E Prescribing Market - Emerging Trends, Global Future Forecasts and Major Industry Leaders

Various government initiatives and incentive programs, rising focus on the reduction of fraud & abuse of controlled substances, and increasing focus on reducing medical errors, and the need to curtail escalating healthcare costs are driving the growth of the market. 

The increasing number of collaborations between software vendors and network providers and the vast untapped Asia-Pacific region are expected to provide significant growth opportunities for players in the market. The rising specialty prescribing, growing consolidation in the e-prescribing market, growing demand for cloud-based solution are the key trends in the market.

The global e-prescribing market is expected to reach USD 1,403.2 Million by 2021 from USD 546.5 Million in 2016, at a CAGR of 20.8% during the forecast period.

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The global e-prescribing market is consolidated in nature with the top five market players accounting for more than 60% of the market. 

Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Quality Systems, Inc. (U.S.), athenahealth, Inc. (U.S.), Medical Information Technology, Inc. (U.S.), and RelayHealth Corporation (U.S.) lead the global e-prescribing market. Some of the other leading players in this market include Henry Schein, Inc. (U.S.), Computer Programs and Systems Inc. (U.S.), DrFirst, Inc. (U.S.), Surescripts-RxHub, LLC (U.S.), Change Healthcare Holdings, Inc. (U.S.), Practice Fusion, Inc. (U.S.), GE Healthcare (U.S.), and eClinicalworks (U.S.).

Epic Systems Corporation is a leading provider of e-prescribing solutions, specializes in interoperable solutions, and mainly focuses on the needs of mid-sized to large hospitals and integrated healthcare organizations. The company is notable for having secured more contracts with hospitals in 2014 than any of its competitors in this market. It also—along with athenahealth—did not lose any existing customers in that year. Its customers include U.S.-based hospital chains such as Johns Hopkins Health System, Duke University Health System, UNC Health Care, University of Utah Health Care, and Vanderbilt Health System.

Cerner Corporation is one of the major players in the global e-prescribing market. Cerner mainly focuses on acquisitions as its key business strategy. In line with this strategy, in February 2015, Cerner acquired Siemens Health Services (Germany) and its assets, client relationships, and associates. 

Furthermore, in December 2014, the company acquired InterMedHx, LLC (U.S.) a provider of health technology solutions in the areas of preventive care, patient administration, and medication history. This acquisition strengthened Cerner‘s e-prescribing and other healthcare IT business. Cerner Corporation also focuses on expanding its business globally to strengthen its position in the e-prescribing market, particularly in high-growth regions such as Asia-Pacific and Latin America.

Allscripts Healthcare Solutions Inc. is one of the major players in the e-prescribing and electronic health record market. It is a research-based HCIT company that provides innovative clinical software and services that deliver significant benefits to patients and healthcare professionals. The company focuses on R&D activities to enhance its service offerings. In 2015, the company invested USD 234.1 million—about 17% of its total revenue—on R&D activities. The company expanded considerably in April 2016 post its merger with Netsmart Technologies, Inc. (U.S.). 

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The key strategies adopted by major players in the global e-prescribing market are agreements, partnerships & collaborations; mergers & acquisitions; product launches; and geographic expansions. In this competitive market, global players aim to maintain their market position through continuous investments in R&D with a focus on developing innovative solutions or enhancing their existing solutions.

Active Pharmaceutical Ingredients Industry is Expecting Global Revenue Growth @CAGR of 6.1%

The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.

The global APIs market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period.

On the basis of expression system, biotech APIs can be categorized into mammalian expression systems, microbial expression systems, yeast expression systems, insect expression systems, and other expression systems. The biotech APIs market, by expression system, is dominated by mammalian expression systems owing to their ability to achieve the highest level of post-translational modifications and efficient protein folding, which makes them suitable for human use.

In 2019, the prescription drugs segment is expected to account for the largest share of the APIs market.

Based on the type of drug, the APIs market can be classified into two segments prescription drugs and over-the-counter (OTC) drugs. In 2019, the prescription drugs segment is expected to account for the largest share of the APIs market. The demand for drugs falling under this category has increased significantly in recent years due to the rising prevalence of target diseases.

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The captive API manufacturers segment estimated to account for the largest share in 2019.

Based on type of manufacturer, the APIs market can be divided into captive API manufacturers and merchant API manufacturers. In 2019, the captive API manufacturers segment is expected to account for the largest share of the APIs market. This can be attributed to the fact that most big pharmaceutical companies possess their API manufacturing facilities and are vertically integrated across the pharmaceutical supply chain.

In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. 

The global APIs market has several big players. The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK). 

These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.

Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018. Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).

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Glen Dimplex Group (Ireland) and Legacy Chiller Systems Inc. (US) are leading players in Medical Equipment Cooling Market

Growth in the medical equipment cooling market can be attributed to factors such as economic benefits offered by cooling systems, technological advancements in diagnostic imaging modalities, rising geriatric population, and a growing number of diagnostic centers and hospitals. On the other hand, the risk of corrosion in cooling systems may also pose a major challenge to market growth in the coming years.

An analysis of the market developments between 2016 and 2018 revealed that several growth strategies such as product enhancements and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the medical equipment cooling market.

The major players operating in the medical equipment cooling market include Glen Dimplex Group (Ireland), Legacy Chiller Systems Inc. (US), Filtrine Manufacturing Company, Inc. (US), Laird Technologies, Inc. (US), Cold Shot Chillers (US), KKT Chillers (Germany), General Air Products, Inc. (US), Drake Refrigeration, Inc. (US), Lytron, Inc. (US), Motivair Corporation (US), American Chillers (US), Parker Hannifin Corp (US), Whaley Products Inc. (US), Johnson Thermal Systems (US), and Haskris (US). 

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Glen Dimplex (Ireland) is a leading player in the medical equipment cooling systems market. The company manufactures and delivers a wide range of chillers and cooling solutions across the medical, food packaging, plastics, and semiconductor industries in the US and internationally. 

Glen Dimplex offers active and passive cooling solutions either in integrated or stand-alone modes, for a wide range of medical equipment such as CT, MRI, linear accelerators, and medical laser technology. Along with high-quality products the company also offers a comprehensive range of tailored services to meet customer needs. The company has a global presence and a prominent after-sales service network, with locations across the US, China, Germany, and Ireland.

Legacy Chillers (US), a leading process chiller manufacturer in the US, offers cooling, heating, and ventilation solutions for residential, commercial, and industrial applications. Legacy introduced the Nexus technology in the market to produce process cooling solutions that use outdoor air as the primary cooling medium. The company uses a patented economizer technology, which significantly increases the end user's electrical cost savings. Legacy also offers excellent key services, including chiller system design services and offers training programs such as the chiller system training webinar series.

Recent Developments:

# In 2018, Laird Technologies (US) enhanced its Tunnel Series TEA which offers an expanded line of cooling capacities ranging up to 100 watts.

# In 2016, KKT Chillers (Germany) established a new service center in Shanghai, China, to meet the increasing demand for chillers in the region.

Key Questions Addressed by the Report:

# What are the growth opportunities related to the adoption of medical equipment cooling across major regions in the future?

# Emerging countries have immense opportunities for the growth and adoption of medical equipment cooling modalities. Will this scenario continue in the next five years?

# Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?

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