Global Electronic Prescription (e-Prescription) Software Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Adopt digital solutions to enhance medication management and reduce prescription errors

• Electronic prescribing or e-prescribing is a technology system that allows pharmacists and other physicians to electronically generate and deliver prescriptions to hospitals or independent pharmacies and medical professionals through e-prescribing at pharmacies. Software programs that can secure drug delivery prescription drugs. This solution has many associated benefits, such as improved patient safety and healthcare by monitoring drug interactions and reducing medication errors. Traditional prescription filling procedures are time-consuming. Increasing adoption of this system in the market during the forecast period Pharmacies will increase their demand during the forecast period.
• Electronic prescription (E-prescription Market) is a software that sends a patient's or end-users’ prescription electronically from their pc to a selected pharmacy. The primary goal of electronic prescribing software in an EHR or HIT gadget is to effectively transmit and receive entire, correct, and unambiguous prescription orders, which facilitates optimized pharmacy processing and contentment, thereby removing workflow interruptions and delays in affected person care.
• The integration of e-prescribing software with EHR solutions will further drive market growth. An integrated EHR has many advantages such as lab results and orders, clinical notes, and a wide range of clinical decision support that standalone systems do not provide. The immediate availability of data from EHR systems has significantly reduced prescribing errors in community-based medical practices, increasing product acceptance and market growth over the forecast period. Also, the government is promoting using integrated EHRs in many hospitals to increase productivity.
• E-prescription solutions are extensively adopted inside the healthcare industry as their advantages consist of stepped forward affected person safety, reduced medication errors because of handwritten prescriptions, fewer medication errors due to misinterpreted Cell phone prescriptions, and fewer lost prescriptions of risk of misplacement in written prescriptions. This in turn, is anticipated to enhance the growth of the Global E prescription Market over the forecast length; growing authorities for adopting EHR solutions and the need to reduce rising healthcare prices are the main factors driving the demand for such answers. Additionally, the global COVID-19 outbreak has increased the number of hospital patients, requiring higher control of patient facts. This is anticipated to similarly augment the call for these solutions in the approaching years.

Market Segmentations

• The Global Electronic Prescription (e-Prescription) Software Market is segmented based on Modality, Delivery Mode, End-User, and Geography.
• By Modality, the market is classified into Integrated and Standalone
• The integrated e-prescribing segment holds the largest share in the market. Integrated e-prescribing software typically offers more comprehensive functionality and features compared to standalone systems. In addition, Standalone e-prescribing software may be less expensive than integrated solutions.
• By Delivery Mode, the market is classified into Web & Cloud-based and On-premise & Desktop.
• The web-based e-prescribing system is expected to dominate the market, and the development of indication-based prescribing systems, outsourcing of e-prescribing software, and the development of e-prescribing applications drive the market growth.
• By End-User, the market is classified into Hospitals, Office-Based Physicians, and Pharmacies.
• The hospital segment is expected to hold the largest market share and continue this trend in the coming years. Hospitals have large patient pools and need to utilize e-prescribing software to streamline the prescription process, improve patient safety, and reduce medication errors.
• By Geography, the market is classified into the Americas, Europe, Asia Pacific, Middle-East, and, Africa.
• The Americas region can be attributed to government initiatives and incentives, high adoption of e-prescription integrated systems, and leveraging of health IT and EHRs to provide optimal patient care.

Recent Development

• First Databank, Inc., launched FDB Vela, a new, cloud-native e-prescribing network that enables the seamless flow of critical medication prescription information, benefits verification, and clinical decision support between prescribers, payers, pharmacies, and other constituents - March 2022
• Meddo, acquired Doxper. The acquisition is expected to bring around 300,000 to 400,000 more monthly patients to Meddo's customer base. The acquisition also aims to transform 1,000 more clinics within the next 12 to15 months across top-tier markets in India - August 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of the Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emiratand es, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electronic Prescription (e-Prescription) Software Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• Influence Global Research analyses the Global Electronic Prescription (e-Prescription) Software Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buys this report?

• The report comprehensively evaluates the Global Electronic Prescription (e-Prescription) Software Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and volume and value terms projections. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market