Global EHR-EMR Information, By Type (Emergency Care, Perioperative Care, Mobile Applications for Doctors and Nurse, others), By Mode of Delivery (On-Premise and Cloud Based) – Forecast to 2023
Electronic health record is a group and garage of patient facts electronically. This enables the healthcare provider to reap information from anywhere and offer emergency care every time needed. This revolution in healthcare it has introduced a superb exchange in healthcare management. Facts technology enables to maintain affected person records electronically that can be used as and while required. Cloud based or net-based totally fashions offer simplicity to exchange from servers to cloud that complements access to records and this is one of the motives why groups are shifting towards those deployment fashions.
The Global EHR-EMR market is expected to reach USD 120 billion in 2023 from its previous worth of USD 70 billion in 2016 by growing at the CAGR of approximately 10.9% during the forecast period 2017-2023.
EHR-EMR marketplace is growing due to a boom inside the range of patients getting admitted in hospitals, growing extent of scientific facts, and replacement of paper statistics by digital records, clean healthcare transport and preserving quality of health-facts. This improvements in healthcare it also favors the growth of the EHR-EMR market. However, excessive cost of software answers can also act a restrain to this market’s growth.
The adoption of cloud computing in healthcare is possibly to growth due to the rising necessity to lessen healthcare costs and value-efficiency of cloud era. Moreover, growing number of healthcare agency and growing healthcare expenditure gas the increase of the marketplace.
As the market seems to be attractive, growing and profitable, at the same time market has witnessed intense rivalry among existing competitors. Many new entrants expected to enter into EHR-EMR Market. There are many big players in the EHR-EMR Market such as: Epic Systems Corporation (U.S), Cerner Corporation (U.S), Meditech, Allscripts (U.S), QSI Management, LLC (U.S), General Electric Company (U.S), eClinicalWorks (U.S), McKesson Corporation (U.S) and Greenway Health, LLC (U.S)
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Globally, EHR-EMR market consists of four regions namely Americas, Europe, Asia Pacific and Middle East & Africa. America is the largest market. Increasing importance of EHR-EMR, concentration of major market players and increase in number of services in specialty & super specialty hospitals boosts the growth of this market in North America.
According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in the U.S. hospitals from 2013 to 2015. Furthermore, the use of Decision Support System is found of to be increasing among tertiary care centers in the U.S. In January, 2014, the U.S. Department of Health and Human Services (HHS) Secretary and the U.K. Secretary of State for Health signed a bi-lateral agreement for the use and sharing of health IT information and tools.
Europe is the second largest market owing to extensive use of healthcare IT for patient engagement and administration. Increasing adoption of healthcare management softwares, use of clinical practice management software and availability of funds for research and development activities in healthcare IT also fuel the growth of the market.
The Asia Pacific is the fastest growing market whose growth is attributed to the growing emphasis of medical records to be presented as an evidence in the court of law. Adoption information technology by healthcare providers, importance of electronic medical records and demand of software solutions for medical billing and scheduling accelerate the growth of the market. Furthermore, demand outreaching supply will create growth opportunity for the market in Asia Pacific and major market players should focus on emerging markets such as China, and India.
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The market shows steady but positive growth in Middle East & Africa, owing to an increasing demand of software solutions in hospitals.
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