E-prescribing Market to Soar in the Near Future Owing to Growing Consumer Adoption

The primary goal of e-prescribing models in EHR or HIT systems is the efficient transmission and receipt of complete, accurate, and unambiguous prescription orders that aid in the optimization of pharmacy processing and fulfilment, thereby eliminating disruptions in workflow and delays in patient care.

Electronic Prescribing (E-prescribing) solutions are widely used in the healthcare industry because of the benefits they provide, such as improved patient safety, fewer medication errors due to handwritten prescriptions, fewer medication errors due to misunderstood phoned-in prescriptions, and a lower risk of lost or misplaced written prescriptions. This, in turn, is likely to enhance the global e-prescribing market's growth throughout the forecast period.

The global e-Prescribing market size was valued at US$ 779.9 million in 2017 and is expected to witness a CAGR of 18.5% over the forecast period (2018 – 2026).

North America has a large revenue share due to the widespread use of e-prescription integrated systems and the increased acceptance of innovative healthcare technology goods. This is a primary reason driving the e-prescribing market forecast's rise. Furthermore, as people in the region gravitate toward patient-centric solutions, the use of e-prescribing is enabling physicians in the region to give exceptional care without the need to invest time in visiting the hospital in non-emergency scenarios. In contrast, due to a favourable government initiative toward public safety, ambulatory care institutes in the region have embraced e-prescribing systems at a large rate. The aforementioned variables contribute to the expansion of the North American e-prescribing market.

The global electronic prescription market is driven by a greater focus on reducing fraud and drug abuse, government initiatives to digitize health systems and a greater focus on reducing medication errors. However, the high costs of implementation and the reluctance of people and health care providers to adopt new technologies restrict market growth. Conversely, it is expected that the increase in health spending and the improvement of health infrastructure in developing economies provide numerous opportunities for market growth during the forecast period.