New York City, New York, Oct 28, 2015: According to a market study, published by Persistence Market Research (PMR) and titled “Global Market Study on E-Prescribing: North America to Witness Highest Growth by 2019”, the global e-prescribing market is estimated to develop at a healthy CAGR of 23.5% between 2013 and 2019 and reach US$887.8 million by the end of the forecast period. Analysts at PMR denote that the market had reached a value of US$250.2 million in 2013.
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The demand for e-prescribing systems is witnessing an extensive rise on account of the support these systems are getting from various governments across the globe. The continual development and regular innovation in e-prescribing systems, coupled with improving medical and healthcare infrastructure and facilities, is the key driver of the global e-prescribing market.
Additionally, the rapid uptake of e-prescribing systems to decrease prescription errors in eHealth records is presenting immense potential for the market’s growth during the forecast period. The participants of the global e-prescribing industry can also utilize the rising trend of smartphone usage to their benefit. However, the rising cost of setting up e-prescribing systems, dearth of high-speed internet and skilled IT professionals in emerging economies, inappropriate measures to ensure security and privacy of patients, and the risk of selecting improper software and hardware platforms are some factors that can be seen as challenges for the worldwide e-prescribing market.
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The research report presents a comparative analysis of the global e-prescribing market based on the qualitative as well as quantitative assessment of each segment, while highlighting the dynamics of the regional e-prescribing markets.
According to this report, the e-prescribing market in Europe accounts for the biggest share of the overall industry, establishing it as the market leader. The rapid development of the eHealth industry over the past few years is the key reason behind the remarkable emergence of this regional market in the global arena. The huge number of pipeline eHealth projects are likely to stimulate this market over the forecast period. The development of European eHealth infrastructure is also projected to fuel this regional e-prescribing market in the coming years.
The best example of the utility of e-prescribing systems is its implementation in the European Patient Smart Open Services (epSOS) eHealth project. The project implemented e-prescribing systems to improve the treatment quality and enhance the patients’ experience. Healthcare professionals across Europe have started using electronic prescriptions and the uptake of this system is on a continuous rise. The e-prescribing market in Europe is expected to derive much of its growth from this factor during the forecast period.
The e-prescribing market in North America is reporting the fastest growth among all the regional markets. The rising uptake of e-prescribing systems and the improvement in the healthcare infrastructure in this region are the key factors propelling the growth of this regional market.
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The usage of e-prescribing systems is registering slow but steady growth in the Asian region. The development of healthcare infrastructure, together with government support encouraging the adoption of e-prescribing systems, is the main driver of the e-prescribing market in Asia, notes the study.
Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.
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