e-Prescribing Market is set to witness an exponential growth rate of 22% to reach ~US$ 4 billion by 2026

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e-Prescribing Market is Expected to Gain
Popularity Across the Globe by 2026
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e-Prescribing is the prescriber's capability to
electronically deliver a precise, error-free, and
understandable prescription directly to a
pharmacy from the point of care. The
Global e-Prescribing Market is set to witness an
exponential growth rate of 22 to reach US 4
billion in the next 5 years. The advantages of
e-prescribing (such as enhanced patient safety,
reduced prescription and medication errors,
instant clinical alerts, prescription fulfilment
tracking, etc.), Covid-19, favourable regulatory
environment in select countries, accelerated use
of telemedicine, growing focus on reducing the
abuse of controlled substances, increasing
adoption of EHR solutions, government initiatives
and incentive programs are some of the main
factors propelling the Global e-Prescribing
Market. However, limited technology awareness
among end-users is likely to hamper the growth of
the market. Covid-19 Triggers Increase in
e-Prescribing Covid-19 harmfully impacted health
services internationally and health care
providers were forced to change their methods of
service delivery. In the wake of the Covid-19
pandemic, e-Prescribing emerged as a significant
tool in making a safe environment to avoid the
spread of Covid-19, minimizing in-person
consultations and paper prescription handling.
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• Favourable Regulatory Changes Across Countries
  Provides Impetus to the e-Prescribing Market
• The Covid-19 pandemic has made it necessary to
  alter the e-prescription legislation so that
  people may quickly and effectively access a
  variety of healthcare services.
• For instance,
• In order to curb the rise in drug-related deaths
  in the US, the federal government and several
  states including California, Indiana, Maryland,
  Michigan, Nebraska, New Hampshire, Utah, and
  Washington have mandated the e-prescribing of
  controlled medications in the US. The mandate
  requires clinical prescribers to write controlled
  medications electronically.
• The original deadline for states to comply with
  federal EPCS mandates was January 1st, 2021.
  However, due to complications of COVID-19, the
  Centers for Medicare and Medicaid Services (CMS)
  has extended the enforcement of EPCS-certified
  E-Prescribing software for Medicare Part D until
  January 1, 2023. CMS is still urging adoption so
  that practices can avoid penalties for
  non-compliance.
• Explore Premium Report on e-Prescribing Market
  _at_ https//meditechinsights.com/e-prescribing-marke
  t/

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• Benefits of e-Prescriptions Fuels the
  e-Prescribing Market Demand
• Growing usage of technology across every aspect
  of healthcare has enabled the demand for
  e-prescription globally.
• Some of the main advantages of e-prescribing that
  are driving its demand are
• Reduced Pharmacist Error As compared to
  hand-written prescriptions, e-prescriptions are
  explicit and clear in terms of prescribing
  treatment and dosage. This leads to reduced
  prescription and medication errors as it requires
  less interpretation from pharmacists
• Instant Clinical Notifications e-Prescribing
  systems provide notifications to prescribers
  about allergies, potential drug interactions,
  duplicate therapies, pregnancy and other issues
  that would be contraindicated for a patient when
  taking a particular medication
• Prescription Fulfillment Tracking e-prescription
  systems help doctors/clinicians track whether or
  not patients are adhering to prescribed
  medication/treatment
• Electronic Prescribing for Controlled Substances
  (EPCS) mandate in the United States allows
  clinical prescribers to write prescriptions
  electronically for controlled substances. More
  than half of the US falls under EPCS mandates. It
  is a vital tool to reduce unwarranted deaths
  caused due to drug overdose. Growing EPCS mandate
  in US states is likely to drive the e-prescribing
  market. - Senior Director, Leading Electronic
  Prescribing Service Provider, United States

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• Organic and Inorganic Growth Strategies Adopted
  by Players to Establish Their Foothold
• The e-Prescribing market is noticeable by the
  presence of both established and new players.
  Players operating in the market accept both
  organic and inorganic growth strategies such as
  new product launches, and acquisitions to gain
  market share.
• For instance,
• In March 2022, FDB (First Databank, Inc.), the
  leading provider of drug and medical device
  databases, launched FDB Vela, a new, cloud-native
  electronic prescribing (ePrescribing) network
  that enables the seamless flow of critical
  medication prescription information, benefits
  verification, and clinical decision support
  between prescribers, payers, pharmacies, and
  other constituents
• In May 2020, Therapy Brands, a leading software
  provider for the mental and behavioural health
  industry, acquired NewCrop, an integrated
  e-prescribing service provider. The acquisition
  of NewCrop gives Therapy Brands access to
  e-prescribe functionality, which is expected to
  become increasingly prevalent in the mental and
  behavioural health industry
• The e-Prescribing market is a booming market that
  is anticipated to gain further momentum in the
  coming years due to the benefits of
  e-prescribing, Covid-19 after-effects, favourable
  regulatory changes across countries, accelerated
  use of telemedicine, and growing focus on
  reducing the abuse of controlled substances.

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Competitive Landscape Analysis of e-Prescribing
Market The global e-Prescribing market is marked
by the presence of players such as Allscripts,
NextGen Healthcare, AdvancedMD, MDToolbox,
Practice Fusion, DrFirst, RXNT, Chetu, PrognoCIS,
NewCrop, among others. For More Detailed
Insights, Contact Us _at_ https//meditechinsights.co
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