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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.The past few years have witnessed digitalization in almost all industries and healthcare is not an exception. EHR-EMR refer to a systematic collection of medical records stored in a digital format.
EHR-EMR typically include information such as medical history, medications and allergies, radiology images, patient demographics, billing information, and others. Market Research Future (MRFR) anticipates the growth of the global EHR-EMR market to grow manifold and reach a significant valuation over the forecast period of 2017-2023.
The massive increase in the volume of medical records is a preliminary factor boosting the growth of the global EHR-EMR market. Colossal amounts of medical data are generated per day which requires proper management. Implementation of EHR EMR facilitates improved accessibility, data aggregation, and integration.
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The application of healthcare IT has resulted in a parallel adoption of EHR-EMR. Besides, government initiatives provide a developmental background for the growth of the market.
Clinical benefits associated with EHR-EMR also raise adoption and consequently boost market growth. Implementation of EHR-EMR lowers staffing requirement, and subsequently, reduce healthcare costs and minimize human errors.
Advances in EHR-EMR technology such as blockchain, open source also add fuel to the growth of the global EHR-EMR market. Adoption of cloud computing which allows small healthcare providers, who cannot make up-front investments opt for free and web-based services has spurred the adoption of EHR-EMR.
Industry Trend:
Ochsner Health System and Bon Secours Mercy Health are large health systems that are planning on customizing EHR-EMR to gain the most by managing opioid addiction of patients. Opioid addiction is raising quite a few eyebrows where this new method can help substantially.
EHR coordination is becoming a challenge as different hospitals are using different software. To counter that Redivus is developing one for Saint Luke to make it easier for all to comprehend the situation and come to the same page before taking decisions.
Key Players for Global EHR-EMR Market
Age-old tactics such as mergers, acquisitions, collaborations, and others are proving effective. New product launch and innovative tactical moves are also having great impact on the regional market expansion. For instance, Netsmart, in 2018, bought Change Healthcare’s home health IT solutions and cloud-based software company HomeCare Accounting Solutions (HAS). Allscripts also acquired McKesson’s hospital and health system IT business, Enterprise Information Solutions, which can take the market forward.
Athenahealth, Inc., 4medica, McKesson Corporation (U.S.), Healthcare Management Systems (U.S.), Cerner Corporation (U.S.), Eclinicalworks, LLC (U.S.), GE Healthcare (U.K.), Healthland (U.S.), NextGen Healthcare (U.S.), Allscripts (U.S.), Meditech (U.S.), Epic Systems Corporation (U.S.), Praxis EMR, Medical Information Technology, Inc., and CureMD Healthcare (U.S.) are some of the notable players in the global HER-EMR market.
Segments for Global EHR-EMR Market
The global EHR-EMR market has been segmented based on component type, application, mode of delivery, and end user.
By component type, the global EHR-EMR market has been segmented into hardware and software.
By application, the global EHR-EMR market has been segmented into specialty-based and general applications.
Type-wise segmentation of the global EHR-EMR market includes traditional, speech-enabled, interoperable, and others.
By mode of delivery, the global EHR-EMR market has been segmented into cloud-based, on-premise model, and hybrid.
By end user, the global EHR-EMR market has been segmented into hospitals & clinics, ambulatory care, hospital-owned, and diagnostic centers.
Regional Analysis for Global EHR-EMR Market
The Americas, Europe, Asia Pacific, and the Rest of the World (RoW) are the key markets for EHR-EMR. The Americas account for the largest share of the market owing to high adoption of EHR-EMR and favorable incentive programs in the region. The presence of major players such as Allscripts Healthcare Solutions, Inc, Cerner Corporation, GE Healthcare, EpicSystems Corporation, and their consequent product developments coupled with a technologically advanced healthcare infrastructure is another factor which cannot be missed.
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Europe follows the Americas closely and is driven by the growing prevalence of chronic diseases and high government support to modernize the healthcare sector. Germany is the largest market in Europe followed by France. An increasing number of EHR-EMR service providers and distributors along with growing demand for technologically advanced healthcare solutions help the Europe market grow.
APAC is poised to record the fastest growth over the forecast period. The market growth in APAC is influenced by the rise in geriatric population and large-scale use of healthcare IT. High government support coupled with the growing realization of the importance of digitization has resulted in rapid adoption of EHR EMR in the region. In addition, to capitalize on the growth opportunities offered by the developing countries in the region, various pharmaceutical companies are undertaking strategic initiatives which further intensify the growth in APAC.
Brief TOC
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global EHR-EMR Market, By Type
Chapter 7. Global EHR-EMR Market,By Mode Of Delivery
Chapter 8. Global EHR-EMR Market, By Region
Chapter 9. Competitive Landscape
Chapter 10. Company Profile
Chapter 11. Conclusion
Chapter 12. Appendix
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