Electronic Health Records Market Is Expected To Garner A Market Value Of US$ 26.78 Billion In 2022

A recently published study by Fact.MR projects that the global electronic health records market is expected to flourish at a CAGR of 4.5% from 2022 to 2032, reaching US$ 41.8 Bn by the end of the aforementioned assessment period. Extensive digitization of healthcare brought about by complicating patient care and workflows is driving market demand.

The introduction of EHRs for medical coding and billing has eased the process as data entering into computerized systems is more convenient than paper-based methods. EHRs also minimize the risk of errors in patient data as well as financial details. As per the University of Michigan, the cost of outpatient care was reduced by 3% upon shifting to EHRs from paper-based records. This reduction resulted in USD 5.14 savings per patient per month. Additionally, M&A activities by market players are also boosting market growth.

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Key Market Segments in Electronic Health Records Industry Research

By Product

Client-server-based EHR
Web-based EHR

By Type

Acute Electronic Health Records
Ambulatory Electronic Health Records
Post-acute Electronic Health Records

By End Use

Electronic Health Records for Hospital Use
Electronic Health Records for Ambulatory Use
Physician's Clinic
Laboratories
Pharmacy

By Business Model

Licensed Electronic Health Records Software
Electronic Health Records Technology Resale
Electronic Health Records Subscriptions
Electronic Health Records Professional Services
Other Electronic Health Records Business Models

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Market Competition

Some prominent players in the market for electronic health records are Cerner Corporation (Oracle); GE Healthcare; Allscripts Healthcare, LLC; McKesson Corporation; Epic Systems Corporation; NextGen Healthcare, Inc.; eClinicalWorks; Medical Information Technology, Inc.; Health Information Management Systems; CPSI; AdvancedMD, Inc.; CureMD Healthcare; Greenway Health, LLC. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:

In December 2021, Oracle acquired Cerner Corporation for a value of USD 28.3 billion. This acquisition strengthened Oracle's position in the EHR Market, as Cerner was a leading player in the space.

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The Electronic Health Records Market report addresses the below-mentioned queries:

Why are vendors shifting away from traditional methods of manufacturing Electronic Health Records Market?
How the global Electronic Health Records Market does looks like in the next five years?
Which end use industry is expected to surpass segment by the end of 2029?
What innovative products are being introduced by the players in the global Electronic Health Records Market?
Which regions are showing the fastest Electronic Health Records Market growth?

Crucial insights in the Electronic Health Records Market research:

Underlying macro- and microeconomic factors impacting the growth of the Electronic Health Records Market Basic overview of the Electronic Health Records Market including market definition, classification, and applications.
Scrutinization of each Electronic Health Records Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Electronic Health Records Market across various industries.
Important regions and countries offering lucrative opportunities to Electronic Health Records Market stakeholders.

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