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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