Growing with 21.4% CAGR | The E-Prescribing Market Projected to Reach USD 4.15 Billion by 2026

Allied Market Research published a new report, titled, " Growing with 21.4% CAGR | The E-Prescribing Market Projected to Reach USD 4.15 Billion by 2026 ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Increase in focus on lowering down fraud and abuse of controlled substances, requirement to reduce escalating healthcare costs, and supportive government initiatives drive the global e-prescribing market. Untapped potential in emerging nations in Asia-Pacific would create new opportunities in coming years.

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The e-prescribing market size was valued at USD 885.6 million in 2018, and is projected to reach USD 4,152.7 million by 2026, growing at a CAGR of 21.4% from 2019 to 2026.

The e-prescribing market segmentation is based on component, deployment, end user, and region. By component, it is categorized into solutions and services. On the basis of deployment, it is divided on-premise and cloud. Depending on end user, it is classified into hospitals, office-based physicians, and pharmaceuticals. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Covid-19 Scenario-

● The outbreak of covid-19 led to increase in demand for electronic prescribing solutions, since there's been a steep rise in need for improved patient safety and fewer medication errors often found in handwritten prescriptions.

● This trend is most likely to continue post-pandemic as well, as it aids in evading the hassle of visiting doctors' chambers in person, thereby catering to the social distancing norms as well.

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Based on component, the solutions segment held more than four-fifths of the total share of the global e-prescribing market in 2018, and is expected to maintain its dominance during the forecast period. This is attributed to the requirement for integration of technological solutions that include healthcare IT and various other modules such as e-prescribing for economic and digital clinical health systems. However, the services segment is expected to maintain the largest CAGR of 23.3% from 2019 to 2026. This is due to emergence of innovative systems that offer instant care and patient-centric services.

Based on deployment, the web and cloud-based segment accounted for the highest share of the global e-prescribing market, accounting for more than half of the total market in 2018, and is expected to maintain its lead position during the forecast period. Moreover, this segment is estimated to grow at the fastest CAGR of 23.7% from 2019 to 2026. This is attributed to the need for modern IT infrastructure and focus toward integrating novel technologies into the existing infrastructure. The research also analyzes the on-premise segment.

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Based on region, North America accounted for the highest market share in 2018, accounting for nearly two-fifths of the global e-prescribing market, and is expected to maintain its lead status in terms of revenue by 2026. This is due to increase in adoption of e-prescription integrated systems and rise in adoption toward advanced healthcare technology products. However, Asia-Pacific is estimated to portray the largest CAGR of 24.3% from 2019 to 2026, owing to increase in per capita healthcare expenditure along with high population rate in Asia-Pacific countries.

The key market players analyzed in the global e-prescribing market report include Allscripts Healthcare, LLC, Athenahealth, Inc., Cerner Corporation, Change Healthcare, DrFirst.com, Inc., eClinicalWorks, Epic Systems Corporation, Medical Information Technology, Inc., Practice Fusion, Inc., and Surescripts. These market players have implemented several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

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