E-prescribing Market to Exhibit 21.0% CAGR by 2026; Easy Availability of Potential Emergency Medication Data on Immediate Basis will Augment Growth

The global E-prescribing market size will USD 4,017.79 million by 2026 on account of the increasing number of chronic diseases and the rise in need for providing immediate medical history. E-prescription technology helps to generate computerized prescription and can be transmitted to any hospital or pharmacy with the help of an e-prescribing software program. A recently published report by Fortune Business Insights™ offers an elaborate overview of the market and its prime growth parameters. As per the report titled, “E-prescribing Market Size, Share & Industry Analysis, By Delivery Mode (Web-based, On-premise), By Prescription Type (Controlled substance, Non controlled Substances) By End User (Hospitals, Physician's offices, Pharmacies) and Regional Forecasts, 2019-2026,” the market earned USD 863.64 million in 2018. It will grow at an exponential CAGR of 21.0% between 2019 and 2026.

Collaborative Efforts between Leading Companies will Aid in Expansion of Market

Epic Systems Corporation entered into a collaboration with DrFirst, the leading provider of e-prescribing solutions for the production of the first real-time benefit check service called ‘myBenefitCheck.’ This was produced, keeping in mind the price transparency of drugs prescribed to patients. This will help both the patient and doctors to drive medication adherence as per the understanding of the cost of drugs included.

The president of DrFirst G. Cameron Deemer said, “high cost of medication is slowly leading to rising in prescription abandonment issue, and this application will help to solve all such issues by maintaining transparency and providing the necessary information to patients at the point of service.”

MyBenefitCheck helps prescribers to keep a check on both non-covered and covered drugs and patient-assistance programs for lowering the cost. Moreover, physicians can suggest alternative medications to patients that do not require prior authorization, thereby helping patients get a diagnosis at a faster pace. Such innovations are expected to promote the market for e-prescription in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/e-prescribing-market-102698

Drivers

Rising Prevalence of Various Diseases will Drive Market

The increasing prevalence of various chronic diseases and the advent of digitalization in medical practicing pharmaceutics are promoting e-prescription market growth. Additionally, the rising rate of adoption for integrated EHR (Electronic Health Record System) and the efficient work in terms of clinical application is also anticipated to boost the market. On the contrary, the high cost of e-prescribing solution installation and maintenance costs may pose a significant challenge for market growth. This, coupled with the lack of healthcare support from IT in most of the under-developed and developing nations, may cause hindrance to the growth of the market in the forthcoming years.

Nevertheless, additional information such as patient’s medical history and diagnosis research will help attract high market revenue in the coming years. Furthermore, the declining rate of medical errors and creative innovations by various companies operating in this market will create lucrative growth opportunities in the coming years.

As per current e-prescribing market trends, and competitive landscape, the market is dominated by Epic Systems Corporations owing to their strategic presence and a strong portfolio. This, coupled with the secure network of this company with significant and small hospitals such as Vanderbilt Health System, Health System, John Hopkins Health System, UNC Health System, and others are likely to help this company continue dominating the market in the forecast period. Besides this company, the presence of many players in the market is leading to the competitive nature of the market. These vendors are adopting mergers and acquisitions, company collaborations, joint ventures, and other strategies to gain momentum in the market.

Key Industry Developments

• December 2019 –  RxRevu announced their merger and acquisition with Cerner Corporation for integrating their patient prescription and pharmacy pricing solution into EHR (Electronic Health Record), thereby providing cost-effective medication to patients.
• February 2018 – DrFirst introduced the first-ever intelligent e-prescribing mobile application for fighting adherence to medication and opioid over-prescribing cases.

List of Significant E-prescribing Market Manufacturers include:

• EClinicalWorks
• Epic Systems Corporation
• Surescripts
• Athenahealth
• Practice Fusion, Inc.
• Cerner Corporation
• NextGen Healthcare
• Allscripts Healthcare, LLC
• Medical Information technology Inc., (MEDITECH)
• Others

Further Report Findings

• North America held the largest e-prescribing market share with a revenue of USD 399.61 million in 2018. This is attributable to the flexible regulatory scenario and rise in funding from both private and public organizations.
• With respect to segmentation by the end user, the hospitals segment earned the largest market share owing to the rising adoption of these solutions in hospital settings.

This Market is segmented into: