Significant Advantages of EHR Systems for Streamlining Operations Propel Growth of Electronic Health Records Market

According to a new market report published by Transparency Market Research “Electronic Health Records Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023” the global EHR market was valued at US$18.93 bn in 2014 and is expected to grow at a CAGR of 5.4% from 2015 to 2023, to reach an estimated value of US$30.28 bn by 2023.

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Electronic health record (EHR) are a summary of the various electronic medical records which are generated during any clinical encounter. An EHR stores a wide range of data such as medical history of a patient, medication, laboratory test results, diagnostic images and demographics. In the past, EHR adoption has been higher among medium to large-sized hospitals as compared to small-sized practices, primarily because hospitals have a larger budget than small-sized practices. However, during the forecast period from 2015 to 2023, the market for EHR systems used in small-sized practices is expected to witness significant growth rate.

Benefits of adopting EHR Systems Propel Growth of Electronic Health Records Market

The benefits of using an EHR system such as its accuracy, efficiency, and reduced medical errors are hugely responsible for the rapidly growing global electronic health records market. More and more healthcare providers are opting for the technically advanced electronic health records systems so as to save time and resources, thus impacting the global electronic health records market positively. The rapidly increasing geriatric population and the consequently growing need for remote monitoring of this demographic, coupled with an increased pressure for containment of health care costs, and the demand for improved patient care have led to an increase in the electronic health records market in the U.K. and Germany.

The global electronic health records market is segmented by installation type into web-based, client server-based, and software as a service. By end use, the market is categorized into hospitals, ambulatory services, and physicians’ offices. Lastly, the geographical segmentation includes the segments of Europe, North America, Latin America, and Asia Pacific.

High Installation Costs of EHR systems Restrain Global Market

The global market for electronic health records features a large number of key players. Some of the key vendors operating in the global electronic health records market are Epic Systems, Allscripts Healthcare Solutions, Inc., eClinicalWorks, Athenahealth, Inc., GE Healthcare, Cerner Corporation, Greenway Health, LLC, Medical Information Technology, Inc., 4medica, McKesson Corporation, and NextGen Healthcare.

Factors such as the high cost for installation of EHR systems and lack of skilled IT professionals working in health care facilities are restraining the global electronic health records market. Apart from these restraints, which can be readily overcome with the growing usage of these systems in the coming years, the future of the global electronic health records market seems to be very bright.

Browse Full Global Electronic Health Records Market Report With Complete TOC @ http://www.transparencymarketresearch.com/electronic-health-records-market.html

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