Global E-prescribing Market - Focused Insights 2024-2029

E-PRESCRIBING MARKET SIZE & GROWTH INSIGHTS

The global e-prescribing market was valued at USD 1.69 billion in 2023 and is expected to reach USD 5.56 billion by 2029, growing at a CAGR of 21.87% during the forecast period. The global increase in e-prescribing is driven by its ability to enhance patient safety by reducing medication errors, along with strong government initiatives promoting digital healthcare. The rise of telemedicine and widespread adoption of electronic health records (EHRs) have further fueled demand, as e-prescribing complements remote care and streamlines healthcare processes.

MARKET DEFINITION

E-prescribing, or electronic prescribing, is the process of electronically generating and transmitting prescriptions from healthcare providers to pharmacies. This system replaces traditional paper prescriptions with a digital format that enhances efficiency, accuracy, and safety in medication management. E-prescribing has become an integral part of modern healthcare due to the need for improved patient care and the adoption of technology in medical practices.

RECENT VENDORS ACTIVITIES

In 2024, VieCure, a cancer care company, announced that it is integrating e-prescribing and medication management solutions from health technology pioneer DrFirst into its clinical decision support system.

In October 2021, Veradigm, a division of Allscripts Healthcare Solutions, and CareMetx, LLC formed a strategic alliance to integrate CareMetx’s support services into Veradigm's AccelRx® specialty medication platform. This partnership was designed to streamline and expedite the specialty medication approval process, enabling healthcare providers to better manage the complex journey of specialty prescriptions. By bringing CareMetx’s services into AccelRx, the collaboration aims to enhance overall patient care, creating a more efficient, end-to-end experience from prescription to medication delivery.

KEY TAKEAWAYS

• Market Growth: The global e-prescribing market was valued at USD 1.69 billion in 2023 and is expected to reach USD 5.56 billion by 2029, growing at a CAGR of 21.87% during the forecast period.
• By Type: The standard e-prescribing segment holds the largest market share. The growth of the segment is driven by the need for efficiency, patient safety, and regulatory compliance. Recent developments include new federal rules for Medicare Part D, mandating the adoption of updated National Council for Prescription Drug Programs (NCPDP) standards by 2028. These standards aim to improve interoperability and real-time benefit sharing, further enhancing patient care by ensuring that prescription details, including cost and coverage, are available at the point of care.
• By Delivery Mode: The web & cloud-based segment shows the highest growth of 22.33%, driven by scalability, accessibility, and integration capabilities. Cloud-based systems, in particular, offer the flexibility of accessing and sharing prescription data remotely, supporting the rise of telemedicine and remote consultations. Their compatibility with electronic health records (EHR) and other healthcare systems ensures seamless data flow, enhancing decision-making and patient outcomes.
• By Modality: The integrated segment accounts for the largest market share due to its ability to streamline clinical workflows and enhance patient safety. These systems are directly incorporated into broader electronic health record (EHR) platforms, allowing seamless access to patient data, medical histories, and drug interactions, enabling healthcare providers to make informed decisions efficiently at the point of care.
• By Medications: The cardiovascular segment holds the largest market share of over 19%. The segmental growth is primarily due to e-prescribing in cardiovascular care has improved the accuracy and speed of medication dispensing. The integration of electronic prescribing systems in cardiology enhances efficiency, safety, and adherence to treatment protocols, particularly for conditions like hypertension, heart failure, and atrial fibrillation. One of the primary advantages of e-prescribing in cardiovascular care is the improved accuracy and speed of medication dispensing.
• By End-Users: The healthcare facilities segment shows the highest growth, as it significantly improved workflow, patient safety, and operational efficiency. Transitioning to e-prescribing has proven to lower error rates substantially. Integrating e-prescribing with electronic health records (EHR) allows access to comprehensive patient data, including medication histories and drug interaction alerts, facilitating informed prescribing decisions. This integration enhances safety and supports tracking patient outcomes and adherence, thereby improving overall care quality.
• Growth Factor: The global e-prescribing market is set to grow due to the adoption of cloud-based digital record-keeping and the expansion of e-prescribing into public hospitals and other health settings.

MARKET OPPORTUNITIES & DRIVERS

The Expansion of E-prescribing Into Public Hospitals and Other Health Settings

The expansion of ePrescribing into public hospitals is transforming healthcare by enhancing medication management, accuracy, and operational efficiency. Traditionally slower to adopt new technologies due to size and complexity, public hospitals are now increasingly embracing ePrescribing, largely driven by government regulations aimed at improving healthcare outcomes, reducing medication errors, and cutting costs. In the U.S., laws like MACRA encourage adoption, while countries in the EU, such as the UK and Sweden, have established national programs mandating digital prescriptions in public hospitals. This regulatory support promotes standardization, enhances patient safety, and streamlines care for large patient populations. ePrescribing also improves medication management by making prescriptions legible and accurate and by providing comprehensive medication histories, which helps avoid adverse drug interactions and over-prescription—a critical feature in high-volume public hospital settings.

Rising Focus on Reducing The Abuse of Controlled Substances

Amid the opioid crisis, reducing controlled substance abuse has become a priority in healthcare. E-prescribing systems, particularly those with Electronic Prescriptions for Controlled Substances (EPCS) capabilities, are essential for improving prescription monitoring and safety. Integrating Prescription Drug Monitoring Programs (PDMPs) into e-prescribing allows providers to review a patient’s medication history, identifying misuse patterns like "doctor shopping" and ensuring more informed, secure prescribing. Additionally, clinical decision support tools within e-prescribing systems alert prescribers to risks like drug interactions or high doses, promoting safer prescribing practices and minimizing misuse of controlled substances.

INDUSTRY RESTRAINTS

Lack of Interoperability Between Various Systems

Interoperability in healthcare, the seamless exchange and interpretation of data across systems, faces significant challenges despite technological progress. A major barrier is the lack of standardized data formats and protocols, which complicates access to comprehensive patient information. Limited policies supporting interoperability, along with vendor resistance to data sharing due to competitive concerns, further restrict seamless information flow. Additionally, integrating legacy systems with modern technologies is difficult and costly, slowing adoption and limiting the benefits of a connected healthcare ecosystem. Initiatives like the 21st Century Cures Act aim to address these issues, but significant hurdles remain for coordinated care.

GEOGRAPHICAL ANALYSIS

North America dominates and holds the largest share of the global e-prescribing market. Both the US and Canada have established mandates to encourage the use of EHR. The North American e-prescribing market is projected to grow at a strong pace, with the U.S. leading due to the emphasis on improving patient safety and minimizing prescription errors. The implementation of integrated EHR systems that include e-prescribing capabilities is a key factor in reducing manual errors and ensuring better access to patient medication histories. In the US, incentive programs were created to boost EHR usage, while Canada mandated to have a baseline EHR record be available for all healthcare professionals

COMPETITIVE LANDSCAPE

The global e-prescribing market report consists of exclusive data on 28 vendors. The market is witnessing rapid growth, driven by international and regional players offering solutions with advanced features like clinical decision support and electronic prior authorization. The market is expected to expand further as new vendors collaborate with established software providers. The competitive landscape of the global e-prescribing market is characterized by strong competition among established and emerging players, a growing preference for integrated and cloud-based solutions, and a focus on meeting regulatory requirements across regions.