The surge in deaths by medical errors and increase in the abuse of controlled substances are driving the demand for the market.
Market Size – USD 930.6 Million in 2019, Market Growth – CAGR of 21.9%, Market Trends – Advancement in technology.
The global E-Prescribing market is forecast to reach USD 4.22 Billion by 2027, according to a new report by Reports and Data. E-Prescription is gaining traction with the growing adoption of the latest technology in the healthcare sector. It offers an extensive range of applications and provides a comprehensive form of medical data, ensures security checks, and complete privacy of the patient information.
Increasing support from the government is propelling the demand for the market product. The need to reduce medication errors is a major driving factor. However, e-prescribing systems are facing limitations due to the high initial cost and high risk associated with the security and privacy of patient’s data. Developing nations are expected to encounter roadblocks, which includes low availability of high-speed internet connection, and inadequate IT expertise. The fund needed to be allocated to this market is also quite low in emerging nations.
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Key participants include:
The growing investment in health startups has gained momentum, which has further augmented the demand for the market. The newcomers are coming up with new ways of making these apps more user friendly and are trying to tap into more opportunistic areas of growth. A total of USD 7.5 billion was invested into various start-ups, attempting to digitalize the healthcare system of the U.S. The number was still lower than that invested in 2018, USD 8.1 billion. The U.K.’s Babylon Health was the biggest recipient of investment in 2019, with over USD 500 Million of private investment received, and followed by Ginkgo Bioworks, a bioengineering firm that designs microbes, which received USD 300 million.
The COVID-19 impact: The COVID-19 virus pandemic has initiated a seismic wave of health anxiety and awareness, which is triggering a new category of virus-fighting tech. The lockdown to ensure social distancing has dented the market for the short term, but in the long run, the manufacturers are positive the demand for these products will surge, especially due to COVID-19. Moreover, investment in the healthcare sector will increase and result in adoption of latest technologies across the industry.
For the purpose of this report, Reports and Data have segmented the global E-Prescribing market on the basis of product, type, delivery mode, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
Delivery Mode Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Further key findings from the report suggest
Table Of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. E-Prescribing Market Segmentation & Impact Analysis
4.1. E-Prescribing Market Material Segmentation Analysis
4.2. Industrial Outlook
……
Chapter 11. Company Profiles
11.1. Cerner Corporation
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Athenahealth, Inc.
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. EPIC Systems Corporation
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. Allscripts Healthcare Solutions, Inc.
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. Quality Systems, Inc.
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
11.6. Relayhealth Corporation
11.6.1. Company Overview
11.6.2. Financial Performance
11.6.3. Technology Insights
11.6.4. Strategic Initiatives
11.7. Medical Information Technology, Inc.
11.7.1. Company Overview
11.7.2. Financial Performance
Continued….
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