With 5.4% CAGR, Electronic Health Records Market Size to Reach USD 39,913.16 Million [2018-2026]

According to Fortune Business Insights, the global Electronic Health Records (HER) Market size is projected to grow from USD 26,200.48 Million in 2018 to USD 39,913.16 Million by 2026 at CAGR of 5.4% during forecast period; emergence of artificial intelligence to spur growth.

Pune, India, Sept. 12, 2022 (GLOBE NEWSWIRE) — The global electronic health records market size is set to gain momentum from the introduction to artificial intelligence (AI) in the healthcare industry. AI not only helps clinicians in diagnosing a patient’s condition, but also recognizes historical trends of the patient. The report further states that the EHR market size stood at USD 26,200.48 Million in 2018 and is projected to reach USD 39,913.16 Million by 2026, exhibiting a CAGR of 5.4% during the forecast period.

Key Industry Developments:

• June 2021 – Datavant and Ciox Health entered into a definitive agreement to form a new company which will be the nation’s largest health data ecosystem. It will aid patients, providers, payers, health data analytics firms, patient-facing applications, government organizations, and life science firms to exchange their patient-level data in a secured manner.

• October 2019: Northwell Health and Allscripts announced signed an agreement to develop the next-generation EHR that would be AI-based, voice-enabled, and cloud-based.

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Report Scope:

Competitive Landscape-

Key Players Focus on Unveiling State-of-the-art Products by Joining Hands with Others

The Electronic Health Records Market consists of a large number of big, medium, and small companies that are striving persistently to gain more share. To attain their business goals, they are focusing on research and development activities to introduce cutting-edge products in the market. Some of them are also teaming up with other local players.

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Rising Usage in Administrative & Clinical Applications to Boost Growth

Since the past few years, in many countries, the adoption of electronic medical record is upsurging at a fast pace. It is occurring because of the realization of the masses that to gain top-quality care at lower costs, implementation of a robust health information technology (HIT) is extremely vital. EHR is used extensively in clinical applications, such as decision supports, results management, order entry and support, and health information and data. It is also used in healthcare financing, as well as administrative applications. However, deployment of EHR involves a lot of money spending. It may hinder the electronic health records market growth during the forthcoming period.

Regional Analysis-

Favourable Government Policies to Favour Growth of North America 

Geographically, the market is divided into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Amongst these, in 2018, North America procured USD 12,123.12 million EHR market revenue. This growth is attributable to the presence of flexible regulatory scenario, favourable government policies, and rising digitalization in the healthcare sector in the U.S. In Asia Pacific, the market would exhibit lucrative growth fuelled by the increasing initiatives by key vendors to explore the untapped countries in this region. In the Middle East and Latin America, the rising prevalence of chronic diseases requiring suitable management in the health clinics is set to drive the market growth. Lastly, in Europe, several countries are adopting healthcare IT rapidly, which, in turn, is anticipated to boost growth.

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Segment-

Ability to Reduce Cost of IT Support Will Accelerate Growth of Web-based Segment

In terms of product, the market is grouped into on-premise and web-based. Out of these, the web-based segment is expected to showcase significant EMR market revenue and lead throughout the forecast period. It is attributable to their easy installation process where technicians don’t have to work with complex infrastructure to host data. All these works can be easily done through the Internet and hence, it doesn’t require IT support and lowers additional cost. The on-premise segment is likely to exhibit slow growth because of the requirement of in-house servers.

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This Report Answers the Following Questions-

• What are the Electronic Health Records Market trends, growth drivers, and hindrances?
• How many companies would generate the maximum Electronic Health Records Market share in the near future?
• Which are the innovative strategies adopted by key players to increase sales?
• What are the important challenges and opportunities that the market may face?
• How will the market be affected in the near future?

Fortune Business Insights™ presents a list of all the reputed companies operating in the electronic health records market. They are as follows:

• Medical Information Technology, Inc. (MEDITECH)
• Cerner Corporation
• MEDHOST
• Epic Systems Corporation
• eClinicalWorks
• CareCloud Corporation
• Allscripts Healthcare, LLC
• NextGen Healthcare
• Athenahealth
• Other prominent market players

Major Points in TOC:

• Global Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Product
    • Web-based
    • On premise
  • Market Analysis, Insights and Forecast – By Type
    • Stand-alone
    • Integrated
  • Market Analysis, Insights and Forecast – By End User
    • Physician’s Office
    • Hospitals
    • Others
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
• North America Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis – By Product
    • Web-based
    • On premise
  • Market Analysis – By Type
    • Stand-alone
    • Integrated
  • Market Analysis – By End User
    • Physician’s Office
    • Hospitals
    • Others
  • Market Analysis – By Country
    • U.S.
    • Canada
• Europe Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis – By Product
    • Web-based
    • On premise
  • Market Analysis – By Type
    • Stand-alone
    • Integrated
  • Market Analysis – By End User
    • Physician’s Office
    • Hospitals
    • Others
  • Market Analysis – By Country / Sub Region
• Asia Pacific Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis – By Product
    • Web-based
    • On premise
  • Market Analysis – By Type
    • Stand-alone
    • Integrated
  • Market Analysis – By End User
    • Physician’s Office
    • Hospitals
    • Others
  • Market Analysis – By Country / Sub Region
• Latin America Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis – By Product
    • Web-based
    • On premise
  • Market Analysis – By Type
    • Stand-alone
    • Integrated
  • Market Analysis – By End User
    • Physician’s Office
    • Hospitals
    • Others
  • Market Analysis – By Country / Sub Region
    • Brazil
    • Mexico
    • Rest of Latin America
• Middle East & Africa Electronic Health Records (EHR) Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Analysis – By Product
  • Market Analysis – By Type
  • Market Analysis – By End User
  • Market Analysis – By Country / Sub Region
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
• Competitive Analysis
  • Key Industry Developments
  • Global Market Share Analysis (2018)
  • Competition Dashboard
  • Comparative Analysis – Major Players
  • Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
    • Epic Systems Corporation
    • Cerner Corporation
    • Allscripts Healthcare, LLC
    • Medical Information Technology, Inc. (MEDITECH)
    • Athenahealth
    • eClinicalWorks
    • NextGen Healthcare
    • MEDHOST
    • CareCloud Corporation
    • Practice Fusion
• Strategic Recommendations

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