E-prescribing Market by Product, End User and Delivery Mode - Global Industry Analysis and Forecast to 2025

Report Code : HC06119

With changing regulatory frameworks and patient demographics globally, the healthcare industry is constantly evolving in terms of organizational efficiency, quality of healthcare services and cost management. E-prescription is one such technological step which ensures error free prescription and aids in avoiding dispensing of wrong medications. E-prescribing refers to the electronic transfer of an error-free, accurate and understandable prescription from a prescriber directly to a pharmacy. On a basic level, e-prescription system acts as an electronic reference handbook. They can either be used as stand-alone prescription writers or can be integrated with an electronic health record (EHR) system.

E-prescribing has significantly reduced prescription and medication errors and has resulted in fewer call-backs to physicians from the pharmacists for clarification. Moreover, electronic transfer of prescriptions from prescribers to pharmacists has largely aided in streamlining the clinical workflow. E-prescribing can be integrated with EHR systems enabling physicians, the access to not only the prescription information but also to the patient’s medical information in terms of history, allergies, current medication use and all such critical parameters. By allowing physicians to access such vital information, medical errors can be significantly reduced leading to improved patient safety. According to an October 2016 survey by the U.S. food and drug administration (FDA), on an annual basis, medication errors injure nearly 1.3 million people in the U.S. Such medication mishaps can be significantly minimized by use of advanced e-prescribing systems.

Patient safety can be ensured through e-prescribing by improving prescription legibility and reducing the time required to prescribe and dispense medications to the patients leading to minimal medication errors and adverse drug effects (ADEs). Most of the e-prescription systems include medication decision support (MDS) which assists prescribers in avoiding prescription errors. Such programs check for drug-allergy, drug-drug interaction and drug disease interactions as well as dosing recommendations. E-prescribing largely improves the efficiency of prescription process. Though actual drafting of a new prescription in e-prescription system can take a few seconds longer than writing a prescription, the time is compensated by the time saved owing to the fact that less or no clarification is needed for an electronic prescription at the pharmacist’s end. 

Some of the key driving factors responsible for growth of the e-prescribing market are government initiatives to implement e-prescription systems in order to reduce medication errors and improve the quality of healthcare, high healthcare IT expenditure in developed countries and integration of e-prescription with EHR systems. However, factors such as high initial investment, concerns related to security of patient information and shortage of high speed broadband services in developing countries can hamper the growth of e-prescription market.

The major players operating in the e-prescribing market focus on innovation to develop technologically advanced e-prescribing solutions in order to stay ahead of their competitors in terms of market share. For instance, in February 2015, Imprivata, Inc., a healthcare IT security solutions provider, launched Confirm ID, software for electronically prescribing controlled substances. Some of the key players in e-prescribing market are, Epic Systems Corporation, Cerner Corporation, Quality Systems, Inc., DrFirst.com, Inc., Henry Schein, Inc., Surescripts, LLC and Practice Fusion, Inc.

E-prescribing Market Segmentation

By Product:

  • Solutions
  • Standalone Solutions
  • Integrated Solutions
  • Services
  • Support and Maintenance Services
  • Network Services
  • Implementation Services
  • Training and Education Services

By End User:

  • Hospitals
  • Pharmaceuticals
  • Office-based Physicians

By Deliver Mode:

  • On-premise
  • Web and Cloud-based

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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