Global EHR-EMR Market Worth may Elevate to US $ 120 Bn by 2027 due to Growing Role of IT in Healthcare Sector
The scope of the EHR-EMR Market report includes a detailed study of global and regional markets of EHR-EMR Market with the reasons given for variations in the growth of the industry in certain regions with industry recent size, share, demand forecast to 2027.
Pune, India – April 29, 2019 /MarketersMedia/ —
Market Research Future include new market research report Global EHR-EMR Market . This report studies the Global EHR-EMR Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Global EHR-EMR Market by companies, region, type and end-use industry.
The Global Electronic Health Record (EHR) Electronic Medical Record (EMR) Market can expect a surge in its market valuation from USD 70 billion to USD 120 billion by 2023. Market Research Future (MRFR) reports that a CAGR of 10.9% the EHR-EMR market can attain during the forecast period (2017-2023). The report further encompasses market influencers such as IT integration and simplification of service in healthcare. Increasing volume of medical records needs proper maintenance and easy access which IT is solving and giving a tailwind to EHR-EMR market.
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The global EHR-EMR market is primarily driven by an increase in the volume of medical records which requires proper management and storage. EHR-EMR provides the advantages of better accessibility, improved communication, data aggregation, and integration. EHR-EMR also lower staffing requirements and thus reduce health care costs, also reducing the scope of human errors. It is on account of these advantages that the global EHR-EMR market is proliferating. Technological advancements in EHR-EMR technology such as Blockchain, Byod, Artificial Intelligence, Opensource fuel the growth of the market. Cloud-based solutions also provide growth opportunities. Small healthcare providers who cannot make up-front investments are opting for free and web-based services which also eliminates the need for infrastructure and maintenance. Government funding is a crucial driver of the market. Governments in various economies are funding projects to automate health record systems which induce the demand for EHR-EMR. The growth of the healthcare and life-sciences industry also reflect positively on the EHR-EMR market.
Observing the market structure, this report presents insights about factors affecting the market growth. Calculating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include mergers and acquisitions, joint ventures, new product developments, research and developments (R&D), and strategic alliances.
The essential factors that are assisting the growth of the global EHR-EMR market are easy healthcare delivery, the growing role of information technology (IT) in the healthcare sector, increasing number of patients getting admitted in hospitals, the increasing volume of medical records, maintaining the quality of health-records, and replacement of paper records by electronic records. Technological and scientific innovations are also helping the market growth.
Industry Updates:
20 DEC 2018 Mid-Valley Hospital in Washington is set to go live with a Cerner EHR implementation across its facilities to improve care quality.
21 NOV 2018 Apple Inc is in talks with the Department of Veterans Affairs to provide portable electronic health records to military veterans, a partnership that would not only simplify patients’ hospital visits but would also allow Apple Inc to tap millions of new customers.
Ochsner Health System and Bon Secours Mercy Health are large health systems that are planning on customizing EHR-EMR to gain the most by managing opioid addiction of patients. Opioid addiction is raising quite a few eyebrows where this new method can help substantially.
EHR coordination is becoming a challenge as different hospitals are using different software. To counter that Redivus is developing one for Saint Luke to make it easier for all to comprehend the situation and come to the same page before taking decisions.
Key Players for Global EHR-EMR Market
The Global EHR-EMR Market is highly competitive and is characterized by the presence of a few established players. Many new entrants are keen on entering the market, and the existing players are implementing various strategies such as partnerships, mergers, acquisition, product launches, etc. to sustain their market position. Notable players in the market include Cerner Corporation (U.S), Allscripts (U.S), General Electric Company (U.S), McKesson Corporation (U.S), Epic Systems Corporation (U.S), QSI Management, LLC (U.S), eClinicalWorks (U.S), and Greenway Health, LLC (U.S).
Segments for Global EHR-EMR Market
The global EHR-EMR market has been segmented based on component type, application, mode of delivery, and end user.
By component type, the global EHR-EMR market has been segmented into hardware and software.
By application, the global EHR-EMR market has been segmented into specialty-based and general applications.
Type-wise segmentation of the global EHR-EMR market includes traditional, speech-enabled, interoperable, and others.
By mode of delivery, the global EHR-EMR market has been segmented into cloud-based, on-premise model, and hybrid.
By end user, the global EHR-EMR market has been segmented into hospitals & clinics, ambulatory care, hospital-owned, and diagnostic centers.
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Regional Analysis for Global EHR-EMR Market
The region-specific detailing of the EHR-EMR market includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas has the most substantial share of the global EHR-EMR market. The position can be attributed to world-class infrastructure, state-of-the-art facilities and increasing healthcare investment. Furthermore, the regional EHR-EMR market is enjoying the presence of several market influencers who are operating from the region and the number of super specialty hospitals where EHR-EMR can find easy access.
Europe is assuming the second spot where patient engagement in healthcare has increased over time, and administration facilities are gaining prominence. Europe market is getting followed by the APAC market. Many countries are revamping healthcare sector which also is acting like a significant EHR-EMR market booster
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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