The Global EHR Market generated is expected to reach $33.29 billion by 2023, growing at a CAGR of 5.0% from 2017 to 2023. The research is a valuable source of guidance for key market players, new entrants, and investors to determine current scenario and devise strategies based on estimations for the future.
The research offers insights on drivers, restraints, and opportunities of the global electronic health records market. Rise in utilization of cloud based EHR software, increase in geriatric population, and significant surge in number of chronic diseases drive the growth in the market. However, high costs related to EHRs and rise in concerns related to patient data and safety limit the market growth. On the other hand, untapped potential in developing economies create new opportunities in the industry.
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The report offers a detailed segmentation of the global EHR market into product, type, application, end user, and region. Based on product, the research bifurcates the market into cloud-based software and server-based/on-premise software. Among these, server-based software accounted for more than half of the total market share in 2017 and is expected to dominate throughout the forecast period. The type segment is classified into inpatient EHR and ambulatory EHR. The inpatient EHR segment held the major market share in 2017 and will maintain its leadership position throughout the forecast period, owing to its characteristic of maintaining data consistency and efficient sharing.
Based on application, the report segments the market into clinical application, healthcare financing, reporting in healthcare system, administrative application, and clinical research application. Among these segments, the clinical application segment held nearly one-third of the total market share in 2017 and will maintain its lead by 2023. End users analyzed in the research include hospitals, specialty centers, clinics, and other medical settings. Based on region, the market is explored across North America, Europe, Asia-Pacific, and LAMEA. North America contributed to nearly half of the market in 2017 and is estimated to maintain its dominance throughout the forecast period. This is due to rise in adoption of information technology in the healthcare sector, surge in baby boomer population, and rise in demand for better healthcare.
Leading market players analyzed in the research include AdvancedMD, Inc., Cerner Corporation, Allscripts Healthcare Solutions, Inc., CureMD Corporation, Computer Programs and Systems, Inc., Epic Systems Corporation, eClinicalWorks, Greenway Health, LLC, General Electric Company, and Quality Systems, Inc. They have implemented different strategies including expansion, partnership, merger & acquisition, new product launch, collaborations, and joint venture to gain a strong position in the global market.
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