APAC Electronic Health Record Market 2023 Is Ready to Set Outstanding Growth in Upcoming Years

The APAC Electronic Health Record 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 APAC Electronic Health Record market. This report explores all the key factors affecting the growth of the global APAC Electronic Health Record market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Description of the APAC Electronic Health Record 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

Reason to buy the report:

Facilitate decision-making based on strong current and forecast data for APAC Electronic Health Record Market Analysis
Develop strategies based on the latest regulatory framework
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 APAC Electronic Health Record 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

APAC Electronic Health Record Market Analysis Executive Summary

Electronic health record (EHR) is a digital version of patients medical records. EHRs are patient-centred and real-time records that make patient data available instantly and securely to authorized healthcare professionals. It contains patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results.

Thus, an increasing adoption of Electronic Health Records (EHRs) is expected to create a significant demand for electronic health record (EHR) in the coming years, which is further anticipated to drive the electronic health record (EHR) market.

Market Size and Key Findings

The APAC Electronic Health Record Market Analysis size stood at around USD 2.25 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 6.2% during the forecast period.

According to a new market research study on Asia Pacific Electronic Health Record (EHR) Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Installation Type, Type, and End-user, is expected to reach US$ 1.477.3 million by 2028 from US$ 2,245.1 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Electronic health record (EHR) market along with the drivers and restraints pertaining to the market growth.

Market Dynamics

Market Growth Drivers Analysis

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. Todays 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.

The report provides trends prevailing in the Asia Pacific Electronic health record (EHR) market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing adoption of Electronic Health Records (EHRs), rising incentives by federal government and growing incidences of medication errors are the key factors driving the market growth.

Market Restraints

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 patients health care team. However, the market is expected experiencing slow growth during the forecast period owing to the concerns regarding data privacy.

COVID-19 impact on "APAC Electronic Health Record Market Analysis

The origin of the COVID-19 pandemic is confirmed from China, and the outbreak has affected several countries across the world. Second medical opinion becomes a must as the Coronavirus outbreak grows and most countries face a complete lockdown. The outbreak of COVID-19 has caused a continuing global pandemic. Hospitals are integral to the control and prevention of COVID-19; however, they face numerous challenges during the epidemic. The ongoing healthcare crisis is rapidly is being witnessed in smaller towns and villages where people are dying due to lack of oxygen, hospital beds and lifesaving drugs, similar to urban areas. As per the ministry health data hundreds of thousands of children have missed vital immunizations, and thousands of adults may have missed life-saving medical treatments due to the novel coronavirus epidemic spread and the lockdown. This is likely to have negative impact in the Asia Pacific countries.

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

England-based start-up Babylon, which has designed a primary care diagnostic app powered by machine learning and AI, entered into China and Rwanda markets. Also, COVID-19 has accelerated the use of digital health technologies globally. The pandemic has prioritized remote monitoring solutions. Governments in the region are promoting telemedicine, offering lucrative opportunities for the patient portal market in coming years.

Notable Recent Deals

In July 2020, Cerner launched a cloud-based EHR platform, Community Works Foundations, which aims at reducing the costs of traditional EHR systems in rural and Critical Access Hospitals.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

Governments in the region are promoting telemedicine, offering lucrative opportunities for the patient portal market in coming years. For instance, in March 2020, the Indian government issued the Telemedicine Practice Guidelines to enable registered medical practitioners to provide healthcare services using telecommunication and digital technologies.

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APAC Electronic Health Record 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 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 APAC Electronic Health Record 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 APAC Electronic Health Record Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the APAC Electronic Health Record market
Chapter 2: Exclusive Summary - the basic information of the APAC Electronic Health Record Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the APAC Electronic Health Record
Chapter 4: Presenting the APAC Electronic Health Record 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 APAC Electronic Health Record 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 APAC Electronic Health Record 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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