About E- Prescribing Solutions
E-prescribing, or electronic prescribing, is a technique used by healthcare providers in which the prescription is sent electronically to the patient or the pharmacy. Integrated solutions and standalone solutions are two common types of e-prescribing solutions. Electronic prescribing (e-prescribing) solutions are widely used in the healthcare industry because of their benefits such as improved patient safety, fewer medication errors due to handwritten prescriptions, fewer medication errors due to misunderstood telephone prescriptions, and lower risk of losing or losing misplaced written prescriptions. The COVID-19 pandemic will not directly affect the e-prescription market. However, the impact on healthcare IT and EMR markets will fuel demand for e-prescribing solutions during and after the global pandemic. Due to the COVID-19 outbreak, the number of teleconsultations has increased. The integration of EHR, telemedicine, and e-prescribing capabilities helps prescribers build an interconnected network that ensures the use of HCIT to diagnose and prescribe medicines for patients. In addition, recommendations from the CDC on the use of telemedicine services and the Drug Enforcement Administration (DEA) regulations for electronic prescribing of controlled substances have increased the number of electronic prescribing transactions.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global E- Prescribing Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Allscripts Healthcare, LLC (United States), Athenahealth, Inc. (United States), Cerner Corporation (United States), DrFirst (United States), eClinicalWorks (United States), McKesson Corporation (United States), Surescripts (United States), Change Healthcare (United States), Greenway Health, LLC (United States), Practice Fusion, Inc. (United States), Chetu Inc. (United States), Henry Schein Medical Systems, Inc. (United States), Stratice Healthcare (United States) and Exostar (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are RXNT (United States), Imprivata, Inc. (United States) and H2H Solutions (United States).
Segmentation Overview
AMA Research has segmented the market of Global E- Prescribing Solutions market by Type (Integrated Solutions and Standalone Solutions), Application (Hospitals, Office-Based Physicians and Pharmacies) and Region.
On the basis of geography, the market of E- Prescribing Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Solutions will boost the E- Prescribing Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Web & Cloud-Based Solution will boost the E- Prescribing Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Used, the sub-segment i.e. Handheld Device will boost the E- Prescribing Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise In Adoption of Electronic Prescribing and Medication Administration Systems and Increase In Adoption toward Advanced Healthcare Technology Products
Market Growth Drivers:
Increasing Focus to Reduce the Fraud & Abuse of Controlled Substance and Growing Need to Curtail the Healthcare Costs
Challenges:
A Dearth of Technological Awareness
Restraints:
High Deployment Cost, Complexity Associated With the Workflow & Security
Opportunities:
Increasing Government Initiatives & Incentive Programs, Increasing Popularity of E- Prescription System and Growing Focus to Decrease Medical Errors
Market Leaders and their expansionary development strategies
In July 2023, Surescripts, a leading e-prescribing platform, partnered with DrChrono, a cloud-based EHR provider, to integrate e-prescribing functionality directly into DrChrono's platform. This aims to streamline workflows for healthcare providers and improve medication safety.
In December 2023, CVS Health announces a pilot program to enable patients to refill prescriptions through its mobile app. This initiative leverages e-prescribing technology to streamline the refill process and improve patient convenience.
In 2018, US federal lawmakers recognized e-prescribing as an essential tool for controlled substances. The government passed a Substance Disorder Prevention Act that encourages the recovery and treatment of opioids (SUPPORT) for patients and communities, requiring prescriptions for controlled substances covered by Medicare Part D to be sent electronically from January 2021.
Key Target Audience
Providers of E- Prescribing Solutions, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.