Global e-Prescribing Market is poised to witness a healthy CAGR of 22% to reach $4 billion by 2026 - Key Market Players are Allscripts, NextGen, AdvancedMD, MDToolbox, Practice Fusion

e-Prescribing is the prescriber's ability to electronically send a correct, error-free, and understandable prescription directly to a pharmacy from the point of care.

Covid-19 Pandemic Fuels the Growth of the e-Prescribing Market

Covid-19 pandemic had severely impacted all the health services globally and health care service providers were forced to change their methods of service delivery. Duting the Covid-19 pandemic, e-Prescribing emerged as a crucial tool in creating a safe environment to avoid the spread of Covid-19 virus, minimizing in-person consultations and paper prescription handling.

Benefits of e-Prescription Triggers the e-Prescribing Market Demand all across the World

Growing usage of technology across every segment of healthcare has enabled the increased demand for e-prescription globally.

Some of the major benefits of e-prescribing which are driving its global demand are as follows:

• Reduced Pharmacist Error: As compared to hand-written and manual prescriptions, e-prescriptions are explicit and clear in terms of prescribing treatment and dosage. This leads to reduced medication errors as it requires less interpretation from pharmacists.
• Instant Clinical Notifications: e-Prescribing systems provide notifications to prescribers about allergies, potential drug interactions, duplicate therapies, pregnancy and other issues that would be contraindicated for a patient when taking a particular medication.
• Prescription Fulfillment Tracking: e-prescription systems help doctors/clinicians track whether or not patients are adhering to prescribed medication/treatment.

"Electronic Prescribing for Controlled Substances (EPCS) mandate in the United States allows clinical prescribers to write prescriptions electronically for controlled substances. More than half of the USA falls under EPCS mandates. It is an important tool to reduce unwarranted deaths caused due to drug overdose. Growing EPCS mandate in USA states is likely to drive the e-prescribing market."-Senior Director, Leading Electronic Prescribing Service Provider, USA

Growth Strategies Adopted by Leading Market Players to Establish Their Foothold in the Global e-Prescribing Market

The global e-Prescribing market is marked by the presence of both established and upcoming industry players. Players operating in the global e-Prescribing market have adopted both organic and inorganic growth strategies such as new product launches, collaborations and acquisitions to garner a higher market share.

For instance,
• In March 2022, FDB (First Databank, Inc.), the top provider of drug and medical device databases, launched FDB Vela, a new, cloud-native electronic prescribing (ePrescribing) network that enables the seamless flow of critical medication prescription information, benefits verification, and clinical decision support between prescribers, payers, pharmacies, and other constituents.

Covid-19, favorable regulatory environment in selected countries, growing utilization of telemedicine, increasing focus on reducing the abuse of controlled substances, rapid adoption of EHR solutions, government initiatives and incentive programs are some of the leading factors driving the growth of the global e-Prescribing market. However, limited technology awareness among the product end-users is likely to hamper the growth of this market.

Competitive Landscape Analysis: e-Prescribing Market

The global e-Prescribing market is marked by the presence of established market players such as Allscripts, NextGen Healthcare, AdvancedMD, MDToolbox, Practice Fusion, DrFirst, RXNT, Chetu, PrognoCIS, NewCrop, among others.

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Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.