EHR-EMR Market Research Report- Global Forecast to 2027

EHR-EMR Market Information: By Component (Software, Hardware), By Application (Specialty-Based and General Application), By Mode Of Delivery (Cloud-Based), By End User (Hospitals and Clinics and Ambulatory Care Centers) - Forecast till 2027

ID: MRFR/HCIT/0323-CR | February 2021 | Region: Global | 123 pages

Market Overview


EHR-EMR Market is anticipated to list a CAGR of 5.82% and consequently gain USD 42,427.27 Million in revenues by 2027. EHR/EMR is used widely because of its schematized grouping of patients' electronically-stored health info in a digital presentation format. The digitally-stored data is shareable throughout diverse healthcare backgrounds. An EHR/EMR characteristically consists of medications, medical history, allergies, radiology images, billing information, patient demographics, and other information parameters.


COVID-19 Analysis


Several healthcare firms are ramping up forces for the handling of COVID-19 patients more efficaciously. Though, with the swell in the cases, it is difficult for hospitals to administer patient info accurately. The healthcare IT vendors are flourishing globally and offer healthcare establishments with tools to process a case, data analysis, and assess the patients distantly. In light of this contagion, the electronic health record-electronic medical record (EHR-EMR) sellers are making attempts to supplement their current systems for effortless functionality and manage this emergency. Privacy worries and outmoded regulations have aggravated the current situation and directed a fragmented data ecosystem. Information interoperability among healthcare suppliers remains an important challenge where the exchange and study of medical data for healthcare purposes is still not readily achievable.


Market Dynamics


Drivers


Increasing Adoption Of EHR


The surge in EHR adoption in several hospitals due to modernization programs is estimated to motivate the EMR-EHR market value in the coming period.


Government Initiatives For The Maintenance Of Patients' Electronic Health Records


The technological development in healthcare IT, the substitution of document records, and healthcare records management's mounting need are driving the EHR in healthcare industry growth.


Clinical Benefits Associated With The Application Of EHR-EMR


The benefits associated with the application of EHR-EMR are projected to enhance the EMR market share in the forecast period.


Opportunities


Growing Adoption Of EHR-EMR In Untapped Markets Of Asia-Pacific


The increased adoption of EHR-EMR in the APAC region due to improved access to funding is estimated to transform the global EHR-EMR market.


Challenges


High Cost Of Implementing EMR & EHR


The cost deterrent associated with EHR-EMR is estimated to create hindrances in developing the EHR-EMR market size.


Data Security Concerns


The amplified instance of data tampering is estimated to lead to a reduced sense of trust in implementing the EHR-EMR market in the forecast period.


Segment Overview


By Component


The software segment is the fastest mounting segment by component and is likely to reach USD 25,823.57 million by 2027.


By Application


The specialty-based segment is the quickest growing segment of the market at a 6.02% CAGR in the forecast period.


By Mode Of Delivery


The on-premises segment is projected to hold the principal market share of 55% in the delivery segment mode.


Regional Analysis


North American Region To Show Fortuitous Growth


The North American regional market accounts for the principal share in the EHR-EMR market. It was responsible for a substantial market share of 49% in 2017. This can be attributed to key players and technically advanced healthcare infrastructure in the region. The region is forecasted to observe a collective implementation of electronic health record (EHR)/electronic medical record (EMR).


European Regional Market To Bank On Technological Prowess


Europe is the second principal market for EHR-EMR. The growing prevalence of long-lasting diseases and rising government support for espousing electronic health record (EHR)/electronic medical record (EMR) facilitates market progress.


Health Awareness To Power APAC Regional Market


Asia Pacific is anticipated to flourish at the peak CAGR of 6.77% throughout the forecast period. The Asia-Pacific region rule is mainly due to the increasing understanding of electronic healthcare record systems and their mounting importance and accommodating government programs and policies.


Competitive Landscape


The recognized companies in the EHR-EMR market are



  • GE Healthcare (US),

  • Allscripts Healthcare Solutions (US),

  • Cerner Corporation (US),

  • Advanced Data Systems Corporation (US),

  • Athenahealth, Inc. (US),

  • AdvancedMD (US),

  • eClinicalWorks (US)


Recent Developments


Jan 2021 Adena Health System announced it would apply Epic EHR after intensifying its relationship with The Ohio State University Wexner Medical Center. Ohio State Wexner Medical Center, an Epic Systems customer, will connect to Adena and its numerous other partners in the state. Adena can influence the medical center's properties and health IT expertise to enhance the EHR platform further and boost patient care.


Dec 2020 CHI Saint Joseph Health, a Kentucky-based health system, will unveil Epic Systems EHR in an effort to advance patient care and ensure interoperability across its 135 locations. The clinics, hospitals, and primary care amenities in 20 districts across the state will commence the EHR conversion in January. During the COVID-19 contagion, telehealth integration amplified in admiration due to hospitals' overpopulation and the necessity for social distancing to help limit the spread of the virus. The health system showed off the integrated telehealth platform, allowing chat, video, and voice communication between dual users or more.


Nov 2020 Saudi Arabia's International Medical Center (IMC) has become a state-of-the-art healthcare entity in the Middle East & North Africa (MENA) region to assume InterSystems TrakCare. The multidisciplinary healthcare supplier known as the first member of the Mayo Clinic Care Network in the Kingdom will apply the TrakCare electronic medical record (EMR) method in its Jeddah hospital and clinics. They include The First Clinic, IMC Hospital, Tadawi Center, Petro Rabigh Clinic, and First Scan.TrakCare in IMC will integrate all our clinical, financial, and administrative data within the same treatment. The comprehensive Revenue Cycle Management module will prove to be a game-changer in mechanizing many operational processes.


Dec 2020 Cerner Corporation declared new clients around the US, who will elevate to CommunityWorks, a cloud-based delivery model of the Cerner Millennium electronic health record (EHR) personalized to community and Critical Access Hospitals. CommunityWorks offers an integrated digital record of a patient's health history, including clinical and financial data across the care continuum. Cerner can gauge traditional solutions and services through this model to deliver an economical business model for mid-size to smaller rural hospitals with a foreseeable technology spend.


Jan 2021 Petersburg (Alaska) Medical Center is moving onward with plans to install a new Cerner EHR system; the hospital's board of directors permitted a proposal for the USD 1.3 million EHR application project. The new system will substitute the hospital's current six-year-old EHR. The EHR's capital will come from a state grant given to the medical center for technical advancements across its facility. The hospital also used some of the reserves to overhaul its telehealth infrastructure in reaction to the COVID-19 pandemic.


Report Overview


By Component



  • Software

  • Services & Consulting

  • Hardware


By Application



  • Specialty-Based

  • General Applications


By Mode Of Delivery



  • On-Premise Model

  • Cloud-Based


By End-User



  • Hospital & Clinics

  • Ambulatory Care

  • Diagnostic Centers



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 42,427.27 Million
  CAGR   5.82%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Application and Mode Of Delivery
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   GE Healthcare (US), Allscripts Healthcare Solutions (US), Cerner Corporation (US), Advanced Data Systems Corporation (US), Athenahealth, Inc. (US), AdvancedMD (US), eClinicalWorks (US)
  Key Market Opportunities   Growing Adoption Of EHR-EMR In Untapped Markets Of Asia-Pacific
  Key Market Drivers

  • Increasing Adoption Of EHR
  • Government Initiatives For The Maintenance Of Patients' Electronic Health Records
  • Clinical Benefits Associated With The Application Of EHR-EMR


  • Frequently Asked Questions (FAQ) :


    EHR-EMR market is projected to grow at a 5.82% CAGR between 2020-2027.

    The Americas is expected to lead EHR-EMR market.

    Major applications of EHR-EMR include general application and specialty based.

    Rising adoption of EHR and favorable government initiatives are the key factors driving the EHR-EMR market.

    The EHR-EMR market is predicted to touch USD 42,427.27 million by 2027.