PUBLISHER: Grand View Research | PRODUCT CODE: 1301207
PUBLISHER: Grand View Research | PRODUCT CODE: 1301207
The global OBGYN EHR market size is expected to reach USD 3.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 9.50% from 2023 to 2030. The market growth can be attributed to the increasing adoption of electronic health records (EHRs) among gynecologists, increasing demand for EHR for data integration, and new product launches. OBGYN EHR can help gynecologists and obstetricians manage workflow, billing, e-prescribing, clinical documentation, practice management, and secure data transfer. In July 2019, WRS Health announced the launch of ObGyn-Cloud, an electronic health record to help obstetricians and gynecologists optimize their workflow profitably and efficiently.
This is propelling the market growth. The governments of many countries are undertaking various initiatives for the deployment of EHR across various specialties. For instance, under The Health Information Technology for Economic and Clinical Health (HITECH) Act, financial incentives are provided for the meaningful implementation of EHR in the U.S. In June 2022, NHS announced its plans to invest USD 2.4 billion in implementing electronic health records in all community practices and hospitals in the UK.
Thus, strong support from the government is anticipated to drive the market growth. Furthermore, a shift towards value-based care and steps to reduce overall healthcare care are boosting market growth. The COVID-19 pandemic has had a significant impact on the market. As a result of the pandemic, new business bookings, such as client software purchases and projects, were canceled or delayed, which negatively impacted the revenue of key providers. Furthermore, many hospitals suffered revenue losses due to low patient volume, which decreased their investment in digital health technologies.