Electronic Health Records Market is Revolutionizing Patient Care with Digital Data

The demand for the Electronic Health Records market is growing massively mainly due to the growing digitalization of the healthcare sector. Post pandemic government and companies are investing significantly in digitalization to provide contactless services, to gather and store data for understanding trends and medical history of patients. Medical professionals are also spending an increased amount of time to analyze the medical history of patients before diagnosis. Growing insurance penetration, especially in developing economies, is also boosting the demand for integrated data on patients' medical history, prior diagnosis and hospitalization records. Insurance companies access web based electronic health record or client/medical institutes stored records to settle claims and compensations. It is not only the institutions and companies, growing awareness among people regarding their medical history coupled with higher internet connectivity is also boosting the demand for electronic health records.

Global Electronic Health Records Market size was valued at USD 31.6 billion in 2023 and is poised to grow from USD 33.43 billion in 2024 to USD 52.49 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

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Patients are more willing to access their medical records electronically from any part of the world than storing paper based medical records. With a high volume of sensitive health data stored over the cloud or on client-based servers, end users and technology companies are investing more in data safety and securing. Governments across geographies are coming up with strict data safety regulations which might impact the demand for electronic health record market.

Electronic Health Records Market Segments Analysis:

Global Electronic Health Records Market is segmented by Product, Type, Business Model, Application, End Use and region.

Based on Product, the market is segmented into On-premises and Web & Cloud-Based EHR.
Based on Type, the market is segmented into Acute, Outpatient and Post Acute. Based on Business Model, the market is segmented into Licensed Software, Technology Resale, Subscriptions, Professional Services and Others.
Based on Application, the market is segmented into Cardiology, Neurology, Radiology, Oncology, Mental and Behavioral Health, Nephrology and Urology, Gastroenterology, Pediatrics, General Medicine, Physical Therapy and Rehabilitation and Others.
Based on End Use, the market is segmented into Hospital, Ambulatory Surgical Centers and Other End Use.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Electronic Health Records Market Key Players:

Cerner Corporation (Oracle) (US)
GE Healthcare (US)
Allscripts Healthcare, LLC (US)
McKesson Corporation (US)
Epic Systems Corporation (US)
NextGen Healthcare, Inc. (US)
eClinicalWorks (US)
Medical Information Technology, Inc. (US)
Health Information Management Systems (US)
CPSI (US)
CureMD Healthcare (US)
Teladoc Health, Inc. (US)
Intersystems Corporation (US)
Healthcare (US)
Docpulse (India)

Electronic Health Records Market Recent Developments:

In 2023 Microsoft entered into strategic collaboration with Epic. With the help of this partnership Microsoft with Azure Open AI service will integrate generative AI into Epic's electronic health record.

In 2023, Meditech entered into an agreement with Canada Health Infoway. With the help of Meditech EHR prescribers in Canada can transmit the prescriptions directly to a pharmacy of the patient's choice in any part of the country.

In 2023, American Podiatric Medical Association (APMA) entered into a collaboration with NextGen Healthcare. With the help of this collaboration, APMA plans to understand the trends of several diseases such as diabetes, infections, injuries, and dermatitis with the help of the data saved in NextGen Office EHS software.

Electronic Health Records Market Regional Insights:

North America is dominating due to rising demand for electronic health record market due to the presence of a developed healthcare industry. In 2022, US spent an upwards of almost 17% of their GDP on healthcare sector while Canada spent more than 12% of their GDP. Hence large of government, private hospitals and clinics provide wide range of medical services which fuels the demand for EHR to better accountability and monitoring. Moreover, medical facilities in the US provide high end services hence medical tourism in US is significantly high. As a greater number of patients are travelling to North America from across the globe as part of medical tourism, medical institutes have invested in EHR software to maintain records.

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Electronic Health Records industry.

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Looking ahead, the Electronic Health Records Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Electronic Health Records Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.

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