The global e-prescribing market is expected to grow with the CAGR of approximately 21.2% during the forecast period. The market has been driven due to large number of factors such as implementation of EHR with E-Prescribing system, favorable government support to develop healthcare infrastructure, growing focus on patient convenience and decreasing medication errors and high focus on declining healthcare cost. Approximately, half of all healthcare costs come from hospital expenditure: around 30% from hospital inpatient and around 19% from hospital outpatient. Physicians hold for approx. 30% and prescription drugs approx. 17%. Thus, to reduce such cost e-prescribing is a better tool as it declines manual work and connects medical professionals with each other. Although, there are some hurdles in the market such as patient privacy & security issues and lack of high speed broadband services. Growing demand in emerging countries and increasing demand among physicians are offering better opportunity for the market growth in near future. However, lack of skilled professionals and high cost of the system are some major challenges in the market. Geographically, Europe occupies major share in e-prescribing market. The reason for its dominance is growing burden to reduce healthcare cost coupled with the growing chronic disease and aging population in the region. North America and Asia Pacific is also expected to grow high in near future with the growing government support to create better healthcare infrastructure. Moreover, the presence of major players such as IBM, GE Healthcare, Cerner Corporation, Athena Health Inc., QuadraMed etc. are offering high scope for more innovations in the market.
The global E-Prescribing market has been segmented on the basis of delivery model, end user and product. According to Product, the market is further categorized into solutions and services. Among Product segment, the solutions held major share in 2015. The increasing adoption of e-prescribing solutions coupled with government support by incentive programs. According to end user, the market is further categorized into hospitals, physicians and clinics. Among end user segment, hospitals held major share with the extensive demand for e-prescribing solutions in the hospitals of Europe and U.S. In addition, the Patient Protection and Affordable Care Act in the United States have attributed to the reorganization of Medicare, private insurance and Medicaid systems. For physicians, the CMS incentive program compensates physicians for utilizing EHR (Electronic Health Records), which is helpful to increase the use of such solutions among physicians. According to delivery model, the market is further categorized into Cloud based, On-premise and Web-based models. Among delivery model, web based and cloud based segment together held major share. It has been led due to growing demand for cloud-based solutions in order to increase the convenience to send patient records from distant locations and which ultimately develop workflow efficiency. In addition, it is also helpful to connect with IT staff in order to focus on highly critical tasks which increasing cost-efficiency and productivity of the organization.