Global ePrescribing Market By Product Type (Integrated Systems, Stand-alone Systems), By Component (Software, Hardware, Services), By Delivery Mode (Web and Cloud-Based Solutions, On-Premise Solutions, Licensed), By End-User (Hospitals, Office-Based Physicians, Pharmacies), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021–2031

Introduction

E-prescribing or electronic prescribing is a technology framework that allows physicians and other medical practitioners to write and dispatch prescriptions to a participating pharmacy electronically instead of using handwritten or faxed notes or calling in prescriptions.

E-prescribing systems act as stand-alone prescription writers. They can create and refill prescriptions for individual patients, manage medications, view patient history, connect to a pharmacy or other drug dispensing sites, and even integrate with an Electronic Medical Record (EMR) system. Once a pharmacy receives a request for a prescription, it can start compiling the necessary medication immediately.

ePrescribing began to gain traction when it was introduced in the Medicare Modernization Act (MMA), in 2003. This digital solution then became more prevalent and garnered more publicity when a report published by the Institute of Medicine July 2006 said that this process reduced medical errors, which helped build further awareness concerning the role of ePrescribing in improving patient safety. In short, an increase in the adoption of ePrescribing is anticipated to facilitate an improved workflow, increased patient safety, and greater drug price transparency in the foreseeable future.

The MMA created a new voluntary prescription drug benefit under Medicare Part D. Although, ePrescribing will be optional for physicians and pharmacies, Part D of the Medicare Act will require drug plans involved in the new prescription benefit, to support electronic prescribing.

Detailed Segmentation

Global ePrescribing Market Segmentation is Based on Product Type, Component, Delivery Mode, End-User, and Regions/Countries.

By Product Type

• Integrated Systems
• Stand-alone Systems

By Component

• Software
• Hardware
• Services

By Delivery Mode

• Web and Cloud-Based Solutions
• On-Premise Solutions
• Licensed

By End-User

• Hospitals
• Office-Based Physicians
• Pharmacies

By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

The global ePrescribing market is gaining traction due to increasing applications in the healthcare sector, as well as substantial support from respective governments across the globe. The growing need for an improved quality of healthcare services, and the minimization of prescribed medication errors are key drivers expected to fuel market growth opportunities over the forecast period.

In addition, the COVID-19 outbreak has led to greater patient volumes being admitted in hospitals and other healthcare facilities, and the need for better patient data management. This is expected to further fuel the demand for these given solutions.

However, the widespread adoption of ePrescribing systems is being hampered due to higher initial costs and other risks related to the security and privacy of patients’ data. Costs are not limited to the one-time purchase of a system, but also include recurrent expenses such as those incurred as a result of implementation services, maintenance and support services, the integration of e-prescribing with EHR/EMR, and, in certain instances, training & education activities as well. These elements restrict smaller-sized hospitals and other office-based physicians from investing in ePrescribing solutions.

Due to advantages offered by telehealth consultations such as increased patient engagement in remote monitoring and reduction in overhead costs, the adoption of this feature has increased significantly as a direct result of the ongoing COVID-19 crisis.

Key players:

Key players operating in the ePrescribing Industry:

• Henry Schein Inc.
• Cerner Corporation
• Allscripts Healthcare Solutions Inc.
• eClinicalWorks
• DrFirst.com Inc.
• Practice Fusion Inc.
• Surescripts
• HealthFusion Inc.
• Emdeon Business Services LLC
• athenahealth Inc.

Recent Developments

• ConnectiveRx announces an exclusive partnership with Veradigm, an Allscripts business unit, to deliver a broad portfolio of point-of-care prescription-related messages to patients. This three-year agreement took effect on March 1, 2021.
• Medway NHS Foundation Trust has selected Allscripts Sunrise’s Electronic Patient Record to bolster its digital maturity.
• Veradigm, Surescripts’ Partner to Reduce Time-to-Fill for Specialty Medication Prescriptions.
• Epic will now offer providers access to Humana’s Real-Time Benefits Check tool within clinical workflows to lower prescription costs for consumers.
• DrFirst’s iPrescribe Wins 2020 MedTech Breakthrough Award for Medication Management Innovation.
• Healthcare technology pioneer DrFirst, today announced the continued momentum and exceptional growth of iPrescribe, it’s top-rated mobile e-prescribing app that lets healthcare providers safely and securely prescribe any drug from any location, with just a few taps on a smartphone.

For the ePrescribing Market research study, the following years have been considered to estimate the market size: