ePrescibing Market

ePrescibing Market Overview from 2024 to 2034

The ePrescibing market is expected to grow at a CAGR of 27.1% during the projected period. The market value is projected to increase from USD 4.8 billion in 2024 to USD 52.2 billion by 2034.

ePrescibing Market Size, Analysis, and Insights

• The increasing demand for efficient and accurate electronic prescribing systems can help reduce medication errors and improve patient outcomes.
• The rising need to improve medication safety and reduce prescription errors is driving the market. Governments and regulatory bodies around the world are implementing new regulations and guidelines to promote the adoption of ePrescribing systems and encourage healthcare providers to use digital tools for medication management.
• The rising prevalence of chronic diseases and the growing elderly population are also driving the demand for ePrescribing solutions.
• Patients require complex medication regimes and often require multiple prescriptions, making it essential to have accurate and efficient medication management systems in place.
• Increasing adoption of cloud-based ePrescribing solutions, as they offer several benefits, including scalability, flexibility, and cost-effectiveness is also resulting in market growth.
• Cloud-based systems enable healthcare providers to access patient data and medication information from anywhere, at any time, making it easier to deliver high-quality care to patients.

Attributes	Details
ePrescibing Market Size, 2024	USD 4.8 billion
Projected Market Size, 2034	USD 52.2 billion
Value-based CAGR (2024 to 2034)	27.1%

Key Opportunities for the ePrescibing Market

• The increasing adoption of electronic health records (EHRs) by healthcare providers.
• Rising need for more accurate and efficient prescribing reduces errors and improving patient safety.
• Growing need to reduce healthcare costs by minimizing waste and improving medication adherence is expected to create lucrative opportunities over the forecast period.
• The demand for mobile healthcare solutions is increasing. Patients are becoming more comfortable with using mobile apps and other digital tools to manage their health, and ePrescribing systems are no exception.
• Growing need for healthcare providers to streamline their workflows makes mobile prescribing solutions the best tool.
• Pharmaceutical companies can also benefit from the ePrescribing market by leveraging data to improve medication adherence and patient outcomes. By analyzing prescribing patterns, pharmaceutical companies can identify opportunities to improve their products or develop new treatments.

Challenges in the ePrescibing Market

• Interoperability is expected to hamper the market during the forecast period.
• EHRs are often designed by different vendors and have varying levels of compatibility, which can make it difficult to share data across different systems. The difficulty leads to errors and duplication of data, which can ultimately compromise patient safety and the integrity of the healthcare system.
• The lack of standardization leads to medication errors, which can be dangerous for patients and can also result in additional healthcare costs.
• Rising concerns regarding data privacy and security also restrict market growth.
• As more patient data is digitized and shared across different platforms, there is an increased risk of data breaches and cyberattacks.
• Ensuring the security and privacy of patient data is crucial to maintain patient trust and credibility of the healthcare system.

Category-wise Insights

The Solutions Segment Dominates the Market by Product Type

Attributes	Details
Top Product Type	Solutions
CAGR from 2024 to 2034	26.9%

• The complete end-to-end solution by healthcare providers drives the segment’s growth in the market.
• Increasing need for reducing medication errors, increasing patient safety, and improving efficiency in the prescription process drive the segment’s growth.
• Solutions are designed to integrate with electronic health records (EHRs), enabling seamless tracking of patient medication histories and reducing the risk of prescription drug abuse.
• As a result, healthcare providers are increasingly adopting e-prescribing solutions, driving the growth of the solutions segment.

The Web/Cloud-Based Segment Dominates the Market by Delivery Mode

Attributes	Details
Top Delivery Mode	Web/Cloud-Based
CAGR from 2024 to 2034	26.7%

• Rising need for convenience and accessibility is boosting the market.
• By using web-based e-prescribing, healthcare providers can easily access patient information from anywhere with an internet connection, which allows them to quickly and securely prescribe medications to patients without having to be in the same location as them.
• Web-based e-prescribing systems often come with features such as drug interaction checking and patient history tracking, which can help reduce the risk of medication errors and improve patient outcomes.
• Cloud-based e-prescribing allows for easier integration with other healthcare IT systems, such as electronic health records (EHRs), which can help streamline workflow and improve overall efficiency in healthcare settings.

Country-wise insights

Countries	CAGR through 2024 to 2034
United States	27.3%
United Kingdom	27.6%
China	27.4%
Japan	28.6%
South Korea	28.8%

Surge in Oil and Gas Production in the United States

• The increasing need for accuracy and efficiency in healthcare in the United States.
• Electronic prescribing is much more accurate than traditional paper-based methods, reducing the risk of medication errors and improving patient safety.
• Growing need for convenience for healthcare providers and patients in the United States.
• In line with ePrescribing, healthcare providers can easily send prescriptions to pharmacies, eliminating the need for patients to physically visit their doctors to pick up paper prescriptions.
• ePrescribing not only saves time but also reduces the chances of prescription errors.
• The government has also been promoting the adoption of ePrescribing.
• The Centers for Medicare & Medicaid Services (CMS) have introduced incentive programs to encourage healthcare providers to adopt electronic prescribing.
• The incentive programs aim to improve healthcare quality, reduce costs, and promote the use of technology in healthcare.

Increasing Use of Solid Sulphur in the Chemical Industry in the United Kingdom

• By implementing electronic prescribing systems, healthcare providers can save time and reduce the risk of errors associated with traditional paper-based prescribing methods. Implementation leads to safer and more effective patient care, as well as lower costs and increased productivity for healthcare providers.
• Rising focus on patient safety in the United Kingdom is driving the market demand.
• With electronic prescribing, healthcare providers can reduce the risk of medication errors, such as prescribing the wrong medication or incorrect dosage.
• Electronic prescribing systems can also help to identify potential drug interactions or allergies, which can prevent adverse reactions and improve patient outcomes.
• The adoption of digital technologies in the healthcare industry has made ePrescribing more accessible and user-friendly in the United Kingdom.
• With the use of smartphones, tablets, and other mobile devices, healthcare providers can access patient records and prescribing information quickly and easily, improving the accuracy and efficiency of the prescribing process.

Rising Focus on Agriculture Development in China

• The increasing population of elderly citizens who require medication management.
• With the use of ePrescribing, doctors and pharmacists can easily access patient medication histories, avoid prescription errors, and improve medication adherence.
• The government's push for healthcare reforms in China is also driving the market forward.
• The Chinese government has recently introduced policies to promote the use of electronic medical records and other healthcare technologies, including ePrescribing.
• The government initiatives have led to increased investments in ePrescribing systems by healthcare providers and hospitals.
• Increasing need to reduce healthcare costs and boost efficiency. With electronic prescriptions, doctors can quickly and accurately send prescriptions to pharmacies, reducing the need for paper-based processes.
• ePrescribing reduces the risk of prescription errors, which can lead to adverse drug events and other negative health outcomes.

Increasing Production of Fertilizers in Japan

• Increasing elimination of paper prescriptions and widespread adoption of electronic medical records (EMRs) in Japan is fueling market growth.
• ePrescribing not only saves time but also reduces errors, as illegible handwriting and incorrect dosages can be avoided.
• It helps prevent prescription fraud and abuse, as the system can track prescriptions and monitor patient history.
• With EMRs, doctors can access patient information easily and quickly, enabling them to make informed decisions about prescriptions.
• ePrescribing can be integrated with EMRs, making the process even more seamless.
• The COVID-19 pandemic has accelerated the adoption of ePrescribing in Japan.
• With social distancing measures in place, people are avoiding unnecessary visits to hospitals and clinics.
• ePrescribing allows doctors to prescribe medicines remotely, reducing the need for in-person consultations.

Expansion of the Petrochemical Industry in South Korea

• Increasing need to reduce medication errors in South Korea. The use of paper-based prescriptions can increase the risk of medication errors, such as prescribing the wrong dosage or medication.
• ePrescribing can help to reduce these errors by providing doctors with real-time access to a patient's medication history, allergies, and other relevant information.
• Increased efficiency in healthcare delivery allows doctors to quickly and easily send prescriptions to pharmacies, reducing the time spent on administrative tasks with increased focus on patient care.
• ePrescribing can help to reduce the number of medication-related phone calls between doctors and pharmacies, further streamlining the healthcare delivery process.
• The growing need for better healthcare services is also contributing to the increase in demand for ePrescribing in South Korea.
• Patients are increasingly demanding more convenient and efficient healthcare services, and ePrescribing can help to meet these demands by providing patients with a more streamlined and convenient prescription process.

Competitive Landscape

The ePrescribing market is constantly evolving with the emergence of new players in the industry. Companies offer a range of solutions for electronic prescribing, such as software platforms, mobile applications, and cloud-based services.

Additionally, several smaller companies and start-ups are entering the market and providing innovative solutions to meet the growing demand for e-prescribing services. Overall, the competition in the market is intense, and companies are constantly striving to differentiate themselves by offering unique features and capabilities.

Recent Developments

In 2020, DrFirst, a United States-based company, collaborated with ID.me to streamline the process of identity verification when using iPrescribe, the mobile e-prescribing application developed by DrFirst.

Key Market Players

• Surescripts
• Allscripts Healthcare Solutions, Inc.
• Cerner Corporation
• GE Healthcare
• RelayHealth Corporation
• Athenahealth, Inc.
• DrFirst, Practice Fusion Inc.
• Medical Information Technology, Inc.
• Henry Schein, Inc.

Key Coverage in the ePrescribing Market

• Global ePrescribing Market Trends
• Incentive Programs in Key Countries Fostering Adoption of Electronic Prescription
• Top ePrescribing Software Developers
• Innovations in ePrescribing Solution Market
• eRX Software Adoption Trends in Key Regions

Key Market Segments

By Product:

• Solutions
  • Integrated Solutions
  • Standalone Solutions
• Services
  • Support
  • Implementation
  • Training
  • Network

By Delivery Mode:

• Web/Cloud-Based
• On-premise

By End Use:

• Hospital
• Office-based Physicians
• Pharmacy

By Usage Methods:

• Handheld
• Computer-Based Devices

By Substances:

• Controlled Substances
• Non-controlled Substances

By Specialities:

• Oncology
• Sports Medicine
• Neurology
• Cardiology
• Others

By Region:

• North America
• Latin America
• East Asia
• South Asia
• Europe
• Oceania
• MEA

Frequently Asked Questions

How Big is the ePrescribing Market in 2024?

The ePrescribing market is estimated to be valued at USD 4.8 billion in 2024.

What is China’s Market Outlook?

The market in China is expected to progress at a CAGR of 27.4% over the forecast period.

Which Product Segment Contributes More to the ePrescribing Market?

The solutions segment is expected to register a 26.9% CAGR through 2034.

What is the United States Market Outlook?

The United States market is expected to rise at a 27.3% CAGR from 2024 to 2034.

What is the Projected Market Value by 2034?

The market is set to reach a valuation of around USD 52.2 billion by the end of 2034.

What Was the Historical CAGR for the Global Market?

The demand for ePrescribing increased at a 30.1% CAGR from 2019 to 2023.