Web & cloud based accounted for a major share in the digital prescription technology market.
According to the latest Arizton's market research report, the digital prescription technology market size to reach over USD 3 billion by 2026, growing at a CAGR of over 21% during the forecast period.
Digital Prescription Technology Market – Growth Analysis
Electronic prescribing is an effective technology-based strategy, that can largely reduce errors compared with hand-written prescribing. Integrated e-prescribing solutions are in high demand, accounting for a major share of approximately 87% in the modality segment. E-prescribing have gained tremendous popularity and are growing rapidly not because of the technological advancements, but because of the significant benefits it delivers to caregivers and patients. The digital prescription technology market is witnessing an impressive growth. E-prescribing software is an emerging healthcare technology and will witness a huge demand across the world in coming years. Web & cloud based accounted for a major share in the digital prescription technology market.
What’s Trending in the Market?
- Over 95% of the US pharmacies are connected to the Surescripts network including thousands of local independent pharmacies.
- DrFast integrated e-prescribing services to witness wider adoption by several end-users and will boost its sales in coming years.
- Practice Fusion has the largest cloud based EHR platform across the US.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by type, delivery mode, modality, medication type, end-user, and geography
- Competitive Landscape – 4 Key Company Profiles and 16 Other Prominent Vendors
Is North America Dominating the Global Digital Prescription Technology Market?
According to the Arizton’s research, North America accounted for largest share in the digital prescription technology market. The region is witnessing constant developments in healthcare IT sector, high adoption of EHR solutions, and initiatives by the government and regulatory bodies leading to high utilization of e-prescribing software. Telehealth in North America is gaining immense traction as healthcare providers are implementing more sophisticated health IT infrastructures. Advancement in technology is boosting the growth of digital prescription technology market in North America. Both the US and Canada have established mandates to encourage the use of EHR thereby, soaring the demand for e-prescription in the region. Telehealth enhancing numerous growth opportunities for the players to innovate new technologies such as e-prescription, e-visits, and more in the healthcare settings.
Global Digital Prescription Technology Market - Competitive Landscape
There is a presence of several players in the digital prescription technology market and they are offering e-prescription solutions across globe. Several new players are entering the market and collaborating with major software players to create a strong brand image. EHR players are integrating e-prescribing services into their EHR software to gain attention of end-users utilizing the EHR services. Practice Fusion has the largest cloud-based EHR platform across the US. It is the company’s free EHR software that includes features of e-prescribing, medical billing, medical charting, labs, and imaging. InSync Healthcare Solutions offers e-prescribing software solutions that helps for secure transmission for electronic prescriptions. Their advanced e-prescription technology provides features such as EPCS, electronic prior authorization, and real time prescription benefit.
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