PUBLISHER: DataM Intelligence | PRODUCT CODE: 1683377
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1683377
The global digital prescription market reached US$ 2.31 billion in 2024 and is expected to reach US$ 18.39 billion by 2033, growing at a CAGR of 23.4 % during the forecast period of 2025-2033.
The global digital prescription market, also known as the E-prescription market, encompasses the use of electronic systems to create, manage, store, and transmit medical prescriptions. These systems are designed to enhance prescription accuracy, minimize medication errors, and improve patient safety by integrating with electronic health records (EHRs) and pharmacy management systems.
The market is divided into two primary categories solutions and services. Solutions include integrated and standalone systems, while services encompass support & maintenance, implementation, network services, training, and education. Among these, integrated solutions dominate due to their seamless interoperability with electronic health records (EHRs) and hospital management systems, improving workflow efficiency.
Web & cloud-based solutions are experiencing rapid growth, driven by their scalability, cost-effectiveness, and remote accessibility. On-premise solutions continue to hold a strong market presence, particularly among large healthcare institutions, where data security and regulatory compliance are top priorities.
Market Dynamics: Drivers & Restraints
Increased adoption of electronic health record (EHR) Solutions
The increased adoption of electronic health record (EHR) solutions is significantly driving the growth of the global digital prescription market and is expected to drive it throughout the market forecast period.EHRs function as a centralized digital platform for storing, retrieving, and sharing patient data, allowing healthcare providers to manage medical records more efficiently. Their integration with e-prescription systems improves prescription accuracy, reduces medication errors, and enhances overall workflow efficiency.
EHRs are designed to work in sync with e-prescribing systems, ensuring that critical patient data, such as medication history, allergies, and lab results, is readily available. This real-time data accessibility helps reduce prescription errors and allows physicians to make more informed, data-driven prescribing decisions. The interoperability of EHR and e-prescription systems enhances care coordination between physicians, pharmacists, and healthcare institutions, improving overall patient safety and treatment outcomes.
Data Security and Privacy Concerns
Data security and privacy concerns will hinder the growth of the global digital prescription market, primarily due to the sensitivity of the patient information involved. Digital prescriptions rely heavily on electronic data transmission, which introduces risks of potential data breaches, unauthorized access, and cyberattacks. Prescriptions contain sensitive information, such as a patient's medication history, allergies, and personal health details. Storing and transmitting such data electronically creates concerns about the confidentiality and integrity of patient information.
Healthcare providers and technology companies must comply with data protection regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) in the U.S. or the General Data Protection Regulation (GDPR) in the EU. These laws require stringent security measures to protect patient data, which can be challenging and costly for digital prescription platforms. As e-prescribing systems often need to integrate with Electronic Health Records (EHRs) and other healthcare IT systems, ensuring data security across different platforms can be complex. Any vulnerability in the system integration can expose patient data to unauthorized access. Thus, the above factors could be limiting the global digital prescription market's potential growth.
The global digital prescription market is segmented based on the type of services, delivery mode, and region.
The services segment in type of services is expected to dominate the global digital prescription market with the highest market share
Services play a crucial role in the implementation, operation, and optimization of digital prescription systems. These services ensure that the technology is integrated efficiently, maintained properly, and used effectively by healthcare professionals. The main types of services offered in this market include support & maintenance, implementation, network services, and training & education.
Services include support & maintenance services, implementation services, network services, and training and education services. Implementation services focus on the deployment and integration of digital prescription systems within healthcare organizations, such as hospitals, clinics, and pharmacies. Network services support the connectivity and infrastructure necessary for real-time data exchange in digital prescription systems. These services ensure the secure transfer of prescriptions between healthcare providers, pharmacies, and other stakeholders. Training and education services ensure that healthcare professionals are well-equipped to use digital prescription systems effectively.
For instance, in September 2022, Ahmedabad-based JVS Technologies Pvt Ltd launched SoftClinic GenX, India's first zero-cost AI-powered digital prescription app. The app is designed to help doctors generate digital prescriptions within seconds and send them to patients via WhatsApp, Email, or SMS, eliminating the need for manual writing or typing. These factors have solidified the segment's position in the global digital prescription market.
North America is expected to hold a significant position in the global digital prescription market with the highest market share
The North American digital prescription market is a rapidly growing segment of the healthcare industry, driven by various factors that promote the adoption of e-prescribing systems and digital prescription solutions. Regulatory support is one of the key factors propelling the growth of digital prescriptions in North America, particularly in the United States. The U.S. government has introduced various programs like Medicare and Medicaid incentives for the adoption of Electronic Health Records (EHRs) and e-prescribing solutions.
Continuous advancements in digital health technologies, including cloud computing, mobile applications, and artificial intelligence (AI), have significantly improved the functionality and efficiency of digital prescription systems. The integration of EHRs, telemedicine, and digital prescriptions enables healthcare providers to enhance clinical decision-making, reduce prescription errors, and provide better patient care. AI-powered systems further improve prescription accuracy and support real-time decision-making.
The adoption of digital prescriptions significantly reduces the risk of medication errors and fraud. By eliminating handwritten prescriptions, the chances of misinterpretation or illegibility are minimized, improving patient safety. E-prescribing systems also facilitate automatic checks for potential drug interactions, allergies, and contraindications, which improves prescription accuracy and prevents adverse drug events.
For instance, in August 2024, in New Jersey, Otsuka Precision Health, Inc. (OPH) and Click Therapeutics, Inc. officially launched Rejoyn, the first FDA-cleared prescription digital therapeutic (DTx) for major depressive disorder (MDD). Cleared in March 2024, Rejoyn is designed as an adjunct to clinician-managed outpatient care for adults (22+ years) who are already taking antidepressant medication. Thus, the above factors are consolidating the region's position as a dominant force in the global digital prescription market.
The major global players in the digital prescription market include Veradigm LLC, Cerner Corporation (Oracle), DrFirst, NXGN Management, LLC., MCKESSON CORPORATION, Surescripts, Athenahealth, CNBC LLC., Practice Fusion, Inc., and Networking Technology, Inc., among others.
The global digital prescription market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.
Target Audience 2024
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