Electronic Health Records Market – Future Scope Detailed Analysis, Key Players, Growth and Forecast by 2023

An electronic health record (EHR) is an electronic version of a patient’s medical history, that is maintained by the provider over time, and may include all of the key administrative clinical data relevant to that persons care under a particular provider, including demographics, progress notes, problems, medications, vital signs, past medical history, immunizations, laboratory data and radiology reports. The EHR automates access to information and has the potential to streamline the clinician’s workflow. The EHR also has the ability to support other care-related activities directly or indirectly through various interfaces, including evidence-based decision support, quality management, and outcomes reporting.

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Market Insights

The global electronic health records market was sized near USD 21.0 billion in 2016. The global electronic health records market is projected to grow with a CAGR between 5.5% and 6.0% during 2017-2023 and reach USD xx.x billion by 2023. Favorable government regulations and policies and, rising usage of mobile phones and tablets through which e-prescription can be accessed, improving patient’s safety concerns, and advanced technological tools owing EHR are considered to be the key factors driving the growth of this market. Moreover, high cost associated with the installation of EHR and lack of skilled healthcare IT professionals are considered to be the prime factors restraining the growth of this market. Furthermore, the EHR software’s are anticipated to bring more opportunities to this market due to reduced medical errors, quick access to patient related data, increased patient participation and high development by healthcare service providers.

Segments Covered:

The report segments the electronic health records market by product type and by end users. Market segmentation based on product type includes web or cloud based EHR and client –server based EHR. Moreover, the global electronic health records market based on end users is segmented into hospital use and ambulatory use. The ambulatory use sub segment is further sub segmented into stand-alone facility, clinical use and retail pharmacy use.

Geographic Coverage and Analysis:

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific,and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.

North America is accounted for the largest market share in terms of revenue in 2014 and is expected to continue its dominance over the forecast period with a CAGR rate more than 5.5%. Increasing government investment in R&D activities and rising demand for improved healthcare services are expected to be the key factors driving the growth of this market region over the forecast period. Moreover, Asia Pacific is expected to be the most prominent growing region in this market with a highest CAGR rate over the forecast period. Rising awareness among patient population about EHR services and its benefits and increasing disposable income capacity are the key factors supporting the growth of this market in Asia Pacific region. Emerging nations such as India, China and Indonesia will encourage healthcare providers to adopt technically advanced EHR systems and are expected to provide immense potential for EHR market.

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Companies Profiled:

The companies covered in the report include Siemens Medical Solutions, GE Healthcare, MEDITECH, McKesson Corp., NextGen Healthcare, Cerner Corp., Epic Systems, Allscripts Helthcare Solutions, Cure MD, Dell, Practice Fusion, Greenway Health, Advanced MD, eClinicalWorks, and Computer Programs & Systems, Inc.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of lectronic health records globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of lectronic health records. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the lectronic health records market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the lectronic health records market to understand the present and future trends in this market and formulate their strategies accordingly.

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