E-Prescribing Market: Increased Government Initiatives to Bolster Demand

Published: Mon Oct 08 2018

The world E-Prescribing market is experiencing significant growth led by various government programs in a bid to implement E-Prescribing systems so as to improve the quality of healthcare and reduce medication errors. The E-Prescribing system is utilized in various applications comprising patient historical data, data security checks, preparation of complete medication list, and complete information of formulary.

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Some of the eminent players in the world market for e-prescription are Cerner Corporation, DrFirst, HealthFusion, Inc., eClinicalWorks, Henry Schein, Inc., Practice Fusion, Inc., and Athenahealth, Inc.

In accordance with a recent market research report that has been published by Transparency Market Research, the world market for E-Prescribing is forecasted to expand at a CAGR of 23.5% over the period between 2013 and 2019. The report also projects the international market for E-Prescribing to reach a market valuation of around US$ 887.8 mn by the year 2019. The overall market was worth around US$ 250.2 mn in the year 2013.

The world market for E-Prescribing has been regionally segmented into the geographies of Latin America, North America, Asia Pacific, Middle East and Africa, and Europe. From a regional perspective, the international market for e-prescription has largely benefitted from the various activities in Europe. This geographical region has held the lion’s share of the international market for e-prescription in the year 2012. Large-scale implementation of e-prescription systems was made possible in Europe through the efforts of various eHealth projects, comprising Schleswig-Holstein Health Initiative and European Patient Smart Open Services. However, on the other hand, the fastest growth rate in the international market for e-prescription market is being currently held by North America owing to a rapidly developing regional healthcare infrastructure.

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The report sheds light on the emerging developments in the Asia Pacific e-prescription market, which is making use of these systems at an increasing rate, owing to the rapid development of the healthcare infrastructure.

The primary factor that is facilitating the growth of the world market for e-prescription is the set of government initiatives that are being carried out in many countries, regarding the usage of prescription systems that are getting more and more accurate. These comprise initiatives such as the Clinical Health Act and the National Council for Prescription Drugs Program in North America.

The world market for e-prescription provides solutions that better the efficiency of medical practice. E-prescription systems better not only the rate of delivering medical attention, but can also enhance the overall quality of healthcare and assist in the maintenance of accurate drug utilization systems. The world market for e-prescription can also assist with the co-pay data, exhibiting dispensers and other providers with data on entire drug coverage, and formulary alternatives.

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