Global E-prescribing Market Size, Share, Trends, Growth and Forecast

E-Prescribing Market

Market Overview:

Over the forecast period, 2019-2024, the E-prescribing market is estimated to register a CAGR of about 18.3%.

• Medical prescriptions are written instructions that doctors advise and authorize patients to buy and use prescription medications and treatments.

• Prescription errors can occur owing to a multitude of factors, such as absence of understanding and skill by the pharmacist, and miscommunication among others between nurses and physicians.

• Among medication errors, prescription mistakes are one of the main causes of concern for healthcare practitioners worldwide, as they represent 70% of total medication errors and are recorded in both general practice and hospitals.

• Although they are rarely deadly, they may adversely affect the health and management of the patient s disease. Besides being a danger to the well-being of the patient, prescription mistakes are the prevalent cause of allegations against physicians and healthcare practitioners for legal and medical malpractice.

• Recent surveys in the United Kingdom, including one commissioned study from the General Medical Council GMC, indicate that prescribing mistakes have been found to impact about 9–15% of hospital-inpatient drug orders.

• In most instances, prescription mistakes and faults can be avoided by around 85% by using e-prescription systems. By applying alert and warning systems in relation to offering patients with a full background medical history, the e-prescribing systems can further reduce the mistakes when prescribing.

Report Portfolio:

E-prescribing is a technology framework that enables doctors and other medical professionals to write and send prescriptions in an electronic format to a participating pharmacy instead of using written prescriptions.

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Key Market Trends: –

The stand-alone e-prescription system segment is expected to grow steadily during the forecast period:

• The stand-alone e-prescribing scheme is an autonomous single entity system used by patients to e-prescribe drugs.

• This scheme operates on a single-mode software, through which physicians or physicians prescribe drugs on an electronic platform to patients.

• Stand-alone applications for e-prescribing are cheaper and simpler to install than integrated systems. However, stand-alone applications may not have all the features you ll find in an e-prescribing module connected to an EMR.

• Stand-alone applications may require any clinical information to be entered twice. This needs extra job and increases the hazards of extra mistakes, slowing down the whole process.

• Stand-alone systems applications are gradually phased out from the healthcare IT sector as they are substituted by more efficient and effective integrated systems.

• Another important reason for this trend change from stand-alone to integrated systems is the valuable prescription taking into account a patient’s historical information. The stand-alone system does not hold the patient s historical information, so sometimes it may not be suitable to follow up the prescription.

North America is dominant in the market and is expected to remain the same

• In the forecast period, North America is expected to dominate the overall market.

• The U.S. holds the largest market share in the North America region, primarily due to government initiatives and incentive programs to promote the e-prescription system, and rising demand for e-prescription system in the U.S.

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Competitive Landscape Report:

• The e-prescription market is extremely competitive and is made up of several significant players. In terms of market share, the market is presently dominated by very few of the main players.

• With increasing rates of patient awareness, minimizing prescription mistakes, improving health care quality and reducing costs, companies are attempting to innovate more products to maintain competition.

• Cerner Corporation, HealthFusion, Inc., eClinicalWorks, Allscripts Healthcare Solutions Inc., and Aprima Medical Software, among others are some of the main players on the market.

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