According to Emergen Research, the global wireless electronic health records market size was USD 24.16 Billion in 2020 and is expected to reach USD 91.72 Billion in 2028 and register a revenue CAGR of 18.2% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Wireless Electronic Health Records Market, By Type (Wireless Electronic Health Records Software, Wireless Electronic Health Records Devices), By Application (Administration, Pharmacy, Clinical, Radiology, Nursing, Laboratory), By End-use (Hospitals, Long-term Care Facilities, Physician Offices, Others), By Specialty (Neurology, Cardiology, Urology, Orthopedic, Pediatrics, Ophthalmology, Oncology, General Surgery, Obstetrics and Gynecology, Others), By Mobile Technology (Commercial Cellular, Wireless LANs, Bluetooth, Radio Frequency Identification (RFID), Satellites, Zigbee, WiMAX, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global wireless electronic health records market size was USD 24.16 Billion in 2020 and is expected to reach USD 91.72 Billion in 2028 and register a revenue CAGR of 18.2% during the forecast period, 2021-2028.
Market Dynamics:
Major factors driving the global wireless electronic health records market revenue growth are increasing use of advanced technologies and solutions to streamline and automate the storage and tracking of critical patient data & information, and rising awareness of the advantages associated with electronic health records (EHRs) such as improved patient care quality, minimized healthcare expenditure, reduced medical errors, and availability of accurate data.
Rapid adoption of wireless electronic health record systems in hospitals, clinics, and physician offices, growing demand for advanced remote healthcare services – especially among patients living in rural areas with mobility limitations – rapid adoption of IoT-connected devices in healthcare settings, and increasing investments by government and private bodies in healthcare infrastructure development are some of the other major factors expected to drive revenue growth of the market in near future. The global market revenue growth, however, is hampered to some extent due to factors such as rising concerns about privacy and security of patient data and high maintenance costs of wireless electronic health record systems.
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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
Wireless Electronic Health Record Devices Segment Accounted for Largest Revenue Share in 2020:
Based on type, the global wireless electronic health records market is segmented into wireless electronic health record software and wireless electronic health record devices. The wireless electronic health record devices segment held the largest revenue share in the global market in 2020. Increasing demand for mobile-based electronic health record technologies & solutions, including blood glucose meters, pulse oximetry, blood pressure monitors, stress monitoring, and pediatric growth trackers, and rising preference for remote patient monitoring and information tracking systems to prevent exacerbations of chronic illnesses are key factors boosting revenue growth of this segment.
Hospitals & Clinics Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global wireless electronic health records market is segmented into hospitals & clinics, long-term care facilities, physician offices, and others. The hospitals & clinics segment is projected to register the fastest revenue growth rate in the global market over the forecast period, owing to factors such as rising need for efficient patient data management and rapid deployment of wireless electronic health record devices in healthcare facilities including hospitals & clinics to improve patient outcomes, reduce potential medical errors, and lower hospital costs.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America wireless electronic health records market accounted for largest revenue share in the global market in 2020. Presence of state-of-the-art healthcare infrastructure, high digital literacy among healthcare professionals, growing deployment of electronic health record systems in hospitals & clinics and long-term care facilities, and increasing government investments in healthcare infrastructure development are key drivers for the North America market revenue growth. Presence of leading market players in the region, such as General Electric Company, Abbott Laboratories, Honeywell International Inc., Allscripts Healthcare Solutions, Inc., and Oracle Corporation, further drives the regional market growth.
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Major Companies in the Global Wireless Electronic Health Records Market Include:
- Abbott Laboratories
- Drägerwerk AG
- General Electric Company
- Honeywell International Inc.
- Medtronic plc
- Oracle Corporation
- Siemens AG
- Allscripts Healthcare Solutions, Inc.
- AMD Global Telemedicine, Inc.
- Carematix Inc.
For the purpose of this report, Emergen Research has segmented the global wireless electronic health records market on the basis of type, application, end-use, specialty, mobile technology, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Wireless Electronic Health Records Software
- Wireless Electronic Health Records Devices
Application Outlook (Revenue, USD Billion; 2018–2028)
- Administration
- Pharmacy
- Clinical
- Radiology
- Nursing
- Laboratory
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Long-term Care Facilities
- Physician Offices
- Others
Specialty Outlook (Revenue, USD Billion; 2018–2028)
- Neurology
- Cardiology
- Urology
- Orthopedic
- Pediatrics
- Ophthalmology
- Oncology
- General Surgery
- Obstetrics and Gynecology
- Others
Mobile Technology Outlook (Revenue, USD Billion; 2018–2028)
- Commercial Cellular
- Wireless LANs
- Bluetooth
- Radio Frequency Identification (RFID)
- Satellites
- Zigbee
- WiMAX
- Others
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By Region (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
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