Electronic Medical Records Market
The Electronic Medical Records Market is expected to witness a CAGR of 17.8% during the forecast period. The continuously rising demand for streamlining the electronic healthcare systems and technological advancements in the field of healthcare IT, are key factors that contribute to the growth of the market.
Government Initiatives Taken to Maintain the Patient Health Records
Electronic Medical Record (EMR) systems are becoming increasingly popular, as the healthcare industry is moving toward digitization. A lot of government initiatives are being introduced, which generally focus on laying down the standards, regulations, and infrastructure for maintaining medical records. To encourage physicians to adopt electronic health records, governments across many regions are investing in training the healthcare information technology workers and establishing regional extension centers to provide technical and other advice. Such initiatives by the governments are triggering the EMR market’s growth.
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.
Data Privacy is a Huge Concern
Electronic medical record (EMR) is increasingly being implemented in many countries to improve the quality of healthcare. However, as with any digital technology, concerns of breach of privacy exists in EMR as well. With these records, it is possible to reveal the identifiable health information of millions of patients, almost instantly. Due to data privacy issues, patients lost their trust on EMRs. The founder of Patient Privacy Rights, Dr. Deborah Peel, says that millions of people every year avoid treatment, because their health data is not private. Data privacy concerns are the primary restraints in the growth of the global electronic medical records market.
The other factors such as high initial investment, shortage of proper trained staff, inter-operability issues are also restraining the global market.
North America is leading the Electronic Medical Records Market
Geographically North America holds the largest market share of approximately more than 40% in 2016. The healthcare IT market in the United States is one of the most established market compared to other geographical regions. Also, 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. The healthcare sector in the Asia-Pacific region, has also witnessed significant growth in medication quality, efficiency, and accessibility for patients living in various areas of the country, in the past few years.
Key Developments in the Electronic Medical Records Market
- August 2017: Allscripts to acquire McKesson’s Enterprise Information Solutions business
- Major Players: eClinicalWorks, McKesson, Cerner Corporation, Allscripts, Meditech, GE Healthcare, Epic, Next Gen Healthcare, Vitera, and Greenway, among others
Reasons to Purchase Electronic Medical Records Market Report
- Current and future electronic medical records market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
Customize Electronic Medical Records Market Report
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1. Introduction
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry Within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Electronic Medical Records Market Drivers
6.1.1 Rising Need for Integrated Healthcare System
6.1.2 Government Initiatives Undertaken to Maintain Patient Health Records
6.1.3 Big-Data Trends in Healthcare Industry
6.1.4 Technological Advancements in the Field of Data Storage
6.2 Electronic Medical Records Market Restraints
6.2.1 Interoperability Issues
6.2.2 Data Privacy Concerns
6.2.3 High Initial Investment
6.2.4 Shortage of Trained Staff
6.3 Electronic Medical Records Market Opportunities
6.4 Electronic Medical Records Market Key Challenges
7. Market Segmentation
7.1 Electronic Medical Records Market By Component
7.1.1 Hardware
7.1.2 Software
7.1.3 Services & Consulting
7.2 Electronic Medical Records Market By End-user
7.2.1 Hospital-based EMR
7.2.2 Physician-based EMR
7.3 Electronic Medical Records Market By Functionality
7.3.1 Basic Systems
7.3.2 Fully Functional Systems
7.4 Electronic Medical Records Market By Application
7.4.1 Specialty based
7.4.1.1 Cardiology
7.4.1.2 Neurology
7.4.1.3 Radiology
7.4.1.4 Oncology
7.4.1.5 Others
7.4.2 General Applications
7.5 Electronic Medical Records Market By Type
7.5.1 Traditional EMRs
7.5.2 Speech enabled EMRs
7.5.3 Interoperable EMRs
7.5.4 Others
7.6 Electronic Medical Records Market By Mode of Delivery
7.6.1 Cloud Based
7.6.2 On-premise Model
7.7 Electronic Medical Records Market By Geography
7.7.1 North America
7.7.1.1 United states
7.7.1.2 Canada
7.7.1.3 Mexico
7.7.2 Europe
7.7.2.1 France
7.7.2.2 Germany
7.7.2.3 United kingdom
7.7.2.4 Italy
7.7.2.5 Spain
7.7.2.6 Rest of Europe
7.7.3 Asia-Pacific
7.7.3.1 China
7.7.3.2 Japan
7.7.3.3 India
7.7.3.4 Australia & New Zealand
7.7.3.5 South Korea
7.7.3.6 Rest of Asia-Pacific
7.7.4 Middle East & Africa
7.7.4.1 GCC
7.7.4.2 South Africa
7.7.4.3 Rest of the Middle East & Africa
7.7.5 South America
7.7.5.1 Brazil
7.7.5.2 Argentina
7.7.5.3 Rest of South America
8. Electronic Medical Records Market Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Product Launches
9. Electronic Medical Records Market Key Players
9.1 eClinicalWorks
9.2 McKesson
9.3 Cerner Corporation
9.4 Allscripts
9.5 Meditech
9.6 GE Healthcare
9.7 Epic
9.8 Next Gen Healthcare
9.9 Vitera
9.10 Greenway
9.11 *List Not Exhaustive
10. Future of the Electronic Medical Records Market
