cloud-based will dominate the market during the projected years. The key driver of the market is because cloud-based e-prescribing solutions offer several advantages over traditional on-premise solutions, including lower costs, ease of use, scalability, and accessibility. Cloud-based solutions are also more flexible and adaptable, as they can be easily updated and customized to meet changing regulatory requirements or the needs of healthcare providers.

The e-prescribing process is being enhanced through the development of AI and machine learning applications. These innovative tools can detect errors in prescriptions, suggest alternative medications, and notify healthcare providers of any potential adverse drug interactions. By leveraging the capabilities of AI, e-prescribing has the potential to revolutionize the management of prescriptions in the healthcare industry.

Additionally, cloud-based e-prescribing solutions enable healthcare providers to securely access patient information from anywhere with an internet connection, allowing for greater mobility and flexibility in patient care. As a result, the cloud-based segment is expected to continue to experience strong growth in the coming years.

Non-controlled substances will account for the largest share during the forecast period

Non-controlled substances is expected to hold the largest share through the forecast period. The main factor driving the market is the increased adoption of e-prescription technology in medical facilities to enable efficient control of drug usage. Another important factor influencing the need for e-prescription solutions and fueling the expansion of the e-prescribing market is the increased prevalence of chronic diseases globally.

Furthermore, the e-prescribing of non-controlled substances offers numerous benefits, including improved accuracy, increased patient safety, and reduced prescription errors. Additionally, non-controlled substances are easier to prescribe electronically due to the fewer regulations surrounding their prescription and dispensing compared to controlled substances. The increasing adoption of e-prescribing technology is expected to further aid the dominance of the non-controlled substances segment. As more healthcare providers adopt e-prescribing, the volume of non-controlled substance prescriptions being processed through electronic means is likely to increase.

E-Prescribing Market Size

The demand in North America is expected to witness significant growth during projected period

North America region is anticipated to grow significantly in upcoming years. The key reason of market is expected to grow due to several factors, such as the increasing adoption of healthcare IT solutions, favorable government initiatives, and the presence of well-established healthcare infrastructure. The implementation of the HITECH Act has been instrumental in promoting the adoption of EHRs and e-prescribing technology in the United States. The rising prevalence of chronic diseases, such as diabetes, and a growing elderly population are driving the demand for e-prescribing in the region.

Improved medication management and increased patient safety are other factors driving the adoption of e-prescribing solutions in North America. For instance, In January 2022, Surescripts, another major e-prescribing provider, announced that it had achieved record growth in 2021, with over 2.12 billion e-prescriptions processed through its network. The company also reported that it had expanded its offerings to include new services such as real-time prescription benefit and electronic prior authorization. Moreover, the region's highly developed healthcare infrastructure and high adoption rates of advanced technologies make it a lucrative market for e-prescribing solutions.

E-Prescribing Market Size

Competitive Insight

Some of the major players operating in the global market include Cerner Corporation, Allscripts Healthcare, Surescripts, Practice Fusion, Athenahealth, eClinicalWorks, Henry Schein Medical, & Change Healthcare.

Recent Developments

  • In August 2021, Meddo, a health startup based in India, completed the acquisition of Doxper, an e-prescription platform that specializes in health record management and patient engagement solutions.

E-Prescribing Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 2,956.83 million

Revenue forecast in 2032

USD 16,069.01 million

CAGR

23.6% from 2024- 2032

Base year

2023

Historical data

2019-2022

Forecast period

2024-2032

Quantitative units

Revenue in USD million and CAGR from 2024 to 2032

Segments covered

By Delivery Mode, By Prescription Type, By End users, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Cerner Corporation, Allscripts Healthcare Solutions, Surescripts, LLC, Practice Fusion, Athenahealth, eClinicalWorks, LLC, Henry Schein Medical Systems, DrFirst, Medical Information Technology, and Change Healthcare Holdings.

FAQ's

The E-Prescribing Market report covering key segments are delivery mode, prescription type, end users and region.

E-Prescribing Market Size Worth $16,069.01 Million By 2032

The global e-prescribing market expected to grow at a CAGR of 23.5 % during the forecast period.

North America is leading the global market

key driving factors in E-Prescribing Market are Favorable Government Policies.