Description
E-prescribing is a technology framework for electronic transmission of prescription from medical professionals to pharmacists. This is rapidly becoming standard practice in developed countries, developing countries are also gaining knowledge about the importance of this technology and has started or will be adopting this system in coming years.
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The Global E-Prescribing Market is estimated to be valued at USD 490 million in 2016 and is projected to reach USD 1,195 million by 2021, at a CAGR of 19.52 % during the forecast period from 2016 to 2021. Initiatives and incentive programs launched by government in order to improve quality healthcare, cut healthcare cost and reduce prescription errors is the key driver of this market. Additionally, improved infrastructure especially in developed countries, implementation of E-Health Record( EHR), expansion of Healthcare IT, favorable policy and guidelines for testing these products has helped in rapid growth of this technology.
The technology also has certain constraints to overcome, such as high cost of prescribing system, lack of technical expertise and sufficient knowledge base and physician reluctance in adopting new technology. Data Integrity and safety is also a key concern. Moreover, lack of infrastructure for better connectivity and lack of awareness about such technology in rural areas are also restraining this market. However, the technology has several opportunities as well. The introduction and implementation of Electronic Health Records( EHR), the rising investments in venture capital funds, and the implementation of trends in the Healthcare-IT field, growing economies and emphasis on healthcare sector in these countries holds immense potential for this market.
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The process of e-Prescribing has raised efficiency levels, both for prescribers and pharmacists. Problems due to error in prescription are getting reduced and should become nonexistent in coming years, however, new types of errors could emerge and continuous quality surveillance is thus mandatory. E- Prescribing vendor will have to add few features in system to make this more effective, such as they need to add features for monitoring medication adherence and persistency, for monitoring effectiveness and safety, for verifying patient pick-up and newer drugs must be added as early as possible in the system so that physician can prescribe best treatment available in the market anytime.
The global E-Prescribing market is segmented on the basis of System type( Integrated and Stand-alone system), Component( Software, Hardware, and Services), Delivery mode( On-premise Model and Cloudbased Model), End-User( Hospitals, clinics and Physicians), usage mode( hand held devices, computer based devices) and Geography( North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
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