Electronic Health Records (EHR) Market Size to be worth USD 37.13 Billion by 2027 | 3M, Siemens Medical Solutions, McKesson Corporation
Pune, Maharashtra, India, January 14 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Global Electronic Health Records Market is valued at USD 24.82 Billion in 2018 and expected to reach USD 37.13 Billion by 2025 with the CAGR of 5.92% over the forecast period
Increasing need to improve the safety or quality of healthcare delivery and increased used of healthcare settings in medical environment is expected to grow the electronic health records market.
Scope of The Report:
An Electronic Health Record (EHR) is an electronic version system which is maintained by healthcare professionals and it includes combination of administrative data such as demographics, progress notes, problems related to medications, past medical history, laboratory data and radiology reports. EHR contains real time patient centered record that make the information available more securely and immediately to authorize users. EHR is aimed at improving better management care for patients by providing accurate, up-to-date, and appropriate information about patients at the point of care. It assists to diagnose patients with fewer amounts of errors, more reliable prescribing and reduces the cost through decreased paperwork, improved safety and improved health. An EHR gives patients a great deal of convenience where patients can fill out their intake forms electronically from their home or from anywhere else. For example; specialized EHR software offers quick data entry recovery for all patients in every treatment scenarios.
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Electronic health records market report is segmented on the product, application, end-users and regional & country level. Based upon product, electronic health records market is segmented into cloud-based software and on-premise software. On the basis of applications, the market is segmented into clinical application, administrative application, reporting in healthcare system, healthcare financing, and clinical research application. Furthermore, based upon end user electronic health records market is segmented into hospitals, clinics, specialty centers, and others.
The regions covered in this Electronic Health Records Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Electronic Health Records Market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Electronic Health Records Companies
Some major key players for electronic health records market are,
3M Company Toshiba Medical Systems Corp. Hyland Software Siemens Medical Solutions McKesson Corporation Henry Schein, Inc. Allscripts Healthcare Solutions, Inc. WRS Health Medical Information Technology, Inc. (Meditech) Cerner Corporation Quest Diagnostics GE Healthcare Epic Systems SequelMed Kofax Limited Others
Increasing Diabetic Patient Population and Growing Need Of Monitoring Patient’s Safety is Expected to Fuel the Global Electronic Health Records Market Growth.
The key factors driving the growth of electronic health records are growing need for improving health record portability, immediate accessibility of accurate billing & coding and increasing complexity of handling administrative records. For example; primary-care physicians have realized that, EHR has usually led to improve quality of care with nearly 63% and most of them are satisfied with their current EHR systems. For example; American Hospital Association (AHA) and AHA Annual Survey Information Technology reported that, in 2017, around 94% of hospitals used electronic clinical data from their EHR system and they have realized that EHR system is largely being implemented in order to support quality improvement with nearly 82% and monitor the patient’s safety with 81%. In addition, the government bodies are significantly passed some requirements regarding the required use of electronic records or else they must face monetary penalties. However, various certification and license needed for installation of EHR software as well as data privacy issues are arises during operations and this can turn out to be one of the restraining factors of this market. New innovative EHR technology will help in the interoperable applications and work intelligently upon complex healthcare information, all of which can offer lucrative opportunities for EHR market in the coming years.
North America is Expected to Dominate the Global Electronic Health Records Market.
North America is accounted for the largest share in electronic health record market owing to continuous progress in healthcare facilities in this region for last few years. Additionally, increasing expansion of healthcare IT infrastructure for better quality of care is also driving the adoption of electronic health record market in this region. For example; with more than 75% office based clinicians and around 96% of hospitals based in the U.S. are using EHR systems. In 2017, across the U.S. 99% of large, 97 % of medium, and 93 % of small rural non-federal hospitals had a certified EHR system in operation. Europe is the second most leading region for EHR followed by Asia pacific due to European countries have increasingly promoted the development of EHR systems and several government organizations aimed at improving the patient’s safety.
Electronic Health Records Market Segmentation:–
By Product: Cloud-Based Software, Server-Based/ On-Premise Software
By Type: Inpatient EHR, Ambulatory EHR
By Application: Clinical Application, Administrative Application, Reporting in Healthcare System, Healthcare Financing, Clinical Research Application
By End User: Hospital, Clinics, Specialty Centers, Other End Users
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