Electronic Health Records (EHR) Market : Segmented 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) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
170+ Pages Research Report 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.
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.
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
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.
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.
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
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
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:
Electronic Health Records (EHR) Segments:
|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|
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