Market Size of United States EHR Cloud Computing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.58 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US EHR Cloud Computing Market Analysis
The United States EHR Cloud Computing Market is expected to register a CAGR of 11.58% over the forecast period from 2022 to 2027. The growing trend of digitalization of healthcare, the integration of advanced AI/ML algorithms, cloud deployment of healthcare systems, rising expenditure, inefficient facility management, and overburdened systems are creating a surge in demand for the Electronic Health Record cloud computing market.
- The COVID-19 pandemic is expected to have an overall positive effect on the market. It has driven an increased understanding of the potential of cloud technologies, which provide data storage and computing resources managed by external service providers to help enhance EHR's safety, quality, and efficiency.
- Cloud computing in healthcare has carried a huge shift in the creation, storage, consumption, and sharing of medical data. The development of the healthcare cloud computing market is mainly driven by factors such as the growing adoption of EHR, e-prescribing, telehealth, mHealth, and other healthcare IT solutions due to COVID-19.
- The rise in the adoption of EHR increased the use of cloud-based EHR software, the rapid surge in the aging population, and the subsequent rise in the number of chronic diseases drive the market growth in the United States. Moreover, the increase in adoption of big data analytics, IoT, and wearable devices, and increased cloud deployment in the healthcare sector due to the benefits such as scalability of data, flexibility, increased storage, and cost efficiency of cloud is driving the cloud-based EHR market.
- However, the high cost of EHR and increased concerns regarding patient data safety & security are expected to impede the market growth. Moreover, the huge market potential in the United States is expected to offer further opportunities for market growth during the forecast period.
- Increasing number of mergers and acquisitions to boost the market growth. In December 2021, Oracle announced the acquisition of EHR vendor Cerner. The acquisition will help medical professionals with a new generation of easier-to-use cloud-based tools that enable access to information via a hands-free voice interface to secure cloud applications.
