Global Clinical EHR Systems Market Size

Clinical EHR Systems Market Analysis

The Global Clinical EHR Systems Market size is estimated at USD 20.87 billion in 2024, and is expected to reach USD 28.13 billion by 2029, growing at a CAGR of 6.15% during the forecast period (2024-2029).

With the onset of COVID-19, several countries embraced digital healthcare to a notable extent to share data regarding infection status. The Electronic Health Record (EHR) platforms witnessed a dramatic increase in their adoption rate during the pandemic. In order to mitigate and contain the spread of COVID-19 infection, government and public healthcare officials are adopting electronic case reporting (ECR) platforms for tracking the infection spread status. This has significantly boosted the revenue generation in the 2020 and 2021 markets. Several market players are engaged in product launches that support the market growth in the country. For instance, in April 2020, Allscripts introduced a package of COVID-19 solutions for hospitals. The package provides a series of COVID-19 workflows that addresses disease-specific needs within SunriseTM EHR, ParagoN EHR, and Allscripts Care Director. Such launches are anticipated to fuel the usage of EMRs in the country. Therefore, the clinical EHR system market has been significantly impacted by the COVID-19 pandemic.

The increasing number of hospitals are found utilizing clinical EHR systems. These systems has number of advantages such as easier access to patient data, improved patient safety via decision support, structure information and better access to patient information are likely to drive growth of global clinical EHR systems market over foreseeable future. The initiatives launched by the government are also contributing to the market growth. For instance, in March 2020, the United States Department of Health and Human Services (HHS) finalized two transformative rules that provide patients unprecedented safe, secure access to their health data. The two rules, issued by the HHS Office of the National Coordinator for Health Information Technology (ONC) and Centers for Medicare & Medicaid Services (CMS), implement interoperability and patient access provisions of the bipartisan 21st Century Cures Act (Cures Act) and support government's MyHealthEData initiative. These types of initiatives will further contribute to the increasing adoption of EMRs in the country.

Systems for keeping electronic health records are growing in popularity as the healthcare sector digitizes. The growth of the clinical EMR system market is being fueled by numerous government initiatives, including encouraging doctors to use electronic health records, investing in training healthcare IT professionals, and setting up regional extension centres to offer technical and other advice. For Instance, in March 2021, to enable the flow of health data across borders, the European Commission adopted a recommendation on a European electronic health record exchange format. Wherever they are in Europe, this policy enables European citizens to securely access and exchange their health data.

Additionally, the market for clinical EHRs system is expanding due to factors like the growing need for an integrated healthcare system, big data trends in the healthcare sector, and developments in data storage technology. For instance, in 2020, Savana Medical, a Spanish startup, has raised approximately EUR 12.8 million in its Series B fundraising round to transform electronic health information into Big Data to unleash life-saving insights. This is expected to bring innovations in the electronic medical records solutions, thereby expected to drive the growth of electronic health records market.