Electronic Health Records (EHR) Market Value to Hit $ 33,294 Mn by 2023 : Allied Market Research

"There is little investment in infrastructure and maintenance, so cloud-based EHR usage will increase significantly. This will increase the adoption of cloud-based EHR."

New report published "Electronic Health Records (EHR) Market by Product, Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023", The global EHR market was valued at $23,592 million in 2016, and is expected to reach $33,294 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023.

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An electronic health record (EHR) is a patient-centered, real-time health record that contains all the information related to a patient's medical history. They have immediate access to the patient's health record to authorized users.

Increased adoption of EHR, increased use of cloud-based EHR software, aging population, increased chronic disease. However, the high cost of EHR and increased patient data are expected to hamper market growth. In addition, market growth is expected to increase during the forecast period.

Product-based server-based EHR software is expected to remain in market dominance by 2016 and is expected to grow in the future. Supplier.

Based on type, the inpatient EHR segment held the major market share in 2016 and is expected to dominate the market throughout the forecast period as can integrate data of lab, pharmacy, x-ray, billing systems and many other hospital departments so that data consistency is maintained while sharing patient information between each of the various hospital departments.

Key Findings of the Electronic Health Records (EHR) Market:

• The cloud-based software segment accounted for more than two-fifths share in the global market.
• Ambulatory EHR is expected to be the fastest growing technology with a CAGR of 5.6%.
• The hospitals segment held a major share of more than two-fifths of the global market in 2016 and is expected to retain it throughout the forecast period.
• Clinical application segment occupied one-third share of the global market in 2016 and is expected to retain it throughout the forecast period.
• Asia-Pacific is expected to be the fastest growing region, registering a CAGR of 6.5% during the forecast period.
North America accounted for nearly half of the global market in 2016 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in adoption of information technology in the healthcare industry, increasing baby boomer population, increasing demand for better healthcare, and increasing demand for interoperable medical devices/solutions. Moreover, government support and presence of highly sophisticated healthcare infrastructure are expected to present new growth opportunities to the players in this market.

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