U.S. E-Prescribing Market Size to Reach Revenues of USD 1,234.27 Million by 2027 - Arizton
- E-prescribing allows real-time, secure, and bi-directional electronic connectivity between prescribers and pharmacies
- The adoption of CDS systems as a knowledge management strategy helps in the decision-making process within health care settings.
CHICAGO, Dec. 22, 2021 /PRNewswire/ -- The U.S. e-prescribing market is expected to grow at a CAGR of over 20.68% during the period 2021−2027.
Key Highlights Offered in the Report:
- COVID-19 impacted positively to adapt e-prescribing service. Additionally, CDC mandates and recommends as safety concern to limit patient contact during pandemic. This leads to establishing a strong connection between electronic health solutions such as e-prescribing. Reduction in hospital readmissions, safety of healthcare workers, and reduced pharmacy time are the benefits of e-prescribing.
- Investment in digital health services is a major driving factor of the e-prescribing market in the US. In comparison with earlier years, 2021 has seen huge investment by the US companies to adapt digital health solutions. The federal government has played an instrumental role in stimulating the adoption of e-prescribing solutions and encouraging associated research by providing incentives for e-prescribing programs.
- The market has limited number of vendors and there is great competition in the existing players. With technological advancement in healthcare solutions, players offering the e-prescribing solutions across the US will increase, along with attractiveness of this industry and the profit potential of the vendors offerings.
- Standard e-prescribing dominated prescribing type segment in the market. E-prescribing software increases the effectiveness and efficiency of patient care through automated clinical decision support and tracking complete medication profiles. Vendors are mainly focusing on the customized software development to enhance the adoption of e-prescribing.
- Web and cloud-based dominated the delivery mode segment in the market. With the help of e-prescribing solutions pharmacy industry significantly improved effectiveness, efficiency, and quality of health services.
- EHR, telehealth, and pharmacy software vendors accounted for the major share in the end user segment of the e-prescribing market. Electronic health records (EHR) plays an integral role in the adoption e-prescribing in the healthcare facilities. It offers benefits such as patient safety, communication with providers and physician workflow management etc.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by type, delivery mode, modality, medication type, and end-user
- Competitive Landscape – 7 key vendors and 23 other vendors
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U.S. E-Prescribing Market – Segmentation
- Prescription errors have emerged as a prevalent medical issue across the world. Such medication errors may worsen a patient's condition and cause mortality in the worst cases. Misreading manual prescriptions is a major factor that leads to inappropriate medication by health practitioners.
- As the number of prescriptions continues to rise each year, e-prescribing has been described as the best solution for improved patient safety and low medication costs. The pharmacy industry has embraced web-based e-prescribing solutions as they have significantly improved the effectiveness, efficiency, and quality of health services.
- The practice of e-prescribing is changing the way many doctors and patients prescribe medications. For many doctors, nurses, technicians, and administrators, the benefits of combined e-prescribing and EHR software programs are already apparent.
U.S. E-Prescribing Market by Type
- Standard E-prescribing
- EPCS (Electronic prescribing of controlled substances)
U.S. E-Prescribing Market by Delivery Mode
- Web and Cloud-Based
- On-Premises and Desktop
U.S. E-Prescribing Market by Modality
- Integrated
- Standalone
U.S. E-Prescribing Market by Medication Type
- Cardiovascular
- Oncology
- Anti-Infectives
- Behavioral and Mental Health
- Pain Medication
- Others
U.S. E-Prescribing Market by End-User
- Healthcare facilities
- EHR, Telehealth & pharmacy software vendors
- Independent and Speciality Pharmacies
- Pharmacy benefit managers (PBM) and Payors
U.S. E-Prescribing Market – Dynamics
With the development of new artificial intelligence (AI) methods in machine learning, medical practice is changing. Coupled with the rapid improvement in computer processing, these AI-based systems have already improved the accuracy and efficiency of diagnosis and treatment in various areas. AI plays a role in patient safety, including preventing drug overdose. AI uses drug history to predict the likelihood of opioid overdose before it occurs and helps clinicians identify this life-threatening risk. Using the patient's medical history and prescription history from EHR or previous claims, the algorithm calculates an overdose risk score and predicts the risk of a patient who accidentally overdoses a prescribed opioid. Machine learning CDS (Clinical Decision Support) tools are a viable approach to improving the detection of medication errors and preventing patient harm. The correct implementation of AI-enabled decision support systems improves error detection, patient stratification, drug management, and patient safety.
Key Drivers and Trends fueling Market Growth:
- Fueling EHR Innovation by Outsourcing E-prescribing
- Advancements in E-prescribing Solutions
- Monitoring Use of Controlled Substances
- Government Initiatives & Incentive Programs for Adopting E-prescribing
Major Vendors
- Athenahealth
- Cerner Corporation
- DrFirst
- Henry Schein Inc.
- InSync Healthcare Solutions
- Practice Fusion Inc.
- Surescripts
Other Prominent Vendors
- AdvancedMD
- Aegis Healthcare
- Allscripts Healthcare
- Bizmatics
- Bravado Health
- CareCloud
- Change Healthcare
- Chetu
- Credible
- Daw Systems
- DoseSpot
- Dr. Chrono
- eClinicalWork
- eMDs
- Kareo
- MD Toolbox
- Medical Information Technology Inc
- NextGen Healthcare
- RXNT
- SISGAIN
- Streamline Healthcare Solutions
- TenEleven
Explore our healthcare & lifesciences profile to know more about the industry.
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