According to the latest report published by Variant Market Research, the global Electronics Health Records market is estimated to reach $40 Billion by 2024 from $23.5 Billion in 2016, growing at a CAGR of 6.9% from 2016 to 2024.
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Growing need to maximize patient’s safety drives the global electronics health records market
The global electronics health records market is primarily driven by growing need to maximize patient’s safety, and rising adoption of big data. Additionally, government & insurance companies encouraging the implementation of EHR, and need for digitalization & centralization in the healthcare sector has also supported the market growth. However, aspects such as lack of technical knowledge, high initial cost, and interoperability concerns may act as the major hindrances for the market. Moreover, growing public & private investments, and market expansion is expected to provide new growth opportunities for the market in the given forecast period.
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Delivery mode, end user, and geography are the major segments considered in the global electronics health records market. On the basis of delivery type, the segment is divided into client server based, and web/cloud based server. End user segment is further bifurcated into ambulatory, and hospital. North America, Europe, Asia Pacific, and Rest of the World (RoW) are the major segments considered in the global electronic health records market.North America is further categorized in U.S., Mexico,and Canada whereas Europe consists of Germany, France, UK, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, and Rest of Asia-Pacific, while RoW is segregated into Middle East,South America, and Africa.
Web based/cloud based server held for the highest market share in delivery mode segment
In 2016, web based/cloud based server accounted for the majority market share, and is expected to continue this trend during the forecast period i.e. 2016–2024. The high growth is attributed due to its advantages such as cost effective development, accessible anywhere, improved interoperability, increased security, and easier installation and maintenance.
Hospital accounted for the major market share in end user segment
Hospital dominated the major market share in 2016, while ambulatory is expected to attain the fastest CAGR during the forecast period2016–2024.
North America occupied the biggest market share in the global EHR market
North America generated the largest revenue accounting for 45.7% of the total market share, followed by Europe with 26.1%, in 2016. Besides, in terms of growth, Asia-Pacific is probable to achieve the fastest CAGR throughout the forecast period, owing to, high acceptance of advanced technologies, and expanding healthcare infrastructure.
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Key players profiled in the market include GE Healthcare, Athenahealth, Inc.,McKesson Corporation,Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Medical Information Technology, Inc., AdvancedMD, Inc., NextGenHealthcare, Cerner Corporation, and Greenway Health, LLC, among others.
Scope of Electronic Health Records Market
Delivery Mode Segments
- Client Server Based
- Web Based/ Cloud Based Server
End User Segments
- North America
- Asia Pacific
- South America
- Middle East
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