Global e-prescribing market to reach $887 million by 2019
The global market for e-prescribing systems is expected to grow from $250.2 million in 2013 to $887.8 million by 2019, according to a report from Transparency Market Research.
Government incentive programs are among the factors driving the market, which is expected to have a compound annual growth rate of 23.5 percent over five years, according to an announcement. The report foresees an immense potential for the growth in implementation of electronic health record systems that include e-prescribing.
However, there are barriers, which include cost and a lack of high-speed broadband and IT professionals in rural areas. A literature review published last month in Perspectives in Health Information Management also cited implementation costs as one of the primary barriers to adoption of e-prescribing.
North America is the fastest-growing market, according to the report, fueled by the federal incentive program in the U.S., though Europe is the largest market, also growing rapidly through eHealth projects such as European Patient Smart Open Services (epSOS) and Schleswig-Holstein Health Initiative.
The nationwide health information network Surescripts recently reported that more than 1 billion prescriptions were routed electronically in the U.S. during 2013, up from 788 million the previous year. It routed 58 percent of eligible prescriptions, including 73 percent of those written by office-based physicians.
Tying federal incentives to Medicare services and to "clear and measurable results" helped boost participation in e-prescribing, a Health Affairs article published last July concluded.
To learn more:
- read the announcement
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