E-Prescribing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Globally, the E-Prescribing market is witnessing significant growth led by various government programs to implement E-Prescribing systems in order to improve quality of healthcare and reduce medication errors. The E-Prescribing system is used in various applications including preparation of complete medication list, data security checks, complete information of formulary and patient historical data. These advanced features of E-Prescribing are some of the key driving factors for the market. Additionally, improved healthcare infrastructure has increased the demand for E-Prescribing system. Moreover, implementation of electronic healthcare records with E-Prescribing system holds immense potential for the growth of the market. The global E-Prescribing market was valued at USD 250.2 million in 2013 and is likely to grow at a CAGR of 23.5% from 2013 to 2019 to reach USD 887.8 million by 2019.
Europe has the largest market share in the global E-Prescribing market. Integrated system is the largest E-Prescribing system and web-based E-Prescribing system is the largest delivery mode. Software is the largest component of the E-Prescribing system. Moreover, hand-held device usage mode has the largest market share and hospital is the largest end user of E-Prescribing system.
In terms of growth, North America is the fastest growing region for E-Prescribing market. Services are the fastest growing component of the E-Prescribing system. Cloud-based E-Prescribing system is the fastest growing delivery mode and office-based physician is the fastest end-user of E-Prescribing system.
The global E-Prescribing market valued at USD 111.2 million in revenue in 2009. The market was expanded to USD 203.4 million in 2012, growing at a CAGR of 22.3% from 2009 to 2012.
TABLE 1 Global market of E-Prescribing system, by geography 2013-2019 (USD million)
Electronic prescribing or E-Prescribing system (eRx) is the electronic transmission of prescription related information between prescriber, dispenser and pharmacy benefit manager. E-Prescribing system allows a physician and nurse practitioner to transmit a new prescription electronically when a medication error occurs during pharmacy operations. E-Prescribing system has a wide range of applications. It provides complete medical lists, conducts all security checks and offers complete patient historical data. E-Prescribing market is growing due to various government initiatives have promoted the usage of E-Prescribing system. Furthermore, improved quality of healthcare and reduced prescription errors are supporting the growth of E-Prescribing market. Additionally, advanced features of E-Prescribing system and improved healthcare infrastructure are the key driving factors for the growth of E-Prescribing market.
On the other hand, high cost of E-Prescribing system and lack of patient privacy and security impede the growth of E-Prescribing market. Lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key restraints for the E-Prescribing market.
The report provides in-depth analysis and estimation of the E-Prescribing market from 2014 to 2019, considering 2013 as the base year for calculation. Additionally, data pertaining to current E-Prescribing market dynamics including market drivers, restraints, trends and recent developments have been provided in the report. The global E-Prescribing market is categorized based on product type, components, delivery mode, usage mode, end users and geography. The product type segmentation is further sub-segmented into integrated and stand-alone system. The component segment comprises software, hardware and services. The delivery mode segmentation is further sub-segmented into web-based, on-premise/licensed and cloud-based. The usage mode segmentation comprises PC-based and hand-held device. The end users segment is further sub-segmented into hospital and office-based physician.
Under geographic analysis, the report identifies and analyses the E-Prescribing market size and forecast for Europe, North America, Asia and Rest of the World (RoW). Major players operating in the E-Prescribing market are Henry Schein, Inc., Cerner Corporation, Allscripts, Emdeon and athenahealth, Inc. These key market players have been profiled based on attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.