EHR-EMR Market Overview:
The global EHR-EMR market has been predicted to surpass USD 42,427.27 million by 2027, with a CAGR of 5.82% during the forecast period of 2019 to 2027. Market Research Future (MRFR) claims that factors like the impact of COVID-19, better technological assistance, digitalization of several procedures, improvement in infrastructure, government initiatives, demand for simplifying access of patient records, and others are expected to ensure better growth for the market. EHR-EMR facilities have made the process of accessing health records simpler by issuing a single gateway.
However, the initial price of installing such a process can deter market growth by some margin.
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COVID-19 Impact Analysis:
The recent COVID-19 outbreak has inspired several changes in the treatment procedures. People have been asked to maintain social distance by various governments and this has lessened the number of people actually visiting a doctor or a hospital for treatment. In a way, it has spurred the inclusion of telemedicine. This is also a result of doctors trying to reduce contact possibilities. To make this process effective, hospitals are now ramping up their efforts of including EHR-EMR facilities as it will help in keeping track of their patients and their health records. Various healthcare IT providers are offering their assistance in building a proper setup to facilitate this shift.
Given the debilitating Impact of COVID-19 (Coronavirus) on EHR-EMR Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
EHR-EMR Market Segmentation:
The global market for EHR-EMR has been segmented by MRFR analysts into component, application, mode of delivery, and end user. It relies heavily on data gleaned from these segments to provide better strategic opportunities to increase profit margin.
By component, the global study containing details of the EHR-EMR market has been segmented into services & consulting software, and hardware. The software segment is showing the possibilities of evolving with the fastest speed during the forecast period. This plays a crucial role in making a proper assessment of the patient and his diagnostic time.
By application, the global study centers around segments like specialty-based and general applications. The specialty-based segment has the chance to evolve as the fastest-growing segment during the forecast period. The specialty-based segment includes cardiology, radiology, oncology, neurology, and others. The cardiology segment was the leading one in 2016.
By mode of delivery, the global report on the EHR-EMR market comprises on-premises and cloud-based. The on-premises segment covers almost 55% of the total market valuation.
By end user, the global market discussion on the EHR-EMR market consists segments like hospitals & clinics, ambulatory care, and diagnostic centers. The hospitals & clinics segments are getting traction for their infrastructural scope and advantages regarding investment.
EHR-EMR Market Regional Analysis:
Better infrastructure, funding assistance, and increased digitalization would keep North America at the forefront. Countries like the US and Canada are going to contribute notably. In Europe, the market will gain prominence in countries like Germany, France, Italy, the UK, Russia, and others as their infrastructural advancement boosts market results.
EHR-EMR Market Competitive Analysis:
The global market for EHR-EMR is all set to benefit from the tactical improvements launched by companies like Cerner Corporation (US), GE Healthcare (US), Allscripts Healthcare Solutions (US), Athenahealth, Inc. (US), Advanced Data Systems Corporation (US), eClinicalWorks (US), AdvancedMD (US), and others. These companies are implementing changes of diverse sorts that span across mergers, collaborations, acquisitions, and others. It also includes various other methods like spurring the investment opportunities in the research sector, improving the chances of innovation, better launching, branding, and other marketing strategies. MRFR recorded all these latest moves to inspire a better study of the market that can impact the market outcome.
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