Electronic Health Record (EHR) Market Emerging Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2025
Market Study Report adds 2019-2025 global electronic health record market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
Canada electronic health record market accounted for over USD 1,144.0 million in 2018. Implementation of pan-Canadian EHR initiative will augment the adoption of electronic health record in the country. Also, increasing investment and expenditure on healthcare information technology will play a pivotal role in boosting Canadian electronic health record industry growth.
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Australia electronic health record market is forecasted to grow with more than 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.
Electronic Health Record Market will reach over USD 38.3 billion by 2025; as per a new research report. Growing investment and funding for electronic health records along with increasing support for research from health information exchange organization (HIO) will spur electronic health record (EHR) industry growth. Increasing number of healthcare providers and Health Information Exchange Organizations (HIEs) are assisting the adoption of EHRs including some other healthcare IT solutions. Furthermore, worldwide recognition of the importance to implement EHR to streamline and improve workflow will offer attractive market growth opportunity in the coming years.
Presence of national strategies to implement EHR should stimulate electronic health record business growth. Many countries are moving ahead from local to national implementation of electronic health records to enhance patient care. The adoption of EHR in majority of U.S. states significantly rose since the implementation of federal regulations to deploy such technology across healthcare facilities. Thus, such programs and policies will accelerate EHR adoption rate over the coming years.
However, high investment in installation of EHR may hamper electronic health record industry growth over the projected timeframe. Cloud/web based electronic health record 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.
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.
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.
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Few notable players operating in global electronic health record market are Epic, Cerner, eClinicalWorks, Allscripts Healthcare Solutions, Inc. and NextGen Healthcare. Major players are undertaking strategic decisions such as partnerships and product differentiation to earn profits in the EHR industry.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Electronic Health Record (EHR) Industry Insights
Chapter 4. Electronic Health Record (EHR) Market, By Product
Chapter 5. Electronic Health Record (EHR) Market, By Application
Chapter 6. Electronic Health Record (EHR) Market, By End-use
Chapter 7. Electronic Health Record (EHR) Market, By Region
Chapter 8. Company Profile
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