E-Prescription Market Size is Expected to Reach Revenues of Over USD 3 Billion by 2026

CHICAGO, May 11, 2021 /PRNewswire/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this Global E-Prescribing Market report.

The e-prescription market is expected to grow at a CAGR of over 21% during the period 2020-2026.

Key highlights offered in the report:

  1. The global e-prescription market is expected to witness incremental growth of more than $2 billion and absolute growth above 217% over the forecast period.
  2. The Electronic Prescribing of Controlled Substances (EPCS) segment is expected to experience an absolute growth of more than 265%, with a CAGR of around 24% during the forecast period.
  3. The web and cloud-based segment is expected to grow with the highest CAGR of almost 22% and an absolute growth of over 226% during the forecast period.
  4. The oncology segment is expected to grow with the highest CAGR of over 23% and an absolute growth of over 252% during the forecast period.
  5. Healthcare facilities are expected to witness the highest absolute growth of over 281% and grow with a CAGR of around 25% during the forecast period.
  6. Europe is expected to experience strong incremental and absolute growth of more than $785 million and 245% over the forecast period, respectively.

Key offers:

  • Market Size and Forecast by Revenue | 2020−2026
  • Market Dynamics – Key Trends, Growth Drivers, Restraints and Investment Opportunities
  • Market segmentation – A detailed analysis by type, delivery method, modality, drug type, end user and geography
  • Competitive landscape – 4 key vendors and 16 other vendors

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Electronic prescription market – Segmentation

  • In 2020, standard e-prescribing solutions accounted for a large share of more than 92%, and they expect to see incremental growth of more than $1.9 million during the forecast period. Electronic prescription as part of the complete electronic system helps reduce prescription errors.
  • In terms of delivery, web and cloud software held a major share of over 76% in 2020. The segment is expected to witness the highest incremental growth of over $1.6 billion during the forecast period. Web and cloud solutions are used by many healthcare facilities such as hospitals, pharmacies and outpatient centers; hence, their demand is high during the forecast period.
  • Integrated e-prescribing solutions are in high demand, accounting for a significant 87% share of the segment. It should grow with an incremental growth of approx. $1.9 billion during the forecast period. EHR integrated e-prescribing software is strongly preferred over stand-alone e-prescribing. Embedded software is expected to see the strongest absolute growth of ca. 225% and growing with a CAGR of over 21% over the forecast period.

Electronic prescription market by type

  • Standard electronic prescription
  • Electronic prescription for controlled substances

Electronic prescription market by delivery method

  • Web and cloud based
  • On-site and office

Electronic prescription market by modality

Electronic prescription market by drug type

  • Cardiovascular
  • Anti-infectives
  • Oncology
  • Analgesic
  • Behavioral and mental health
  • Others

Electronic prescription market by end user

  • Technology providers
  • Independent and specialized pharmacies
  • Health facilities
  • Pharmacy Benefit Management (PBM) and Payers

Electronic prescription market – Dynamics

An indication-based prescribing system can reorganize the patient’s medication list into an appropriate grouping with indications, which simplifies the task of medication reconciliation and facilitates medication re-prescription at the time of transitions. These systems also identify duplicates and enable accurate assessment of adjustments and dropouts. Indication ePrescribing enables clear assessments of drug efficacy to support drug outcomes research and enable rapid changes in drug labeling or prescribing for off-label use. Reducing medication choices has been shown to be effective in reducing medication errors. The Institute for Safe Medication Practices (ISMP) has recommended including the purpose of the medication in prescriptions and hospital orders to avoid errors. Knowing the purpose of a drug allows healthcare practitioners to differentiate between drugs with similar names and avoid confusion and prescription errors.

Key Drivers and Trends Fueling Market Growth:

  • Outsourcing e-prescription software development
  • Progress in electronic prescription solutions
  • Increase in demand for EHR services
  • Government initiatives and incentive programs

Electronic prescription market – Geography

Europe has major growth potential in the global e-prescribing market owing to ongoing government initiatives at the country level to implement and mandate the use of e-prescribing of drugs. Other factors such as the prevalence of chronic diseases, the demand for online prescriptions, growing concerns about reducing medication errors, healthcare expenditures, and the adoption of EHRs for telehealth services are driving the adoption of EHRs. electronic prescription solutions in the region. The growing adoption rate of healthcare IT in several European countries will further drive the growth of the e-prescribing market.

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Electronic prescription market by Geography

  • North America
  • Europe
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
  • Middle East & Africa
    • Saudi Arabia
    • Turkey
    • South Africa

Main suppliers

  • Overscripts
  • Dr. Premier
  • Practice the fusion
  • InSync Healthcare Solutions

Other Important Suppliers

  • eRx network
  • Henry Schein
  • AdvancedMD
  • MD Toolbox
  • Bravado Health
  • RXNT
  • DAW systems
  • DoseSpot
  • Chetu Inc.
  • Aegis Health
  • Credible
  • Streamline healthcare solutions
  • Canada Health Infoway
  • DrChrono
  • Bizmatic

Explore our healthcare and life sciences profile to learn more about the industry.

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