Electronic Health Records Market size is set to grow by USD 32.27 bn from 2023-2027, benefits of EHR leading to rise in adoption boost the market- Technavio

NEW YORK, March 11, 2024 /PRNewswire/ -- The global electronic health records market size is estimated to grow by USD 32.27 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 12.91% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 41%. The Electronic Health Records (EHR) Market is experiencing significant growth due to the increasing demand from healthcare organizations for affordable and accessible healthcare services. EHR systems offer centralization of patient medical histories, streamlining workflows, and access to evidence-based tools for authorized providers. These benefits lead to increased efficiency and productivity in healthcare administration.

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Key Company

Electronic Health Records Market is fragmented ; the vendors are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Electronic Health Records Market report includes information on the product launches, sustainability, and prospects of leading vendors including Allscripts Healthcare Solutions Inc., CareCloud Inc., Computer Programs and Systems Inc., CureMD.com Inc., Dedalus Group, eClinicalWorks LLC, Epic Systems Corp., EverCommerce Inc., General Electric Co., Global Payments Inc., Greenway Health LLC, KareXpert Technologies Pvt. Ltd., McKesson Corp., MEDHOST, Medical Information Technology Inc., Oracle Corp., Siemens AG, Tebra Technologies Inc., Athenahealth Inc., Dell Technologies Inc.

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Market Segmentation by Deployment

In the Electronic Health Records (EHR) market, hospitals, ambulatory care centers, and ambulatory surgical centers utilize both on-premises and cloud-based solutions. On-premises EHR systems, which run on an organization's native IT infrastructure, offer increased control and are typically licensed software options. These systems can be integrated with business management software like ERP but may involve challenges such as data duplication and customization expenses. On the other hand, cloud-based EHR solutions provide flexibility through subscriptions, professional services, managed services, and support & maintenance. Technology resale is also a business model for EHR systems.

Geographic Landscape

The North American Electronic Health Records (EHR) market is dominated by hospitals, ambulatory care, and ambulatory surgical centers. Business models include licensed software, technology resale, subscriptions, professional services, managed services, and support & maintenance. Market growth is driven by stringent regulatory norms and incentivizing policies. The US and Canada lead in EHR adoption, with advanced healthcare IT solutions. Regulatory frameworks are strict, ensuring data security and interoperability. Download Free Now

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio