The internet has had a massive impact on the healthcare industry, transforming the way that patients and healthcare providers access and use information. It is changing the healthcare industry as it has made it easier for patients to research health topics and access medical information. Patients now can conveniently search for information on symptoms, conditions, treatments, and medications, allowing them to be more informed about their health. The internet has also enabled patients to communicate with healthcare providers, with the help of email, telemedicine, and online patient portals. Patients can easily schedule appointments, request prescription refills, and access. This is why e-prescribing market is also gathering massive popularity.
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E-prescription is a digital method for healthcare providers to make and send prescriptions to pharmacies with the help of an electronic prescribing system, rather than using traditional paper prescriptions. E-prescription system allows physicians, nurse practitioners, and other healthcare providers to send medication orders to pharmacies directly and securely, bringing down errors, enhancing patient safety, and increasing efficiency. These systems normally need healthcare providers to utilize a specific software program for the purpose of creating and transmit prescriptions electronically, and the pharmacy is compulsory to have a compatible system to receive and process the prescription. Patients can also benefit from e-prescriptions because it eliminates the need to carry a physical prescription and simplifies the process of refilling medications. The global e-prescribing market was worth US$ 2.89 Bn in 2022, anticipated to gain CAGR of 25.4% over the forecast period (2023 – 2031).
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E-prescriptions are constantly becoming more popular each passing day as more healthcare providers and pharmacies are turning towards electronic prescribing systems. Moreover, government bodies across the planet promote their use as part of their efforts to enhance healthcare delivery and bring down costs. E-prescription services are becoming more widely available in developing nations like India, and the use of electronic health records (EHRs) and telemedicine is also skyrocketing. The Indian government has launched numerous initiatives to promote the adoption of digital health technologies, including e-prescription, to enhance healthcare access and outcomes for its population. The exact number of Indians relying on e-prescription may vary depending on factors like access to healthcare, technological infrastructure, and individual preferences. Healthcare infrastructure in countries like China, India, Japan and South Korea is witnessing massive growth, and this will help the region of Asia Pacific to make money at the fastest speed for the global e-prescribing market during the forecast period 2023-2031. The adoption of electronic health record (EHR) systems has been increasing and many EHR platforms include e-prescribing functionality. As more healthcare providers adopt EHRs, it is expected that the demand for e-prescribing will experience marvelous growth.
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One of the leading factor that has been driving the growth of the global e-prescribing market is rise in the demand for e-prescribing solutions for monitoring controlled substance prescriptions. According to a survey conducted by the American Medical Association (AMA), more than 94% of physicians reported using e-prescribing for controlled substances during the pandemic. According to Surescripts, the largest e-prescribing network in the U.S., stated that in 2022, the number of prescribers using e-Prescribing rose by 7.9%, reaching 1.23 million and joining virtually all pharmacies in the U.S. The use of e-prescribing increased during the COVID-19 pandemic as healthcare providers sought to limit in-person contact.
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Key players operating in the global e-prescribing market are mentioned below:
- Advanced Data Systems
- AdvancedMD, Inc.
- Bizmatics, Inc.
- Henry Schein Medical Systems, Inc
- Innovation Compounding
- Kareo, Inc.
- MedicalMine Inc.
- Practice Fusion, Inc.
- PRN Software, LLC
- Streamline Healthcare Solutions
- Veradigm LLC (Allscripts)
- Wolters Kluwer N.V.
- Other Market Participants
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Global e-Prescribing Market Segmentation
Absolute Markets Insights has segmented the global e-prescribing market on the basis of offering, deployment, platform, end-users, regions further bifurcated into countries.
Global e-Prescribing Market Offering Outlook (Revenue, USD Million, 2015 – 2031)
Global e-Prescribing Market Deployment Outlook (Revenue, USD Million, 2015 – 2031)
- Cloud based
Global e-Prescribing Market Platform Outlook (Revenue, USD Million, 2015 – 2031)
- App based
- Web based
Global e-Prescribing Market End Users Outlook (Revenue, USD Million, 2015 – 2031)
- Hospital and Clinics
- Telemedicine and HER companies
Global e-Prescribing Market Regional Outlook (Revenue, USD Million, 2015 – 2031)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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