Global Electronic Health Records Market Set For Rapid Growth, To Reach Value Around USD 4019.00 Million By 2026

03-Aug-2018 | Zion Market Research

Zion Market Research has published a new report titled “Electronic Health Records Market by Product (Web-based Electronic Health Records, and Client Server-based Electronic Health Records), by Type (Ambulatory EHR, Acute EHR, and Post-acute EHR), and by End Users (Hospitals, Physicians, Pharmacies, and Ambulatory Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2026”. According to the report, global electronic health records market was valued at approximately USD 2542.00 million in 2017 and is expected to generate revenue of around USD 4019.00 million by end of 2026, growing at a CAGR of around 5.2% between 2018 and 2026.

Electronic health records (EHRs) are nothing but electronic medical records; these are a digital version of the paper charts that were previously available in the healthcare provider’s office. An EHR collects, develops, stores, and maintains all the health records electronically. In contrast with the traditional medical records of patients, whose functionality was tied by the stagnant nature of paper and data stored in a single format for data entry and recovery, the EHR is adaptable and flexible.

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Global Electronic Health Records Market

Notable advantages associated with EHR system and financial incentives by governments of various countries are amongst the major factors driving the growth of the electronic health records market, all over the world. In the U.S., around 90% of physicians are making use of electronic health records. As per research, the annual healthcare spending of the U.S. had reached around USD 2.9 trillion in 2011 which increased up to USD 3.5 trillion by 2015. According to NEHRS (National Electronic Health Records Survey) in 2015, around 78% of physicians registered using a Certified EHR system and 87% of physicians reported using an EHR system. These percentages are anticipated to increase in near future owing to growing technological developments and the advantages of EHR provided to doctors and patients.

Based on the product, the electronic health records market is segmented into web-based electronic health records and client server-based electronic health records. Owing to advantages such as low deployment costs and automatic data back-up, the web-based EHR system is more popular among medical professionals and is anticipated to hold significant market share during the forecast period. Whereas, the high installation fees for client server-based electronic health records system anticipates limiting the growth of the segment; however, since additional control and proper management on data and software is provided by the client-server based electronic health records system the segment anticipates having demand in the coming years. 

By type, the global electronic health records market is classified into ambulatory EHR, acute EHR, and post-acute EHR. Among which the acute EHR segment accounted for the largest market share owing to the facilities such as management of patient records in hospitals along with a compilation of reports from exterior medical facilities. Moreover, the policies such as IPPS (Inpatient Prospective Payment System) under which the acute care hospitals are eligible for Medicare incentive payments growth of segment is expected during the forecast period. The post-acute EHR segment is anticipated to grow at the highest CAGR over the forecast period.

By end user, the market is segmented as hospitals, physicians, pharmacies, and ambulatory centers. Among which hospitals segment contributed for the largest market share of global electronic health records Market.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are major regional segments of global electronic health records market. North America is anticipated to remain the leading regions over the forecast period. High adoption of electronic health record systems in the region along with the favorable government policies is expected to offer new opportunities for the electronic health record market during the forecast period. Asia Pacific region is expected to grow at the highest CAGR owing to the developing healthcare infrastructure and increasing disposable income. Developing nations such as China and India are the most prominent markets owing to the rapid adoption of healthcare IT and significant economic growth.

Some of the key players in electronic health records market include Allscripts, Cerner, MEDITECH, McKesson Corporation, NextGen Healthcare, and Epic Systems Corporation, which are some of the well-founded companies in the electronic health records market. In addition, some of the upcoming companies in the electronic health records market include Healthcare Management Systems, eClinicalWorks, CureMD Healthcare, and Healthland, among others. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio. 

This report segments the global electronic health records market as follows:

Global Electronic Health Records Market: Product Segment Analysis

  • Web-based electronic health records 
  • Client server-based electronic health records

Global Electronic Health Records Market: Type Segment Analysis

  • Ambulatory EHR
  • Acute EHR
  • Post-acute EHR

Global Electronic Health Records Market: End-user Segment Analysis

  • Hospitals
  • Physicians
  • Pharmacies 
  • Ambulatory centers

Global Electronic Health Records Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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