The growing demand for EMR across hospitals and various clinics around the globe is helping to boost overall market growth. The rising technological advancements in EMR software and services are also contributing to the growth of the market. The major market players are highly focused on various new launches. In addition, the low maintenance and wider accessibility of EMRs also contribute to the rising demand for the market.
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The North America Electronic Medical Records (EMR) Market is growing in the forecast year due to the rise in market players and the availability of various electronic medical records (EMR) brands in the market. Along with this, manufacturers are engaged in producing different products in the market. The increasing government funding in the healthcare sector is further boosting market growth. However, the high cost associated with EMR services and data safety and privacy security issues might hamper the North America electronic medical records (EMR) market growth in the forecast period.
Data Bridge Market Research analyses that the North America electronic medical records (EMR) market is expected to grow at a CAGR of 7.5% from 2022 to 2029 and is expected to reach USD 29,307.56 million by 2029. The component is projected to propel the market's growth as they are widely used for EMR.
Key Findings of the Study
Rising Technological Advancements
An electronic medical record is a digital representation of a patient's paper-based medical information. These electronic medical records aim to improve the overall quality of care. Clinical, financial, demographic, and coded healthcare data are part of electronic medical records.
For instance,
- The introduction of artificial intelligence (AI) in the development of EHR software and advancements in software technology and the healthcare sector are also expected to accelerate the market's overall growth.
EHR solutions are used to intelligently automate and simplify the electronic records management process in organizations across the globe.
With the help of these instances, we can say that rising technological advancement in the globe is expected to boost the growth of the North America electronic medical records (EMR) market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2020-2016)
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Quantitative Units
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Revenue in Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Component (Software and Services), Type (Traditional EMR, Speech Enabled EMR, Interoperable EMR, and Others), Application (Specialty Application and General Application), End User (Hospitals, General Physician Clinics, Specialized Clinics, Ambulatory Surgical Centres, and Others), Delivery Mode (Client Based Setups, Cloud Based Setups, and Hybrid Setups).
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Countries Covered
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U.S., Canada, and Mexico.
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Market Players Covered
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Epic Systems Corporation (U.S.), Greenway Health LLC (U.S.), NXGN Management, LLC, (U.S.), Experity (U.S.), InSync Healthcare Solutions (U.S.), InterSystems Corporation (U.S.), eClinical Works (U.S.), Oracle (U.S.), Allscripts Healthcare, LLC (U.S.), Athenahealth (U.S.) Medical Information Technology Inc. (U.S.), Health Catalyst (U.S.), Carecloud Inc. (U.S.), Medhost (U.S.), CureMD Healthcare (U.S.), Infor-Med Inc. (U.S.), PracticeSuite Inc. (U.S.), PatientNow (U.S.), and WebPT (U.S.), among others.
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The North America electronic medical records (EMR) market is categorized into five notable segments such as component, type, application, end user, and delivery mode.
- On the basis of component, the North America electronic medical records (EMR) market is segmented into software and services.
In 2022, the software segment dominated the market as these products are largely utilized in various countries in the region.
- On the basis of type, the North America electronic medical records (EMR) market is segmented into traditional EMR, speech enabled EMR, interoperable EMR, and others. In 2022, interoperable EMR segment dominated the North America electronic medical records (EMR) market with a 52.55% market share and is expected to reach USD 16,181.67 million by 2029, growing with the CAGR of 8.3% in the forecast period of 2022 to 2029.
- On the basis of application, the North America electronic medical records (EMR) market is segmented into specialty application and general application. In 2022, the specialty application segment dominated the North America electronic medical records (EMR) market with a 58.70% market share and is expected to reach USD 17,618.24 million by 2029, growing with the CAGR of 7.9% in the forecast period of 2022 to 2029.
- On the basis of end user, the North America electronic medical records (EMR) market is segmented into hospitals, general physician clinics, specialized clinics, ambulatory surgery centers, and others. In 2022, the hospitals segment dominated the North America electronic medical records (EMR) market with a 28.68% market share and is expected to reach USD 9,312.63 million by 2029, growing with the CAGR of 9.1% in the forecast period of 2022 to 2029.
- On the basis of delivery mode, the North America electronic medical records (EMR) market is segmented into client server setups, cloud based setups, and hybrid setups. In 2022, cloud based setups segment dominated the North America electronic medical records (EMR) market with a 57.43% market share and is expected to reach USD 17,299.33 million by 2029, growing with the CAGR of 8.0% in the forecast period of 2022 to 2029.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in North America Electronic Medical Records (EMR) market are Epic Systems Corporation, Greenway Health LLC, NextGen Healthcare Inc., Experity, Insync Healthcare, InterSystems Corporation, Eclinical Works, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Cerner Corporation, Medical Information Technology Inc., Health Catalyst, Carecloud Inc., Medhost, WEBPT Inc., Curemd Healthcare, Infor-Med Inc., PracticeSuite Inc., and Patient Now and among others.
Market Development
- In September 2022, Health Catalyst was recognized as the platform to create efficiencies in the EHR to alleviate burnout among physicians. This was published in Becker's hospital review article. Physicians have reported high burnout due to EHR, and they are spending more time on EHR tasks rather than in clinical hours. However, according to the MD, Vice President, and Chief Transformation Officer at community health network Patrick McGill, the EHR platform of Health Catalyst is smooth and easy to handle as compared to other platforms.
- In September 2022, Epic Systems Corporation announced the release of its Life Sciences program, expanding its work to bring together the disconnected parts of healthcare. The program is built to help providers, pharmaceutical companies, and medical device manufacturers recruit research participants, expand clinical trial access to underrepresented communities, and speed up the development of new therapies.
- In October 2022, as per the company's press release, CareCloud, Inc. was recognized as the 2022 best in KLAS Small Practice Ambulatory Electronic Medical Record and Practice Management category. KLAS Research taps into valuable medical provider feedback to help other providers make the best healthcare technology decisions for their medical practices.
- In October 2022, Greenway Health LLC, a leading health information technology services provider, announced its newest partnership with Associates in Resource Management (ARM), a one-source partner for Rural Health Centers (RHC), Federal Qualified Health Centers (FQHC), and Private Practices in the states of Kentucky, Tennessee, and Alabama.
- In August 2022, Experity, the national leader in on-demand care solutions, announced the appointment of Amy Amick to its Board of Directors. Ms. Amick is a veteran of the healthcare technology industry and most recently served as President and Chief Executive Officer of SPH Analytics (SPH), the national leader in member experience measurement and engagement for the health insurance industry.
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