Electronic Medical Records Market - Growth, Trends, and Forecast (2019 - 2024)

The Electronic Medical Records Market is segmented by Component, End User, Functionality, Application, Type, Mode of Delivery, and Geography.

Market Snapshot

Picture1 EMR
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.21%

Key Players:

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Market Overview

  • Electronic medical record (EMR) systems are becoming increasingly popular, as the healthcare industry is moving toward digitization. A lot of government initiatives, such as encouraging physicians to adopt electronic health records, investing in training the healthcare information technology workers, and establishing regional extension centers to provide technical and other advices are triggering the EMR market’s growth.
  • Moreover, factors, like rising need for integrated healthcare system, big data trends in healthcare industry, and technological advancements in the field of data storage are driving the growth of the EMR market. On the other hand, factors, like data privacy concerns, high initial investment, shortage of proper trained staff, and inter-operability issues are the primary restraints in the growth of the electronic medical records market. 

Scope of the Report

Electronic health record (EHR) is a computerized version of paper record that stores information securely and is visible to other authorized users/practitioners. It is an electronic version of patient medical history, which is maintained and includes all data related to patients care under particular doctor, including demographics, progress notes, problems, medication and vital signs, past medical history, immunizations, laboratory data, and radiology reports.

Component
Hardware
Software
Services and Consulting
End User
Hospital-based EMR
Physician-based EMR
Functionality
Basic Systems
Fully Functional Systems
Application
Specialty Based
Cardiology
Neurology
Radiology
Oncology
Other Applications
General Applications
Type
Traditional EMRs
Speech enabled EMRs
Interoperable EMRs
Other Types
Mode of Delivery
Cloud Based
On-premise Model
Geography
North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Cloud Based Segment Holds the Largest Share in the Electronic Medical Records Market

Based on mode of delivery, the electronic health record market is further segmented into cloud based and on-premise. Among these, cloud based holds the largest share in the electronic medical records market. This is attributed due to the rise in number of benefits, such as low licensing and start-up cost, low cost of maintenance and infrastructure requirements, and wider accessibility. In addition, a cloud-based EHR system provides enhanced productivity and faster and smoother implementation.

Based on end user, the electronic health record market is classified into hospital-based EMR and physician-based EMR. Hospital-based EMR held the largest share as an end-user segment in this market. The growth in this end-user segment is attributed to the increasing number of hospitals, globally, and several advantages associated with using EHR and easy availability of patient-centric data.

 

Picture2 EMR

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North America Dominates the Electronic Medical Records Market, Globally, During the Forecast Period

The healthcare IT market in the United States is one of the most established markets, compared to other geographical regions. Additionally, most hospitals and clinics in the region have widely implemented EHR solutions, due to stringent regulatory norms. Canada and the United States are the leading countries in this region that have implemented EHR systems. Asia-Pacific is anticipated to grow during the forecast period. Emerging countries, including India and China, have been experiencing strong economic growth. Increasing demand for the healthcare IT services and increasing expenditure by the governments in the emerging countries are expected to propel the EHR market in the Asia-Pacific region. In addition, China is the home for producing low-cost electronic components, which is anticipated to attract more investors.

Globally, governments have advised hospitals and clinics to change conventional health records into an electronic format for better storage of patient data. For instance, the U.S. government is taking initiatives to increase the use of EHR. The Health Information Technology for Economic and Clinical Health (HITECH) Act was authorized as a component of the American Recovery and Reinvestment Act (ARRA). This act was passed in 2009 to advance the utilization of EHR systems, with a specific end goal for modernizing and improving the healthcare system.

 

Picture3 EMR

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Competitive Landscape

Major market players in the global electronic health records market are actively participating in the development of new platform for the patient records. For instance, in May 2018, Cerner Corporation announced the agreement with Cerner Government Services Inc. for transitioning service members and their care providers’ access to a single electronic health record system. In April 2018, eClinicalWorks announced the partnership with Waverly Health Center (WHC), the partnership aimed to transform the WHC, Paragon Inpatient EHR system to the eClinicalWorks cloud-centric Acute Care EHR and Revenue Cycle Management platform.

Major Players

  1. McKesson
  2. Meditech
  3. GE Healthcare
  4. Next Gen Healthcare
  5. Greenway Health

* Complete list of players covered available in the table of contents below

Picture4 EMR

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Initiatives by the Governments

      2. 4.2.2 Technological Advancements

      3. 4.2.3 Low Maintenance and Wider Accessibility

    3. 4.3 Market Restraints

      1. 4.3.1 Data Privacy Concerns

      2. 4.3.2 High Initial Investment

      3. 4.3.3 Shortage of Proper Trained Staff

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Component

      1. 5.1.1 Hardware

      2. 5.1.2 Software

      3. 5.1.3 Services and Consulting

    2. 5.2 End User

      1. 5.2.1 Hospital-based EMR

      2. 5.2.2 Physician-based EMR

    3. 5.3 Functionality

      1. 5.3.1 Basic Systems

      2. 5.3.2 Fully Functional Systems

    4. 5.4 Application

      1. 5.4.1 Specialty Based

        1. 5.4.1.1 Cardiology

        2. 5.4.1.2 Neurology

        3. 5.4.1.3 Radiology

        4. 5.4.1.4 Oncology

        5. 5.4.1.5 Other Applications

      2. 5.4.2 General Applications

    5. 5.5 Type

      1. 5.5.1 Traditional EMRs

      2. 5.5.2 Speech enabled EMRs

      3. 5.5.3 Interoperable EMRs

      4. 5.5.4 Other Types

    6. 5.6 Mode of Delivery

      1. 5.6.1 Cloud Based

      2. 5.6.2 On-premise Model

    7. 5.7 Geography

      1. 5.7.1 North America

        1. 5.7.1.1 US

        2. 5.7.1.2 Canada

        3. 5.7.1.3 Mexico

      2. 5.7.2 Europe

        1. 5.7.2.1 Germany

        2. 5.7.2.2 UK

        3. 5.7.2.3 France

        4. 5.7.2.4 Italy

        5. 5.7.2.5 Spain

        6. 5.7.2.6 Rest of Europe

      3. 5.7.3 Asia-Pacific

        1. 5.7.3.1 China

        2. 5.7.3.2 Japan

        3. 5.7.3.3 India

        4. 5.7.3.4 Australia

        5. 5.7.3.5 South Korea

        6. 5.7.3.6 Rest of Asia-Pacific

      4. 5.7.4 Middle East & Africa

        1. 5.7.4.1 GCC

        2. 5.7.4.2 South Africa

        3. 5.7.4.3 Rest of Middle East & Africa

      5. 5.7.5 South America

        1. 5.7.5.1 Brazil

        2. 5.7.5.2 Argentina

        3. 5.7.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 eClinicalWorks

      2. 6.1.2 McKesson

      3. 6.1.3 Cerner Corporation

      4. 6.1.4 Allscripts

      5. 6.1.5 Meditech

      6. 6.1.6 GE Healthcare

      7. 6.1.7 Epic

      8. 6.1.8 Next Gen Healthcare

      9. 6.1.9 Greenway Health

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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