US$ 1,270.3 Million Global Electronic Prescribing and Administration System Market to Register 17.1% CAGR between 2021 and 2030, finds Bekryl

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US$ 1,270.3 Million Global Electronic Prescribing and Administration System Market to Register 17.1% CAGR between 2021 and 2030, finds Bekryl

January 11
00:18 2022
US$ 1,270.3 Million Global Electronic Prescribing and Administration System Market to Register 17.1% CAGR between 2021 and 2030, finds Bekryl
Bekryl Market Analysts – E-Prescribing and Administration System
Electronic Prescribing and Administration market to create 2.4X higher revenue opportunity by 2030 than that in 2021, finds Bekryl. In 2021, top five electronic prescribing players accounted for 27.4% market share.

According to the recently released report by Bekryl, Global Electronic Prescribing and Administration System Market is estimated to be valued at US$ 1270.3 million in 2022 and is expected to register 17.1% CAGR during the forecast period. Electronic prescribing has gained significant traction with change in service delivery models during COVID19 phase. Globally, widespread electronic delivery of prescriptions was noticed post 2020. The trend is likely to follow throughout the forecast period as e-prescribing is convenient and time saving as compared to paper scripts.  

Excerpts from the report states North America to dominate the electronic prescribing (e-prescribing) market in 2022. The region accounted for 35.7% market share in 2021. Software dominated the revenue share. Growth in the segment is mainly driven by growing adoption of digital health systems in hospital. Also, increasing demand for integrated e-prescribing systems will create new opportunities for engaged vendors. In addition, favourable reimbursement policies and higher healthcare spending are few other factors driving the electronic prescribing software sales in the region.

Asia Pacific is expected to register fastest growth during the forecast period driven by improving healthcare systems along with increased focus on digital enablement especially in China and India.  

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Few Key Trends from the report:

Trend#1: Shift Towards Market Consolidation

While the industry is still at its nascent stage, leading companies, backed with investors, are adopting inorganic growth strategy for business expansion. In 2021, top five electronic prescribing players accounted for 27.4% market share.

Trend#2: Focus on Long Term End-use Partnership

Engaged e-prescribing companies are focusing on partnering with various end-use players in order to broaden their network and enhance their presence worldwide. For instance, in September 2021, Ventec Life Systems has integrated its VOCSN group of ventilators with Parachute Health’s e-prescribing platform. Another company – Athenahealth, Inc. partnered with AllianceChicago in order to offer comprehensive solution to nationwide network of community health centers.

Trend#3: Increasing Industry Funding in E-Prescribing Domain

As of January 2022, start-ups with activities in electronic prescribing raised over $ 560 million in last ten years. Similar to other industries, VC investment in electronic prescribing is mainly centralized in the US. Prescrip Health Technology, Elemental, Doxper, ScriptDash, DrFirst, easyScripts, EasyRx, and Mediquo are few companies that has raised funding in millions.

Trend#4: By End-use Segment, Hospitals to Dominate Electronic Prescribing Market

On the basis of end-user, electronic prescribing market is segmented into hospitals, office based physicians, pharmacies, and others. In 2021, hospitals accounted for 51.3% of total electronic prescribing software sales.

Key Players in the report are:

Some key electronic prescribing and administration system market players are

 

  • Cerner Corporation
  • Epic Systems Corporation
  • Allscripts Healthcare Solutions, Inc.
  • Athenahealth Inc.
  • NextGen Healthcare, Inc.
  • Medical Information Technology, Inc.
  • Relayhealth Corporation
  • Henry Schein, Inc.
  • eClinicalWorks, LLC
  • Surescripts, LLC

Read more: https://bekryl.com/industry-trends/electronic-prescribing-and-administration-system-market-share-analysis

About Bekryl:

Bekryl Market Analysts is global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, smart technologies, electronics and industrial production.

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Website: https://bekryl.com/industry-trends/electronic-prescribing-and-administration-system-market-share-analysis

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