The latest published report by Polaris Market Research. The global “Electronic Health Records Market Share, Size, Trends, Industry Analysis Report, By Product (Client Server-Based EHR, Web-Based EHR), By Type (Acute, Ambulatory, Post-Acute), By End-Use (Hospital, Ambulatory [Physician’s Clinic, Laboratories, Pharmacy]); By Regions; Segment Forecast, 2021 – 2028” report covers an exhaustive list of market tables and figures, thus providing in-depth analytical data for segments across different regions.
Market Analysis :
The global electronic health records (EMR) market is estimated to cross $42.47 Billion By 2028 according to a new study conducted by Polaris Market Research. The market is anticipated to register a CAGR of 5.1% From 2021 – 2028. An increasing number of hospitals adopting EMR solutions, government push to utilize EMR solutions, and the rising need to reduce escalating healthcare costs are among the key factors driving growth for the market. Increasing patient volume amid COVID-19 is one the major factor contributed to the surge in the market growth. Increasing demand to streamline healthcare administration and a rise in product adoptions worldwide due to growing digitalization fuels the market growth. Rising investments for improving healthcare facilities are predicted to create growth avenues for market players during the forecast period.
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Key Highlights of Electronic Health Records Market
- Based on product type, the web-based EHR segment contributed the largest share in the market and is projected to expand further at a rapid rate during the forecast period. The increasing popularity of web-based EHRs among healthcare providers and physicians helping the segment to grow substantially.
- By type insights, the post-acute EHRs segment led the market, and is expected that it will follow the same trend over the forecast period. A rise in the spending on post-acute care facilities that include inpatient rehabilitation centers and home health agencies propels exponential growth of the segment
- In terms of end-use, the hospital has emerged as the fastest-growing segment on account of its increased preference over ambulatory care centers. Lesser cost is required during the installation of EHRs in hospitals, which drives demand for this segment.
A survey carried out in 2019, by the Kaiser Family Foundation, the U.S. based non-for-profit organization supporting medical advocacy found that more than 45 percent of the U.S. citizens thought electronic health records have enabled quality of medical services. Moreover, survey by the Stanford University found that around 59 percent of the systems need complete makeover.
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Regional Trends and Developments:
North America dominated the global market for electronic health records and is predicted to grow in the same manner during the forecast period. The key factors contributing to the regional market growth include the availability of advanced infrastructure and favorable regulatory policies that encourages the adoption of electronic health records. In the Asia Pacific, the market is anticipated to register rapid growth owing to rising demand for quality services and standards in the healthcare industry. In addition to this, increasing government support in terms of funding to improve the healthcare facilities are also helping the regional players to stay financially stable and offer more innovative services in the field.
Some of the key players dominating the global electronic health records market include CureMD Healthcare, AdvancedMD, Inc., Cerner Corp., Greenway Health, LLC, Epic Systems Corp., DXC Technology Company, Allscripts Healthcare, Medical Information Technology, Inc., McKesson Corporation, and eClinicalWorks, LLC. Regional expansion activities, partnerships, product approvals, and product launches are the key strategic moves helping players stay relevant in the highly competitive market. Companies are aggressively working on the development of remote services to monitor patients amid the COVID era.
- Supply-side: IT-Based Medical Companies
- Demand Side: Hospitals, Clinics, Laboratories
- Regulatory Side: World Health Organization
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Polaris Market Research has segmented the electronic health records market report on the basis of product, type, end-use, and region:
Electronic Health Records, Product Outlook (Revenue – USD Million, 2016 – 2028)
- Client Server-Based EHR
- Web-Based EHR
Electronic Health Records, Type Outlook (Revenue – USD Million, 2016 – 2028)
Electronic Health Records, End-Use Outlook (Revenue – USD Million, 2016 – 2028)
- Hospital Use
- Ambulatory Use
- Physician’s Clinic
Electronic Health Records, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Key Players of Electronic Health Records Market
- Cerner Corp.
- Allscripts Healthcare, LLC
- McKesson Corporation
- NextGen Healthcare
- Medical Information Technology, Inc.
- CureMD Healthcare
- Greenway Health, LLC
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About Polaris Market Research
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