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Electronic Health Records Market To Grow At A 4.5% Value CAGR Through 2032

02-19-2024 11:12 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Electronic Health Records Market To Grow At A 4.5% Value CAGR

The electronic health records market is projected to achieve a market value of US$ 26.78 Billion in 2022, with an estimated compound annual growth rate (CAGR) of 4.5% during the forecast period spanning from 2022 to 2032. By the end of this forecast period, the market is anticipated to soar to a value of US$ 41.8 Billion.

Between 2015 and 2021, the global electronic health records market experienced substantial growth, culminating in a valuation of US$ 26 billion by 2021. According to insights from market research and competitive intelligence provider Fact.MR, the adoption of electronic health records surged at a compound annual growth rate (CAGR) of 3% over this historical period. The swift digitization of healthcare practices, aimed at enhancing patient care and streamlining workflow efficiency, has significantly expanded the market's scope.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7157

Electronic Health Records (EHR) represent a digital rendition of patients' paper charts, facilitating instantaneous and secure access to real-time patient records by authorized users. As per forecasts, the electronic health records market is poised for significant expansion throughout the forecast period of 2022-2023.

Notably, the web-based EHR segment leads the market, commanding a market share exceeding 50%, according to the study findings. One of the primary drivers propelling the electronic medical records market in the United States is the government's proposal to mandate the widespread adoption of electronic health records among healthcare industry stakeholders.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐“๐ซ๐ž๐ง๐๐ฌ:

Technological Advancements: Rapid advancements in technology, particularly in cloud computing, artificial intelligence, and interoperability standards, are driving innovation within the EHR market. These technologies are enhancing the functionality and usability of EHR systems, improving patient care outcomes, and driving market growth.

Increased Adoption of Interoperable Systems: There is a growing trend towards the adoption of interoperable EHR systems that can seamlessly exchange data between different healthcare providers and systems. Interoperability promotes better care coordination, reduces medical errors, and improves efficiency, leading to increased demand for interoperable EHR solutions.

Focus on Patient Engagement and Empowerment: Healthcare providers are increasingly prioritizing patient engagement and empowerment, leading to the development of EHR systems with patient portals, mobile applications, and other features that allow patients to access their health information, communicate with their providers, and participate more actively in their care.

Shift towards Value-based Care Models: The transition from fee-for-service to value-based care models is driving the adoption of EHR systems that support population health management, care coordination, and quality reporting. EHR vendors are developing solutions tailored to the needs of accountable care organizations (ACOs), medical homes, and other value-based care entities.

Telehealth Integration: The COVID-19 pandemic accelerated the adoption of telehealth services, leading to increased integration of telehealth capabilities into EHR systems. Healthcare providers are seeking EHR solutions that support virtual visits, remote monitoring, and telemedicine workflows to meet the growing demand for virtual care.

Regulatory Initiatives and Incentives: Government regulations, such as the Meaningful Use program in the United States and similar initiatives in other countries, continue to drive EHR adoption by providing incentives for healthcare organizations to implement certified EHR technology. Compliance with regulatory requirements remains a significant factor influencing purchasing decisions in the EHR market.

Global Expansion and Market Consolidation: EHR vendors are expanding their presence in international markets, driven by increasing demand for digital health solutions worldwide. Market consolidation through mergers and acquisitions is also reshaping the competitive landscape, with larger vendors acquiring smaller companies to enhance their product offerings and geographic reach.

๐Š๐ž๐ฒ ๐‚๐จ๐ฆ๐ฉ๐š๐ง๐ข๐ž๐ฌ ๐๐ซ๐จ๐Ÿ๐ข๐ฅ๐ž๐
โ€ข Cerner Corporation (Oracle)
โ€ข GE Healthcare
โ€ข Allscripts Healthcare LLC
โ€ข McKesson Corporation
โ€ข Epic Systems Corporation;
โ€ข NextGen Healthcare, Inc.
โ€ข eClinicalWorks
โ€ข Health Information Management Systems
โ€ข CPSI
โ€ข AdvancedMD, Inc.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The competitive landscape of the electronic health records market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

โ€ข 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.

๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐จ๐ง๐ข๐œ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐‘๐ž๐œ๐จ๐ซ๐๐ฌ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก

โ€ข By Product
o Client-server-based EHR
o Web-based EHR

โ€ข By Type
o Acute
o Ambulatory
o Post-acute

โ€ข By End Use
o Hospital Use
o Ambulatory Use
๏‚ง Physician's Clinic
๏‚ง Laboratories
๏‚ง Pharmacy

โ€ข By Business Model
o Licensed Electronic Health Records Software
o Technology Resale
o Subscriptions
o Professional Services
o Other Business Models

๐‘๐ž๐š๐ ๐Œ๐จ๐ซ๐ž: https://www.factmr.com/report/electronic-health-records-market

๐Œ๐จ๐ซ๐ž ๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

U.S. Electronic Health Records Market: https://www.factmr.com/report/us-electronic-health-records-market

Europe Electronic Health Records Market: https://www.factmr.com/report/europe-electronic-health-records-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

๐€๐›๐จ๐ฎ๐ญ ๐…๐š๐œ๐ญ.๐Œ๐‘
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