The global e-prescribing market was valued at USD 250.2 million in 2013 and is expected to grow at a CAGR of 23.5% from 2013 to 2019, to reach an estimated value of USD 887.8 million in 2019, according to a new market report published by Persistence Market Research. The report, “Global Market Study on E-Prescribing: North America to Witness Highest Growth by 2019,” finds the e-prescribing market share is experiencing an explosion fueled by government regulations implement e-prescribing systems to help improve quality of care, as well as reduce medication errors.
However, the high cost of an e-prescribing system and lack of patient privacy and security are key challenges to the growth of e-prescribing market. Additionally, lack of high-speed broadband facilities and IT professionals in rural areas are also some of the key roadblocks for the e-prescribing market.
Electronic prescribing known as e-prescribing (e-Rx) is defined as an electronic transmission of prescriptions from physician to pharmacists using computer and other mobile devices, such as cell phone and tablets. E-prescribing systems are 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 also supporting in growth of e-prescribing 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 e-prescribing market.
Market Share Findings
North America is the fastest growing region in the e-prescribing market while Europe holds the largest market share in the e-prescribing market. Several government initiatives are driving the adoption of e-prescribing system such as the Health Information Technology for Economic and Clinical Health (HITECH) Act and National Council for Prescription Drugs Program. Many eHealth projects in Europe are playing a vital role in the adoption of the e-prescribing system such as European Patient Smart Open Services (epSOS) and Schleswig-Holstein Health Initiative.
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