E-Prescribing Market Growth Driven by Innovation, Regulation

The global e-prescribing market is poised for rapid growth, with forecasts predicting a compound annual growth rate of 21.87% from 2023 to 2029, reaching a projected value of US$5.57 billion by the end of the period, reports Research and Markets. This expansion is driven by advances in technology, regulatory support, and the increasing adoption of digital healthcare solutions across public and private sectors.

The global e-prescribing market presents significant opportunities, reads the "E-prescribing Market - Focused Insights 2024-2029" report. E-prescribing systems, which incorporate clinical decision support and electronic prior authorization, are revolutionizing medication management by enhancing accuracy and operational efficiency.

Meanwhile, regulations designed to promote e-prescribing standardize healthcare practices, improve medication management, and boost patient outcomes. By making prescriptions legible and providing comprehensive medication histories, these systems help healthcare providers avoid adverse drug interactions and over-prescriptions. In Mexico, for example, over half of medical prescriptions are often illegible, says Marcos Pascual, Commercial Director of ANAFARMEX. Additionally, fewer than 20% of patients retain the information provided by their doctor during consultations, highlighting the critical need for clear and reliable prescription methods, as reported by MBN.

Another driving force in digital healthcare is the effort to mitigate controlled substance abuse. E-prescribing systems equipped with Electronic Prescriptions for Controlled Substances (EPCS) enhance monitoring by integrating with Prescription Drug Monitoring Programs (PDMPs). These tools allow providers to access patient medication histories, identify misuse patterns, and prevent "doctor shopping." Clinical decision support features further safeguard patient health by alerting prescribers to potential drug interactions and excessive dosages, reducing the risks associated with opioid misuse and other controlled substances.

Despite these advances, the industry faces significant challenges, particularly in achieving seamless interoperability across healthcare systems. A lack of standardized data formats and limited policies supporting data sharing hinder the integration of comprehensive patient information. Integrating modern e-prescribing platforms with legacy systems can be costly and complex. In Mexico, for example, insufficient digital infrastructure, which affects 62% of public hospitals, limits their ability to integrate advanced technological solutions, according to Medikit.