Global E-Prescribing Market to grow at a CAGR of 23.50% By 2019

Transparency Market Research Report Added “E-Prescribing Market” to its database.

Global E-Prescribing Market: Description

Electronic prescribing or E-Prescribing system (eRx) is the electronic transmission of prescription related information between prescriber, dispenser and pharmacy benefit manager. E-Prescribing system allows a physician and nurse practitioner to transmit a new prescription electronically when a medication error occurs during pharmacy operations. E-Prescribing system has a wide range of applications. It provides complete medical lists, conducts all security checks and offers complete patient historical data. E-Prescribing market is growing due to various government initiatives have promoted the usage of E-Prescribing system. Furthermore, improved quality of healthcare and reduced prescription errors are supporting the growth of E-Prescribing market. Additionally, advanced features of E-Prescribing system and improved healthcare infrastructure are the key driving factors for the growth of E-Prescribing market.

On the other hand, high cost of E-Prescribing system and lack of patient privacy and security impede the growth of E-Prescribing market. Lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key restraints for the E-Prescribing market.

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Global E-Prescribing Market: Overview

Globally, the E-Prescribing market is witnessing significant growth led by various government programs to implement E-Prescribing systems in order to improve quality of healthcare and reduce medication errors. The E-Prescribing system is used in various applications including preparation of complete medication list, data security checks, complete information of formulary and patient historical data. These advanced features of E-Prescribing are some of the key driving factors for the market. Additionally, improved healthcare infrastructure has increased the demand for E-Prescribing system. Moreover, implementation of electronic healthcare records with E-Prescribing system holds immense potential for the growth of the market. The global E-Prescribing market was valued at USD 250.2 million in 2013 and is likely to grow at a CAGR of 23.5% from 2013 to 2019 to reach USD 887.8 million by 2019.

Europe has the largest market share in the global E-Prescribing market. Integrated system is the largest E-Prescribing system and web-based E-Prescribing system is the largest delivery mode. Software is the largest component of the E-Prescribing system. Moreover, hand-held device usage mode has the largest market share and hospital is the largest end user of E-Prescribing system.

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