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

Market Snapshot

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.

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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.

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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

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

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1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
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. 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. 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
7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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