Electronic Health Record Market 2023 by Key Players Analysis - McKesson, Cerner Corporation, EPIC Systems, athenahealth, Quality Systems, Inc

the global EHR market size is projected to cross $30.4 billion by 2023, growing at a CAGR of 5.4% during the forecast period. The market is mainly driven by the increasing need for advanced healthcare information system, growing investments by healthcare IT players, rising demand for better healthcare facilities, and increasing government initiatives.

*Explore report sample at: http://bit.ly/2iWc8W3

Currently government in many countries has been working on building up an electronic health record that can be used to track the safety of regulated drugs and any adverse reactions related to these drugs. For instance, USFDA has requested for $100 million for the fiscal year 2019, for an EHR initiative, to evaluate the safety of drugs regulated by it. The pilot study of the organization will work on the USFDA Adverse Events Reporting System (FAERS) and will utilize Center for Drug Evaluation and Research (CDER) database. Researchers will analyze data with a data mining and data visualization method, developed and evaluated by the EHR system. Using this system, patients and healthcare providers can have an idea of the current stages of drugs and their clinical trials, and what results were obtained from these trials. Owing to this, there has been an increasing demand for EHR systems.

With the growing popularity of cloud-based services and wireless connectivity in the healthcare sector, there has been a substantial increase in the usage of handheld devices among healthcare professionals and patients, globally. This, in turn, has raised concerns over the security of patient information, which is one of the key challenges faced by EHR vendors. Unauthorized access to such systems may put critical information at risk of potential destruction and manipulation. In addition, the threat posed by computer viruses is also increasing, affecting the proficiency of EHR systems. For instance, with the intrusion of such viruses, the server becomes slow, data retrieval gets affected, and, in many cases, there are chances of losing critical data. Thus, the potential risk to private information due to low security is limiting the growth of the EHR market.

*Browse report with detailed TOC on “EHR Market” at: http://bit.ly/2l5wIV1

Geographically, the market in Europe has been witnessing growth on account of the increasing adoption of EHR solutions, introduction of regulations related to EHR adoption, surging geriatric population, and rising incidence of cardiovascular diseases and neurological disorders. With the introduction of the Healthcare Information System Act in April 2011, the Polish government launched a plan for the introduction of a national EHR system. The act provided for the creation of a medical information system (MIS) to allow access to patient information available in the electronic form. In March 2011, the Italian Ministry of Health released guidelines on EHR and on related.

*Pre-Purchase Inquiry at: http://bit.ly/2BpGpDw

The global electronic health record market is consolidated, with top three players—Epic Systems Corporation, Cerner Corporation, and Medical Information Technology Inc. (MEDITECH)—collectively accounting for majority of the shares in the market. This can be attributed to their global reach and brand recognition among the healthcare providers, payers, and consumers. As part of business strategy, MEDITECH, in June 2017, launched a Web EHR integrated with M*Modal Fluency Direct, a speech-driven, single documentation platform, which enables physicians to dictate directly into their documentation. Cerner Corporation’s spending on R&D in 2007 was $283 million, which increased to $706 million by 2017, which is indicative of the company’s notable market share.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
347 5th Ave. #1402- 210
New York City, NY 10016 United States
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.