Europe $1 Billion E-prescribing Markets 2021-2026: Prominent Players are Surescripts, Henry Schein, Aegis Healthcare, DrChrono, SISGAIN, CarePaths, eClinicalWorks, CGI, and Change Healthcar
DUBLIN, May 28, 2021 /PRNewswire/ -- The "Europe E-prescribing Market - Industry Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The Europe e-prescribing market to cross over USD 1 billion, growing at a CAGR of around 23% during the forecast period.
Telehealth services are among the second biggest eHealth trends in Europe after patient electronic health records. One of the significant factors driving the industry growth is the growing awareness and acceptance of remote monitoring solutions and increasing technological advances. For example, in March 2020, Germany performed more than 19,500 teleconsultations.
In Norway, the share of e-consultations was almost 60%. France is a successful example of telehealth adoption, with nearly ten years of successful telehealth legislation in place. Artificial intelligence to transform the digital prescription technology market in Europe.
Big data analytics and machine learning algorithms for analyzing large-scale EMRs data are developed to understand the way prescribers treat patients automatically in real-life scenarios. For instance, AI helps prevent drug overdose by utilizing the medication history to predict the potential for opioid overdose priorly, augmenting the efforts of clinicians to detect such life-threatening risks.
Europe E-Prescribing Market Segmentation
The standard segment accounted for a share of over 94% in the Europe e-prescribing market in 2020. Standard e-prescribing system is a robust technology facilitating an interactive data transaction. These transactions in standard software allow prescribers to view a complete medication list of patients. E-prescribing enhances the efficiency and effectiveness of patient care through automated clinical decision support and tracking of complete medication profiles. Such tools can reduce patient risk towards drugs by identifying them automatically.
Cloud and web-based systems are highly preferred than on-premise as it does not require complex installation processes to set up intense infrastructure to host data. One of the major reasons for the high adoption of web-based solutions is that it can be done through the internet without IT support and minimizes additional cost. Cloud services enable the ability to access healthcare data from different locations and across multiple devices. It can access and process EHRs, collect data, and visualize diagnostic images in various resolutions.
The integrated e-prescribing solutions are in high demand and accounting for a significant share of over 88% in the modality segment. Integrated solutions can improve patient safety and communication with providers. It provides real-time, patient-centered records that are instant, secure, and accessible only by authorized users at a medical practice and provide a broad view about the care a patient has received. Vendors are increasingly focusing on adopting the integration of EHR into their e-prescribing solutions. Emerging players are offering integrated services, which is contributing to its wider acceptance.
Cardiovascular drugs are the most commonly e-prescribing medications mainly due to the fact of the increasing prevalence of cardiovascular diseases. These remain as the leading cause of mortality and a significant cause of morbidity in Europe, causing 45% of all deaths in Europe and 37% in the European Union. The medication type segment includes cardiovascular, anti-infectives, oncology, pain management, behavioral and mental health, and others.
With the growing burden of various diseases, the consumption of drugs has drastically increased. E-prescription has emerged as an effective solution to control the overuse of medications and prevent adverse drug events associated with their overdose. It has successfully proven to reduce such adverse events by limiting the prescribing of drugs and monitoring their usage simultaneously.
The interest in digital health and related technologies increased rapidly in clinical medicine as well as biomedical research and drug discovery. Vendors are customizing their telehealth services by including e-prescribing. E-prescription integrated with advanced telehealth solutions can be used for routine check-ups or prescription refills. Some telehealth services are integrated with EHR to allow electronic prescription.
Insights by Geography
In EU-5, a growing number of healthcare organizations are actively involved in the adoption of digitized services that include eHealth, telemedicine, e-prescribing, EHRs, and others. With such advancements, EU-5 is projected to grow at a lucrative rate due to the increasing demand for EHRs and online prescribing services, favourable governmental policies, and increasing healthcare expenditures.
The rest of Europe has considerable growth potential in the e-prescribing market due to ongoing government initiatives at the country level on implementing and mandating the use of electronic prescribing of medications. Other factors such as the prevalence of chronic illness, demand for online prescriptions, increased concerns of reducing medication errors, healthcare expenditures, and adoption of EHRs for telehealth services are boosting the use of electronic prescription in the region.
Competitive Landscape
The e-prescribing market in Europe consists of some prominent players, including Surescripts, Henry Schein, Aegis Healthcare, DrChrono, SISGAIN, CarePaths, eClinicalWorks, CGI, and Change Healthcare which contributing to the growth of the market in Europe.
The market is likely to witness a rise and increased competition due to the emergence of mid-sized players and start-ups after the comprehensive implementation of online prescribing services across Europe. In coming years, European countries are likely to witness high growth as favourable government initiatives will mandate electronic prescribing software.
Market Dynamics
Overview
- Features of an ideal e-prescribing system
- Standards for Electronic Prescription Systems
- State of E-prescribing in Europe
Market Opportunities & Trends
- Growing Adoption of Telehealth Services In Europe
- AI To Eradicate Prescription Errors
- Normalizing Cross-Border Healthcare Via New E-Prescription Paradigms In Europe
Market Growth Enablers
- Reducing Handwritten Prescriptions & Errors
- Favorable Programs For High EHR Penetration
- Initiatives For Adopting E-Prescribing In Europe
- Healthcare Payors Influencing E-Prescribing Decisions
Market Restraints
- Issues Regarding Security & Data Breach
- Lack Of Standardization & Inadequate Training For Clinicians
- Incompatible Software Systems & Complex Technologies
Key Vendors
- Surescripts
- Henry Schein
- Aegis Healthcare
- DrChrono
- SISGAIN
- CarePaths
- eClinicalworks
- CGI
- Change Healthcare
Other Prominent Vendors
- Nortal
- Medicata
For more information about this report visit https://www.researchandmarkets.com/r/ieinm6
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