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Market Dynamics:
Various government initiatives and incentive programs, rising focus on the reduction of fraud & abuse of controlled substances, and increasing focus on reducing medical errors, and the need to curtail escalating healthcare costs are driving the growth of the market.
The increasing number of collaborations between software vendors and network providers and the vast untapped Asia-Pacific region are expected to provide significant growth opportunities for players in the market. The rising specialty prescribing, growing consolidation in the e-prescribing market, growing demand for cloud-based solution are the key trends in the market.
North America is the largest market for e-prescribing, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, Asia-Pacific possesses lucrative growth potential for the market during the forecast period.
The high growth of this region can be attributed to healthcare organizations in the Asia-Pacific region that are actively moving towards digitization with a focus on streamlining their entire workflow and ensuring patient safety. The hospitals in Japan are widely adopting best practices, such as healthcare information exchange, e-prescribing, and electronic health record systems, to provide quality care to patients.
The market is consolidated at the top with the top five companies accounting for more than half of the global market. The major players in the market include Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Quality Systems, Inc. (U.S.), athenahealth, Inc. (U.S.), Medical Information Technology, Inc. (U.S.), and RelayHealth Corporation (U.S.). Some of the other leading players in this market include Henry Schein, Inc. (U.S.), Computer Programs and Systems Inc. (U.S.), DrFirst, Inc. (U.S.), Surescripts-RxHub, LLC (U.S.), Change Healthcare Holdings, Inc. (U.S.), Practice Fusion, Inc. (U.S.), GE Healthcare (U.S.), and eClinicalworks (U.S.).
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