India Electronic Health Records Market Growing Trade Among Emerging Economies Opening New Opportunities (2023-2028)

The India Electronic Health Records Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global India Electronic Health Records market. This report explores all the key factors affecting the growth of the global India Electronic Health Records market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the India Electronic Health Records Market Analysis

Research Scope and Assumption

The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
Inflation has not been accounted for in order to estimate and forecast the market
Numbers may not add up due to rounding off

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Facilitate decision-making based on strong current and forecast data for India Electronic Health Records Market Analysis
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Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the India Electronic Health Records Market Analysis
Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
To strategically profile key players and comprehensively analyze their market shares and core competencies
We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

India Electronic Health Records Market Analysis Executive Summary

The Indian electronic health records (EHRs) market, which accounted for approximately 9% of the Asia-Pacific (APAC) EHR market in 2018, is expected to grow at a compound annual growth rate (CAGR) of 5% through 2025. Indias plan to digitize its healthcare system with interoperable electronic health records (EHRs) will further drive the countrys EHR market, says Global Data, a leading data and analytics company.

Market Size and Key Findings

The India Electronic Health Records Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 5% during the forecast period.

As India moves to implement a universal healthcare programme for its billion residents, the electronic health records (EHR) market is tipped to grow at a robust compound annual growth rate (CAGR) of 5% through 2025, according to a report from data and analytics company Global Data.

Market Dynamics

Market Growth Drivers Analysis

EHR systems are convenient for use in pharmacies, small-scaled laboratories, and clinics, as they require limited hardware infrastructure, which reduces the cost of installation. Electronic Health Records (EHR) vendors and organizations have initiated to help in curbing the pandemic by making telehealth a mainstream alternative, enhancing data access through EHRs, and collaborating to develop Covid-19 dashboards in detail.

The introduction of electronic health records for medical coding and billing has eased the process as data entering into computerized systems is more convenient than paper-based methods.

Large hospitals which have implemented and integrated the EHR to the core functions of the hospitals are realising the benefits. The streamlined process reduces or blocks the revenue leaks across the value chain. The long-term usage of EHR will lead to reduction in cost by reducing the administrative expenditure and increase in data accuracy.

With help of EHR, Doctors are able to treat the patients better with easy and accurate data accessibility. The collection of clinical data at the point of care enhances the efficiency and improves the data quality. The pharmaceutical companies and regulatory authorities use the collected data to improve the post marketing surveillance PMS of drugs. The patients receive better and greater reimbursements. In summary, EHR reduces revenue leaks, increases patient satisfaction and increases the efficiency of the process through technology.

Market Restraints

Lack of awareness, high initial investment, scarcity of trained staff and lack of mandatory guidelines to store healthcare records electronically are a few of the major barriers for low adoption of EHR in India.

COVID-19 impact on "India Electronic Health Records Market Analysis

During the COVID-19 era, efforts being made to deliver patient care and research were accelerated. Researchers collect data for studies and physicians provide patient care through telehealth and remote-controlled engagement tools. The trend towards higher visualization is likely to continue even after pandemic and will heighten infrastructural changes to fruitfully use IT innovations for continued connected healthcare.

Competitive Landscape

Key Players

Cerner Corporation, COMPUTER PROGRAMS AND SYSTEMS, INC. Allscripts Healthcare Solutions, Inc. McKesson Corporation, Epic Systems Corporation. and NextGen Healthcare are among the leading companies in the Europe Electronic health record (EHR) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2019, iKnowMed, McKessons oncology practice electronic health record (EHR) system, has been named the top ranked EHR platform for oncologists and hematologists for the eighth year in a row by Black Book Research.

Products in Pipeline

As India moves to implement a universal healthcare programme for its billion residents, the electronic health records (EHR) market is tipped to grow at a robust compound annual growth rate (CAGR) of 5% through 2025, according to a report from data and analytics company GlobalData. Through Ayushman Bharat, the Indian government aims to provide healthcare coverage to over 100 million poor and vulnerable families.

Notable Recent Deals

Electronic Health Records were first introduced in 1960s. However, it is in the year 2009 when the Health Information Technology for Economic and Clinical Health Act was passed and around $30 billion was allocated for the adoption of the Electronic Health Records and its implementation on a large scale.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

Government of India intends to introduce a uniform system for maintenance of Electronic Medical Records / Electronic Health Records (EMR / EHR ) by the Hospitals and healthcare providers in the country. An Expert committee was set up to develop EMR / EHR Standards for adoption / implementation in the country. Draft EMR / EHR Standards were hosted on the website of the Ministry soliciting comments from the stakeholders and general public. After due consideration of the recommendation of the Committee and the comments received thereon, the 'Electronic Health Record Standards for India' have been finalised and approvedby the Ministry of Health and Family Welfare, Government of India.

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India Electronic Health Records market Analysis Segmentation

By Installation Type

In 2020, cloud-based segment accounted for the largest share of the market. Cloud-based solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems. Cloud-based EHR offers flexibility and allows the user to access the data from any place. Also, developments by market players in this segment are likely to enhance the growth of the segment.

By Type:

The acute type segment had the largest market share. The growth is due to government initiatives to introduce EHRs in small facilities, for example in acute hospitals in the US covered by the inpatient prospective payment system (IPPS) and has the eligibility for the Medicare Incentive Payment System. Outpatient or Ambulatory EHRs are intended for use in outpatient care facilities and small practices. Government support for the introduction of outpatient EHRs, particularly during the Covid-19 pandemic, is expected to fuel market growth.

By End-User:

The hospital segment had the largest market share and will remain dominant in the forecast period. A large amount of medical data generated in hospitals drives the growth of the market. However, the Ambulatory Care segment is estimated to have the fastest CAGR due to the growing popularity and the number of Ambulatory care centers around the world is expected to drive growth in this segment.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global India Electronic Health Records Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global India Electronic Health Records Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the India Electronic Health Records market
Chapter 2: Exclusive Summary - the basic information of the India Electronic Health Records Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the India Electronic Health Records
Chapter 4: Presenting the India Electronic Health Records Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the India Electronic Health Records market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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In conclusion, the India Electronic Health Records Market report is a genuine source for accessing the research data which is projected to exponentially grow your business. The report provides information such as economic scenarios, benefits, limits, trends, market growth rates, and figures. SWOT analysis and PESTLE analysis is also incorporated in the report.

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