EHR-EMR Market expected to reach USD 42,427.27 Million By 2027 at CAGR of 5.82%
Research Reports
Mar 21, 2022
Due to its schematized grouping of patients’ electronically-stored health information in a digital presentation format, EHR/EMR is widely employed. EHR-EMR Market is anticipated to list a CAGR of 5.82% and consequently gain USD 42,427.27 Million in revenues by 2027.
The EMR-EHR market revenues are projected to grow during the forecast period driven by an increase in EHR adoption in various hospitals due to modernization efforts. The global EHR-EMR market is expected to be transformed by the rising use of EHR-EMR in the APAC region due to greater access to funding.
Segmental Analysis
The segmental study of the EHR-EMR market is carried out on the basis of component, application, mode of delivery, end user, and region. The application segment of the EHR-EMR market consists of general application and specialty-based. The mode of delivery segment of the EHR-EMR market consists of onsite and cloud-based. The end user segment of the EHR-EMR market consists of hospitals and clinics, and ambulatory care centers. The component segment of the EHR-EMR market consists of software and hardware.
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Detailed Regional Analysis
The regional overview of the EHR-EMR market is conducted based on Europe, America, Asia Pacific, Africa, and the Middle East. The North American regional market governs the EHR-EMR market in North America. It accounted for a significant market share due to the region’s important actors and technologically superior healthcare infrastructure. The region is expected to see widespread use of electronic health records (EHRs) and electronic medical records (EMRs) (EMR). Europe is the EHR second-largest EMR’s market. Market growth is aided by the increased prevalence of chronic diseases and expanding government support for electronic health records (EHR)/electronic medical records (EMR). Throughout the projection period, Asia-Pacific is anticipated to witness a peak CAGR of 6.77 percent. The Asia-Pacific region’s dominance originates mainly from a growing awareness of electronic health record systems and their increasing importance and accommodating federal programs and laws.
Competitive Analysis
The need to establish a quick and profitable management strategy is predicted to impact the market in the near future. In the subsequent years, the requirement to ameliorate losses incurred by the current public health crisis is projected to be the exclusive focus of market applications. In particular, there will be a need to provide a helping hand to enterprises in the approaching phase. The market’s conflict between demand and supply is investigated to generate a measured development framework. In the coming future, competitors’ potential to stimulate market transformation will proceed to grow at a steady rate. Since the market requires an additional drive to achieve consistency in such a situation, cooperation from administrative authorities and governments is increasing. The focus on transformation is forecast to expand in the following years, as user expectations must be addressed more effectively to recover the global market.
The central players in the EHR-EMR market are Allscripts Healthcare Solutions (US), Advanced Data Systems Corporation (US), Athenahealth, Inc. (US), GE Healthcare (US), AdvancedMD (US), eClinicalWorks (US), and Cerner Corporation (US).
Industry Updates:
Nov 2021 To improve care coordination, a federally qualified health center (FQHC) in Kentucky is using an EHR from eClinicalworks. Every year, Family Health Centers Inc. (FHC) serves 43,000 patients regardless of their health insurance status or financial ability to pay. FHC will be able to manage patient medical, dental, and behavioral information from a single source across eight facilities in the Louisville metro area due to the EHR deployment.
Oct 2021 To improve clinical decision support, Somo Medical Center in Palm Beach County, Florida, has initiated a cloud-based EHR rollout from health IT vendor eClinicalWorks (CDS). The HITRUST-certified cloud infrastructure of the health IT vendor will give physicians secure access to integrated patient health data and support ongoing security and data privacy enhancements without the hassles of data backup and server upgrades
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