Electronic Health Records Market value will cross $38000 Million by 2025

Canada electronic health records market surpassed USD 1,144.0 million in 2018 and is expected to witness significant CAGR from 2019 to 2025 owing to increasing investment and expenditure on healthcare information technology.

Selbyville, United States – May 3, 2019 /MarketersMedia/ —

Australia electronic health records market is forecast to grow at 8.5% CAGR throughout the projected timeframe. Australian healthcare system is witnessing increasing collaborations among healthcare facilities and government bodies for adoption of EHR. For instance, in February 2018, the largest pathology laboratories of Australia signed collaborative agreement with Australian Digital Health Agency to join for the national electronic health record program. Such initiatives will aid in the expansion of Australian electronic health record (EHR) industry.

Global electronic health records market is set to exceed USD 38000 million by 2025; according to a new research report by Global Market Insights, Inc. Rising adoption of electronic health record will augment electronic health records industry growth in the upcoming period. Numerous emerging countries are recognizing the importance and benefits of electronic health records and increasingly investing in such technology. EHR offers enhanced patient care and management along with significant cost savings. EHR assists the practitioner in management of patient data and streamlines workflow that should positively impact EHR market.

Cloud/web based electronic health records segment held major revenue share of over 48% in 2018. Cloud-based EHR offers on-demand access to information technology services. Such systems reduce hardware costs and maintenance costs. Thus, superior benefits and shifting paradigm from on-premise EHR to web-based EHRs, will spur the segmental growth in the foreseeable future.

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Practice management application segment is estimated to grow at 5.5% CAGR during the forecast period. Practice management offers the physician to overlook appointments, revenue cycle and other features in on place. Automation of physicians functions through digital platforms, offering high convenience will serve to be a high segmental growth impacting factor over the coming period.

Patient management segment of electronic health records market is estimated to progress at 6% CAGR during the forecast timeframe. EHR offers systematic and timely scheduling of patient data. It enables safe and reliable documentation with time-effectiveness. In addition, flexibility of management of vast data points regarding the patient will offer momentous growth opportunity for patient management EHR application market.

Specialty centers end-use segment was valued at USD 3.6 billion in 2018. Many companies are involved in the development of distinct EHR platforms for specialty centers. Such EHRs meet the differentiated and critical needs of specialty centres. Thus, development and launch of enhanced electronic health records will assist specialty centers electronic health record end-use segment growth.

U.S. electronic health records market will foresee robust growth at over 5.0% CAGR in the forecast timeframe. Growing adoption of EHR in the U.S. across all physicians and healthcare providers will pose to be high U.S. EHR market growth rendering factor. High internet penetration and availability of investment will accelerate EHR adoption rate. Furthermore, increasing spending on healthcare IT will boost U.S. electronic health records market size in the coming period.

UK EHR market is forecast to witness over 4.5% CAGR throughout the projected timeframe. Wide accessibility of EHR in UK will increase the demand for EHR in the country. Numerous providers of EHR in the UK are focusing on development and advancement of EHR. Moreover, high awareness regarding benefits of electronic health record will expand UK market growth.

Few notable players operating in global electronic health records market are Allcripts, Cerner, eClinicalWorks and Epic among the other industry players. These players are focusing on introducing and expanding novel technologies to fortify their offerings.

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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/ehr-market

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Source: MarketersMedia

Release ID: 508895