Electronic Health Records Market Size Report, New Business Strategies, Future Trends and Forecast From 2021 to 2028 - Allscripts Healthcare Solutions, Inc., McKesson Corporation

The electronic health record (EHR) market was valued at US$ 14,054.05 million in 2020 and is projected to reach US$ 20,318.02 million by 2028; it is expected to grow at a CAGR of 4.9% during 2021–2028.

EHRs are patient-centered and real-time digital records that make patient data available instantly and securely to authorized healthcare professionals. The record comprises information regarding patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. The factors such as the increasing adoption of EHRs, rising incentives by federal government, and growing incidences of medication errors drive the growth of the electronic health record (EHR) market.

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Top Leading Market Players
Cerner Corporation, Computer Programs and Systems, Inc., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, eClinicalWorks, Greenway Health, AdvancedMD, Inc., and CureMD Healthcare are among the major companies operating in the market.
Market Insights
Growing Incidences of Medication Errors
A medical error is a nightmare scenario that no physician or medical practice wants to face. While most healthcare professionals and many consumers/clients/patients realize that doctors are human beings and sometimes make mistakes, most take measures to ensure accuracy in all aspects of a patient care scenario. Yet, unfortunately, thousands of people do experience some form of medical errors and even preventable deaths on an annual basis. According to a recent study performed by Johns Hopkins, medical errors are now ranked as the third contributing cause of death in the US. Alarmingly, based on data accumulated during the eight-year study, medical errors contribute to approx. 250,000 deaths annually.
Another study by the CDC emphasized that adverse drug events alone cost over US$ 3 billion a year. As of 2014, adverse drug events were the sixth leading cause of death on a national basis. The focus for today is catching potential errors before they happen, especially medication errors that can prevent through medication reconciliation.

Today's EHR systems support automated artificial intelligence, sometimes sifting through massive patient care files. For example, not long ago, a patient with a chronic condition might have a paper record composed of hundreds of pages. Today, an EHR system can quickly sift through data to analyze current and past prescriptions, laboratory tests, treatment plans, diagnoses, medical procedures, and even foods that a patient should stay away from when taking certain medications before or following medical treatment or procedure.

These statistics emphasize that most such medical errors are not implied to be caused by the lack of concern, inattentiveness, or outright misconduct on the part of physicians, but rather the often-confusing lack of communication and access to complete medical records and histories.

The development of electronic health record/electronic medical record technologies can serve to reduce medical errors through more coordinated care enhanced by data sharing and immediate accessibility by any member of a patient's health care team.

The report segments global electronic health record (EHR) market as follows:

By Installation Type
• Cloud-Based
• On-Premise
By Type
• Acute EHR
• Ambulatory EHR
• Post-Acute EHR
By End User
• Hospitals
• Diagnostic and Imaging Centers
• Ambulatory Care Centers
• Pharmacies
By Geography
• North America
o
 US
 Canada
 Mexico
• Europe
o
 France
 Germany
 UK
 Spain
 Italy
 Rest of Europe
• Asia Pacific (APAC)
o
 China
 India
 Japan
 Australia
 South Korea
 Rest of Asia Pacific
• Middle East & Africa (MEA)
o
 Saudi Arabia
 UAE
 South Africa
 Rest of Middle East & Africa
• South and Central America (SCAM)
o
 Brazil
 Argentina
 Rest of South and Central America

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Major questions addressed through this global research report:
1. What are the demanding sectors for driving this global Electronic Health Record (EHR) market?
2. Which are the major key players and competitors?
3. What will be the market size of the global market?
4. Which are the recent advancements in the global Electronic Health Record (EHR) market?
5. What are the restraints, threats, and challenges in front of the market?
6. What are the global opportunities in front of the market?
7. How digital footprint helps to expand the business structure and economic outcomes?
Table of Content (TOC):
Chapter 1 Introduction and Overview
Chapter 2 Industry Cost Structure and Economic Impact
Chapter 3 Rising Trends and New Technologies with Major key players
Chapter 4 Global Electronic Health Record (EHR) Market Analysis, Trends, Growth Factor
Chapter 5 Electronic Health Record (EHR) Market Application and Business with Potential Analysis
Chapter 6 Global Electronic Health Record (EHR) Market Segment, Type, Application
Chapter 7 Global Electronic Health Record (EHR) Market Analysis (by Application, Type, End User)
Chapter 8 Major Key Vendors Analysis of Electronic Health Record (EHR) Market
Chapter 9 Development Trend of Analysis
Chapter 10 Conclusion

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