Various government initiatives and incentive programs, rising focus on the reduction of fraud & abuse of controlled substances, and increasing focus on reducing medical errors, and the need to curtail escalating healthcare costs are driving the growth of the E Prescribing Market. The increasing number of collaborations between software vendors and network providers and the vast untapped Asia-Pacific region are expected to provide significant growth opportunities for players in the market. The rising specialty prescribing, growing consolidation in the e-prescribing market, growing demand for cloud-based solution are the key trends in the market.
Restraints:
# High Cost of Deployment
# Reluctance to Adopt New Technology
# Security and Workflow Issues
Opportunities:
# Services Industry to Provide Opportunities for Revenue Generation
# APAC Markets to Register High Growth
Challenge:
# Lack of Technological Awareness Among End Users.
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In this report, the market is segmented based on product, delivery mode, end user, and region. This report also discusses the key market drivers, restraints, opportunities, and challenges for this market and its submarkets.
In 2015, the solutions segment accounted for the largest share in the market. The large share of the solutions segment can be attributed to the growing focus on minimizing the fraud & abuse of controlled substances and increasing adoption of e-prescribing, government initiatives, & incentive programs.
In 2015, the web & cloud-based segment accounted for the largest share of the market. The large share of web & cloud-based segment can be attributed to the factor that healthcare organizations are increasingly embracing cloud-based solutions to increase the accessibility to patient records from remote locations and thereby improve workflow efficiency. In addition, cloud-based solution can be sold on demand and fully managed by the provider; this differentiates it from traditional methods of delivery. Cloud-based services can help healthcare organizations share, integrate information from disparate locations or systems in real time, and generate a database registry. Moreover, it can free up IT staff to focus on more critical tasks, thereby increasing productivity and cost-efficiency of the organization.
In 2015, the hospitals segment accounted for the largest share of e-prescribing market. The large share of this segment can be attributed to the high adoption rate of the e-prescribing solutions by hospitals in the U.S. and Europe. In the U.S., the Patient Protection and Affordable Care Act has led to the restructuring of private insurance, Medicare, and Medicaid systems. The CMS incentive program reimburses physicians for using EHR (Electronic Health Records), which is encouraging the adoption of e-prescribing among physicians.
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The market is consolidated at the top. Small market players operating at regional and local levels are challenging the market shares of leading players. In order to maintain their market shares, leading players are continuously signing contracts of agreements, collaborations, and partnerships. Increasing competition in this market is expected to drive innovation, thereby helping the industry to overcome the existing challenge of lack of technology awareness among end users.
The major players in the market are Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Quality Systems, Inc. (U.S.), athenahealth, Inc. (U.S.), RelayHealth, LLC (U.S.), Henry Schein, Inc. (U.S.), GE Healthcare (U.S.), Computer Programs and Systems Inc. (U.S.), DrFirst, Inc. (U.S.), Surescripts-RxHub, LLC (U.S.), Medical Information Technology, Inc. (U.S.), Change Healthcare Holdings, Inc. (U.S.), eClinicalworks (U.S.), and Practice Fusion, Inc. (U.S.).
Target Audience:
# Providers of e-prescribing systems and solutions
# E-prescribing services providers
# Hospitals & clinics
# Pharmaceuticals
# E-prescribing vendors
# Healthcare insurance providers
# Market research and consulting firms
# Venture capitalists and investors
