The global e-prescribing market size is expected to reach USD 6.0 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 24.5%. Increasing emphasis on reduction of drug abuse & fraud, rising initiatives by the government to digitalize healthcare systems, and growing efforts on reducing medication errors are the major factors driving growth. However, high initial investment and resistance to adoption of new technology, by both patients & healthcare providers, restrain growth. On the other hand, improving healthcare infrastructure and increasing healthcare expenditure in developing countries are anticipated to provide numerous growth opportunities for the market. Moreover, using Electronic Healthcare Records (EHRs) with e-prescribing increases the potential for growth.
E-prescribing is widely used in preparation and maintenance of complete medication lists. Moreover, the technology also aids extraction of complete patient information and formulary with continuous data security checks. These services are gaining traction due to increasing application of technology in the healthcare sector and significant support from governments across the world. For instance, government initiatives include incentive programs to promote e-prescribing, such as the National Council for Prescription Drugs Program and the Clinical Health Act in North America.
According to the U.S. Department of Health and Human Services, 2018, 7,000 to 9,000 people die due to medication errors in the U.S. every year. Furthermore, Adverse Drug Events (ADEs) account for almost 700,000 emergency visits and more than 100,000 hospitalizations. This technology is anticipated to reduce such errors by eliminating handwritten prescription. Moreover, the technology enables the prescriber follow formulary compliance by using the decision support systems, as well as improves the ability to transfer medical prescriptions.
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E-Prescribing Market Report Highlights
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E-Prescribing Market Segmentation
Grand View Research has segmented the e-prescribing market on the basis of the product, delivery mode, end use, usage mode, substances, specialties and region:
E-prescribing Product Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing Delivery Mode Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing End-use Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing Usage Mode Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing Substances Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing Specialties Outlook (Revenue, USD Million, 2014 – 2026)
E-prescribing Regional Outlook (Revenue, USD Million, 2014 – 2026)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.A based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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