Seattle, May 22, 2019 (Issuewire.com) - The Global e-Prescribing Market, by Product Type (Software and Services), by Deployment (Web & Cloud-based and On-premise), by End-Use (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 779.9 million in 2017 and is projected to exhibit a CAGR of 18.5% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing preference of e-prescribing is attributed to significant benefits such as less time required to prescribe medications and dispense them to patients, and low medication errors for physicians. According to the Office of the National Coordinator for Health Information Technology (ONC), in 2017, over 70% of the U.S. physicians wrote at least one prescription electronically from 2007. Electronic prescribing (e-prescribing) streamlines the prescription writing process and reduces the number of errors that may occur with hand-written prescriptions.
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e-Prescribing software such as EPCS Gold (DrFirst, 2011) enables healthcare providers to send electronic prescriptions for controlled substances to retail or mail-order pharmacies within the same workflow used for e-prescribing legend drugs. Physicians can also track the number of controlled substance prescriptions a patient has received, which reduces the probability of over-prescribing or doctor shopping.
Increasing initiatives of the government and private organizations to avoid errors related to prescriptions is expected to propel the growth of the global e-prescribing market. For instance, in 2017, three U.S. states, Minnesota, New York, and Maine mandated electronic prescribing for controlled substances such as opioids. In October 2018, McKesson Canada announced a partnership with Canada Health Infoway to offer PrescribeIT, Canada's only national not-for-profit electronic prescribing service, to its pharmacy network. In February 2018, DrFirst, launched iPrescribeSM, a mobile app which allows physicians to prescribe drugs and controlled substances while complying with state Prescription Drug Monitoring Program (PDMP) requirements.
Browse 35 Market Data Tables and 27 Figures spread through 156 Pages and in-depth TOC on " e-Prescribing Market, by Product Type (Software and Services), by Deployment (Web & Cloud-based and On-premise), by End-Use (Hospitals, Clinics, and Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Key Takeaways of the e-Prescribing Market:
The global e-prescribing market is expected to witness a CAGR of 18.5% during the forecast period, owing to the increasing adoption of healthcare IT. According to the Office of the National Coordinator for Health Information Technology, in 2017, 96% of all non-federal acute care hospitals possessed certified health IT.
Among product type, the services segment is expected to generate significant revenue in 2018, owing to the low cost of services in comparison to installing the software.
Major players operating in the global e-prescribing market include, Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Change Healthcare Holdings, Inc., Cerner Corporation, Computer Programs and Systems Inc., DrFirst, Inc., eClinicalWorks, Epic Systems Corporation, GE Healthcare, Henry Schein, Inc., Medical Information Technology, Inc., Practice Fusion, Inc., Quality Systems, Inc., RelayHealth Corporation, and Surescripts-RxHub, LLC.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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