Market Research Report
Asia Pacific Electronic Health Record Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Installation Type ; Type ; End User
|Asia Pacific Electronic Health Record Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Installation Type ; Type ; End User|
Published: July 6, 2021
The Insight Partners
Content info: 126 Pages
Delivery time: 1-2 business days
The electronic health record (EHR) market in Asia Pacific is expected to grow from US$ 1,477.3 million in 2021 to US$ 2,245.1 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028. Health systems are experiencing growing consumer engagement worldwide. In developing countries, health systems are becoming more technologically friendly. These are experiencing an internationalization of care as established brands, as well as start-ups, are expanding their businesses. For instance, England-based start-up "Babylon", which has designed a primary care diagnostic app powered by machine learning and AI, entered into China and Rwanda markets. Moreover, with increasing investments in the Asia Pacific healthcare sector, IT start-ups offer lucrative opportunities for the market growth. For instance, in December 2020, DXY, a Chinese healthcare portal company, raised US$ 500 million in a Series E round led by Trustbridge Partners. Indonesian healthtech platform-Alodokter-raised US$ 33 million Series C funding. Growing healthcare IT industry in Asia Pacific is anticipated to provide lucrative opportunities for players to expand their capabilities in the region.
Also, COVID-19 has accelerated the use of digital health technologies globally. The pandemic has prioritized remote monitoring solutions. Governments in the region are promoting telemedicine, offering lucrative opportunities for the patient portal market in coming years. For instance, in March 2020, the Indian government issued the Telemedicine Practice Guidelines to enable registered medical practitioners to provide healthcare services using telecommunication and digital technologies.
The market for electronic health record (EHR) market is segmented into installation type, type, and end user. Based on installation type, the electronic health record (EHR) market is segmented cloud-based and on-premise. In 2020, cloud-based segment accounted for the largest share of the market. Cloud-based solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems. Cloud-based EHR offers flexibility and allows the user to access the data from any place. Also, developments by market players in this segment are likely to enhance the growth of the segment. For instance, in July 2020, Cerner launched a cloud-based EHR platform, CommunityWorks Foundations, which aims at reducing the costs of traditional EHR systems in rural and Critical Access Hospitals.
The origin of the COVID-19 pandemic is confirmed from China, and the outbreak has affected several countries across the world. Second medical opinion becomes a must as the Coronavirus outbreak grows and most countries face a complete lockdown. The outbreak of COVID-19 has caused a continuing global pandemic. Hospitals are integral to the control and prevention of COVID-19; however, they face numerous challenges during the epidemic. The ongoing healthcare crisis is rapidly being witnessed in smaller towns and villages where people are dying due to lack of oxygen, hospital beds and lifesaving drugs, similar to urban areas. As per the ministry health data hundreds of thousands of children have missed vital immunizations, and thousands of adults may have missed life-saving medical treatments due to the novel coronavirus epidemic spread and the lockdown. This is likely to have negative impact in the Asia Pacific countries.
The overall Asia Pacific electronic health record (EHR) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific electronic health record (EHR) market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific Electronic health record (EHR) market. Cerner Corporation; COMPUTER PROGRAMS AND SYSTEMS, INC.; Allscripts Healthcare Solutions, Inc.; McKesson Corporation; and Epic Systems Corporation are among a few players operating in the Asia Pacific Electronic health record (EHR) market.