ePrescribing Market Analysis

ePrescribing Market Analysis

The market based on product is segmented into solutions and services. The solution segment accounted for majority of market share of 61.2% in 2023.
 

• This substantial market share is due to increased penetration of different software that help in managing the workflow especially in hospital and pharmacy setting. Also, it assists in streamlining patients' treatment coordination by consolidating their complete drug history into a unified portal, which demands fewer resources compared to integrated systems.
   

The ePrescribing market based on delivery mode is classified into web/cloud-based and on-premises. The web/cloud-based segment dominated the market and is expected to reach USD 10.8 billion by 2032.
 

• The reduced cost in comparison to on-premises solutions is contributing to the segmental growth. Community hospitals, clinics, solo practitioners, and physician offices that cannot afford the expensive upfront expenditures of on-premises systems find a cloud platform to be a compelling alternative. Therefore, availability of cloud-based software from Athenahealth, Allscripts, and eClinicalWorks will foster the segmental growth.
   

Based on substances, the ePrescribing market is classified into controlled substances and non-controlled substances. The controlled substances dominated the market and is expected to exhibit 24.3% during the analysis period.
 

• The adoption of electronic prescribing of controlled substances (EPCS) is driven by several factors. Regulatory mandates from agencies such as the DEA in the U.S. require healthcare providers to use electronic prescribing systems for controlled substances. This mandate aims to enhance prescription security, reduce fraud, and improve accuracy. Also, EPCS offers improved security features such as encryption and identity verification, which help prevent prescription fraud and abuse.
   
• Moreover, the integration of EPCS with electronic health records (EHRs) facilitates seamless data exchange and communication between healthcare providers and pharmacies.
   

Based on usage, the ePrescribing market is classified into handheld and computer-based devices. The handheld segment accounted for USD 1.6 billion in 2023.
 

• The proliferation of smartphones and tablets has led to the development of mobile applications specifically designed for ePrescribing. These applications enable healthcare providers to access ePrescribing functionalities directly from their handheld devices, allowing for convenient and efficient prescribing workflows.
   
• Also, point-of-care prescribing via handheld devices supports patient-centered care and contributes to improved medication adherence and outcomes. Thus, aforementioned factors are anticipated to accelerate the segmental growth.
   

The ePrescribing market based on specialties is segmented into oncology, sports medicine, neurology, cardiology, and other specialties. The sports medicine segment accounted for market share of 30.4% in 2023.
 

• Sports medicine practitioners often require specific medication regimens tailored to the unique needs of athletes and sports-related injuries. Hence, the integration between ePrescribing systems and athlete health monitoring platforms is becoming more prevalent in sports medicine practice. By integrating data from wearable devices, fitness trackers, and athlete health monitoring systems, ePrescribing platforms can provide sports medicine practitioners with real-time insights into athletes' health status, performance metrics, and injury risk factors. Thus, usage of ePrescribing in sports sector will supplement the market growth.
   

Based on end-use, the ePrescribing market is classified into hospital, office-based physicians, pharmacy, and other end-users. The hospitals segment dominated the market and is expected to exhibit 24% CAGR between 2024 – 2032.
 

• Hospitals are the early adopters of digital solutions, including e-prescribing or electronic health record (EHR) solutions, due to their recognition of the potential benefits. Also, the hospitals typically manage large volumes of patient data and complex workflows, making digital solutions essential for streamlining processes and improving efficiency.
   
• E-prescribing systems allow healthcare providers to electronically send prescriptions directly to pharmacies, reducing the risk of errors associated with handwritten prescriptions and expediting medication orders. Therefore, widespread adoption of ePrescribing solution will enable to improve operational efficiency, enhance patient care, and meet regulatory requirements in an increasingly digital healthcare landscape, thereby boosting the segmental growth.
   

North America ePrescribing market accounted for USD 1.2 billion market revenue in 2023 and is anticipated to grow at CAGR of 23.8% between 2024 – 2032 period.
 

• The North America market is characterized by the presence of several key players offering comprehensive ePrescribing solutions tailored to the needs of healthcare providers and pharmacies. These solutions encompass features such as electronic medication reconciliation, formulary checking, drug interaction alerts, and electronic prior authorization capabilities.
   
• Therefore, technological advancements in healthcare IT infrastructure, including electronic health record (EHR) systems and interoperability standards, have facilitated the integration of e-prescribing functionalities into existing healthcare workflows, thereby propelling the regional market growth.