Global Electronic Health Record Market Opportunities and Forecast 2023-2030

Electronic Health Record Market Overview

The global electronic health record market is expected to grow at a higher rate during the forecast period. Electronic health record is a system that electronically stores administrative clinical data and patient’s health information. Health care experts are broadly implementing EHR as it assists clinicians and patients with the most accurate and current health data. Governments in numerous developed, as well as developing countries, are encouraging the implementation of EHR in healthcare facilities. As funding from various government and private sectors for electronic health records has increased over the past few years. Moreover, an increasing number of regulations supporting healthcare IT by the government is boosting the growth of the electronic health record market in near future. In addition to this, increasing health care expenditure is an additional driving factor for the growth of the market.

On the other hand, factors including concerns over high initial investment, data privacy, and lack of skilled staff are expected to hamper the market growth. Nevertheless, the rising demand for digital health solutions from developing economies is projected to offer business opportunities for the market players. Moreover, the lack of a proper health information system has been recognized as a major challenge in the healthcare system in many developing countries including some Asian and sub-Saharan African countries.

Covid-19 Impact on Electronic Health Record Market:

In addition, the current Electronic Health Record Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Electronic Health Record Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.

Electronic Health Record Market Segment Overview

According to Deployment, the market is segmented into Cloud-Based, and On-Premise. Among these Cloud-Based holds the largest share of the market as it includes flexibility and cost reduction in healthcare delivery.

Based on type, the acute EHR segment dominates the market owing to the growing adoption of healthcare solutions for a better standard of life. However, the ambulatory electronic health record segment is expected to witness the fastest-growing segment during the forecast period.

Based on End User, clinics/hospitals hold the largest share in the global electronic health record market and also expected to grow at the highest rate over the forecast period.

Market Analysis, Insights and Forecast – By Deployment

·       Cloud-Based
·       On Premise

Market Analysis, Insights and Forecast – By Type

·       Ambulatory EHR
·       Acute EHR
·       Post-Acute EHR

Market Analysis, Insights, and Forecast – By End-user

·       Ambulatory Care Center
·       Clinics/Hospitals
·       Diagnostic and Imaging Center
·       Others

Electronic Health Record Market Regional Overview

Region-wise, North America dominated the global electronic health record market and is expected to continue its dominance during the forecast period. Factors such as the rising spending power of the people in countries such as the U.S. and Canada enhance the growth of the electronic health record market in the North American region. Similarly, Asia Pacific is to grow at highest rate in the global market owing to well-established health care infrastructure. Factors such as development in the health care infrastructure, rising awareness about health, a surge in investment in pharmaceuticals and healthcare sectors, and improving IT infrastructure, demand for reasonable healthcare, and favorable government norms are expected to boost the implementation of EHRs in this region are expected to boost the growth of the electronic health record market in the Asia Pacific region.

Electronic Health Record Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)

Electronic Health Record Market Competitor overview

Some key developments and strategies adopted by manufacturers in the electronic health record are highlighted below.

·       In November 2019, eClinicalWorks announced collaboration with Humana Inc. eClinicalWorks is a leader in healthcare IT solutions, such as telehealth, population health, revenue cycle engagement, patient engagement.

Electronic Health Record Market, Key Players

·       Cerner Corporation
·       eClinicalWorks
·       Allscripts Healthcare Solutions Inc
·       Epic Systems Corporation
·       AdvancedMD, Inc.
·       Computer Sciences Corporation (CSC)
·       GE Healthcare
·       CureMD Healthcare
·       McKesson Corporation
·      NextGen Healthcare Inc.