Dallas, TX -- (SBWIRE) -- 01/16/2013 -- Electronic prescribing can be considered as one important aspect of a larger technological transformation in the healthcare industry. Electronic prescribing is rapidly becoming a standard of practice in the developed countries of the world and a significant rise is seen in the adoption rate among hospitals and office-based prescribers. eRx empowers more informed decision making by making patient formulary, eligibility and medication history information available at the point that prescribing decisions are made. This report analyzes the global market for e-Prescribing systems by product (stand-alone and integrated), deployment modes, usage modes, components, end-users, and geography.
The healthcare industry is witnessing an increased adoption of eRx systems due to the pressing need to curtail healthcare costs, while maintaining the quality of care provided to patients and reduce medication errors and adverse drug events (ADEs). This is expected to drive the market at a CAGR of 26% from 2012 to 2017. The global e-prescription market was pegged at $170 million in 2011 and North America is expected to be the leading region to drive the growth of the market due to increased adoption of eRx systems in this region, particularly in the U.S.
High cost of the e-Prescribing systems and resistance to adoption of technology, by the physician fraternity, restrain the growth of this market. The electronic prescription market is also witnessing a growing demand for integrated e-prescription systems, facilitating the healthcare community to shift towards the implementation of a complete electronic health record system. An article on InformationWeek.com says Black Book Market Research's 2013 ranking of e-prescribing systems predicts substantial growth in 2013, propelled by federal government and commercial health insurance. The use of e-prescribing has grown from 6% of physicians using these systems in 2007 to 65% in 2012, and, as penalties approach, Black Book estimates more physicians will jump on the e-prescribing bandwagon to earn incentive money and achieve Meaningful Use.
"There seems to be an onslaught of clinicians trying to get implementation done in time for Meaningful Use," said Doug Brown, managing partner at Black Book, in an interview with InformationWeek Healthcare. "People were stretched thin with everything, dissatisfaction was there, and some couldn't get a system implemented. According to what we can tell from surveying users, they're spending time looking at vendors because they're having trepidation of not meeting Meaningful Use."
The healthcare industry is plagued by the issue of privacy and maintaining security of patient data. This has been a roadblock for the entry of any new technological solution in the healthcare industry which involves patient data or patient medical records. Moreover, the limited access for experts opinion and technically trained IT professionals is expected to negatively impact the market because there is lack of awareness among end users mainly prescribers, pharmacist and associated staff regarding the working and function of applications, best vendors available in the market, cost of software and long term service provision.
Key players in the market are Cerner Corporation (U.S.), Allscripts (U.S.), Quality Systems, Inc. (U.S.), Emdeon (U.S.), and Athenahealth (U.S.).
Scope of the Report
The scope of the report spans the electronic prescribing systems market which comprises:
Global e-Prescribing Systems Market
- Stand-alone systems
- Integrated systems
By Delivery Mode
- Licensed (on-premise)
- Cloud hosted
By Usage Mode
- Office-based physicians
- North America
- Rest of the World (RoW)
Each section of the report offers market data for the various market segments and geographies. It also provides market trends with respect to drivers, restraints, and opportunities.
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