Electronic Medical Records Market
- The global electronic medical records market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
- An electronic medical record (EMR), also called electronic health record (EHR) is digitalized patient’s chart. EMRs are patient-centric, real-time records that have information available at an instant in a secure form to authorized users.
- It holds all data related to the patient’s medical history such as diagnoses, medications, treatment plans, radiology images, allergies, and laboratory test results. An EMR system goes beyond typical clinical data collected in a provider’s office and can allow access to evidence-based tools that providers can use to make decisions about a patient’s care.
- Key features of an EMR is that it automates and streamlines provider workflow and is capable of sharing health information with other providers across more than one organization such as laboratories, emergency facilities, medical imaging facilities, specialists, pharmacies, and school and workplace clinics.
- The growth of the electronic medical records market can be attributed to the increasing need for an advanced healthcare information system and rising GDP aiding the modernization of healthcare services.
- The growing dependence of the healthcare industry on technology along with the increasing investments by IT players in healthcare are the major factors driving the growth of the electronic medical record market.
- Other factors boosting the demand for EMR is the rising geriatric population and the growing number of chronic diseases which needs EMR to record personal health.
- The usage of EMR simplifies health management among people, making it more efficient and give better healthcare quality.
- EMRs help to improve the ability to diagnose diseases and prevent medical errors. Thus, improving patient outcomes as healthcare providers will have access to complete and accurate information.
- However, market growth is restricted by the high cost of EHR and growing concerns regarding patient data safety & security due to cyber-crime.
Market Segment Analysis
- By delivery mode, the electronic health record market has been segmented into web/cloud-based server, and on-premise.
- Among these segments, the on-premise currently holds a significant share. However, web/cloud-based server share is the fastest growing share in this segment.
- It can be attributed to the increasing number of benefits it offers including low start-up and licensing cost, easy maintenance, and simple infrastructure requirements, as well as broader accessibility.
- Moreover, a web/cloud-based EMR system provides enhanced productivity with faster and smoother implementation.
- By the component, the electronic health record market has been segmented into patient management, practice management, e-prescription, population health management, referral management, and others. Among these segments, the fastest growing share during the forecast period is expected to be the e-prescription share.
- It is owing to the increasing adoption of e-prescriptions by healthcare providers. Several medical and surgical specialty organizations have made the use of these prescriptions mandatory.
Geographical Share Analysis
- North America accounts for the largest share in the global s electronic medical records market. It is a crucial contributor to the market as it is technologically advanced and developed region.
- It can be attributed to the broad base of the patient population and the presence of key players such as McKesson Corporation, Allscripts and Cerner Corporation. Moreover, there has been an increasing adoption of EMR products in this region to deliver high-quality patient care.
- Other factors are the high spending of GDP in healthcare, especially in the US and Canada, and innovative next-gen technologies are likely to drive this region’s market.
- The Asia Pacific is expected to witness significant growth regarding consumption of smart healthcare products. The region is heading towards digitization of services including healthcare owing it to improving IT infrastructure, favorable government norms and support and its economic growth are other factors driving this region’s market.
- Several companies are adopting strategies such as mergers and acquisitions, product innovation, partnerships, and regional expansion to stand out as strong competitors in the market.
- Product launch strategies adopted by companies are anticipated to boost competition. Major players in the electronic health record industry actively participating in the development of a new platform for the patient records are other strategies used by companies to expand their market presence.
- For instance, in February 2019, MIB, the life insurance industry’s most trusted and secure resource for the exchange of underwriting medical information, today announced an agreement with Paradigm, a division of Allscripts, an integrated data systems and services company that combines data-driven clinical insights with actionable tools to help improve the quality, efficiency, and value of healthcare delivery.
- Under this agreement, MIB EHR will access electronic health record (EHR) data via Paradigm’s eChart CourierTM service for use in life insurance.
- In May 2018, Department of Veterans Affairs (VA) agreed with Cerner Government Services, a wholly owned subsidiary of Cerner Corporation, for the VA to use off-the-shelf Cerner solutions to provide veterans and their healthcare providers access to their medical history through a single EHR system.
- Cerner plans to provide seamless care across the VA’s high-performing integrated network, including VA facilities, community providers and Department of Defence facilities.
- In April 2018, eClinicalWorks, healthcare IT solutions leader, announced Waverly Health Center has deciding to transition from the Paragon Inpatient EHR system to the eClinicalWorks cloud-centric Acute Care EHR and Revenue Cycle Management platform.
- In October 2017, Allscripts a global leader in healthcare technology, closed its acquisition of McKesson Corporation’s hospital and health system IT business, known as the Enterprise Information Solutions (EIS) business. The acquisition significantly expands the Allscripts client base in U.S. hospitals and health systems and expands its solutions portfolio.
- Some of the key players in the electronic health record market are Allscripts Healthcare Solutions, General Electric Company, Medical Information Technology Inc., McKesson Corporation, Epic Systems Corporation, Computer Programs & Systems Inc., and Quality Systems Inc.
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• Visualize the composition of the global point of care (PoC) data management systems market across each indication, in terms of type and treatment options, highlighting the critical commercial assets and players.
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Global Electronic Medical Records Market
Section 1. Methodology and Scope
1.1 Research methodology
1.2 Research Objective and Scope of the Report
Section 2. Industry Trends
Section 3. Market Outlook
3.1 Market Snippet by Component
3.2 Market Snippet by Mode Of Delivery
3.3 Market Snippet by End-users
3.4 Market Snippet by Region
3.5 DataM CLO Scenario
Section 4. Market Dynamics
4.4 Impact Analysis
Section 5. Industry Analysis
5.1 Porter’s Five Forces Analysis
5.2 Pricing Analysis
5.3 Technology Updates
Section 6. Market Segmentation Analysis – By Mode Of Delivery
6.1 Web/Cloud based
Section 7. Market Segmentation Analysis – By Component
7.1 Practice management
7.2 Patient management
7.4 Referral management
7.5 Population health management
Section 8. Market Segmentation Analysis – By End-users
8.3 Specialty Centers
Section 9. Regional, Country-level Analysis
9.1 North America
9.2.6 Rest of Europe
9.3 South America
9.3.3 Rest of South America
9.4 Asia Pacific
9.4.5 Rest of Asia Pacific
9.5 Middle East & Africa
Section 10. Competitive Analysis
10.1 Competitive Scenario
10.2 Competitor Strategy Analysis
10.3 Comparative Product Portfolio Analysis
10.4 Market Positioning/Share Analysis
10.5 Mergers and Acquisitions Analysis
Section 11. Company Profiles
11.1 Medical Information Technology Inc. (Meditech)
11.2 Cerner Corporation
11.3 Allscripts Healthcare Solutions
11.4 Healthcare Management Systems
11.5 NextGen Healthcare
11.6 Epic Systems Corporation
11.7 McKesson Corporation
11.9 IBM Healthcare
11.10 Greenway Health, LLC
Section 12. Global Electronic Medical Records Market – Premium Insights
Section 13.Global Electronic Medical Records Market – DataM
13.2 About Us and Services
13.3 Contact Us