EHR-EMR Market Research Report- 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

EHR-EMR 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 of EHR-EMR Market


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.


EHR-EMR 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.


EHR-EMR Market 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 EHR-EMR market at a 6.02% CAGR in the forecast period.


By Mode Of Delivery


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


EHR-EMR Market Regional Analysis


North American Region To Show Fortuitous Growth


The North American regional EHR-EMR market accounts for the principal share in the EHR-EMR market. It was responsible for a substantial EHR-EMR 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 for EHR-EMR market. 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 EHR-EMR Market


Asia Pacific EHR-EMR market 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.


EHR-EMR Market 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.


EHR-EMR Market 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



 

1 Executive Summary

2 Market Introduction

2.1 Definition 19

2.2 Scope of the Study 19

2.3 Assumptions & Limitations 19

2.3.1 Assumptions 19

2.3.2 Limitations 19

2.4 Market Structure 19

3 Research Methodology

3.1 Research Process 21

3.2 Primary Research 22

3.3 Secondary Research 23

3.4 Market Size Estimation 23

3.5 Forecast Model 24

4 Market Dynamics

4.1 Introduction 26

4.2 Drivers 26

4.2.1 Increasing adoption of EHR (electronic health record)/EMR (electronic medical record) 26

4.2.1 Government initiatives for the maintenance of patients’ electronic health records 27

4.2.2 Clinical benefits associated with the application of EHR-EMR is estimated to boost the market 27

4.2.3 Drivers Impact Analysis 28

4.3 Restraints 28

4.3.1 High cost of implementing EMR & EHR followed by the need for training 28

4.3.2 Data security concerns 28

4.3.3 Restraints Impact Analysis 29

4.4 Opportunities 29

4.4.1 Growing adoption of EHRs-EMRs in untapped markets of Asia-Pacific provides opportunities for the market to grow 29

5 Market Factor Analysis

5.1 Porters Five Forces Analysis 31

5.1.1 Bargaining Power of Suppliers 32

5.1.2 Bargaining Power of Buyers 32

5.1.3 Threat of New Entrants 32

5.1.4 Threat of Substitutes 32

5.1.5 Intensity of Rivalry 32

5.2 Investment Opportunity Analysis 33

5.3 Value Chain Analysis 33

5.3.1 Inputs 34

5.3.2 Software Development Processes 34

5.3.3 Output 34

5.3.4 Marketing and Distribution 34

5.3.5 Post-Selling Services 34

6 Global EHR-EMR Market, By Components

6.1 Overview 36

6.1.1 Introduction 36

6.1.2 Software 37

6.1.3 Services & Consulting 37

6.1.4 Hardware 38

7 Global EHR-EMR Market, By Application

7.1 Overview 40

7.1.1 Introduction 40

7.1.2 Specialty Based 41

7.1.3 General Applications 42

8 Global EHR-EMR Market, By Mode of Delivery

8.1 Overview 44

8.1.1 Introduction 44

8.1.2 On-Premise Model 45

8.1.3 Cloud-Based 45

9 Global EHR-EMR Market, By End-User

9.1 Overview 47

9.1.1 Introduction 47

9.1.2 Hospital & Clinics 48

9.1.3 Ambulatory Care 48

9.1.4 Diagnostic Centres 49

10 Global EHR-EMR Market, By Region

10.1 Introduction 51

10.2 Americas 53

10.2.1 North America 56

10.2.1.1 U.S. 57

10.2.1.2 Canada 59

10.2.2 South America 61

10.3 Europe 63

10.3.1 Western Europe 65

10.3.1.1 Germany 67

10.3.1.2 U. K. 69

10.3.1.3 France 71

10.3.1.4 Italy 72

10.3.1.5 Spain 74

10.3.1.6 Rest of Western Europe 76

10.3.2 Eastern Europe 77

10.4 Asia Pacific 80

10.4.1 Japan 83

10.4.2 China 84

10.4.3 India 86

10.4.4 Australia 88

10.4.5 Republic of Korea 89

10.4.6 Rest of Asia Pacific 91

10.5 The Middle East and Africa 93

10.5.1 Middle East 95

10.5.2 Africa 97

11 Competitive Landscape

11.1 Introduction 100

12 Company Profiles

12.1 GE Healthcare 102

12.1.1 Company Overview 102

12.1.2 Financial Overview 102

12.1.3 Products/Services Offered 102

12.1.4 Key Developments 103

12.1.5 SWOT Analysis 103

12.1.6 Key Strategy 103

12.2 Allscripts Healthcare Solutions 104

12.2.1 Company Overview 104

12.2.2 Financial Overview 104

12.2.3 Products/Services Offered 105

12.2.4 Key Developments 105

12.2.5 SWOT Analysis 105

12.2.6 Key Strategy 105

12.3 Cerner Corporation 106

12.3.1 Company Overview 106

12.3.2 Financial Overview 106

12.3.3 Products/Services Offered 106

12.3.4 Key Developments 107

12.3.5 SWOT Analysis 107

12.3.6 Key Strategy 107

12.4 Advanced Data Systems Corporation 108

12.4.1 Company Overview 108

12.4.2 Financial Overview 108

12.4.3 Products/Services Offered 108

12.4.4 Key Developments 108

12.4.5 SWOT Analysis 108

12.4.6 Key Strategy 108

12.5 Athenahealth, Inc. 109

12.5.1 Company Overview 109

12.5.2 Financial Overview 109

12.5.3 Products/Services Offered 109

12.5.4 Key Developments 110

12.5.5 SWOT Analysis 110

12.5.6 Key Strategy 110

12.6 AdvancedMD Inc. 111

12.6.1 Company Overview 111

12.6.2 Financial Overview 111

12.6.3 Products/Services Offered 111

12.6.4 Key Developments 111

12.6.5 SWOT Analysis 112

12.6.6 Key Strategy 112

12.7 eClinicalWorks 113

12.7.1 Company Overview 113

12.7.2 Financial Overview 113

12.7.3 Products/Services Offered 113

12.7.4 Key Developments 113

12.7.5 SWOT Analysis 114

12.7.6 Key Strategy 114

12.8 Meddbase (Medical Management Systems Ltd) 115

12.8.1 Company Overview 115

12.8.2 Financial Overview 115

12.8.3 Products/Services Offered 115

12.8.4 Key Developments 115

12.8.5 SWOT Analysis 115

12.8.6 Key Strategy 115

12.9 Koninklijke Philips N.V. 116

12.9.1 Company Overview 116

12.9.2 Financial Overview 116

12.9.3 Products/Services Offered 116

12.9.4 Key Developments 117

12.9.5 SWOT Analysis 117

12.9.6 Key Strategy 117

12.10 Agastha, Inc. 118

12.10.1 Company Overview 118

12.10.2 Financial Overview 118

12.10.3 Products/Services Offered 118

12.10.4 Key Developments 118

12.10.5 SWOT Analysis 118

12.10.6 Key Strategy 118

12.11 Epic Systems 119

12.11.1 Company Overview 119

12.11.2 Financial Overview 119

12.11.3 Products/Services Offered 119

12.11.4 Key Developments 119

12.11.5 SWOT Analysis 119

12.11.6 Key Strategy 119

12.12 Medical Information Technology, Inc. (MEDITECH) 120

12.12.1 Company Overview 120

12.12.2 Financial Overview 120

12.12.3 Products/Services Offered 120

12.12.4 Key Developments 121

12.12.5 SWOT Analysis 121

12.12.6 Key Strategy 121

13 Appendix

13.1 Discussion Blue Print 123

EHR EMR Market