Some other major factors contributing to the global market revenue growth are technological advances in EHRs, growing demand for cloud-based EMR solutions, increasing rate of hospital admissions, and rising prevalence of chronic and acute diseases worldwide.
Emergen Research has published its latest report titled “Electronic Health Records Market, By Product Type (Web/Cloud-based EHR software, On-premise EHR software), By Application (E-prescription, Practice management, Referral management, Patient management, Population health management, others), By End-use (Hospitals, Specialty clinics, Ambulatory care centers, Medical laboratories, Retail pharmacies, others), and By Region Forecast to 2028”
Market Dynamics:
Key factors driving the global electronic health records market revenue growth are rapid digitalization in the healthcare sector, increasing adoption of advanced healthcare IT solutions, growing need to streamline healthcare operations and improve patient experiences, and rapid adoption of electronic health record (EHR) systems in healthcare facilities including hospitals, clinics, and ambulatory care centers. Some other major factors contributing to the global market revenue growth are technological advances in EHRs, growing demand for cloud-based EMR solutions, increasing rate of hospital admissions, and rising prevalence of chronic and acute diseases worldwide. Electronic health records are a systematic collection of patient health data & information presented in a digital format.
EHR software and solutions make it easier for healthcare professionals to access, retrieve, or transfer medical data, and these solutions are extensively being used in healthcare facilities to enhance patient care, reduce the chances of medical errors, improve the accessibility of medical records, and, therefore, save time and resources. EHRs comprise patient information such as medical history, immunization status, allergies, medications, radiology images, vital signs, and personal statistics.
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Rapid development of healthcare infrastructure, rising adoption of advanced population health management programs & software, increasing patient pool during the COVID-19 pandemic and subsequent rise in demand for EHRs, and growing need for centralization of healthcare systems are the factors expected to further boost the global electronic health records market revenue growth.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Web/cloud based EHR Segment Accounted for Largest Revenue Share in 2020:
Based on product type, the global electronic health records market is segmented into web/Cloud-based EHR software and on-premise EHR software. The web/cloud based EHR segment dominated other segments in terms of largest revenue share in the global market in 2020. Rapid adoption of web/cloud-based EHR software due to several advantages is one of the key factors driving this segment’s revenue growth. Use of web/cloud-based EHR software helps healthcare practitioners avoid additional hardware installation and maintenance costs and prevent cash flow interruptions. Moreover, these systems are highly cost-effective and suitable for small-sized healthcare organizations.
Practice Management Segment to Register Fastest Revenue CAGR:
Based on application, the global electronic health records market is segmented into e-prescription, practice management, referral management, patient management, population health management, and others. The practice management segment is projected to register the fastest revenue CAGR in the global market over the forecast period. Increasing deployment of EHRs in practice management to streamline the workflow of healthcare facilities and enhance patient care is a key factor driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America electronic health records market accounted for the largest revenue share in the global market in 2020. Major factors supporting the North America market revenue growth are rapid adoption of EHRs in healthcare settings including hospitals, clinics, and diagnostic laboratories, emergence of next-generation healthcare IT solutions, and presence of state-of-the-art healthcare infrastructure and leading market players in the region, including Cerner Corporation, McKesson Corporation GE Healthcare, and Allscripts Healthcare, LLC.
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Major Companies in the Global Electronic Health Records Market Include:
- Cerner Corporation
- GE Healthcare
- Allscripts Healthcare, LLC
- McKesson Corporation
- Epic Systems Corporation
- NextGen Healthcare, Inc.
- eClinicalWorks
- Medical Information Technology, Inc.
- AdvancedMD, Inc.
- DXC Technology Company
- CureMD Healthcare
- Greenway Health, LLC
- Athenahealth, Inc.
- CPSI
- Epic Systems
For the purpose of this report, Emergen Research has segmented the global electronic health records market on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Web/Cloud-based EHR software
- On-premise EHR software
Application Outlook (Revenue, USD Billion; 2018-2028)
- E-prescription
- Practice management
- Referral management
- Patient management
- Population health management
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Specialty clinics
- Ambulatory care centers
- Medical laboratories
- Retail pharmacies
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
Reasons to buy the report:
- This study segments the Electronic Health Records market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Electronic Health Records sectors.
- This Electronic Health Records report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Electronic Health Records market.
Key features of the report:
- To study the key aspects impacting the Electronic Health Records market size.
- To identify growth prospects in the Electronic Health Records market.
- To analyze the Electronic Health Records market segments and deduce the dominant trends observed in the industry.
- To examine the Electronic Health Records market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Electronic Health Records market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Electronic Health Records Market Segmentation & Impact Analysis
4.1. Electronic Health Records Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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