Global Electronic Prescribing and Administration System Market Size was valued over US$ 1270.3 million in 2020 – registering a CAGR of 17.1% between 2020 and 2030. Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Nextgen Healthcare Inc., Medical Information Technology Inc., Relayhealth Corporation are key players operating in the market.
The major factors augmenting the growth of the Electronic Prescribing and Administration System market include shift from physicians’ solo practice to that of working in multidisciplinary centers. In addition, technological advancement in e-prescribing solutions coupled with growing demand for electronic health record services is expected to propel the sales in coming years.
These platforms have also improved the convenience of patients and resulted in rising demand for the model across world especially in developing regions. Advent of online pharmacy has further accelerated the momentum for e-prescription worldwide. As of 2021, global electronic prescribing and administration system is led by North America and Western Europe. However, the major opportunity lies in addressing the vast unmet needs of changing developing Asia Pacific and Latin America market.
Electronic Prescribing Competition Landscape
Electronic prescribing market is substantially consolidated wherein top five players accounted for 27.4% market share. Cerner Corporation and Surescripts, LLC are market leaders.
Key Trends and Factors Driving Electronic Prescribing and Administration System Market
- Emergence of Telehealth Solution: Telehealth has helped expand access to care at a time when the pandemic has severely restricted patients’ ability to see their doctors. COVID-19 has caused a massive acceleration in the use of telehealth. Less than 11% of total consumers were using telehealth solutions in 2019, which increased to 79% in 2020. Increasing adoption of telehealth solution will continue to create favourable ecosystem for e-prescribing vendors worldwide.
- Improved Patient Compliance: IoT enabled healthcare may provide value-added information to consumers, such as drug interactions, side effects, medicine reminders, and information on cheaper substitutes. This power of knowledge enables the consumer to improve compliance. Furthermore, ease of convenience has increased with advent of e-prescribing systems. Patients (consumer) would be able to order medicines in a convenient manner from their mobile phones or computers. This will significantly help patients who are old and sick and not in a condition to go out to find a pharmacy.
- Product Development and Launch continues to play a major role in e-prescribing industry. Key players focus on partnering with various players in order to broaden their network, enhance their presence, and develop new solutions through integration and upgradation. For instance, In August 2021, Surescripts, LLC partnered with GoodRx in order to integrate its real-time drug discount pricing in the latter company’s electronic health records.
E-Prescribing Market Analysis, By Type
On the basis of type, global electronic prescribing industry revenue is segmented on the basis of software and services. Revenue from software is further breakdown to on-premise and cloud based software.
Software dominated the revenue share. Growth in the segment is mainly driven by growing adoption of digital health in hospitals. Also, increasing demand for integrated electronic prescribing systems will create new opportunities for engaged vendors
E-Prescribing Market Analysis, By End-user
On the basis of end-user, electronic prescribing market is segmented into hospitals, office based physicians, pharmacies, and others. In 2021, hospitals accounted for 51.3% of total electronic prescribing software sales.
Electronic Prescribing Market Analysis, By Region
In 2021, North America dominated the global e-prescribing and administration system market. North America e-prescribing market was valued at US$ 396.6 million in 2021. Growth in the region is mainly attributed to higher digital enablement along with presence of large number of specialized hospitals. In addition, favourable reimbursement policies and higher healthcare spending are few other factors driving the electronic prescribing software sales in the region.
Leading Electronic Prescribing and Administration System Market Players
Some of the key companies covered in the report are:
- Cerner Corporation
- Epic Systems Corporation
- Allscripts Healthcare Solutions, Inc.
- Athenahealth Inc.
- NextGen Healthcare, Inc.
- Medical Information Technology, Inc.
- Relayhealth Corporation
- Henry Schein, Inc.
- eClinicalWorks, LLC
- Surescripts, LLC
Electronic Prescribing and Administration System Market – Report Taxonomy
The 2022 report edition of e-prescribing market is analyzed on the basis of type and end-user
- Support & Maintenance
- Implementation Services
- Training Services
What Will You Discover in the Report?
- An in-depth analysis of the e-prescribing market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the e-prescribing market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the electronic prescribing market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the e-prescribing industry during the forecast period
- Who are the e-prescribing industry leaders and what are the key initiatives taken by them for long term growth
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