UK Electronic Health Records Market 2023 | Estimate CAGR Analysis, Technological Development Overview, Growth Trends and Competitive Research till 2028

The UK 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 UK Electronic Health Records market. This report explores all the key factors affecting the growth of the global UK 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 UK 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 UK 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 UK 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

UK Electronic Health Records 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 UK 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 4.5% during the forecast period.

The electronic health record (EHR) market in UK is estimated to grow at a CAGR of 4.5% from 2021 to 2028.

Market Dynamics

Market Growth Drivers Analysis

Technological advancements in healthcare offers promising future for enhancing healthcare delivery through electronic health records. Natural language processing software is a speech recognition software enable enhancing interaction with Electronic health records. This technology enables the physician to save their valuable time and available for the patients at given precise time.

Predictive analytics methods uses modelling, statistics, and data mining in coordination with artificial intelligence (AI), for better clinical outcomes based on electronic health records for improving care delivery and improving better patient experience.

Technological advancement leading to expansion of the patient access to their medical data. Patient portal is a primary way for collecting, storage, and sharing health information amongst clinics and patients.

Market Restraints

At the turn of the century, the health records of UK citizens were often held locally, with the result that there was no coordinated system. "Although electronic health records (EHRs) are widely viewed as central to modernizing the organization and delivery of sustainable, high quality healthcare, the uptake of such records in hospital has tended to be slow. Approaches to deployment of EHRs vary from home-grown systems in single organizations with the necessary technical and managerial capacity; to interoperability standards for linking multiple information technology (IT) systems; to top-down, government driven, and national implementations of standardized, commercial software applications.

COVID-19 impact on "UK 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

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

In 2002, the UK government launched development of the National Programme for Information Technology (NPfIT) NHS Care Records Service, which was intended to deliver an electronic health records system containing patient records from across the UK. There were problems with poor user requirements analysis, the failure to address patient confidentiality, overambitious timescales, and enormous cost overruns. It was eventually closed down in 2011 as part of the dismantling of the NPfIT programme. The UK government chose the top-down, government-driven approach: a "nationwide implementation of EHRs, known as the NHS Care Records Service, is the cornerstone of the 12.7 billion National Programme for Information Technology (NPfIT)". This very ambitious approach required enormous resources. "In order to begin the process of creating a system that supports health IT for the entire nation, the UK with the help of four companies including the US-based company, the Computer Sciences Corporation (CSC), began one of the largest and ambitious health IT projects that the world had ever seen in early 2002... NPfIT attempted to create a national EHR system for the entire UK. It was a project that would eliminate the challenges of interoperability between various competitive EHR systems around the UK." The initiative came to an end in 2011. "Launched in 2002 and officially dismantled in 2011, NPfIT included the first sustained national attempt to introduce centrally-procured EHR systems across the NHS's hospitals, including mental health settings."

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UK 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 UK 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 UK Electronic Health Records Market:

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