Electronic Health Records (EHR) Market to be led by increasing adoption of Data-Driven Decision Making across the globe Through 2028
Growing
Popularity of Patient-Centric EHRs is driving the implementation of the
Electronic Health Records (EHR) market across the globe.
According to TechSci Research report, “Electronic Health
Records (EHR) Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F”
The global electronic health records (EHR) market has emerged as
a transformative force in the healthcare industry, revolutionizing the way
patient information is captured, stored, and managed. HER’s are digital repositories
that enable healthcare providers to store comprehensive and real-time medical
data, from patient histories and diagnoses to treatment plans and laboratory
results. This technology-driven shift from traditional paper-based records to
electronic systems has brought about a paradigm shift in healthcare delivery,
fostering improved patient care, enhanced clinical decision-making, and
streamlined administrative processes.
The adoption of EHR systems has gained momentum due to several
key drivers. Firstly, the push for interoperability and data sharing among
healthcare facilities has prompted governments and healthcare organizations to
embrace EHR solutions, facilitating seamless exchange of patient information
across different providers and settings. Additionally, the pursuit of increased
operational efficiency and cost reduction has spurred the integration of EHRs,
as digital records minimize paperwork, reduce duplication, and enable efficient
data retrieval. The emphasis on patient-centric care and engagement has led to
the development of user-friendly EHR interfaces that empower patients to access
and manage their health information.
Moreover, the global EHR market is witnessing significant
technological advancements, including the integration of artificial
intelligence (AI) and machine learning (ML) capabilities. These technologies
enhance clinical insights, automate routine tasks, and offer predictive
analytics for more informed decision-making. However, the EHR market is not
without its challenges. Concerns related to data security, patient privacy, and
data breaches remain significant barriers to adoption. Ensuring the
safeguarding of sensitive health information is crucial, as breaches can have
far-reaching implications for patient trust and legal compliance.
In summary, the global Electronic Health Records (EHR) market is
witnessing significant growth and transformation, driven by the need for
efficient data management, improved patient care, and enhanced collaboration
among healthcare stakeholders. While challenges remain, the continued
development and adoption of EHR systems have the potential to reshape
healthcare delivery, advance medical research, and ultimately contribute to
better health outcomes on a global scale.
Browse over XX market data Figures spread through 170 Pages and an in-depth TOC
on the "Global Electronic Health Records (EHR) Market."
Global Electronic Health Records (EHR) Market is segmented into product,
component, type, and end user. Based on product, the market is segmented into
on-premises EHR software and cloud EHR software. Based on component, the market
is segmented into practice management, patient management, E-prescription,
referral management and population health management. Based on type, the market
is segmented into Inpatient EHR and Ambulatory EHR. Based on end user, the
market is further split into hospitals, specialty centers, clinics, and
ambulatory surgical centers.
Based on product, the Electronic Health Records (EHR) market is
segmented into on-premises EHR software and cloud EHR software. Cloud EHR
software holds the dominating segment throughout the forecast period.
Cloud-based EHR solutions have gained significant traction due to their
numerous advantages over traditional on-premises software. This EHR software
eliminates the need for extensive hardware investments and ongoing maintenance,
making it a cost-effective option for healthcare providers of all sizes.
Additionally, cloud EHRs facilitate remote access to patient data, allowing
authorized users to securely access information from various locations and
devices, thereby enhancing care coordination and collaboration among healthcare
professionals. Moreover, the cloud-based approach aligns well with the evolving
healthcare landscape, characterized by data sharing, interoperability, and
value-based care. It facilitates the integration of emerging technologies like
artificial intelligence and data analytics, enabling healthcare providers to
derive meaningful insights from large volumes of patient information.
Based on type, the Electronic Health Records (EHR) market is
categorized into Inpatient EHR and Ambulatory EHR. The Inpatient EHR dominates
the Electronic Health Records (EHR) market throughout the forecast period.
Inpatient EHR systems are tailored to cater to the comprehensive healthcare
needs of patients who are admitted to hospitals or other medical facilities.
These systems efficiently capture and manage a wide range of clinical data,
including patient medical histories, diagnoses, treatment plans, medications,
and lab results. Inpatient EHR solutions are designed to support complex and
multifaceted care scenarios, enabling healthcare providers to seamlessly
collaborate, make informed decisions, and deliver high-quality care to
hospitalized patients. In addition, these systems streamline the documentation
and sharing of patient information among various medical professionals, leading
to more accurate diagnoses, improved treatment outcomes, and optimized resource
utilization. Furthermore, as healthcare institutions strive to improve
operational efficiency, reduce medical errors, and enhance patient experiences,
Inpatient EHR systems offer valuable tools for achieving these objectives. They
facilitate real-time access to patient data, support decision support systems,
and contribute to the effective management of hospital resources.
Key market players in the global electronic health records (EHR)
market include:
- Epic Systems Corporation
- General Electronic Company
(GE Healthcare)
- Allscripts Healthcare
Solutions Inc.
- NextGen Healthcare Inc.
- Computer Programs and
Systems, Inc.
- Greenway Health LLC
- McKesson Corporation
- CareCloud Inc.
- Cerner Corporation
(Oracle)
- eClinicalWorks
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“North America is projected to experience the highest compound
annual growth rate (CAGR) during the forecast period. The region is anticipated
to hold a significant share of the Electronic Health Records (EHR) market as
the region boasts prominent businesses across various industries and
extensively implements software solutions. The United States is poised for
rapid growth due to the increasing demand for advanced analytics tools that
enhance compliance analytics. These tools play a crucial role in detecting
fraud, policy violations, and other forms of business misconduct. The country
is making substantial investments in cutting-edge technologies such as machine
learning, the Internet of Things, and artificial intelligence, resulting in the
generation of exponential data for industries. Moreover, North America has
consistently led the way in technological advancements and innovation. Its
strong ecosystem, comprising of technology companies, research institutions,
and startups, has been instrumental in driving the development and adoption of
Electronic Health Records (EHR) solutions. Notably, major technology hubs like
Silicon Valley have played a pivotal role in nurturing and accelerating market
growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Electronic Health Records (EHR) Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product
(On-Premises EHR Software, Cloud EHR Software), By Component (Practice
Management, Patient Management, E-Prescription, Referral Management, Population
Health Management), By Type (Inpatient EHR and Ambulatory EHR), By End User
(Hospitals, Specialty Centers, Clinics, Ambulatory Surgical Centers), By
Region, Competition”, has evaluated the future growth potential of
electronic health records (EHR) and provides statistics and information on
market structure, size, share, and future growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the global electronic
health records (EHR) market.
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