E-Prescribing (e-Rx) Market to Witness Rapid Growth in Demand During 2018 - 2025
Electronic prescribing (E-Prescribing system/e-Rx) is the form of electronically generated medical prescription used widely for the sharing of data and information between prescriber, pharmacy and dispenser.
E-Prescribing system facilities the practitioner to generate a new prescription electronically whenever treatment error occurs during healthcare operations. E-Prescribing system offers extensive range of applications. It provides comprehensive form of medical data, ensures all security checks and patents identification. It offers complete privacy to the disease information and patientâs identification with present and historical data.
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Based on the different product type the global e-prescribing market can be broadly classified as, stand-alone systems, and integrated systems. Based on the different components of electronics prescribing the global e-prescribing market can be segmented as software and hardware (including access devices, peripherals, servers, storage devices, and networking devices) and services (including consulting, implementation services, post-sale & maintenance and training services). On the bases of mode of the delivery of the e-prescription the global e-prescription market can be classified as on premise, web-based and cloud. Further, based on the end user application the market can be segmented as hospitals and office-based physicians.
The global e- prescription market is predominantly driven by the increasing adoption of e-prescription in healthcare systems. It offers cost benefits over the conventional prescription market in longer run while ensuring quality healthcare services to patients at minimized treatments and adverse drug errors. Moreover the various government initiatives such as American Recovery and Reinvestment Act (ARRA) in 2009 for the advancement of the Healthcare IT, and HITECH Act is driving the demand of e-Prescribing systems in North America.
High initial cost of the electronics prescription systems is one of the major challenge for the growth of the market especially in the cost conscious developing countries of Asia Pacific region. Moreover the lack of interest towards the technology, by the physician especially in developing countries is also restraining the growth of this market.
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Europe was the largest market of e-prescription in 2013, followed by North America and Asia Pacific region. The market of e-prescription in Middle East, and Africa are in nascent stage. Asia Pacific and North America are two of the fastest growing market of the E-prescription. Country wise, U.S. is the largest market of e-prescription in North America. Germany, Italy, and Spain are some of the major market of e-prescription in Europe. In Asia Pacific, China, Japan, and India are fastest growing market of e-prescription attributed mainly to the strengthening healthcare services and advancement of the information technology in this region.
Major Competitors: The global e-prescription market is dominated by Bioclinica, Inc., Bizmatics Inc., CRF Health, DATARAK International, Inc., eResearch Technology, Inc., Some of the top competitors in the global clinical trial management system market are e-MDs, Inc., iMedX, Inc., Practice Fusion, Inc., SureScripts-RxHub, LLC, eClinicalWorks, LLC, and Quality System, Inc.
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