Market Research Report
Electronic Health Records Market Size By Product, By Application, By End-Use Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
|Published by||Global Market Insights Inc.||Product code||836126|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Electronic Health Records Market Size By Product, By Application, By End-Use Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025|
|Published: March 24, 2019||Content info: 150 Pages||
Electronic Health Records Market Size By Product (Web/Cloud Based EHR Software, On-premise EHR Software), By Application (E-prescription, Practice Management, Referral Management, Patient Management, Population Health Management), By End-Use (Hospitals, Specialty Centres, Clinics, Ambulatory Surgical Centres) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025.
Electronic Health Record Market will reach over USD 38.3 billion by 2025; as per a new research report.
Growing investment and funding for electronic health records along with increasing support for research from health information exchange organization (HIO) will spur electronic health record (HER) industry growth. Increasing number of healthcare providers and Health Information Exchange Organizations (HIEs) are assisting the adoption of EHRs including some other healthcare IT solutions. Furthermore, worldwide recognition of the importance to implement HER to streamline and improve workflow will offer attractive market growth opportunity in the coming years.
Presence of national strategies to implement HER should stimulate electronic health record business growth. Many countries are moving ahead from local to national implementation of electronic health records to enhance patient care. The adoption of HER in majority of U.S. states significantly rose since the implementation of federal regulations to deploy such technology across healthcare facilities. Thus, such programs and policies will accelerate HER adoption rate over the coming years.
However, high investment in installation of HER may hamper electronic health record industry growth over the projected timeframe.
Cloud/web based electronic health record segment held major revenue share of over 48% in 2018. Cloud-based HER offers on-demand access to information technology services. Such systems reduce hardware costs and maintenance costs. Thus, superior benefits and shifting paradigm from on-premise HER to web-based EHRs, will spur the segmental growth in the foreseeable future.
Practice management application segment is estimated to grow at 5.5% CAGR during the forecast period. Practice management offers the physician to overlook appointments, revenue cycle and other features in on place. Automation of physicians functions through digital platforms, offering high convenience will serve to be a high segmental growth impacting factor over the coming period.
Specialty centers end-use segment was valued at USD 3.6 billion in 2018. Many companies are involved in the development of distinct HER platforms for specialty centers. Such EHRs meet the differentiated and critical needs of specialty centres. Thus, development and launch of enhanced electronic health records will assist specialty centers electronic health record end-use segment growth.
Canada electronic health record market accounted for over USD 1,144.0 million in 2018. Implementation of pan-Canadian HER initiative will augment the adoption of electronic health record in the country. Also, increasing investment and expenditure on healthcare information technology will play a pivotal role in boosting Canadian electronic health record industry growth.
Australia electronic health record market is forecasted to grow with more than 8.5% CAGR throughout the projected timeframe. Australian healthcare system is witnessing increasing collaborations among healthcare facilities and government bodies for adoption of HER. For instance, in February 2018, the largest pathology laboratories of Australia signed collaborative agreement with Australian Digital Health Agency to join for the national electronic health record program. Such initiatives will aid in the expansion of Australian electronic health record (HER) industry.
Few notable players operating in global electronic health record market are Epic, Cerner, eClinicalWorks, Allscripts Healthcare Solutions, Inc. and NextGen Healthcare. Major players are undertaking strategic decisions such as partnerships and product differentiation to earn profits in the HER industry.