Global Electronic Health Records (EHR) market is forecast to grow from an estimated $ 30 billion in 2020 to $ 40 billion by 2025
NEW YORK, May 27, 2020 /PRNewswire/ --
Global Electronic Health Records (EHR) Market, By Product (On-premise Based & Web/Cloud Based), By Component (Practice Management, Patient Management, E-Prescription, Referral Management, and Population Health Management), By End User (Hospitals, Specialty Centers, Clinics, and Ambulatory Surgical Centers), By Region, Competition, Forecast & Opportunities, 2025
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Global Electronic Health Records (EHR) market is forecast to grow from an estimated $ 30 billion in 2020 to $ 40 billion by 2025.Growth in the market is anticipated on account of rising demand for centralization and streamlining of electronic healthcare systems, technological advancements in the field of healthcare IT, and increasing awareness about the use and importance of EHR.
Moreover, increasing government funding and expenditure for the development of healthcare IT solution are promoting the adoption of electronic health records, globally.
Electronic health records market can be classified based on product, component, end user and region.In 2019, the global market was dominated by hospitals, holding about 45% of the market share.
Electronic Health Records have become an essential part of hospitals to maintain patient data owing to enhanced convenience and increased productivity.In terms of product, web/cloud based dominated the market in 2019 and the trend is likely to continue over the coming years as well due to extensive adoption of web based EHR systems.
These systems are also anticipated to witness brisk growth in the forecast period due to increasing implementation among clinics, pharmacies, small scaled laboratories and physicians as they can be installed without in-house servers.
In terms of region, North America was the largest market in the global EHR market, holding a share of more than 40% in 2019 and is expected to continue its dominance during the forecast period due to the large-scale adoption of the electronic health records by hospitals, clinics, and other healthcare facilities in the region. Additionally, presence of major companies, continuous progress in healthcare settings and expansion of healthcare IT infrastructure are also driving the electronic health record market in North America.
Epic Systems, Allscripts Healthcare Solutions Inc., Cerner Corporation, eClinicalWorks and NextGen Healthcare Inc., Medical Information Technology, Inc. (Meditech), Computer Programs and Systems, Inc (CPSI), Athenahealth, MedHost, Greenway Health, 3M Company, Hyland Software, and Henry Schein are among the leading players operating in the global electronic health records market. The companies operating in the market are using various strategies such as product advancements through addition of new features & interoperability, mergers and collaborations in order to stay competitive in the market.
Years considered for this report:
Historical Years: 2014-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
• To analyze and forecast the market size of global electronic health records market.
• To classify and forecast global electronic health records market based on product, component, end user, and regional distribution.
• To identify major drivers & challenges for global electronic health records market
• To identify major emerging trends of global electronic health records market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global electronic health records market.
• To identify and profile major companies operating in global electronic health records market.
To analyze and forecast the global EHR market, both top down and bottom up approaches have been used.Multiple employees from several healthcare companies have been interviewed through telephonic conversations to extract and verify the information.
A brief study of the major players operating in electronic health records market was conducted globally, which included the analysis of information such as technological advancements in the field of healthcare IT, followed by expected investments in the coming years in healthcare infrastructure, government funding and expenditure for the development of healthcare IT solution and various healthcare reforms and initiatives in different countries. Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor which could increase or decrease the demand for electronic health records globally.
Various secondary sources such as company websites, annual reports, white papers, investor presentation, news articles, associations, were also studied by the analyst.
Key Target Audience:
• Electronic Health Records service providers, end users and other stakeholders
• Organizations, forums and alliances related to healthcare industry
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is essential in delivering useful information to industry stakeholders such as service providers, vendors and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
Report Scope:
In this report, global electronic health records market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
• Market, By Product:
o Web/Cloud Based
o On-premise Based
• Market, By Component:
o Practice Management
o Patient Management
o E-Prescription
o Referral Management
o Population Health Management
• Market, By End User:
o Hospitals
o Clinics
o Ambulatory Surgical Centers
o Specialty Centers
• Market, By Region:
o North America
US
Canada
Mexico
o Europe
Germany
France
Italy
UK
Spain
Rest of Europe
o Asia-Pacific
China
India
Japan
South Korea
Rest of APAC
o South America
Brazil
Argentina
Colombia
Rest of South America
o Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global electronic health records market.
Voice of Customer: Quality improvement, patient safety, identification of high-risk patients, development of approach to query for data, identification of care gaps for patients are the major factors affecting decision related to electronic health records for various users in the global electronic health records market
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Channel Partner Analysis
• Detailed list of distributors and dealers across all major regions.
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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