E- Prescribing Market to Accrue 21.4% of CAGR During 2026
An increasing number of medical errors in chemotherapy has led to the adoption of the technology in hospitals specifically for oncology.
PORTLAND, PORTLAND, OR, UNITED STATE, October 12, 2022 /EINPresswire.com/ — Rise in the development of customer-centric strategies to improve the affordability, access, and quality of health care records, the adoption and effective use of interoperable electronic health record (EHR) systems and other health information technologies (HIT), including those for electronic prescribing, have gained high traction from the recent past.
Technological advances, especially in application interfaces for handheld devices and wireless network technologies have encouraged physicians to adopt new prescribing approaches. This has resulted in a rise in the adoption of e-prescribing systems and applications among clinical firms.
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The rise in the adoption of e-prescribing in the healthcare industry across the globe is a major factor expected to drive the e-prescribing market growth. Moreover, the use of electronic prescribing has allowed clinicians to accurately and efficiently communicate prescribed patient drug therapy to dispensing pharmacies, hence minimizing or eliminating common sources of medication errors. Which in turn impacts the growth of the e-prescribing market positively during the forecast period.
By component, the solutions segment dominated the overall e-prescribing market in 2018 and is further expected to endure traction for e-prescribing among organizations during the forecast period. The rise in the integration of e-prescribing among EHR and HIT systems is a major factor that drives the growth of the segment in the global market.
Moreover, the services segment has witnessed significant growth in the electronic prescribing market, in terms of CAGR during the forecast period. This is attributed to the e-prescribing services suite that includes installation, consulting, maintenance, and support services.
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North America dominated the electronic prescribing market in 2018 and is expected to continue this trend during the forecast period in the e-prescribing market forecast as an axiom by numerous parties have accepted e-prescribing technology heralded as a vast improvement to the U.S. healthcare systems. Asia-Pacific is anticipated to register a high CAGR in the global market in the coming years.
Some of the key market players profiled in the e-prescribing market analysis include Allscripts Healthcare, LLC, Athenahealth, Inc., Cerner Corporation, Change Healthcare, DrFirst.com, Inc., eClinicalWorks, Epic Systems Corporation, Medical Information Technology, Inc., Practice Fusion, Inc., and Surescripts.
Major players operating in this market have witnessed growth in demand for e-prescribing, especially due to its benefits such as improved patient safety, fewer medication errors due to handwritten prescriptions, fewer medication errors due to misunderstood phoned-in prescriptions, and less risk of lost or misplaced written prescriptions. This study includes market analysis, trends, and future estimations to determine the imminent investment pockets.
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Key Findings of the Study:
• By component, the solutions segment dominated the e-prescribing market. However, the services segment is expected to exhibit significant growth during the forecast period in the e-prescribing industry.
• By deployment, the web and cloud-based segment dominated the e-prescribing market share in 2018. However, the on-premise segment is expected to exhibit significant growth during the forecast period.
• Depending on the end user, the hospital industry generated the highest revenue in 2018. However, the office-based physicians sector is expected to witness considerable growth in the near future.
• Region-wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years.
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