Government Incentive Programs to Boost the E-Prescribing Market

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.



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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.



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.



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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.



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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.



TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Laboratory Information Systems Market Forecast, 2013 - 2019

According to a new market report published by Transparency Market Research (www.transparencymarketresearch.com) “Laboratory Information System Market (Application Based- Clinical Diagnostics LIS and Drug Delivery LIS; Delivery Based- Web Based Technology, On-premise Technology and Cloud Based Technology; Component Based- Hardware, Software and Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, the global Laboratory Information System market was valued at USD 1,381.4 billion in 2013 and is expected to grow at a CAGR of 7.7% from 2013 to 2019, to reach an estimated value of USD 2,158.0 billion in 2019.

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Globally, improvement in healthcare services is playing a major role in increasing the demand for laboratory information system. As a result, this market is expected to grow at a CAGR of about 7.7% during 2013 – 2019.

Some of the key driving factors for the laboratory information system market are increasing need for integrated healthcare information systems, rising government initiatives and rising investments by healthcare IT players. However, the market faces some restraints such as lack of experienced professionals, high maintenance and service expenses and interoperability issues. The laboratory information system market is also witnessing the use of mobile phones. Also, companies are focusing on new product launches.

North America has the largest laboratory information system market and Europe is the fastest growing laboratory information system market. Some of the fastest growing markets for laboratory information system market are Japan, Germany, U.S. and U.K.. Emerging markets, which hold huge potential and increasing demand for powerful IT systems in diagnostic and medical laboratories are some of the major opportunities for the laboratory information systems market.

Clinical diagnostics laboratory information system has the largest market share on the basis of its applications and is expected to grow at a CAGR of about 8.9% during 2013 – 2019. On the basis of its mode of delivery, the market can be classified into web based technology, on-premise technology and cloud based technology market for laboratory information systems.

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McKesson Corporation is the leading player in the laboratory information systems market. Other major players of laboratory information systems market include Merge Healthcare Incorporated, Cerner Corporation and others.

The global laboratory information system market is segmented as follows:

Laboratory Information System Market, by application mode

Clinical Diagnostics LIS

Drug Delivery LIS

Laboratory Information System Market, by delivery mode

Web based technology

On-premise technology

Cloud based technology

Laboratory Information System Market, by components

Software

Hardware

Services

Laboratory Information System Market, by geography

North America

US

ROW

Asia

Japan

China

Europe

UK

Germany

France

Rest of the World (RoW)

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About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Electronic Health Records (EHR) Market: North America and Europe’s Firm Foothold Will Continue to 2020 Thanks to Government Backing

Paper-based records are being phased out at a rapid pace in the healthcare industry, and paperless healthcare systems are filling this void. Digitization and virtualization are the two biggest trends and they have created a whole new electronic health records (EHR) market within the global healthcare industry. The ball has been set rolling with over 54% physicians in the United States adopting electronic health record systems, as of 2011. These estimates were reported by the U.S. Centers for Disease Control (CDC). In the same year, 50% of physicians who were not already using an EHR system said that they planned to invest in one within the next twelve months.

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A similar change is taking place in the United Kingdom, as by 2018, the National Health Service (NHS) is slated to go entirely paperless. Thus, the market for electronic health records in the United Kingdom looks promising.

Market Forecasts in Numbers: The Electronic Health Records Market will Show a 6.4% CAGR

According to the findings of Transparency Market Research (TMR), a U.S.-based market intelligence firm, the global electronic health records (EHR) market is projected to show a CAGR of 6.4% between 2014 and 2020. This marks an imminent phase of moderate growth that will largely be seen in traditional markets.

The global EHR market can be segmented based on the way the EHR systems are installed as web-based or client server-based. The latter accounted for the better part of the market share in 2013, when considered from the revenue perspective. But, the CAGR of web-based EHR systems is expected to be higher through 2020 largely because such systems have only a nominal upfront cost, and do not call for the installation of hardware systems and components.

The market for electronic health records (EHR) can also be classified based on the end-users that purchase such systems; the market is thus composed of hospitals and ambulatory centers. The former was the dominant segment by revenue in 2013, as 90% of all hospitals in the United States were found to have a certified EHR system in 2013. This estimate was provided by the Annual IT Health Survey conducted by the American Hospital Association (AHA). Most of these hospitals, however, opt for a client server-based electronic health record system simply because it facilitates faster data transmission between multiple facilities when compared with cloud-based electronic health record systems. However, the future growth prospects of the ambulatory centers end-user type are expected to be most promising. The key reason behind this is the higher penetration of cloud-based EHR solutions providers in the market. With minimal or no upfront costs to ambulatory centers, cloud-based EHR systems offer a great solution. Many government health agencies and not-for-profit health organizations have been putting pressure on hospitals and physicians to switch over to electronic health records.

Europe and North America Will Continue Dominance in the Electronic Health Records (EHR) Market to 2020

About 42% of the total global EHR market was held by North America in 2013. The second largest market was that of Europe, which was followed by Asia Pacific. Till 2020, these rankings are unlikely to change, as North America will continue to hold a lead over other regional markets supported by solid government funding.

However, the EHR market is gathering steam in Australia and New Zealand as well as Asian countries such as China, Japan and India. The three Asian economies will exhibit the fastest growth, and will grow consistently to contribute to a major chunk of the market revenues by 2020.

The leaders in the electronic health records market have a grip on over 50% of all revenues. These leading players include: Cerner Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, GE Healthcare and Epic Systems.

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Geographically, the global EHR market has been classified into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecast for each of these regions along with the CAGR has been provided in the report.

The study on the global EHR market also suggests a list of recommendations for new companies willing to enter the market and for existing companies to accentuate revenue shares. The report concludes with the profiles of major players in the global EHR market such as Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems, Medical Information Technology, Inc. (MEDITECH), McKesson Corporation, NextGen Healthcare (Quality Systems, Inc.), Computer Programs and Systems, Inc. (CPSI), GE Healthcare and eClinicalWorks. Each company profile in the report provides information under the heads: company overview, financial overview, product portfolio, business strategies and recent developments.

The company overview section comprises basic information about the company such as major business areas, company’s brief history and its establishment year, number of employees and geographical presence. In the financial overview section, annual revenue for the last three consecutive years (2011, 2012 and 2013) has been provided. The business strategies section mentions key strategies adopted by the company in the past to strengthen its position in the EHR market. The recent development section gives information about the recent happenings in the companies operating in the EHR market.

The global EHR market is segmented as follows:

Global EHR Market, by Installation Type

Web-based EHR System

Client Server-based EHR System

Global EHR Market, by End-user

Hospitals

Ambulatory Centers

Global EHR Market, by Geography

North America

Europe

Asia-Pacific

Rest of the World (RoW)

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector — such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.