E-Prescribing Market (Electronic Prescription/Erx) Worth $794 Million - 2017 - Report by MarketsandMarkets
(PRWEB) April 10, 2014 -- The “E-Prescribing Market (Electronic Prescription/eRX) by Hardware, Software, Services, End-users (Medical Group Practice & Hospitals), Products (Integrated & Standalone Systems) & Deployment (Licensed, Web-hosted & Cloud) – Global forecasts to 2017”, which analyzed and studied the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and Rest of the World.
Browse 94 tables and 11 figures spread through 219 pages combined with an in-depth TOC on "E-Prescribing Market"
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The electronic prescribing systems market is estimated to grow at a CAGR of 26% from 2012 to 2017. The eRx market is expected to grow from $250 million in 2012 to $794 million by 2017 at a CAGR of 26% from 2012 to 2017.
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The expenditure on e-health is slated to increase as a percentage of national health budgets in this decade. As the Governments look to encourage physicians and pharmacies to adopt the technology, e-prescription is likely grow to $794 million by 2017 globally. Spread of awareness and realization of the growing need to switch to e-health will boost this technology. Regional interconnectivity to ensure prompt transfer of patient information even as the patient travels to another country has become the need of the hour. Hence, besides the obvious advantages of reducing medication errors and saving upon time and money, e-prescription is building path for a global healthcare structure.
The market is driven by a few established companies and many small companies operating in this industry which are striving to gain maximum market share. The predominant strategy followed by all players of this market is launching of new products by means of modifying the product as per changes in technology and need of the end users which results in development of either new innovative product or modification of the existing product. Since the healthcare industry has long been apprehensive towards adopting IT and technology, vendors aim to increase awareness and offer easy-to-use solutions to the healthcare providers.
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The eRx market can be segmented by type, component, delivery mode, usage mode, end-user, and geography. Products are of two main types; stand-alone and integrated systems. Cerner Corporation (U.S.) and eClinicalWorks (U.S.) are the leading players in the stand-alone eRx systems market and key players in the integrated eRx systems market include Practice Fusion (U.S.) and Athena Health (U.S.)
Software, hardware, and services are the three components of the eRx systems. The services industry is the fastest growing since training, implementation and consultation of IT services is of prime concern to the healthcare industry. This is primarily because healthcare providers are not well acquainted with technology and its use and need assistance of trained personnel and IT professionals to set up systems and operate them. The e-Prescribing systems market by delivery mode is further classified into on-premise or licensed, web-hosted, and cloud hosted. The market is dominated by web-hosted IT vendors such as Cerner Corporation, Practice Fusion, and Emdeon (U.S.).
The e-Prescribing market can be categorized by two types of usage modes offered by the service vendors, PC-based and handheld devices. The fifth segmentation of the market is by its end-user, i.e. hospitals and office-based physicians. The market is also studied by geography to understand the penetration of e-Prescription in the regions of North America, Europe, Asia-Pacific, and RoW.
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