Description
Electronic Health Records (EHR) Market
Global Electronic Health Records (EHR) Market to surpass USD 43.34 billion by 2030 from USD 27.22 billion in 2020 at a CAGR of 4.76% in the coming years, i.e., 2021-30.
Product Overview
EHRs are patient-centered and real-time digital records that make patient data available instantly and securely to authorized healthcare professionals. The record comprises information regarding a patient’s medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. EHR systems aid in enhancing patient data accessibility, therefore improving the overall productivity and efficiency of patient care. Medical practitioners’ interactions with EHR are improved by speech-recognition software with natural language processing. It allows professionals to spend less time on paperwork and engage more patients. Furthermore, the use of artificial intelligence (AI) to anticipate EHR-based clinical outcomes has aided in improving the patient experience through better care delivery.
Market Highlights
The market is estimated to proliferate owing to increasing patient data accessibility, therefore improving the overall productivity and efficiency of patient care. Electronic health records’ use is expected to increase in the future due to its various features, applications, and interoperability across a variety of healthcare settings.
Recent highlights in the Global Electronic Health Records (EHR) Market
In July 2020, Cerner Corporation launched a cloud-based EHR solution. The launch is targeted at aiding rural and critical access hospitals by making cost-effective EHR systems available, allowing them to expand their client base.
In December 2020, CompuGroup Medical purchased eMDs, an EHR provider. The acquisition intended to strengthen the firm’s portfolio while also growing and consolidating its footprint in the ambulatory segment in the United States.
Global Electronic Health Records (EHR): Segments
Web/Cloud-based EHR segment to grow with the highest CAGR during 2020-30
Global Electronic Health Records (EHR) market is segmented by Installation Type into Cloud-based and On-Premise. Among these Cloud-based held the largest share in 2020. EHR software that is online/cloud-based operates on a web platform, which eliminates the need for extra hardware and software installation and simplifies deployment in small clinical offices. When compared to client-server systems, it allows practitioners to avoid cash flow interruptions through speedier installation. Web/cloud-based software is cost-effective because it eliminates additional costs such as license fees, frequent upgrades, and device upkeep.
Hospitals segment to grow with the highest CAGR during 2020-30
Global Electronic Health Records (EHR) is divided by End-User into Hospitals, Diagnostics and Imaging centers, Ambulatory care centers, and Pharmacies. Among these Hospitals accounted for the largest market share of 61% in 2020 and will maintain its dominance during the forecast period. The huge amount of medical data collected in hospitals is responsible for the increase. In addition, the cost of installation in hospitals is lower than in ambulatory care facilities, boosting market development.
Market Dynamics
Drivers
Growing digitalization across industries
As the healthcare sector moves toward digitization, electronic medical record (EMR) systems are becoming more popular. Many government measures, including as encouraging physicians to use electronic health records, investing in educating healthcare information technology employees, and creating regional extension centers to give technical and other guidance, are fueling the expansion of the EMR industry.
Increase in overall productivity
The usage of electronic medical records has been rapidly increasing in several nations during the last few years. It is happening as a result of the general public’s understanding that, in order to obtain high-quality treatment at reduced prices, strong health information technology (HIT) must be implemented. Clinical applications such as decision assistance, outcomes management, order input, and support, and health information and data all use EHR extensively. It’s also utilized in administrative and financial applications in healthcare.
Restraint
The primary restraints in the expansion of the electronic medical records industry include data privacy concerns, expensive initial investment, a scarcity of properly educated employees, and interoperability difficulties.
Electronic Health Records (EHR): Key Players
Cerner Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
COMPUTER PROGRAMS AND SYSTEMS, INC.
Allscripts Healthcare Solutions, Inc.
McKesson Corporation
Epic Systems Corporation.
NextGen Healthcare
eClinicalWorks
Greenway Health
AdvancedMD, Inc.
CureMD Healthcare
Global Electronic Health Records (EHR): Regions
Global Electronic Health Records (EHR) market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Electronic Health Records (EHR) in North America held the largest market share of over 45% in the year 2020 because of positive government actions and the implementation of supportive programs The Centers for Medicare & Medicaid Services in the United States established “Promoting Interoperability Programs” to encourage hospitals and professionals to utilize certified electronic health record technologies. Industry companies are launching innovative software that integrates cutting-edge technology to increase product consumption in the region. The government’s and non-government organizations’ strong focus on the creation of a highly sustainable healthcare ecosystem in the region would boost market demand even more.
Global Electronic Health Records (EHR) is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Russia, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, Japan, Malaysia, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Saudi Arabia, South Africa and Rest of MENA
Global Electronic Health Records (EHR) report also contains analysis on:
Electronic Health Records (EHR) Segments:
By Installation type
Cloud-based
On-Premise
By Type
Acute EHR
Ambulatory EHR
Post-Acute EHR
By End-User
Hospitals
Diagnostics and Imaging centers
Ambulatory care centers
Pharmacies
Electronic Health Records (EHR) Market Dynamics
Electronic Health Records (EHR) Market Size
Supply & Demand
Current Market Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Electronic Health Records (EHR) Market
Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 27.22 billion
Revenue forecast in 2030 USD 43.34 billion
Growth Rate CAGR of 4.76% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Installation type, Type, End-User
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Cerner Corporation, COMPUTER PROGRAMS, AND SYSTEMS, INC., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation., NextGen Healthcare,eClinicalWorks, Greenway Health, AdvancedMD, Inc.CureMD Healthcare, Other Prominent Players
Frequently Asked Questions
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