E-prescribing Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Global E-prescribing Market: Snapshot
The solutions in the global e-prescribing market offer an application to the medical practitioners that can allow them to send their patients prescriptions remotely via their computers to selected pharmacies. Products and solutions in the global e-prescribing market effectively transmit these prescriptions and provide receipt of accurate, unambiguous, and complete prescription orders. These solutions provided by the players and developers in the global e-prescribing market aid in optimum fulfillment and processing for the pharmacies. Solutions in the global e-prescribing market aid in eliminating several disruptions as well as delays in workflow as well as patient care.
The solutions in the global e-prescribing market are currently widely adopted and accepted by the professionals in health care industry. This trend can be attributed to benefits offered by these solutions in the global e-prescribing market, such as enhanced patient safety, reduced errors owing to misunderstandings in telecommunicated prescriptions, low risk of misplacing or losing the hand written prescriptions, and reducing the margin of error caused by hand written prescriptions. Adoption of the solutions in the global e-prescribing market can also aid in reducing negative drug events, eliminate medication errors, and help in reducing the health care costs.
The rising focus of healthcare professionals on providing patient-centric care is also motivating the sales within the global e-prescribing market. Usage of the solutions in the global e-prescribing market can reduce the time required by patients to fill out prescriptions and diminish the errors on the side of pharmacists. Furthermore, rising government support for uptake of the solutions in the global e-prescribing market in various developed as well as developing economies around the world is also boosting the demand in the global e-prescribing market. Moreover, increasing focus on reducing the fraud as well as abuse of controlled drugs is also benefitting the demand dynamics in the global e-prescribing market.
Global E-prescribing Market: Overview
The market is driven by the need for an error-free prescription process and constant government efforts towards quality and the affordable healthcare system. As per World Health Organization (WHO) member states report 2019, there is less than one doctor for per thousand populace. The uneven proportion of patient-specialist further increases the need for accurate E-prescribing arrangements. Medical prescriptions are the written directions by which doctors recommend and authorize the patients for obtaining and utilizing prescription medicines and treatments. Errors in prescription can creep in due to a variety of reasons, like the drug specialist's absence of knowledge and expertise, and miscommunication between nurses and specialists, among others.
Some of the most prominent competitors operating in the competitive landscape of global E-prescribing market include –
The E-prescribing Market is exceptionally competitive and comprises of a few noteworthy players. In terms of market share, very few of the real players currently dominate the market. With the rising patient awareness levels, minimization of prescription errors, the better nature of health care and cost reduction, the companies are attempting to innovate more items to continue the competition.
A report from General Medical Council (GMC), in the United Kingdom, proves that prescribing errors have been found to affect approximately 9–15% of medication orders for emergency clinic inpatients.
Likewise, different initiatives, for example, Health Information Technology for Economic and Clinical Health (HITECH) Act and National Council for Prescription Drugs Program are upholding the use of e-prescribing system. The Asian market is expected to witness a slight uptick due to improved penetration of the e-prescribing technology.
Global E-prescribing Market: Drivers and Restraints
The independent e-prescribing system is an independent single entity system used for e-prescribing medications to patients. This system keeps running on software that demonstrations a single mode, through which specialists or doctor prescribe medications to patients on an electronic stage. Independent e-prescribing applications are cheaper and easier to introduce than integrated systems. However, independent applications might not have the majority of the usefulness you will discover in an e-prescribing module that is linked to an EMR. Independent applications may require the double entry of any clinical information. This requires extra work and dangers of extra errors increases, in this manner hindering the entire process.
Utilizations of the independent systems are gradually being phased out from the healthcare IT sector as they are being replaced by integrated ones, which are more efficient and effective. Another real reason for this trend move from remain solitary to integrated systems is the appreciate prescription considering the recorded information of a patient. The independent system does not hold authentic information of the patient and hence, sometimes follow up prescription may not be appropriate.
Global E-prescribing Market: Geographical Analysis
Based on the region, the e-prescribing market is segmented in to five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is anticipated to dominate the e-prescribing market in coming years. United States holds the largest market share which is mostly due to the government initiatives and incentive projects to promote the E-prescribing system, and rising demand for E-prescribing system in the United States.
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