FMI Analyzes Impact of COVID-19 on Electronic Medical Records Market; Stakeholders to Focus on Long-term Dimensions
VALLEY COTTAGE, N.Y. – Future Market Insights offers a 10-year forecast of the global electronic medical records market between 2015 and 2025. In terms of value, the market is expected to register a CAGR of 5.6% during the forecast period. This study demonstrates market dynamics and trends in all seven regions that are expected to influence the current environment and future status of the electronic medical records market over the forecast period.
This Future Market Insights report examines the electronic medical records market for the period 2015–2025. The primary objective of the report is to offer insights into developments in the electronic medical records market that are significantly helping transform the healthcare industry into a more integrated and digitised industry.
The global electronic medical records market report begins by defining ‘EMR’ and its types. It also lists the various end users opting for EMR technology. This is followed by an overview of the global electronic medical records market. The overview section includes FMI’s analysis of the key trends, drivers, restraints, trends and opportunities that are influencing growth of electronic medical records market currently. Impact analysis of the key growth drivers and restraints based on the weighted average model has also been included in the ‘global electronic medical market report’ to better equip customers and readers with region specific trends and insights.
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The primary driving factors for the electronic medical record market are significant increase in the number of chronic infectious diseases and increasing need of patient health information exchange in hospitals, clinics and laboratories to facilitate faster decision making within a short time period. Furthermore, increase in demand for automated data management and quality care of patients by reducing hand-written records and errors has also triggered growth of the global electronic medical record market. Research indicates that there is a growing need from patients to access and share their health information with their physicians. Secondly, there is also an increasing need to automate the entire treatment procedure, starting from booking of the appointment till the end of the treatment session. These factors have been fuelling demand for electronic medical records in hospitals and clinics. The primary factors hampering growth of the EMR market are rising cost of implementing EMR software and lack of experienced healthcare IT professionals to integrate and analyse data from various sources for producing digitised records at the proper time.
On the basis of products, the global electronic medical record market is segmented into hospital EMR and ambulatory EMR. Furthermore, the market is also segmented based on end user into hospitals, general physician clinics, specialized clinics and ambulatory surgical centres. A detailed analysis of all the categories of end users has been provided in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
The report has been segmented based on components into software and services. It is also segmented based on deployment mode into client server setups, cloud based and hybrid EMR. A deep analysis, along with the market attractiveness index of each of these categories, has been provided in the report.
The next section of the report highlights the electronic medical record market by region. It provides the market outlook for 2015–2025 and sets the forecast within the context of the electronic medical record market. The study discusses the key regional trends and contracts contributing to growth of the electronic medical record market worldwide, as well as analyses the extent to which the drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa.
The above sections – by product, end user, component, deployment mode and region – evaluate the present scenario and growth prospects of the electronic medical record market for the period 2015 –2025. We have considered 2014 as the base year and provided data for the forecast period, i.e. 2015 – 2025.
To ascertain size of the electronic medical record market, we have also considered revenue generated by EMR software developing companies. The forecast presented here assesses the total revenue generated across the electronic medical record market globally over the forecast period. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the electronic medical record market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis, i.e. by supply side, downstream industry demand and the economic envelope.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse based on key parameters, such as Year-On-Year (Y-o-Y) growth rates, to understand the predictability of the market and to identify the right opportunities in it.
The electronic medical record market segments in terms of products, deployments, components, end users and regions are analysed on the basis of their respective Basis Point Share (BPS) to understand the individual segment’s relative contribution to market growth. This detailed level of information is important for the identification of various key trends in the electronic medical record market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the electronic medical record market.
To understand key growth segments, Future Market Insights developed the electronic medical record market ‘Attractiveness Index’. The resulting index helps providers to identify real market opportunities.
In the final section of the report on the EMR market, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view, to access the key differentiators among the competitor firms. Key categories of providers covered in the report are EMR software and service providers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the EMR value chain and the potential players with regard to the same. However, this section also includes market strategies and SWOT analysis of the main players in the market.
Detailed profiles of the healthcare IT companies are also included in the scope of the report to evaluate their long-term and short-term strategies. Some of the key players in the market include Cerner Corporation, Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Medical Information Technology, Inc., Computer Programs and System Inc., Allscripts Healthcare Solutions, Inc. and McKesson Corporation.
Key Segments Covered
- By Product
- By End Use
- General Physician Clinics
- Specialised Clinics
- Ambulatory Surgical Centres
- By Components
- By Delivery Mode
- Client Server Setups
- Cloud-based Setups
- Hybrid Setups
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Key Regions/Countries Covered
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Greater China
- Australia and New Zealand
- Rest of APEJ
- Middle East & Africa
- South Africa
- Rest of MEA
- Cerner Corp
- McKesson Corporation
- Medical Information Technology
- Epic Systems Corporation
- Greenway Health, LLC,
- NextGen Healthcare Information Systems, LLC
- Computer programs and system Inc.
- Allscripts Healthcare Solutions, Inc.
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