ePrescribing Market Size, Share, and Trends 2024 to 2034

ePrescribing Market Size to Reach USD 50.71 Billion by 2034

The global ePrescribing market size was USD 3.72 billion in 2023, calculated at USD 4.71billion in 2024 and is expected to reach around USD 50.71 billion by 2034. The market is expanding at a solid CAGR of 26.82% over the forecast period 2024 to 2034. The North America ePrescribing market size reached USD 1.71 billion in 2023. The rising adaptation of digitalization and technological adoption in healthcare is boosting the growth of the market.

ePrescribing Market Key Takeaways

• North America dominated the market with the largest market share of 46% in 2023.
• Asia Pacific is expected to have the fastest growth during the forecast period.
• By product, the solution segment dominated the market in 2023.
• By delivery mode, the web/cloud-based segment has contributed more than 58% of revenue share in 2023.
• By substances, the controlled substances segment dominated the ePrescribing market in 2023.
• By usage, the handheld segment accounted for the largest market share in 2023.
• By specialties, the sports medicine segment dominated the market with the largest share in 2023.
• By end-user, the hospital segment dominated the ePrescribing market with the largest share in 2023.

U.S. ePrescribing Market Size and Growth 2024 to 2034

The U.S. ePrescribing market size was exhibited at USD 1.28 billion in 2023 and is projected to be worth around USD 17.80 billion by 2034, poised to grow at a CAGR of 27.03% from 2024 to 2034.

North America dominated the market with the largest ePrescribing market share in 2023. The growth of the market is attributed to the early adoption of technological advancements in the healthcare industry. The rising geriatric population and the penetration of chronic diseases are driving the growth of the healthcare infrastructure. The rising cases of infectious illness in the population are restricting frequent visits to hospitals or other healthcare institutions and the adoption of telehealth or telemedicine applications that are driving the growth of the ePrescribing market. Additionally, the rising adoption of electronic prescriptions and digitization in other healthcare operations are further boosting the growth of the region's market.

Asia Pacific is expected to have the fastest growth during the forecast period. The growth of the market is fueled in the region due to the rising population and the higher demand for developed and well-equipped healthcare infrastructure. The increasing number of patients in healthcare institutes is driving the number of patient databases that make essential adoption of digital solutions like telemedicine, electronic prescription, remote health monitoring, and other applications for catering to the evolving number of patients.

The ePrescribing helps improve the overall operations in the healthcare workflow, as well as efficiency and accuracy in the treatment of patients, with a lower chance of errors in transferring the prescription. Thus, the adoption of ePrescribing solutions by the number of physicians is accelerating the growth of the ePrescribing market across the region.

Market Overview

E-prescription is also considered an electronic prescription that allows physicians or prescribers to send error-free, accurate, and understandable prescriptions electronically directly to the pharmacy from the point of care. This system helps in enhancing the quality of patient care. E-prescription is part of the broader digital health and medicine safety framework. It sends the prescription directly to the pharmacist electronically without the need for any paper prescription. This makes prescriptions more efficient, reduces errors, and reduces the need for storing, handling, and maintaining paper prescriptions. The rising adoption of digitalization and automation in several sectors, as well as in the healthcare industry, is driving the growth of the ePrescribing market.

ePrescribing Market Growth Factors

• The increasing adoption of technologies in the healthcare sector and the rising awareness about the spread of infections caused by patients' and physicians' frequent visits to hospitals are driving the adoption of the ePrescribing market.
• The rising global population and the increasing demand for healthcare infrastructure are driving advancements like electronic prescriptions or ePrescribing, and the rising adoption of remote healthcare facilities is driving the growth of the market.
• Rising investment in the expansion of healthcare innovations and facilities, such as an increase in new activities, product launches, product approvals, collaboration, and acquisitions, is accelerating the growth of the market.
• The increasing adoption of electronic health records (EHRs), digitization, artificial intelligence, and automation in the healthcare industry is further contributing to the growth of the ePrescribing market.
• The continuous evolution in demand for healthcare technologies and the investment in further launching products, services, treatment procedures, and medicine by the healthcare industry are driving the growth of the ePrescribing market.

ePrescribing Market Scope

Market Dynamics

Driver

Rising adoption of healthcare facilities and prescribers

The rising adaptation of electronic prescriptions by the number of healthcare physicians and prescribers is driving the growth of the market. The electronic prescription enables the prescribers to assess the health plan formulator electronically, medical history, and eligibility of the patients at the point of care and helps in transmitting the prescription security to the pharmacists. It helps in improving the safety of the prescription at the time of generation, and it has to be checked at the time of prescribing with the patient’s electronic medication profile.

The rising importance of ePrescribing due to medication errors and adverse drug events (ADEs) contributed to over 7000 deaths every year due to drug-related issues, which cost drug-related mortality and morbidity over $77 billion a year. There are several benefits associated with electronic prescription: our patient safety, cost benefits, access to prescription records, enhanced workflow, and others are driving the adoption of ePrescribing by the prescribers or physicians that are contributing to the expansion of the ePrescribing market.

Restraint

High cost

The higher cost associated with the implementation and installation of ePrescribing in healthcare facilities is restraining the growth of the market. The high cost associated with the implementation services, maintenance, integration of ePrescribing with the HER-EMR, support services, and training and education. Additionally, the lack of knowledge about ePrescribing technology is hampering the growth of the ePrescribing market.

Opportunity

Rising adoption of telehealth

The increasing population and the rising demand for efficient healthcare infrastructure drive the demand for healthcare institutes like hospitals, clinics, multispecialty hospitals, and other healthcare institutes. The rising demand for healthcare facilities in the remote and underserved areas of the countries is driving the growth of telehealth. It is the remote healthcare facilities that allows the interaction between the medical practitioners and patients and helping them with the proper treatment plan. The rise in the telehealth is anticipated the growth opportunities for the ePrescribing market.

Product Insights

The solution segment dominated the ePrescribing market in 2023. The growth of the segment is attributed to the rising adoption of software used in the healthcare industry to streamline patient management and help manage workflow in the pharmacy and hospital settings. Software solutions help maintain the patient's history and prescribe treatment accordingly.

The segment is further divided into the integrated and standalone solutions. Integrated ePrescribing in the healthcare system is used to connect with patients’ records, enhancing patients' experience and care. Integrated software solutions are further leveraged into other healthcare workflows, such as optimizing and streamlining healthcare workflows and increasing communication with patients.

Additionally, the standalone software solution is increasing rapidly due to its reduced cost of installation as compared to the integrated solutions. Standalone solutions are suitable for the requirements of the healthcare system and are a great way to start practice in electronic data and workflow management in telehealth with more economic stability.

Delivery Mode Insights

The web/cloud-based segment dominated the ePrescribing market in 2023. The growth of the segment is attributed to the rising adoption of cloud-based solutions by several healthcare practitioners, institutes, and hospitals due to higher efficiency and reduced cost as compared to on-premise solutions. Many physicians or hospitals cannot afford the infrastructure of on-premise systems that accelerate demand for the cloud-based platform segment.

The cloud-based platform is an effective solution for independent healthcare practitioners, small-scale clinics, community hospitals, and doctor’s offices that are not willing to pay the higher infrastructure cost associated with the on-premise solution. Thus, the several advantages associated with the cloud-based platform drive the adoption of the segment.

Substances Insights

The controlled substances segment dominated the ePrescribing market in 2023. The growth of the segment is attributed to the increasing adoption of electronic prescribing of controlled substances by the number of physicians because it reduces the burden of physicians for detecting prescription irregularities and fraud. Electronic prescribing of controlled substances helps avoid errors, enhances workflow efficiencies, and allows calls from the pharmacies to clarify the written prescription. The controlled substances have the ability to send error-free, accurate, and understandable controlled substance prescriptions directly to the pharmacy from the healthcare institutes.

Usage Insights

The handheld segment accounted for the largest ePrescribing market share in 2023. The rising use of handheld devices like smartphones allows physicians to make electronic prescriptions for patients. Many handheld devices, such as tablets and smartphones, have mobile applications for the ePrescribing specialties. The rising development in the development of mobile applications for electronic prescription helps physicians and point-of-care prescribe drugs and treatments via handheld devices.

Specialties Insights

The sports medicine segment dominated the ePrescribing market with the largest share in 2023. The rising cases of sports injuries in athletes and the rising adoption of telemedicine by athletes and sports persons due to less time to frequent visits in hospitals drive electronic prescriptions by the sports medicine segment. Additionally, sports medicine physicians require special medication routines based on the sports injuries and demands of the athletes.

The ePrescribing works in sports medicine with the collection of health data by wearable devices, athlete health monitoring systems, and fitness trackers it helps practitioners track the real-time health insights of athletes, performance metrics, and injury risk. Thus, the rising adoption of ePrescribing by sports medicine practitioners is driving the growth of the market.

End-user Insights

The hospital segment dominated the ePrescribing market with the largest share in 2023. Hospitals are among the earliest adopters of digitization in operations. Hospitals have a large number of patient databases, frequent patient visits, and complex workflows that drive the demand for digital solutions to streamline processes and enhance efficiency. Hospital practitioners highly prefer the ePrescribing platform for prescribing accurate drugs directly to pharmacists. It allows the electronic transfer of prescriptions to pharmacists without any type of error or writing mistakes in the prescription. Thus, the rising investment by the hospital authorities in the adaptation of digitalization and automation in the healthcare workflow is driving the growth of the market.

ePrescribing Market Companies

• Cerner Corporation (Oracle)
• Allscripts Healthcare, LL
• Epic Systems Corporation
• DrFirst
• Athenahealth
• NXGN Management, LLC
• McKesson Corporation
• Surescripts
• Change Healthcare
• Practice Fusion, Inc.
• Networking Technology, Inc. (RXNT)

Recent Developments

• In August 2023, Telecare, a health tech startup, introduced RxPad, the first standalone electronic prescribing platform in Australia. The launch is a mobile-friendly cloud-based platform that digitizes processes like signing off, writing up, and posting prescriptions.
• In March 2024, UnitedHealth Group (UHG) launched Change Healthcare's ePrescribing service to combat extensive pharmacy delays.
• In November 2023, NHS patients in the North of Wales are about to launch the new electronic prescription services that can send prescriptions directly to the pharmacies and remove the need for paper prescriptions.
• In March 2022, FDB First Databank, Inc., a leading firm in drug knowledge that helps healthcare providers make informed decisions, launched the FDB Vela™, the latest cloud-based ePrescribing network that allows the efficient flow of critical medication prescription information, clinical decision support between prescribers, benefits verification, pharmacies, payers, and other constituents.

Segments Covered in the Report

By Product

• Solutions
  • Integrated solutions
  • Standard solutions
• Services
  • Support
  • Implementing
  • Training
  • Network

By Delivery Mode

• Web-cloud Based
• On-premise

By Substances

• Controlled Substances
• Non-Controlled Substances

By Usage

• Handheld
• Computer-based Devices

By Specialties

• Sport Medicine
• Oncology
• Neurology
• Cardiology
• Others

By End-user

• Hospitals
• Office-based Physicians
• Pharmacy
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa