In a recent published report, Kenneth Research has updated the market report for E-Prescribing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for E-Prescribing Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global E-Prescribing Market is estimated to reach $2,418 Million by 2024; growing at a CAGR of 20.1% from 2016 to 2024. E-Prescribing is a technology where a physician or practitioners electronically generate and send prescribing to pharmacy. E-Prescribing is used instead of handwritten, calling, and faxed notes in prescribing. It is an automated clinical decision support system which aids in improving accuracy, rising quality, and increasing patient’s safety. E-Prescribing enhances efficiency, reduce cost in healthcare, and expand medication adherence. Reducing medical errors and cost are boosting the growth of the market.
The global e-prescribing market is driven by factors such as, healthcare providers collaborating with software companies, improving healthcare infrastructure of emerging economies, rising abuse of controlled substances, and need to reduce risks caused by medical errors. Additionally, necessity to maintain medical records and untapped markets would provide numerous opportunities in coming years. Though, factors such as lack of awareness and essential resources in rural and remote areas and high cost may hinder the adoption among end users.
The global e-prescribing market is segmented into product type, usage mode, component, delivery mode, end-user, and geography. Product type is categorized into integrated system, and stand-alone system and usage mode is bifurcated into hand-held devices, and PC-based. Component segment in sub-segmented into hardware, software, and services. Delivery mode is segmented into on-premise/licensed, web-based, and cloud-based. Furthermore, end user is categorized as hospital, and office-based physician.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers Germany, UK, France, Netherlands, and others. Asia-Pacific covers China, Japan, India, and others. RoW covers South America, Middle East, and Africa.
The major players in the market are eClinicalworks, Allscripts Healthcare Solution, Inc., Medical Information Technology, Inc., Cerner Corporation, RelayHealth, LLC, Henry Schein, Inc., HealthFusion, Inc., Practice Fusion, Inc., DrFirst Inc., and Aprima Medical Software, Inc., among others.
The key takeaways from the report
The report will provide a detailed analysis of Global E-Prescribing Market with respect to major segments such as product type, usage mode, component, delivery mode, and end user. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
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Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Global E-Prescribing Market from 2015 to 2024 has been included in the report. Profile of the key players in the Global E-Prescribing Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of the Global E-Prescribing Market
Product Type Segment
Integrated System
Stand-Alone System
Usage mode Segment
Hand-Held Devices
PC-Based
Component Segment
Hardware
Software
Services
Delivery Mode Segment
On-Premise/Licensed
Web-Based
Cloud-Based
End-User Segment
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Hospital
Office-Based Physician
Geography Segment
North America
U.S.
Mexico
Other
Europe
Germany
UK
France
Netherlands
Others
Asia-Pacific
China
Japan
India
Other
RoW
South America
Middle East
Africa
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