The global e-prescribing market size was US$ 1.45 billion in 2021. The global e-prescribing market is forecast to grow to US$ 7.64 billion by 2030 by registering a compound annual growth rate (CAGR) of 19.4% during the forecast period from 2022 to 2030.
Factors Influencing the Market
E-prescribing is an efficient method of keeping patient medical reports safe. In addition, it eliminates the risk associated with misplaced written prescriptions. As a result of such benefits, the global e-prescribing market will grow at an unexpected growth rate.
E-prescribing methods allow healthcare professionals and patients to efficiently share the data, including receipts, prescription orders, etc. Thus, it will fuel the growth of the global e-prescribing market.
The rising penetration of web & cloud-based segments across the healthcare sector is forecast to propel the e-prescribing market forward. In addition, the growing deployment of electronic healthcare record (EHR) solutions will accelerate the growth of the e-prescribing market during the study period.
The high cost associated with e-prescribing applications and software may limit the growth of the market. On the contrary, growing technological advancements, acquisitions, and partnerships will benefit the e-prescribing market throughout the forecast period. For instance, DrFirst (US) inked a partnership with ID.me (US) in April 2020. This partnership intends to help users perform their identity verification within seconds via the company’s e-prescribe app.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a substantial positive impact on the global e-prescribing market. Due to the pandemic, the demand for no-contact methods increased at a rapid pace. Healthcare professionals began adopting EHR and other electronic solutions in order to cater to the public demands. In addition, the shortage of workforce and high risk of virus transmission through traditional methods surged the demand for e-prescribing solutions. All of these factors are significantly contributing to the growth of the e-prescribing market.
Regional Analysis
North America is forecast to hold the highest market share in the global e-prescribing market. The growth of the market is attributed to the growing number of initiatives from government bodies to help the population with their medical needs.
Europe is forecast to emerge as the second-largest e-prescribing market, majorly due to the strict regulatory policies intending to eliminate medical errors.
Competitors in the Market
Market Segmentation
The global e-prescribing market segmentation focuses on Delivery, Product & Services, End-User, and Region.
Based on the delivery mode, the e-prescribing market has been segmented into -
Based on the product & services, the e-prescribing market has been segmented into –
Based on end-user, the e-prescribing market has been segmented into -
Based on region, the e-prescribing market has been segmented into –
