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 E Prescribing 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.
In this report, the market is segmented based on product, delivery mode, end user, and region. This report also discusses the key market drivers, restraints, opportunities, and challenges for this market and its submarkets.
The global e-prescribing market is consolidated in nature with the top five market players accounting for more than 60% of the market. 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.) lead the global e-prescribing market. 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.).
Cerner Corporation is one of the major players in the global e-prescribing market. Cerner mainly focuses on acquisitions as its key business strategy. In line with this strategy, in February 2015, Cerner acquired Siemens Health Services (Germany) and its assets, client relationships, and associates. Furthermore, in December 2014, the company acquired InterMedHx, LLC (U.S.) a provider of health technology solutions in the areas of preventive care, patient administration, and medication history.
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This acquisition strengthened Cerner‘s e-prescribing and other healthcare IT business. Cerner Corporation also focuses on expanding its business globally to strengthen its position in the e-prescribing market, particularly in high-growth regions such as Asia-Pacific and Latin America.
Epic Systems Corporation is a leading provider of e-prescribing solutions, specializes in interoperable solutions, and mainly focuses on the needs of mid-sized to large hospitals and integrated healthcare organizations. The company is notable for having secured more contracts with hospitals in 2014 than any of its competitors in this market. It also—along with athenahealth—did not lose any existing customers in that year. Its customers include U.S.-based hospital chains such as Johns Hopkins Health System, Duke University Health System, UNC Health Care, University of Utah Health Care, and Vanderbilt Health System.
Allscripts Healthcare Solutions Inc. is one of the major players in the e-prescribing and electronic health record market. It is a research-based HCIT company that provides innovative clinical software and services that deliver significant benefits to patients and healthcare professionals. The company focuses on R&D activities to enhance its service offerings. In 2015, the company invested USD 234.1 million—about 17% of its total revenue—on R&D activities. The company expanded considerably in April 2016 post its merger with Netsmart Technologies, Inc. (U.S.).
In 2015, the solutions segment accounted for the largest share in the market. The large share of the solutions segment can be attributed to the growing focus on minimizing the fraud & abuse of controlled substances and increasing adoption of e-prescribing, government initiatives, & incentive programs.
In 2015, the web & cloud-based segment accounted for the largest share of the market. The large share of web & cloud-based segment can be attributed to the factor that healthcare organizations are increasingly embracing cloud-based solutions to increase the accessibility to patient records from remote locations and thereby improve workflow efficiency. In addition, cloud-based solution can be sold on demand and fully managed by the provider; this differentiates it from traditional methods of delivery.
The key strategies adopted by major players in the global e-prescribing market are agreements, partnerships & collaborations; mergers & acquisitions; product launches; and geographic expansions. In this competitive market, global players aim to maintain their market position through continuous investments in R&D with a focus on developing innovative solutions or enhancing their existing solutions.
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