Global Electronic Medical Records (EMR) Market, 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, Specialised Clinics, Ambulatory Surgical Centres and Others), Delivery Mode (Client Based Setups, Cloud Based Setups, and Hybrid Setups) Industry Trends and Forecast to 2029.
Electronic Medical Records (EMR) Market Analysis and Insights
An electronic medical record (EMR) is a digital version of all the information you would typically find in a provider’s paper chart: medical history, diagnoses, medications, immunization dates, allergies, lab results and doctor’s notes. EMR are online medical records of the standard medical and clinical data from one provider’s office, mostly used by providers for diagnosis and treatment. Comprehensive and accurate documentation of a patient’s medical history, tests, diagnosis and treatment in EMR ensures appropriate care throughout the provider’s clinic.
EMR are more than just a replacement for paper records. They effectively allow communication and coordination among members of a healthcare team for optimal patient care.
The growing demand of EMR across the hospitals and various clinics around the globe is helping to boost the overall market growth. The rising technological advancements in the EMR software and services are also attributing in the growth of the market. The major market players are highly focusing on various new launches. In addition, the low maintenance and wider accessibility of EMRs also contributing in the rising demand for the market.
Global electronic medical record (EMR) market is expected to reach USD 44,025.00 million by 2029, growing at a CAGR of 7.2% in the forecast period of 2022 to 2029.
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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 2019 - 2015)
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Quantitative Units
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Revenue in USD Million
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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, Specialised 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, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest Of Asia-Pacific, Brazil, Argentina, Rest Of South America, South Africa, Egypt, Israel, U.A.E., Rest of Middle East and Africa.
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Market Players Covered
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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., PRACTO TECHNOLOGIES PVT. LTD., Curemd Healthcare, Infor-Med Inc., PracticeSuite Inc., Patient Now.
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Electronic Medical Record (EMR) Market Dynamics
Drivers
Rising technological advancements
The introduction of artificial intelligence (AI) in the development of EHRs software and advancements in software technology and the healthcare sector are also expected to accelerate the market's overall growth.
The EHR solutions are used for intelligently automate and simplify the electronic records management process in organizations across the globe.
Low maintenance and wider accessibility
The wider use of healthcare information systems and the easier integration and sharing of patient clinical information can facilitate a wider access to medical records. EMR can bring several advantages in terms of security solutions as well as improving the correctness and completeness of the patient records is expected to boost the growth of the global electronic medical records (EMR) market.
Growing investment in healthcare by the government and private sector
Healthcare expenditure has increased across the world as people's disposable income in various countries are increasing. Moreover, to accomplish the population requirements, the government bodies and healthcare organizations are taking the initiative by virtue of accelerating healthcare expenditure is expected to boost the growth of the global electronic medical records (EMR) market.
Opportunities
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Rising healthcare expenditure
The dramatic rise in the quality of research and increasing research opportunities is because of various strategic initiatives taken by the key market players in the electronic medical record market. They are taking initiatives such as product launch, collaborations, mergers, acquisitions and many more over the years and is expected to lead and create more opportunities in the market.
Also, the rise in healthcare expenditure will provide structural integrity and future opportunities for the electronic medical record market in the forecast period of 2022-2029.
Restraints/Challenges
- High cost associated with EHR Service
The maintenance cost of on-premise solutions and cost of EHR service is very high which can hinder the market growth in the coming years.
There are various privacy and security issues regarding the electronic medical records (EMR). Consequently, the concerns related to patient’s personal data and safety and number of security breaches and maintenance cost of on premise solutions, and high implementation are projected to restraints the electronic medical records (EMR) market.
Post COVID-19 Impact on Electronic Medical Record (EMR) Market
The COVID-19 has positively affected the market. Lockdowns and isolation during pandemics complicate the disease management and medication adherence. The lack of access to health-care facilities for routine treatment and medication administration will further affect the market.
Recent Development
- 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.
The Global Electronic Medical Record (EMR) Market Scope
Global electronic medical records (EMR) market is categorized into five notable segments such as component, type, application, end user and delivery mode. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Component
- Software
- Services
On the basis of component, the global electronic medical record (EMR) market is segmented into software and services.
Type
- Traditional EMR
- Speech Enabled EMR
- Interoperable EMR
- Others
On the basis of type, the global electronic medical records (EMR) market is segmented into traditional EMR, Speech Enabled EMR, Interoperable EMR and others.
Application
- Speciality Application
- General Application
On the basis of application, the global electronic medical records (EMR) market is segmented into speciality application and general application.
End User
- Hospitals
- General Physician Clinics
- Specialized Clinics
- Ambulatory Surgical Centres
- Others
On the basis of end user, the global electronic medical records (EMR) market is segmented into hospitals, general physician clinics, specialized clinics, ambulatory surgical centres and others.
Delivery Mode
- Client Based Setups
- Cloud Based Setups
- Hybrid Setups
On the basis of delivery mode, the global electronic medical records (EMR) market is segmented into client based setups, cloud based setups and hybrid setups.
Electronic Medical Record (EMR) Market Regional Analysis/Insights
The electronic medical records (EMR) market is analysed and market size insights and trends are provided by country, component, type, application, end user and delivery modes referenced above.
North America dominates the electronic medical record (EMR) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to implementing awareness programs regarding EMR of the electronic medical record (EMR) and rise in technology advancement further improves this market growth.
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Electronic Medical Record (EMR) Market Share Analysis
The electronic medical record (EMR) market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on electronic medical record (EMR) market.
Some of the major companies which are dealing in the market 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., PRACTO TECHNOLOGIES PVT. LTD., Curemd Healthcare, Infor-Med Inc., PracticeSuite Inc., Patient Now and among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs. Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
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