The United States e-Prescription Systems Market to Reach US$205 Million by2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive US and European report on e-Prescription Systems markets. The US market for e-Prescription Systems is forecast to reach $205 million, while the European market is forecast to reach $508 million by the year 2017. Major factors driving growth include increasing focus on improving patient safety, growing adoption of IT in healthcare services, and reduction of medical expenses. Additionally, the market is also supported by the growing familiarity of physicians with computers.

E-Prescription Systems: A US & European Market Report

Follow us on LinkedIn – E-prescription systems help physicians in increasing efficiency of their clinical workflow, and improving patient care management. The streamlined communication, resulting in the reduction in the exchange of clarification and refill calls between physicians and pharmacies, facilitates in achieving operational efficiency. Furthermore, the integration of e-prescription systems with patients’ electronic medical records, enable physicians in making more informed decisions in prescribing medications based on a patients’ drug-drug or drug-allergy interactions. Governments and federal agencies are beginning to realize the significance of e-prescribing to bring about substantial cost savings, and improve patient safety in terms of reducing unwarranted complications occurring due to illegible and erroneous prescriptions. Several initiatives taken up by the governments across the world for the successful implementation of e-prescription technology is expected to drive the growth of e-prescription systems in the next few years. One such attempt is the US implementation of American Recovery and Reinvestment Act (ARRA) in 2009, which received federal funding worth US$19 billion for the modernization of HIT infrastructure in the US. ARRA is expected to assist federal government in saving an estimated US$22 billion in medical and drug costs over the next decade. In addition, the adoption of e-prescribing under the ARRA is expected to increase to about 70 to 75% of the total prescribers over the next five to six years.

Considering the positive initiatives taken up by the industry, supported by encouraging government regulations, the e-prescription industry is poised to witness robust growth in future. E-prescription technology is expected to offer several benefits to physicians, pharmacies, patients, and healthcare plans through operational efficiencies and increased cost savings. In addition, the integration of electronic prescribing with electronic medical records that makes available a robust database of patient-specific details at the point of prescribing, would also spur the growth of e-prescription market. While benefits of e-prescription systems are evident, certain challenges still persist that needs to be addressed for the successful adoption of e-prescription technology. These issues are expected to have a profound effect on the market growth in future, and may switch from traditional paper-based system to e-prescribing systems. Elimination of these industry barriers would assure a broader usage of e-prescribing technology.

The United States and Europe constitute two major markets for electronic prescription systems globally. Of the two, Europe represents the largest market for e-prescription systems, as stated by the new market research report on E-Prescription Systems. The trends towards acceptance of e-prescription concepts in Europe have been encouraging. One of the major developments was EU’s introduction of an ‘e-Health Action Plan’, which made it mandatory for member countries to work towards developing and encouraging e-prescriptions. Many countries across the European markets have realized the significance of implementing e-prescription systems in terms of reducing labor costs, and avoiding adverse drug events. In order to fully reap the benefits of these systems, various countries are taking substantial initiatives of developing strategies for a comprehensive adoption of e-prescription systems. Segment-wise, integrated e-prescription systems represents the larger segment, compared to the stand-alone e-prescription systems. Integrated systems are also expected to witness faster growth compared to stand-alone systems. The increasing popularity of integrated systems can be attributed to its ability to be integrated with clinical information systems or hospital information systems, and providing complete data of patients, including medical history, allergies, healthcare plan schemes, and other vital data that would facilitate physicians in their decision making process. Integrated e-prescription systems are being increasingly adopted by both primary and secondary healthcare sectors. In terms of practice, Hospital practice accounts for a larger share, compared to the general practice. The use of e-prescription systems in general practice is however registering increasing growth compared to hospital practice.

Major players profiled in the report include Allscripts Healthcare Solutions Inc, Altos Solutions, ASP.MD Inc., athenahealth Inc., Axolotl Corp., Bizmatics Inc., Cerner Corp., iMedX, Newcrop LLC, Emdeon, NextGen Healthcare Information Systems Inc., athenahealth Inc., eClinicalWorks, Altos Solutions, ASP.MD Inc., Bizmatics Inc., digiChart Inc., e-MDs, eScribe EMR Solutions Inc., Henry Schein Medical Systems, Surescripts LLC, Med3000, Sigma Care, among several others.

The research report titled “E-Prescription Systems: A US & European Market Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the E-Prescription Systems markets, current market trends, key growth drivers, recent product launches, recent industry activity, and profiles of major/niche market participants. The report provides annual sales estimates and projections for E-Prescription Systems market for the years 2009 through 2017 for the following geographic markets - US and Europe. Key segments analyzed include Integrated e-Prescription Systems, and Stand-alone e-Prescription Systems. The report also analyzes the adoption of e-prescription systems by Hospital practice and General practice. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/e_Prescription_Systems_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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