Electronic medical record systems are defined as healthcare information tools that captures and records patient data gathered from various authorized clinicians’ office under one healthcare organization. These systems enhances workflow efficacy and improves the quality of patient care. Whereas it also provides access to physicians regarding patient information such as lab results, diagnosis and medication. The EMR system is gaining high traction among healthcare service providers, mainly due to its operational efficiencies and the rising need for integrated healthcare facilities worldwide. Over the years, there has been a surge in the need to connect laboratories to hospitals and clinics, and hospitals or clinics to pharmaceutical centers. This has led to the rise in emphasis on product innovation. Thus, increasing number of players are entering the EMR market with varied service offerings.
The global electronic medical record market is estimated to account for US$ 11,417.5 Mn by the end of 2015, and is projected to witness a significant increase in its market value due to rising demand for EMR systems from the concerned end-use segments.
Drivers and Trends
Rise in number of diseases and increasing demand for quality care by the patients is paving the way for the overall growth of the electronic medical record technology globally. Advent of integrated healthcare services delivery platform with the help of EMR technology has led to the wide popularity of EMR software among hospitals and clinics. Rise in the number of hospitals and clinics is also expected to boost the overall demand for electronic medical record technology globally.
Request For Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-387
Currently, electronic medical record technology is widely used in North America due to the various supporting initiatives taken by the government in the region through The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region. Also, there is an incentive plan for the hospitals and clinics in the U.S. for facilitating the ‘meaningful use’ of EMR technology.
The EMR market is expected to expand at a significant CAGR in the regions such as Western Europe and Asia Pacific over the forecast period. Also, the EMR industry is consolidating, as the players in the electronic medical record industry are getting into partnerships, mergers and acquisitions, well-planned distribution strategies to capitalize over the opportunities present in the untapped markets in Latin America and Eastern Europe. Though this market is growing at a significant rate, the high cost of EMR software and implementation services, coupled with the negative perception about the electronic medical record technology, is proving to be a major hindrance in the overall growth of the market.
Analysis by Region
Globally, North America is expected to hold market dominance throughout the forecast period and is projected to expand at a CAGR of 5.5% over the forecast period. The U.S is expected to dominate the North America electronic medical record market throughout the forecast period in view of the supporting government policies imposed in accordance with the American Reinvestment & Recovery Act (ARRA). The North America EMR market is followed by the Western Europe market as more number of players are expected to enter into the North America market over the forecasted period. Asia Pacific is expected to be the next lucrative market for EMR companies, as the market in this region is projected to witness an above average CAGR of 6.2% in terms of value during the forecast period.
Analysis by Product
The global electronic medical record market is segmented into hospital and ambulatory EMR. Among these products, it is estimated that, presently, the hospital EMR segment accounts for a major share of the global market, whereas the ambulatory EMR segment is expected to witness an impressive growth during the forecast period.
Analysis by Deployment
By deployment, the electronic medical record market is segmented into client server setups, cloud-based server setups and hybrid server setups. The cloud based segment is expected to dominate the overall electronic medical record market by the end of forecast period, i.e. by 2025. The client server setups segment is projected to register an average growth rate over the forecast period. Meanwhile, the cloud server setups segment is projected to register the fastest CAGR over the forecast period in terms of value, this is attributed to optimum cost and ease of installation of the software in clinical setups.
Analysis by End-use
Based on end user, the market has been segmented into hospitals, specialized clinics, general physician clinics and ambulatory surgical centers. In terms of value, the clinical segment is estimated to account for 27.2% share of the global market by 2025 end, whereas hospitals is expected to remain the most dominant segment in the overall market over the forecast period.
Market Segmentation, by Component
On the basis of components, the market has been segmented into software and services. The services segment is expected to emerge as the most lucrative components segment in the global electronic medical record market over the forecast period. The services segment is currently the most attractive segment in terms of revenue in the market, and is estimated to account for over 60.12% market share by 2015 end. However, market acceptance of new software products and rise in product enhancements and modifications is expected to drive the advent of innovative EMR systems over the forecast period.
Send an Enquiry @ http://www.futuremarketinsights.com/askus/rep-gb-387
Some of the key players identified in the global electronic medical record market report include Cerner Corp, McKesson Corporation, Medical Information Technology Inc., Epic Systems Corporation, NextGen Healthcare Information Systems, LLC, Greenway Health, LLC and GE Healthcare. The report is enriched through the identification of company-specific strategies related to software development, market consolidation initiatives and analyses of the various market players’ specific strengths, weaknesses, opportunities and threats.