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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