Global e-Prescribing Market is set to witness a healthy growth rate of 22% to reach $4 billion by 2026

e-Prescribing is the prescriber's ability to electronically send an accurate, error-free, and understandable prescription directly to a pharmacy from the point of care.

Multiple benefits of e-prescribing (such as enhanced patient safety, reduced prescription and medication errors, instant clinical alerts, prescription fulfillment tracking, etc.), Covid-19, favorable regulatory environment in select countries, accelerated use of telemedicine, growing focus on reducing the abuse of controlled substances, increasing adoption of EHR solutions, government initiatives and incentive programs are some of the key factors driving the Global e-Prescribing Market.

Covid-19 Triggers the Growth of e-Prescribing Market

Covid-19 pandemic has adversely impacted health services internationally and several health providers were compelled to change their methods of service delivery. In the wake of the Covid-19 pandemic, e-Prescribing emerged as an important tool in creating a safe environment to avoid the spread of Covid-19, minimizing in-person consultations and paper prescription handling.

Benefits of e-Prescription fuels it’s Market Demand

Increasing usage of technology across every aspect of healthcare has enabled the demand for e-prescription globally.

Some of the key benefits of e-prescribing that are driving its demand are:

  • Reduced Pharmacist Error: As compared to hand-written prescriptions, e-prescriptions are explicit and clear in terms of prescribing treatment and dosage. This leads to reduced prescription and medication errors as it requires less interpretation from pharmacists.
  • Instant Clinical Notifications: e-Prescribing systems provide notifications to prescribers about allergies, potential drug interactions, duplicate therapies, pregnancy and other issues that would be contraindicated for a patient when taking a particular medication.
  • Prescription Fulfillment Tracking: e-prescription systems help doctors/clinicians track whether or not patients are adhering to prescribed medication/treatment.

Growth Strategies Adopted by Market Players to Establish Their Foothold

The global e-Prescribing market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner market share.  For instance,

  • In March 2022, FDB (First Databank, Inc.), the leading provider of drug and medical device databases, launched FDB Vela, a new, cloud-native electronic prescribing (ePrescribing) network that enables the seamless flow of critical medication prescription information, benefits verification, and clinical decision support between prescribers, payers, pharmacies, and other constituents.
  • In May 2020, Therapy Brands, a leading software provider for the mental and behavioral health industry, acquired NewCrop, an integrated e-prescribing service provider. The acquisition of NewCrop gives Therapy Brands access to e-prescribe functionality, which is expected to become increasingly prevalent in the mental and behavioral health industry.

The global e-Prescribing market is an emerging market and is expected to gain further momentum in the coming years due to the benefits of e-prescribing, Covid-19 after-effects, favorable regulatory changes across countries, accelerated use of telemedicine, and growing focus on reducing the abuse of controlled substances.

Competitive Landscape Analysis: Global e-Prescribing Market

The global e-Prescribing market is marked by the presence of leading market players such as Allscripts, NextGen Healthcare, AdvancedMD, MDToolbox, Practice Fusion, DrFirst, RXNT, Chetu, PrognoCIS, NewCrop, among others.

Explore Detailed Research Insights on Global e-Prescribing Market @ https://meditechinsights.com/e-prescribing-market/

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