Sudden outbreak of COVID-19 virus is driving the growth in Global E-Prescription Market in the forecast period, 2022-2026.
Moreover, the rapidly increasing number of chronic diseases is also driving the growth of the global e-prescription market in the upcoming five years. Additionally, growing government support and increased number of patients inclined toward online consultation and prescription are also supporting the growth of the global e-prescription market in the next five years. The global e-prescription market is geared to show exponential growth due to rising adoption of EHR solutions and incentive programs.
Furthermore, demand for error free prescription, is also aiding the growth of the global e-prescription market in the future five years. Prescription errors are one of the major causes of concern since it affects patient health, as well as professionals’ integrity. Increasing awareness among the population and its advantages are expected to support the growth of the global e-prescription market in the forecast period.
E-prescriptions are digitally form of doctor’s prescriptions that is obtained after online consultation from a medical practitioner or doctors. They are widely accepted healthcare service in recent trend. E-prescriptions are often beneficial incase the patient is not able to visit the doctor regularly or in emergency conditions. Pregnant and soon expecting mothers, and patients affected by sexual issues, mental health disorders, etc. are widely using these services for the emergency consultation and medicinal prescriptions.
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The global e-prescription market is segmented by component, mode of delivery, end-user segment analysis, competitional landscape, and regional distribution. Based on mode of delivery, the market is further bifurcated into on-premises solutions & web/ cloud-based solutions. Web or cloud-based solutions are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rapidly increasing demands.
The cloud-based solutions include basic information, remedies, and first-aid actions that can be taken in case of emergency situations. On-premises solutions are also expected to register fastest growing CAGR in the upcoming five years on the backbone of rapidly increasing chronic diseases. The online consultation and then prescription is often for first-aid or emergency situations though on-premises services like surgical, operational, and other activities require on-premises services.
Based on end-user, the market is further fragmented into hospitals, pharmacies & clinics. Hospitals are anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of rising adoption of electronic prescribing and medication administration system with benefits like accurate communication among healthcare professional and reduced adverse drug events, medication errors, and healthcare costs.
Epic Systems Corporation, Cerner Corporation, Allscripts Healthcare, LLC, NextGen Healthcare, Athenahealth, Inc., RelayHealth, LLC, GE Healthcare, DrFirst, Inc., Medical Information Technology, Inc., Henry Schein, Inc., Change Healthcare, Epic Systems Corporation, Practice Fusion, Inc., Eclinicalworks, Surescripts, are some of the market players holding the major shares of the global e-prescription market.
Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through e-prescription. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is anticipated to hold the largest revenue shares in the future five years. The healthcare industry is rapidly evolving advanced methods to provide for the best healthcare facility availability for the patients is further aiding the potential growth of the market. Countries like United States and Canada have dedicated research facilities that is aiding evolution in healthcare industry overall. New market players must focus on the research and technological advancement of the e-prescription such that rising consumer demands can be satisfied and this would aid their brand establishment in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“E-prescription Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Component (Solutions {Standalone Solutions & Integrated Solutions} & Services), By Mode Of Delivery (On-Premises Solutions & Web/ Cloud-based Solutions), By End-User Segment Analysis (Hospitals, Pharmacies & Clinics), By Region”, has evaluated the future growth potential of global e-prescription and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global e-prescription market.
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