E-Prescribing Market Size, Share, Growth, Trends, and Forecast 2030

E-Prescribing Industry Prospective:

The global e-prescribing market size was worth around USD 1380.50 million in 2022 and is predicted to grow to around USD 4580.60 million by 2030 with a compound annual growth rate (CAGR) of roughly 16.17% between 2023 and 2030.

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E-Prescribing Market: Overview

E-prescribing, also known as electronic prescription, is a result of increasing digitization in the global healthcare sector. It deals with electronic generation, transmission, and filling of medical prescriptions and acts as a substitute for traditional methods that fax documents or papers. Stakeholders involved in the market are pharmacists, physician assistants, physicians, or any other medical practitioner including nurses. These parties are expected to use digital technology for transmitting and recording details related to medicines that are prescribed to a patient. Some of the main advantages of e-prescriptions include higher accuracy, error-free communication, and legible or understandable prescriptions that are mainly sent from a healthcare provider to an assigned pharmacy. The main aim of using this modern technique is to reduce the several risks that are generally associated with older methods of medicine prescription. Analysis of emerging patterns suggests that e-prescribing has been at the forefront of higher advertisement of electronic medical records. The primary components of electronic prescription include the prescriber, the transaction hub, the pharmacy center equipped with the necessary software, and the pharmacy benefit manager (PBM).

Key Insights:

• As per the analysis shared by our research analyst, the global e-prescribing market is estimated to grow annually at a CAGR of around 16.17% over the forecast period (2023-2030)
• In terms of revenue, the global e-prescribing market size was valued at around USD 1380.50 million in 2022 and is projected to reach USD 4580.60 million, by 2030.
• The e-prescribing market is projected to grow at a significant rate due to the growing acceptance of electronic prescriptions worldwide
• Based on end-use segmentation, hospitals was predicted to show maximum market share in the year 2022
• Based on usage method segmentation, handheld devices was the leading segment in 2022
• On the basis of region, Europe was the leading revenue generator in 2022

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E-Prescribing Market: Growth Drivers

Growing acceptance of electronic prescriptions worldwide to drive market growth

The global e-prescription market is expected to grow owing to the increasing awareness and acceptance of this particular digital technology across the globe. Several countries have already mandated the replacement of paper-based prescriptions to electronic format owing to the several advantages associated with e-prescription that favor all parties involved in the transaction including patients, medical professionals, and medicine filling agencies. In 2011, Croatia became one of the first countries to mandate all stakeholders to switch to e-prescription. Since then, the format has become popular in several other European countries including the Netherlands, Finland, Italy, Poland, Belgium, Germany, and Sweden out of which the last two are the latest to be added to the list. These regions have created a supporting infrastructure that has allowed stakeholders to seamlessly transition to electronic prescription. These facilities include the promotion of secure means of transaction, a thriving electronic health record (EHR) system, and standardized rules for compliance thus avoiding any form of confusion among the consumers. In Italy, e-prescriptions can also be issued through video conferencing, and every health document is provided with a unique Electronic Prescription Number (EPN). If the prescription is lost or misplaced, EPN allows it to be traced back to the citizen it belongs to with the help of their health card. As of February 2019, around 85% of all prescribed pharmaceutical prescriptions were in digital format in Italy.

E-Prescribing Market: Restraints

High investment and hesitancy toward change may restrict the market growth

The global e-prescribing market growth trend relies heavily on the comfort that users exhibit in association with digital technology. This includes all parties involved such as doctors, patients, and pharmacies. However, one of the major causes of concern for the market players is the discomfort shown by stakeholders in accepting digital technology. All invested parties must be comfortable with the change for it to function efficiently. However, a large part of the general population may not be comfortable with using software and other programs for medicine prescription as they are used to traditional methods. Moreover, the cost of e-prescription technology may be high especially in countries currently struggling with economic volatility. In addition to this, the expense of training users or maintaining the software may be equally high leading to added barriers.

E-Prescribing Market: Opportunities

Increasing launch of new and user-friendly solutions to create higher growth opportunities

The global e-prescribing industry is expected to come across several growth opportunities led by the increasing launch of new and user-friendly solutions. These new platforms are meant to be more secure and seamless in terms of use. In November 2023, Wales witnessed the launch of its first electronic prescription service and as per projections, more than 40 million paper forms can be avoided using the new technology. On the other hand, in June 2023, DrFirst, a health technology leader, and BoomerangFX, an international firm operating in the cloud-based Software as a Service (SaaS) provider dealing in medical spa, cosmetic surgery, women’s health, and vision care segment, announced a breakthrough partnership. The move will help customers of DrFirst gain access to an integrated and unified medication management system that is expected to improve patient engagement and maximize clinical workflows. June 2023 registered a revolutionary change in Australia’s healthcare ecosystem with the launch of the country’s first standalone platform for electronic prescriptions launched by Telecare and known as RXPad. The new tool is built for clinicians by clinicians to improve patient experience.

Increasing misuse of traditional prescription methods to get hands-on certain drugs and medicines to generate higher demand

In recent times, the number of cases related to prescription fraud and misuse surged. This is the result of increased access to prescription blanks or pads and a growing demand for prescription medicine. Additionally, the demand for controlled substances has reached new heights with the rising number of consumers. As per official reports, in 2021, around 14 million people in the US reported to have misused some form of prescription psychotherapeutic drug in the past 1 year. Such statistical trends are observed globally leading to an urgent need for better control measures such as the use of e-prescription.

E-Prescribing Market: Challenges

Lack of infrastructure and security concerns to act as growth barriers

The global e-prescribing industry demand is projected to be impacted by the lack of supporting infrastructure to roll out e-prescriptions on a national scale. This includes access to digital technology, internet connectivity, and a secure medium for confidential transactions. The lack of effective security means can pose serious risks as online fraud has intensified in the last decade. Other challenges include loss of time and other resources due to system downtime and incorrect alerts that affect market growth.

E-Prescribing Market: Segmentation

The global e-prescribing market is segmented based on end-user, product, usage method, delivery mode, and region.

Based on end-user, the global market is divided into office-based physicians, hospitals, and pharmacies. In 2022, the highest growth was observed in the hospital segment since it dominated more than 35.1% of the total share. The leading reason for high growth is the growing number of hospital facilities across nations that are successfully running e-prescription models. Furthermore, these units have access to sufficient budget as well as the manpower to roll out digital solutions. The growing integration of advanced technology in healthcare is likely to impact segmental growth during the forecast period.

Based on product, the e-prescribing industry is divided into services and solutions.

Based on usage method, the global e-prescribing industry is divided into computer-based devices and handheld devices. In 2022, the highest revenue was generated in the handheld segment due to the ease of use and convenience. The technology is facilitated by devices such as smartphones, tablets, and other compact systems. The computer-based segment may grow at a CAGR of 26.1% during the projection period.

Based on delivery mode, the global market divisions are on-premise and cloud.

E-Prescribing Market: Report Scope

E-Prescribing Market: Regional Analysis

Europe is expected to deliver the best results during the projection period

The global e-prescribing market is projected to witness the highest growth in Europe led by the high adoption and prevalence rate of e-prescriptions across the region. Several European nations have already shown positive acceptance of the modern method of prescribing medicine wherein certain countries have completely replaced paper-based prescription of medicines. As per a report submitted by the National Health Service (NHS) UK, in 2021/2022, more than 996 million prescriptions which is almost close to 95% of all medicine prescriptions were made using electronic means. The statistics have grown over the years owing to the supporting environment created by the government. In April 2023, Titan PMR, England’s first software with complete authority given by the NHS to provide e-prescription services, announced that it will soon roll out its services in remote areas of the region which is expected to impact the lives of nearly 10 million people. North America is an important market for global revenue. In 2021, almost 94.5% of all prescriptions were facilitated using electronic media as the regional government strives to control prescription fraud.

E-Prescribing Market: Competitive Analysis

The global e-prescribing market is led by players like:

• Epic Systems Corporation
• Cerner Corporation
• Surescripts
• Athenahealth Inc.
• MDToolbox
• Allscripts Healthcare Solutions Inc.
• HealthFusion Inc
• NextGen Healthcare Inc.
• Change Healthcare
• Practice Fusion
• DrFirst Inc.
• Henry Schein Medical Systems
• Daw Systems Inc.
• Dosespot
• iSalus Healthcare
• AdvancedMD Inc.
• Greenway Health
• NewCrop LLC
• Aprima Medical Software
• PracticeSuite

The global e-prescribing market is segmented as follows:

By End-User

• Office-Based Physicians
• Hospitals
• Pharmacies

By Product

• Services
• Solutions

By Usage Method

• Computer-Based Devices
• Handheld Devices

By Delivery Mode

• On-Premise
• Cloud

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa