Market Trends of EHealth Industry
The e-Prescribing Segment is Expected to Hold a Significant Market Share During the Forecast Period
E-prescribing or electronic prescribing is a technology framework that allows physicians and other medical practitioners to write and send prescriptions to a participating pharmacy in an electronic format instead of using written prescriptions.
The segment is expected to grow during the forecast period owing to the rising demand for e-prescriptions due to the minimization of prescription errors, cost reduction, and increasing technological advancements and launches by market players. For instance, according to an article published in the British Medical Journal in December 2022, adverse drug events and medication errors are common among the aging population in nursing homes in Japan. The rising focus on reducing the abuse of controlled substances and increasing focus on reducing medical errors will accelerate the adoption of an e-prescribing system during the forecast period.
Also, the rising government initiatives leading to an increase in the utility of e-prescription are significantly adding to the segment's growth. For instance, in August 2022, the Japanese Ministry of Health, Labour, and Welfare selected four pilot sites for its electronic prescription project. This came ahead of the formal launch of e-prescriptions across the country in January 2023.
Similarly, in November 2022, an official agreement was reached between the Mexican Hospital Consortium (CMH), TINC, and the Association for the Advancement of Medical Instrumentation (AAMI), establishing a new Alliance for Healthcare Technology Management (HTM) in Mexico. Hence, such government initiatives are expected to drive the market during the forecast period.
Moreover, the strategic initiatives by market players for expansions of e-prescription solutions are expected to propel the segment's growth. For instance, in January 2023, the Qatar-based HealthTech startup At Home Doc raised USD 1.9 million in Pre-Series A funding led by Elaj Group's investment arm Tawasol Holdings, endorsed by Qatar Development Bank (QDB) and other angel investors. In June 2022, the Hamad Medical Corporation (HMC) and Primary Health Care Corporation (PHCC) announced adopting Cerner-managed technology to deliver better outcomes in Qatar. The funding will be utilized to enhance electronic prescription solutions in the country.
Thus, the market segment is expected to witness significant growth during the forecast period due to the above-mentioned factors.
North American Holds the Significant Market Share and is Expected to Follow the Same Trend During the Forecast Period
The rising focus on patient care and need, supported by the well-developed and technologically advanced healthcare system, the increasing demand for more effective data management systems, and increasing government investments, acquisitions, and product launches in the region are expected to drive the growth of the eHealth market in the region.
The increasing government investments are expected to drive the market during the forecast period. For instance, in February 2022, the Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access and quality for underserved populations through virtual care such as telehealth, remote patient monitoring, digital patient tools, and health information technology platforms. Hence, such investments in digital health are expected to drive the market during the forecast period.
Also, the rising launches, partnerships, and increasing adoption of electronic health solutions in the region are expected to propel the market growth. For instance, in March 2022, Cantata Health Solutions reported that the Village Network would deploy its Arize Electronic Health Record (EHR) to leverage its superior configuration, outcomes-based reporting, and mobile access capabilities. In May 2022, Cantata Health Solutions was selected by Mental Health Resources (MHR) in New Mexico as its technology partner and will deploy the Arize Electronic Health Record (EHR) solution.
Additionally, in January 2024, Eli Lilly and Company launched LillyDirect, a new digital healthcare experience for patients in the United States living with obesity, migraine, and diabetes. LillyDirect offers disease management resources, including access to independent healthcare providers, tailored support, and direct home delivery of select Lilly medicines through third-party pharmacy dispensing services. Hence, the launch of such eHealth platforms in the United States is expected to drive the market during the forecast period.
