E-Prescribing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 12/31/2014 -- E-Prescribing is the system to broadcast information related to prescription among prescriber, dispenser, and pharmacy benefit manager electronically that allows a doctor and nurse to broadcast a new prescription electronically when any error in medication takes place at any stage in pharmacy operations. The global E-Prescribing market was worth US$111.2 million in terms of revenue in 2009. The market expanded itself to US$203.4 million in 2012, rising at 22.3% CAGR from 2009 to 2012. In 2013, the market was valued at US$250.2 million and is estimated to reach US$887.8 at 23.5% CAGR from 2013 to 2019.
The E-Prescribing system is used in a number of applications, which includes preparation of complete medication list, complete information of formulary, data security checks, and patient chronological data. These highly developed features of E-Prescribing are some of the main factors that drive the market. In addition to these, enhanced healthcare and medical infrastructure has resulted in the rise in demand for E-Prescribing system. However, increasing cost of E-Prescribing system and lack of the privacy and security of patient create hindrances in the growth of E-Prescribing market. Lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key restraints for the E-Prescribing market.
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Surescripts, a countrywide health information network, recently reported that more than 1 billion prescriptions were sent electronically in the U.S.A in 2013. It was 788 million in 2012.
E-Prescribing Market - Analyzing the Driving Factors :
The E-Prescribing market is analyzed on the basis of various segments, such as products, components, delivery, usage, end-user applications, and regional markets.
By product type, the E-Prescribing market is segmented into stand-alone systems and integrated systems. eClinicalWorks and Cerner Corporation are the top companies in the stand-alone market for eRx systems, while Practice Fusion and Athena Health are the major players of the integrated E-Prescribing market.
By component, the market is divided into hardware, software, and services. The services market is the fastest developing segment since training, deployment, and consultation of IT services is of main concern to the medical and healthcare industry. This is majorly because healthcare providers are not well aware with technology and its usage and require assistance of IT professionals and trained personnel to arrange systems and operate them.
Based on delivery, the market is classified into mode licensed (on-premise), web-hosted, and cloud hosted. This market is led by web-hosted IT providers such as Practice Fusion, Cerner Corporation, and Emdeon.
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Similarly, on the basis of usage, it is categorized into mode PC-based and hand-held devices.
By end-user application, hospitals and office-based physicians are the two segments of the E-Prescribing market.
Geographically, the E-Prescribing market is divided into three categories, North America, Europe, and Asia. Europe accounts for the largest market share in the global E-Prescribing market. Integrated system is the biggest E-Prescribing system and web-based E-Prescribing system is the biggest delivery mode. Software is the main part of the E-Prescribing system. Additionally, hand-held device usage mode holds the largest market share and hospital holds the largest share in end user segment of E-Prescribing market.
In terms of development, North America is the fastest developing region for E-Prescribing market. Services are the top most emerging elements of the E-Prescribing system. Cloud-based system of E-Prescribing is the fastest developing delivery mode and office-based physician is the top most end-user of E-Prescribing market.
E-Prescribing Market - Major Companies :
The key companies of the E-Prescribing market are Allscripts, eClinicalWorks, Practice Fusion, Inc., DrFirst, Emdeon, Henry Schein, Inc., HealthFusion, Inc., Surescripts, Cerner Corporation, and athenahealth, Inc.
Application of electronic medical accounts in accordance with E-Prescribing system has enormous opportunities for the development of the E-Prescribing market.
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