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The global electronic health records market is foreseen to witness a laudable growth in the coming years of forecast period from 2017 to 2025, owing to rise in digitalization all across the globe. Athenahealth, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, eClinicalWorks, CPSI, Epic Systems, GE Healthcare, Medical Information Technology, Inc., Greenway Health, LLC, McKesson Corporation, 4medica, and NextGen Healthcare are among the leading organizations dominating the global market. The global electronic health records market is highly focused due to emergence of well-known players in the market. In this market, the key players are reliably putting resources into research to create advanced healthcare IT solutions. The established vendors are continuously dealing with solid competition from the new firms that are able to provide cloud-based electronic health records systems. The competition between the players is anticipated to heighten with increase in mergers and acquisitions and the consolidation of the market.
According to MRRSE, global electronic health records market is expected to flourish decently with a CAGR of 5.7% within the period from 2017 to 2025. In year 2016, the market was evaluated to be around worth US$23.22 bn. This figure is expected to reach somewhere around US$38.29 bn by the end of 2025. Based on installation, the global electronic health records market is dominated by SaaS (software as a service) segment among the medical practitioners, due to its ability to reduce technical faults and low front-end expenses. However, web-based electronic health records segment is preferred owing to its low deployment cost. Geographically, Asia Pacific and Europe are the key regions in terms of revenue contributors in the global market. Due to Rise in old age people, rise in pressure of restriction on healthcare expenses, requirement of remote monitoring, and increased need of patients care are propelling factor in the growth of these regions.
Noteworthy benefits related with electronic health records system and monetary incentives by governments of different nations are among the major driving factor for the development of electronic health records market, around the world. Advantages of electronic health records frameworks incorporate updated patient data, decreased healthcare cost in the long term cases, easy access to data related with the patient – may it be their medical history or their family details, diminished medicinal mistakes, expanded patient support and better effectiveness of healthcare providers. These points of interest urge healthcare suppliers to train themselves with technologically upgraded electronic health records solutions, which drive the market demand.
The rising prominence of e-medicine is one of the key reason driving the development of this market. Electronic remedy or eRX encourages the transformation of medicinal prescription into a digital format, which can be saved in EHR systems, without any inconvenience. E- Prescription lessens the pharmaceutical blunders and guarantee the wellbeing of the patients. Moreover, as e-solutions can be accessed to through cell phones utilizing mobile apps. Additionally, they help patients in looking for drug stores to buy the recommended medicines. The comfort related with e-medicines will prompt the growth of electronic health records market in coming years, real soon.
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The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their respective market shares. The recommendations section included in the report would assist existing market players in targeting all major stake holders of this industry such as companies, hospitals, emergency, assisted living facilities, home care providers government agencies and also to those aiming to seek an entry. The report also profiles major players in the global EHR market based on various attributes such as company details, business overview, details of EHR business, financial details, business strategies and recent developments.
Additional information such as vital components of EHR, hosting platforms, application areas of EHR, and legal requirements are covered in the market overview chapter which provide every minute details to assist new and existing players to venture and explore latent market opportunities in forthcoming years. The report also featured a detailed list of major revenue contributing EHR products, their certification, and manufacturer details to depict competition in the market.
Based on installation type, global electronic health records market are segmented into web based, client server based and software-as-a-service. Based on end user, the electronic health records market are segmented into hospital, physician office, ambulatory surgical centers and others.
Based on geography, the electronic health records market is segmented into North America, Europe, Asia Pacific, Latin America, and rest of world. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Spain, Italy, Russia, rest of Europe, India, China, Japan, Australia and New Zealand, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Russia, Saudi Arabia, South Africa and rest of world
Key players profiled in the electronic health record market study encompasses Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Cerner Corporation, CPSI, Epic Systems, eClinicalWorks, GE Healthcare, Greenway Health, LLC, Medical Information Technology, Inc., McKesson Corporation, NextGen Healthcare and 4medica.
The electronic health records market has been segmented as follows:
- Global Electronic Health Records Market, by Installation
- Web Based
- Client Server Based
- Software as Services
- Global Electronic Health Records Market, by End User
- Physician Office
- Ambulatory surgery centers
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