Yahoo Finance Global E-Prescription Solutions Market Rise at 23.5% CAGR, Will Reach USD 4.38 Billion by 2026: Facts & Factors
[225+ Pages Research Report] According to the recent research report; the global E-Prescription Solutions Market in 2020 was approximately USD 1.23 Billion. The market is expected to surge at a CAGR of 23.5% and is anticipated to surpass USD 4.38 Billion by 2026. Top market players in the market are Cerner Corporation, Athenahealth, RelayHealth LLC, Henry Schein, and Healthfusion and others.
New York, NY, May 18, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “E-Prescription Solutions Market By Component (Solutions & Services), By Mode Of Delivery (On-Premises & Web/Cloud-based), By End-User (Hospitals, Pharmacies, & Home-based), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global E-Prescription Solutions Market was estimated at USD 1.23 Billion in 2020 and is expected to reach USD 4.38 Billion by 2026. The global E-Prescription Solutions Market is expected to grow at a compound annual growth rate (CAGR) of 23.5% from 2021 to 2026”.
E-Prescription Solutions Market: Key Market Insights Overview
A recent study found out that more than 70% of prescription errors in the medical sector are made by wrongful interpretation of handwritten prescriptions between the consumer and the pharmacy. In order to check such errors, several government bodies across the world are opting for EHR solutions that will make e-prescribing services less of a hassle. Furthermore, factors pertaining toward increased funding for e-prescribing solutions on a global scale, incentivized programs for adaption of EHR & e-prescribing, rise of medical errors and more will drive the growth of the market to a certain extent.
The improvement in the IT sector has given rise to many prominent services in the EHR services which leads to an ease of access for e-prescribing services on a larger scale. Furthermore, the rise of a global pandemic and the incredible aftermath will call for a universally accepted method of prescriptions which will save time and efforts for easy disposal of medicines and thereby, propel the footprint of the global E-prescribing solution market. However, the high additional costs associated with the technology and the lack of expertise in IT will hinder the growth of the market to a certain extent.
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Key Questions Answered in this Report
1) What was the pre and post-business impact of COVID-19 on the E-Prescription Solutions Market?
2) What is the market size, share of the E-Prescription Solutions Market?
3) Who are the top market players in E-Prescription Solutions Market?
4) What will be the future market of the E-Prescription Solutions Market?
Key Offerings:
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
Competitive Landscape – Top key vendors and other prominent vendors
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E-Prescription Solutions Market: Industry Major Market Players
Cerner Corporation
Athenahealth
RelayHealth LLC
Henry Schein
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Market Dynamics
The advent of EHR implementation across various medical institutes will help e-prescribing solutions ease the business. Corporations such as Cerner Corporation based in the U.S Corporation integrated their EHR platform with telehealth abilities which further helped their users access better patient care from home. Additionally, eClinicalWorks integrated their EHR systems with e-visits capabilities which let consumers hold virtual patient care. Such collaborative advancements have been ensuring the implementation of e-prescribing solutions and promoting EHR services in tandem.
The E-Prescribing Solution Market can be divided into services and solutions on the basis of components. The solution sub-segment can be further divided into integrated and standalone solutions and the service sub-segment can be divided among support and maintenance, network, implementation, and training services. The solution subcategory is expected to occupy a larger market share due to the functionality and usability in the untapped sector. The E-Prescribing Solution Market can be further broken down into on-premises solutions and web/cloud-based solutions on the basis of mode of delivery. The web/cloud-based segment accounts for the larger market share owing to the quick solutions and practicality. Larger organizations opt for on-premises solutions for similar groundwork.
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Global E-Prescribing Solutions Market: Segmentation
The global e-prescription solutions market is segregated based on components, mode of delivery, end-users, and region.
On the basis of components, the market can be divided into solutions and services. The solution sub-segment can be further divided into integrated and standalone solutions and the service sub-segment can be divided among support and maintenance, network, implementation, and training services. The solution segment holds the larger market share owing to a rise in undiscovered opportunities in the sector. However, the service sector will witness the highest growing CAGR during the forecast period. On the basis of mode of delivery, the market can be divided into on-premises solutions and web/cloud-based solutions. Web/Cloud-based solutions account for the major market share owing to low operating costs for a range of medical practicing institutions and hospitals, the ease of usability along rapid response systems. However, for larger healthcare organizations, on-premises solutions are preferred. On the basis of end-users, the market can be divided into hospitals, pharmacies & home-based solutions. Hospitals account for the largest market share owing to an increased implementation in the sector. However, an over-change from hand-written prescription to e-prescription will take longer than expected as the current systems do not support the requirement as needed by the current workflow.
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North America Is Expected To Witness The Highest Growing CAGR In The Region
North America is expected to occupy the highest market share in terms of revenue generation due to a potential rise in spending by local government and authoritative bodies coupled with flush monetary benefits. A recent trend indicated additional spending on implementing EHR systems across the region which will further make the usability of e-prescribing solutions an optimal task. Furthermore, national policies aimed at reducing prescription errors along with the outreach potential will drive the market footprint in the region.
Europe will witness the second-largest market growth due to the proactive approach taken by the EU.
Browse the full “E-Prescription Solutions Market By Component (Solutions & Services), By Mode Of Delivery (On-Premises & Web/Cloud-based), By End-User (Hospitals, Pharmacies, & Home-based), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/e-prescription-solutions-market
The global e-prescription solution market is segmented as follows:
Global E-Prescribing Solutions Market: By Component Segment Analysis
Solutions
Integrated Solutions
Standalone Solutions
Services
Support and Maintenance
Network
Implementation
Training
Global E-Prescribing Solutions Market: By Mode Of Delivery Segment Analysis
On-Premises Solutions
Web/Cloud-based Solutions
Global E-Prescribing Solutions Market: By End-User Segment Analysis
Hospitals
Pharmacies
Home-based
Frequently Asked Questions
What are the key factors driving Global E-Prescribing Solutions Market expansions?
The major factors driving the growth of the market in terms of revenue generation are an increased adaption of EHR solutions, rise in government spending for adaptability of the E-prescription market, stringent regulations regarding hand-written prescriptions, and the aftermath of the global pandemic among others.
What will be the value of the Global E-Prescribing Solutions Market during 2021- 2026?
According to Facts and Factors, global demand for the global E-prescription solution market is expected to generate revenue of around USD 4.38 Billion by end of 2026, growing at a CAGR of around 23.5% between 2021 and 2026.
Which region will make notable contributions to the Global E-Prescribing Solutions Market in terms of revenue?
Factors such as increased government pressure in implementing EHR solutions coupled with increased spending and monetary benefits will drive the market in the largest capacity in the region of North America.
KEY REPORT POINTERS & HIGHLIGHTS:
Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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