EHR-EMR Market to be a USD 120 Billion Market by 2023

An electronic health record (EHR), or electronic medical record (EMR), is the systematized collection of patient and population electronically-stored health information in a digital format.

EMR/EHR market expected to register a healthy growth due to: increasing need for easy and convenient healthcare services, replacement of paper records by electronic records, reduce chances of error, an increase in the number of patients getting admitted in hospitals, increasing volume of medical records, easy healthcare delivery & maintaining quality of health records. Such innovations in healthcare IT also favours the growth of the EMR/EHR Market. On the other hand, high cost of software solutions may act a restrain to this market’s growth. The adoption of cloud computing in healthcare is likely to increase due to the rising necessity to reduce healthcare costs and cost-efficiency of cloud technology. Being said that increasing number of healthcare organization & rising healthcare expenditure fuel the growth of the market.

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Market analysis by MRFR clearly shows that, aggressive players in EMR/EHR market such as: Epic, Cerner beat out Meditech in small hospital EHR adoption segment. It has also been observed that, Epic Systems, Cerner & Athena Health continue to lead the small hospital EHR adoption marketplace.

In current year 2017, small hospital EHR adoption landscape shows that organizations under 200 beds are scooping up electronic health records from Epic, Cerner & Athenahealth at a rapid rate. Findings revealed that, hospitals with fewer than 200 beds accounted for 78% of EHR purchasing decisions in 2016. EMR/EHR market attribute this trend to the emergence of micro hospitals or short term acute care facilities with fewer than 15 inpatient beds, & an increase in EHR purchasing decisions by standalone hospitals

This market movement was fuelled by continued growth of the community specific platforms from Cerner & Epic, the acquisition & EMR standardization activity of larger organizations, & smaller hospitals’ increased interest in Athenahealth’s new hospital offering.

2016 was a big year for Epic, Cerner, & Athenahealth, on the other hand players such as Meditech & McKesson had a harder time maintaining their footing among small hospitals

Aggressive marketing by Epic, helps Epic continued to hold the lion’s share of the market in 2016:- Epic sustained its 6-year streak this year as the leading supplier among acute care hospitals. Helping Epic’s reputation among small hospitals is their spotless record of zero reported voluntary customer un instalments. No Epic customers voluntarily signed with a competing EMR company in 2016.

Cerner earns highest number of critical access hospitals: - Cerner trailed close behind Epic in the market. Despite holding the second position overall, Cerner provided EHR technology for the highest number of critical access hospitals in 2016. Cerner community works is a large draw for small hospitals due to its breadth of functionality and integration, though provider satisfaction is middle of the road. Findings revelled that some of Cerner’s spike in new small hospital clients to its acquisition of Siemens. For many Siemens customers, Cerner’s acquisition acted as a catalyst, accelerating their time frame for making a new EMR decision. Aggressive marketing by “Cerner” & “Epic”, both appeal to small hospitals due to the variety of services the vendors’ EHR systems offer, small hospitals report a lack of flexibility preventing them from tailoring the technology to their specific organizational needs

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Athena health doubles its small hospital client base: While EHR giants Epic and Cerner maintained their status as top performers in the market, athenahealth also grew significantly, more than doubling their number of acute care hospital implementations in 2016.

Meditech, McKesson & CPSI suffer multi-year net losses: - Meditech, McKesson, & CPSI suffered the largest net losses in 2016. Meditech lost half of its legacy customers to competitors in 2016. Meditech was the only player lost half the legacy customers that made decisions to competitors in 2016. The majority of customers leaving Meditech report insufficient development & skepticism that the supplier will be able to meet future needs.

EHR-EMR Market – Competitive Analysis

As the market seems to be attractive, growing and profitable, at the same time market has witnessed intense rivalry among existing competitors. Many new entrants expected to enter into EHR-EMR Market. There are many big players in the EHR-EMR Market such as: Epic Systems Corporation (U.S), Cerner Corporation (U.S), Meditech, Allscripts (U.S), QSI Management, LLC (U.S), General Electric Company (U.S), eClinicalWorks (U.S), McKesson Corporation (U.S) and Greenway Health, LLC (U.S)

EHR-EMR Market – Regional Analysis

Globally, EHR-EMR market consists of four regions namely Americas, Europe, Asia Pacific and Middle East & Africa. America is the largest market. Increasing importance of EHR-EMR, concentration of major market players and increase in number of services in specialty & super specialty hospitals boosts the growth of this market in North America.

Europe is the second largest market owing to extensive use of healthcare IT for patient engagement & administration. Increasing adoption of healthcare management software, use of clinical practice management software & availability of funds for R&D activities in healthcare IT also fuel the growth of the market.

The Asia Pacific region is the fastest growing market whose growth is due to the growing adoption IT by healthcare providers, importance of electronic medical records & demand of software solutions for medical billing, & scheduling accelerate the growth of the market.

The market shows decent positive growth in Middle East & Africa, due to an increasing demand of software solutions in hospitals.

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