Global and US EHR-EMR Market Report - Forecast to 2027

Global and US EHR-EMR Market: Information by Components (Software, Services & Consulting and Hardware), Application (Specialty Based and General Applications), Mode of Delivery (On-Premise Model and Cloud-Based), End User (Hospital & Clinics, Ambulatory Care and Diagnostic Centers) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast till 2027

ID: MRFR/HCIT/0291-CR | July 2019 | Region: Global | 125 Pages         

US EHR-EMR Market

US EHR-EMR Market at a CAGR of 5.82% to hit $ 42,427.27 Million by 2027

Segmentation

By Components Software Services & Consulting and Hardware
By Application Specialty Based and General Applications
By Mode of Delivery On-Premise Model and Cloud-Based
By End User Hospital & Clinics Ambulatory Care and Diagnostic Centers

Key Players

  • GE Healthcare
  • Allscripts Healthcare Solutions
  • Cerner Corporation
  • Advanced Data Systems Corporation
  • Athenahealth Inc.AdvancedMD Inc.
  • eClinicalWorks
  • Meddbase (Medical Management Systems Ltd)
  • Koninklijke Philips NV
  • Agastha Inc.
  • Epic Systems

Drivers

  • Increasing Adoption Of EHR (Electronic Health Record)/EMR (Electronic Medical Record)
  • Government Initiatives For The Maintenance Of Patient’s Electronic Health Records
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Global US EHR-EMR Market Overview


The US EHR-EMR Market is estimated to have a substantial growth of 5.82% CAGR during the forecast period. According to the MRDR Analysis, the market value of EMR and EHR Systems will reach up to USD 42,427.27 Million by the year 2027. The full form of EMR and EHR Systems is Electronic Health Record-Electronic Medical Health Record. In this system, the important information of patients is stored digitally on various healthcare platforms.


The information in this system is related to the patients’ demographics, medical history, allergies, treatment, medications, billing information, etc. The market consists of different segments such as consulting, software services, on-premise, and on-cloud. In the forthcoming years, it is evaluated that North America will hold the largest share.


COVID-19 Analysis


The EMR and EHR market was highly affected due to the advent of COVID-19 disease. Various factors such as the imposition of lockdown highly affected the healthcare system. However, the use of digital technology has incredibly helped to manage the patient's data remotely. In the forthcoming years, the positive growth of EMR and EHR vendors will help the market to flourish.


Global & US EHR-EMR Market Size, by MODE OF DELIVERY, 2017 (USD Million)  EHR-EMR Market


Source: MRFR Analysis


Market Dynamics


Market Drivers


The evolution and rapid adoption of digitalization have helped the EMR and EHR market to boost. Along with that, the positive initiatives by the government of several countries have transformed the healthcare sector. Now, the EMR and EHR Systems are efficient in keeping the record of patient data updated.


Restraints


However, the high cost for the implementation of the EMR and EHR Systems is a major restraint. Due to this reason, it is estimated that the market growth will slow down at a significant rate. However, several acquisitions, mergers, and new product launches will help the market to recover its growth.


Opportunities


There are several new opportunities that help give a significant boost to the US EHR-EMR Market during the forecast period. The rapid technological advancements especially in the growing countries such as China, and India will provide various opportunities.


Challenges


The increasing digitalization across various platforms has also increased the concerns over data security. Along with that, the lack of skilled individuals and providing them adequate training will be a major challenge for the market growth.


Cumulative Analysis


The Compound Annual Growth Rate (CAGR) of the US EHR-EMR Market is estimated to grow a 5.82%. Along with that, the market growth will further reach up to USD 42,500 by the end of the forecast period. The rising need for the EMR and EHR systems, increasing use of digitalization is promoting market growth in the forthcoming years.


Value Chain Analysis


With the significant demand in the healthcare sector, the value chain of the US EHR-EMR Market will further strengthen in the upcoming period. Along with that, growing developments by the EMR-EHR vendors with new technologies, mergers, and acquisitions, the market value will increase.


Global & US EHR-EMR Market Share, by Region, 2017 (%)  EHR-EMR Market


Source: MRFR Analysis


Market Segmentations         


The market segments of the US EHR-EMR Market are divided into application, component, and mode of delivery, and end-user.


Based on the application, the US EHR-EMR Market is segmented into general application and specialty-based.


Based on the end-user, the US EHR-EMR Market is segmented into ambulatory care, clinics and hospitals, and diagnostic centers.


Based on the delivery mode, US EHR-EMR Market is again divided into cloud-based and on-premise models.


Based on the components, the US EHR-EMR Market is again segmented into hardware, consulting and services, and software.


Regional Analysis


On the basis of region, the US EHR-EMR Market is segmented into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. According to MRFR analysis, it is evaluated that North America will hold the largest share in the global market. The presence of EMR-EHR vendors in Canada and the US and growing technological advancements are fuelling the market growth.


Secondly, Europe will hold the second-largest share in the global market. The rising adoption of EMR-EHR facilities is the major reason for the significant growth. Along with that, the Asia-Pacific region consists of developing countries such as India, Australia, Singapore, China, etc. The growing awareness for EMR and EHR Systems and supportive policies by the government will further boost the growth of the US EHR-EMR Market.  Lastly, the Middle East and Africa will have the lowest market share as compared to other regions. The lack of technological advancements and healthcare systems in countries of this region is the major reason for slow growth. However, the development in countries such as the UAE and Saudi Arabia has resulted in positive growth.



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   Components, Application, Mode Of Delivery and End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   GE Healthcare, Allscripts Healthcare Solutions, Cerner Corporation, Advanced Data Systems Corporation, Athenahealth, Inc., AdvancedMD Inc., eClinicalWorks, Meddbase (Medical Management Systems Ltd), Koninklijke Philips NV, Agastha, Inc., Epic Systems, and Medical Information Technology, Inc. (MEDITECH)
  Key Market Opportunities   Growing Adoption Of EHRs-EMRs In Untapped Markets Of Asia-Pacific Provides Opportunities For The Market To Grow
  Key Market Drivers

  • Increasing Adoption Of EHR (Electronic Health Record)/EMR (Electronic Medical Record)
  • Government Initiatives For The Maintenance Of Patient’s Electronic Health Records
  • Clinical Benefits Associated With The Application Of EHR-EMR Is Estimated To Boost The Market
  • Drivers Impact Analysis


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    The Global & US EHR-EMR Market is highly competitive with all players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront the market growth. The vendors compete based on cost, quality, and reliability. It is decisive for vendors to provide cost-efficient and high-quality products, to survive and succeed in an intensely competitive market environment.


    The global and US EHR-EMR market is characterized by the presence of many global, regional, and local vendors. The market is competitive with all players competing to gain a presence in the market. Intense competition, rapid advances in technology, frequent changes in government policies, and regulations are key factors that confront market growth. The manufacturers compete based on cost, quality, and reliability. It is decisive for manufacturers to provide cost-efficient and high-quality products to survive and succeed in an intensely competitive market environment.


    The growth of market players is dependent on market conditions, government support, and industry development. Thus, manufacturers should focus on expanding geographically and improving their products. They primarily focus on the development of novel products. Although international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players are likely to strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecast that the improvement of the global economic scenario combined with efforts to enhance the infrastructure in emerging nations, is fueling the market growth, thereby making it an ideal time for new products to increase the global market share.


    The major players with better technical and financial resources can develop innovative products. Further, research and development will play a major role in the development of a player in the market. Therefore, manufacturers must develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their products and services in the market.  


    Cerner Corporation is a leading supplier of Health Care Information Technology (HCIT) solutions and services. It has systems in more than 20,000 facilities in the globe including hospitals, physician practices, laboratories, ambulatory centers, behavioral health centers, cardiac facilities, radiology clinics, surgery centers, extended care facilities, and retail pharmacies.


    Epic system develops, installs, and supports software products for medical groups, hospitals, and integrated healthcare organizations. The company serves community hospitals, academic facilities, children's organizations, safety net providers, and multi-hospital systems.