EHR-EMR Market Driven by Growing Demand for Electronic Data Sharing in Healthcare Industry
The global EHR-EMR (Electronic Health Records and Electronic Medical Record) Market is expected to exhibit a strong 5.82% CAGR over the forecast period from 2018 to 2027, according to the latest research report from Market Research Future (MRFR). The global EHR-EMR market is expected to rise to a valuation of USD 42,427.27 million by 2027, according to the report.
The Global Electronic Health Records/Electronic Medical Records Market is mainly propelled by the growing demand from healthcare institutions for electronic data storage. Electronic data storage allows hospitals to record larger volumes of data easily, as well as being able to send and share the data with other healthcare institutions and patients alike more easily. The increasing need for app-based medical data sharing with patients is likely to be a major driver for the global EHR-EMR market over the forecast period. Increasing government support for permanent data collections in the healthcare sector is likely to be a major driver for the global EHR-EMR market over the forecast period.
On the other hand, increasing concerns about data security and awareness about the various ways in which EHR-EMR systems can compromise data are likely to remain a major restraint against the global EHR-EMR (Electronic Health Records and Electronic Medical Record) Market Growth over the forecast period. In 2019, groups such as the American Medical Association and the American College of Obstetricians and Gynecologists warned against regulations to make mobile app-based sharing of medical information easier. These regulations are intended to make it easier for people to view medical information digitally on third party apps. However, moving medical information to third party apps removes federal privacy protections, which is a key concern for the dissenting organizations.
Competitive Analysis:
Leading players in the global EHR-EMR market include
- MEDITECH,
- Epic Systems,
- Agastha Inc.,
- Koninklijke Philips N.V.,
- Meddbase,
- eClinicalWorks,
- AdvancedMD Inc.,
- Athenahealth Inc.,
- Advanced Data Systems Corporation,
- Cerner Corporation,
- Allscripts Healthcare Solutions,
- GE Healthcare
Major players in the global EHR-EMR market are profiled in the report, along with an analysis of the major tactics and strategies adopted by them.
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Segmentation:
The global EHR-EMR market has been segmented on the basis of components, application, mode of delivery, end user, and region.
By components, the market has been divided into software, services & consulting, and hardware.
Based on the application, the market has been segregated into specialty-based and general applications.
Based on the mode of delivery, the market has been bifurcated into on-premise model and cloud-based. On-premise models currently dominate the global EHR-EMR market and are likely to remain in the lead over the forecast period. However, the cloud segment has caught up rapidly in the last few years and is likely to vie for the top spot in the market.
By end-user, the market has been classified as forensic science laboratories and hospitals.
Regional Analysis:
The global EHR/EMR market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas hold the dominant share in the global EHR/EMR market and are likely to remain in the lead over the forecast period due to the strong performance of the market in North America. The Americas market for EHR/EMR systems is expected to rise to a strong valuation of USD 21,307.35 million by 2027, accounting for almost half the global EHR/EMR market. The growing adoption of electronic healthcare records in North America is the major driver for the Americas market for EHR/EMR systems over the forecast period. Technological advancement in North America has resulted in the availability of advanced and differentiated EHR/EMR systems in the region. Various product types in the EHR/EMR market have been invented in North America. This has driven the EHR/EMR market in the region at a strong pace.
Europe is also an important regional market for EHR/EMR systems and is likely to hold on to an important share over the forecast period.
Asia Pacific is likely to exhibit the highest growth in the global EHR/EMR market over the forecast period.
The Middle East and Africa is likely to retain the smallest share in the global EHR/EMR market over the forecast period.
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