Market Research Report
Global E-Prescribing Market Research and Forecast, 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||801116|
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|Global E-Prescribing Market Research and Forecast, 2019-2025|
|Published: February 20, 2019||Content info:||
Global E-Prescribing Market, Size, Share & Trends Analysis Report, by Component (Software and Hardware), by Type (Standalone and Integrated E-Prescription), by Offering (Cloud, Web-Based and On-Premise) by End-User (Hospital and Pharmacy) and Forecast, 2019-2025
The electronic prescribing, or e-prescribing enables to integrate prescription information into computer devices such as a tablet, laptop, or computer. It securely conveys prescription to pharmacies through a software program and connected transmission network. The pharmacy receives a request and can fill the medication for the patients. The e-prescribing enable to improvise patient care, safety and reduce medication errors, inspect drug interactions and allows providers to electronically request prescription refills. The technological advancement in improvising e-prescription growth, and enables to prevent from prescription drug error. It provides automated clinical decision support, by providing dose evaluation, and duplicate therapy alerts. The e-prescribing applications, use standard drug dictionaries and includes DrFirst's and Rcopia, which enables in reducing risks associated with generating and filling prescriptions.
The high cost of e-prescription software, lack of skilled professionals and patient privacy and security is considered as the major restraint for the market. The electronically transmitted and stored data deals with security issues, such as hacking and virus attacks. The patient privacy may be used for inappropriate prescribing of controlled substances. Whereas, the increasing implementation of health record software is considered to be a huge opportunity for the market. The factors contributing towards the growth of the market include increasing demand for e-prescription and eliminate paper-based prescription. The improvised healthcare infrastructure and reducing prescription errors enables to boost the e-prescription market.
Geographically, the market is divided into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the global e-prescription market, due to advanced infrastructure and high adoption of e-prescription in the region. The electronic prescribing (eRx) incentive program are boosting the region. Europe shows significant growth during the forecast due to increasing eHealth projects increasing the adoption of the European Patient Smart Open Services (epSOS) and various health Initiatives in the region. The epSOS enables to develop, design and evaluate service infrastructure between electronic health record systems in Europe. However, Asia-Pacific shows improved penetration of the e-prescribing technology and increasing health concerns in the region is boosting the market.
There are various companies involved in the e-prescription such as DrFirst.com, Inc., Cerner Corp., AthenaHealth Inc., Henry Schein, Medical Systems, Inc. and eClinicalWorks, LLC. The companies are focused on developing advanced e-prescription to stay competitive in the market. Geographical expansion, merger & acquisition, finding a new market or innovate in their core competency in order to expand individual market share is a key strategy adopted by major market players. For instance: In January 2017, DrFirst acquired VisibilityRx, which provide clinical trial recruitment services for clinical research and pharmacies. The acquisition enables the company to provide 60,000 physician clients to identify and refer patients for the latest clinical trials. Through the acquisition, the capacity of VisibilityRx's is enhanced to connect patients to clinical trial.
The market study of the global e-prescribing market is incorporated by extensive primary and secondary research conducted by a research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macroeconomic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for companies, research organizations, healthcare, investment companies, government organizations for overall market analysis and competitive analysis. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models delivering insights into the market for better business decisions.