The e-prescribing or electronic-prescribing market is likely to rise at a CAGR of about 26 percent through the forecast period. The assumed phase lasts till 2017 from 2012. The market was anticipated at around USD 170 million in 2011. It is predicted to attain about USD 794 million by 2017. Electronic prescribing is deemed as a significant facet of a bigger technological change in the medical industry.
E-prescribing is swiftly becoming a customary procedure in industrialized nations of the globe. A considerable increase in the implementation of e-prescribing has been witnessed in office-based prescribers and hospitals. This has been driving the demand for the e-prescribing market. The worldwide market is sliced on the basis of six categories.
These include components, kinds, delivery modes, usage modes, geographical regions and consumers. The components market consists of software, hardware and services. The kinds e-prescribing market includes integrated systems and stand-alone systems. The e-prescribing market, on account of delivery modes, is segmented into web-hosted, licensed and cloud hosted. The usage modes market consists of hand-held and PC-based.
The geographical regions market is inclusive of Europe, North America, rest of the world and Asia Pacific. The e-prescribing market, on account of consumer segments, is divided into office-based physicians and hospitals. Rising demand for e-prescribing in these segments also steers the e-prescribing market ahead. Electronic prescribing is the transmission of medicine-pertaining data through electronic means.
This data is transmitted between a distributor, prescriber and pharmacy benefit administrator. E-prescribing system permits a doctor and nurse to transmit a new medicine prescription via electronic means. This happens when an inaccuracy results in the course of pharmacy undertakings. The various applications of e-prescribing in safety checks, medical lists and patient history propel further demand for the e-prescribing market.
Moreover, enhanced medical facilities and decreased prescription mistakes also expand the e-prescribing market further.