Personal Health Record Software Market Report 2024 - Personal Health Record Software Market Share And Trends

"The Business Research Company recently released a comprehensive report on the Global Personal Health Record Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The personal health record software market size has grown strongly in recent years. It will grow from $9.20 billion in 2023 to $10.14 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to the market demand and supply, government initiatives, integration with traditional record keeping, increased chronic disease management, consumer demand for accessible healthcare information.

The personal health record software market size is expected to see strong growth in the next few years. It will grow to $14.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing demand for centralizing and streamlining healthcare information, rising initiatives to promote patient-centric care, increasing awareness and adoption among consumers. Major trends in the forecast period include increasing government initiatives to promote patient-centric care, growing demand for centralizing and streamlining healthcare information, rising awareness among patients about medical information storage and management.

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Market Drivers and Trends:
The growing demand for digital health solutions is expected to propel the growth of the personal health record software market going forward. Digital health solutions refer to the integration of technology and digital tools into healthcare delivery to improve efficiency, accessibility, quality of care, and patient outcomes. Personal health record software is used in digital health solutions to empower patients, improve care coordination, enhance clinical decision-making, and promote better health outcomes. For instance, in August 2022, according to a report published by the Australian Digital Health Agency, an Australia-based government agency, between 2020 and 2022, a total of 118.2 million telehealth services were provided to 18 million patients, with over 95,000 practitioners utilizing telehealth services during this period. Further, in February 2023, according to a survey of 7,980 U.S. adults by Rock Health, a US-based healthcare organization, telemedicine adoption had surged, with 80% of respondents accessing care remotely, up from 72% in 2021. Therefore, the rising demand for digital health solutions is driving the growth of the personal health record software market.

Major companies operating in the personal health record software market are focusing on developments in AI advancement software, such as AWS HealthScribe, due to the significant benefits of AI integration in healthcare software solutions. AWS HealthScribe is a new generative AI-powered service that automatically creates clinical documentation from patient-clinician conversations. For instance, in July 2023, Amazon Web Services, a US-based cloud solutions provider, launched AWS HealthScribe, a new generative AI-powered service that automatically creates clinical documentation. It is a HIPAA-eligible service designed to help healthcare software providers build clinical applications that use speech recognition and generative AI to create preliminary clinical notes from doctor-patient discussions. The service is aimed at accelerating clinical documentation, enhancing consultation efficiency, and boosting medical scribe workflow efficiency. Additionally, these features are designed to help healthcare software vendors build clinical applications that use speech recognition and generative AI to create preliminary clinical notes, thereby enhancing consultation efficiency and boosting medical scribe workflow efficiency.

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Major Key Players of the Market:
GE Healthcare, Cerner Corporation, Allscripts, eClinicalWorks, Athenahealth, NextGen Healthcare, Meditech, Greenway Health, CareCloud Inc., Kareo, Zapbuild, E-MDs Inc., SoftClinic Software, Practice Fusion Inc., AdvancedMD, Practice Fusion, HealthFusion, CureMD, Epic Systems Corporation, NoMoreClipboard, Amazing Charts, Validic Inc., Health Companion, Patient Ally, Healthspek, 75Health (Kaaspro), Knapsack Health, Records For Living Inc., DrChrono, ChARM Health

Personal Health Record Software Market 2024 Key Insights:
• The Major Key Players of the Market:
GE Healthcare, Cerner Corporation, Allscripts, eClinicalWorks, Athenahealth, NextGen Healthcare, Meditech, Greenway Health, CareCloud Inc., Kareo, Zapbuild, E-MDs Inc., SoftClinic Software, Practice Fusion Inc., AdvancedMD, Practice Fusion, HealthFusion, CureMD, Epic Systems Corporation, NoMoreClipboard, Amazing Charts, Validic Inc., Health Companion, Patient Ally, Healthspek, 75Health (Kaaspro), Knapsack Health, Records For Living Inc., DrChrono, ChARM Health is expected to grow toPersonal Health Record Software Market 2024 Key Insights:
• Digital Health Solutions Fueling Growth In Personal Health Record Software Market
• Advancements In AI Integration Transforming Personal Health Record Software Market
• North America was the largest region in the personal health record software market in 2023.

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