COVID-19 Impact on ePrescribing Mechanism Market:

The COVID-19 pandemic will not directly impact the e-prescribing market; however, its impact on the healthcare IT and the EMR markets will drive the demand for e-prescribing solutions during and after the global pandemic. Due to the COVID-19 outbreak, the number of teleconsultations has increased. The integration of EHR, telemedicine, and e-prescribing functionalities aid prescribers in creating an interconnected network that ensures the use of HCIT to diagnose and prescribe medicines for patients. In addition, recommendations by the CDC to use telemedicine services and the Drug Enforcement Administration (DEA) regulations for the electronic prescription of controlled substances have increased the number of electronic prescription transactions.

Strategies adopted by EHR and EMR vendors during COVID-19:

# Cerner Corporation (US) integrated its EHR platform with telehealth capabilities, which would help improve patient access to healthcare from home.

# eClinicalWorks (US) integrated its EHR solution with TeleVisits to help with virtual patient care. TeleVisits is a secure platform that uses existing equipment and webcams to diagnose patients remotely.

# Allscripts (US) implemented telehealth solutions through its EHR patient engagement platform, which would enable its clients to access virtual care services. In March 2020, Allscripts had provided telehealth services to over 100 customers.

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Overview of This Study:

The study involved four major activities in estimating the size of the global ePrescribing market. Exhaustive secondary research was done to collect information on the utilization of different solutions and their regional utilization trends. Industry experts further validated the data obtained through secondary research through primary research.

Furthermore, the market size estimates and forecast provided in this study are derived through a mix of the bottom-up approach (country-level adoption of various EHR solutions and utilization of ePrescribing funcitonality) and top-down approach (assessment of utilization/adoption/penetration trends, by type of product& service, delivery mode, end user, and region). After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments.

Market Size Estimation:

The total market size for the ePrescribing market was arrived at after data triangulation from two different approaches, as mentioned below.

Approach 1: Parent Market Analysis

In this report, the global market size for the Revenues of individual companies providing EHR solutions with the integrated e-prescribing module was gathered from public sources and databases. Shares of the EHR market provided by leading players were gathered from secondary sources to the extent available. Individual shares or revenue estimates were validated through expert interviews

Approach 2: Demand Side Analysis

In the case of demand-side analysis, the total number of physicians utilizing the e-prescribing module was studied using secondary and primary research. All the responses were collated to derive a probabilistic estimate of the market size based on the annual and implementation costs per physician per year.

Data Triangulation:

After arriving at the overall ePresciribng market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

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Expected Revenue Growth:

The global ePrescribing Mechanism Market size is projected to reach USD 3.3 billion by 2025 from USD 1.2 billion in 2020, at a CAGR of 23.3%.

Growth Influencing Factors:

Factors such as the increasing adoption of EHR solutions, government initiatives and incentive programs, rising focus on reducing the abuse of controlled substances, increasing focus on reducing medical errors, and the need to curtail the escalating healthcare costs are driving the growth of the e-prescribing market. Additionally, the onset of the COVID-19 pandemic has accelerated the use of telemedicine modules and telehealth consultations. This is further driving the adoption of e-prescribing solutions.

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