Global Electronic Health Record Software Market Size, Share & COVID-19 Impact Analysis, By Type (Ambulatory, Acute and Post-Acute), By Product (Web Based and Client-Server Based), By End-User (Hospital, Ambulatory, Physicians Clinic, Pharmacy and Laboratories) and Regional Forecasts, 2022-2028
Chicago, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Electronic Health Record Software Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Teams of experienced and consummate market research professionals persistently track key industries to spot key developments, unmet needs and possible growth opportunities. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this Electronic Health Record Software report. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
The global electronic health record software market is expected to exhibit strong growth, reaching USD 47.2 billion by 2028. As per the report titled "Electronic health record software Market Size, Share & COVID-19 Impact Analysis, By Type (Ambulatory, Acute and Post-Acute), By Product (Web Based and Client-Server Based), By End-User (Hospital, Ambulatory, Physicians Clinic, Pharmacy and Laboratories) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 30.6 billion and USD 47.2 billion in 2028. The market is expected to exhibit a CAGR of 7.50% during the forecast period.
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Electronic Health Record Software Market Analysis:
The global demand for EMR among hospitals and clinics is increasing, boosting the market's overall growth. The market is expanding as a result of the increasing technological developments in EMR software and services. Additionally, the adoption of artificial intelligence (AI) in the creation of EHR software and improvements in software and the healthcare industry are also anticipated to hasten the market's expansion. The leading market participants are putting a lot of effort into several new releases. EMRs' low maintenance requirements and increased accessibility are key factors in the market's increasing demand. Moreover, as people's disposable income has increased in many countries, healthcare costs have increased everywhere. Additionally, government agencies and healthcare organizations are taking the lead in meeting population needs by increasing healthcare spending, which is anticipated to support the expansion of the global electronic medical records (EMR) market.
List Of Key Companies Profiled:
- Allscripts Healthcare, LLC
- GE Healthcare
- Cerner Corporation
- Epic Systems Corporation
- McKesson Corporation
- NextGen Healthcare, Inc.
- CureMD Healthcare
- Medical Information Technology, Inc.
- AdvancedMD, Inc.
- Greenway Health, LLC
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the electronic health record software market plan acquisitions to improve their brand recognition globally. For instance, in December 2021, Oracle paid USD 28.3 billion to acquire Cerner Corporation. This acquisition strengthened Oracle's position in the EHR Market because Cerner held a dominant position in the industry.
Visionflex Recently Announced New Partnership with an Australian Provider of Cloud-Based EHR MediRecords
With MediRecords, an Australian company that offers cloud-based electronic medical records and practice management systems, Visionflex has entered a new partnership. The firms will cooperate to integrate the cloud-based practice management and electronic health record software platforms from MediRecords with Visionflex's Vision video conferencing platform.
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Driving Factors:
- More Government Initiatives and Partnerships are Opening up New Prospects for Market Growth
Growing government initiatives to implement plans for lowering administrative burdens on healthcare providers related to the use of EHR are a major factor creating new opportunities for players, as are company acquisitions, collaborations, and implementation of electronic health record software globally. For instance, My Health Record is Australia's regional national digital health record platform. Every Australian citizen has access to the "My Health Record" program. By the end of 2022, according to the Australian Digital Health Agency (ADHA), all Australian healthcare providers will be able to contribute to and access the platform's database of medical data. Such government actions promote market expansion.
- Electronic Health Record Software Technological Breakthroughs are Fueling Industry Expansion
During the projected period, market growth is anticipated to be driven by technological advancements in the electronic health record software sector. Software derived from artificial intelligence seamlessly integrates and offers options with a variety of characteristics. Machine learning and natural language processing can be aided by documenting a patient's medical experience, searching through huge databases for crucial records, and gauging patient satisfaction. Healthcare providers who use speech-to-text recognition systems can benefit from the combination of machine learning mode and NLP.
Restraining Factors:
- High Prices for Electronic Health Record Software are Impeding Market Expansion
The high cost of electronic health record software is hampering the market's expansion. Implementing, creating, and upkeep software for electronic health records are expensive. The expensive cost of EHR prevents widespread adoption in many emerging economies. Additionally, the cost of developing AI algorithms and programs is high for developing countries, which has slightly hampered the market. The market for electronic health record software is anticipated to be hampered by a lack of IT infrastructure in low-income nations and a shortage of individuals with the necessary skills and knowledge to apply complicated AI and machine learning algorithms. Therefore, the high price of EHR software is limiting market expansion.
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Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 7.50 % |
| 2028 Value Projection | 47.2 billion |
| Base Year | 2022 |
| Market Size in 2021 | 30.6 billion |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Type, By Product, By End-User and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Global Electronic Health Record Software Market Segmentations:
Global Electronic Health Record Software Market By Type:
- Ambulatory
- Acute
- Post-Acute
Global Electronic Health Record Software Market By Product:
- Web Based
- Client-Server Based
Global Electronic Health Record Software Market By End User:
- Hospital
- Ambulatory
- Physicians Clinic
- Pharmacy
- Laboratories
Global Electronic Health Record Software Market Regional Insights:
North America is projected to hold the largest electronic health record software market share over the forecast period. EHR software and the availability of a robust healthcare infrastructure with high levels of digital literacy are credited with driving the increase. Akira by TELUS Health, a virtual care service geared for employers, will now be digitally integrated with TELUS HealthCare's electronic medical records, the company said in March 2021.
Further Report Findings
- The market in North America is expected to gain a huge portion of the global electronic health record software market share in the coming years because more major firms are working to create cutting-edge medical technology, there are EHR service providers, and the healthcare system is well-established.
- Regional growth will also be aided during the projection period by rising private and public investment in implementing electronic health records.
- In Asia Pacific, the growth in this region is primarily driven by increased demand for high-quality standards and services, which is encouraging the region's healthcare sector to go digital.
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Electronic Health Record Software Market Report Answers the Following Questions:
- How much revenue will the Electronic Health Record Software market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Electronic Health Record Software market?
- Which regions are currently contributing the maximum share of the overall Electronic Health Record Software market?
- What indicators are likely to stimulate the Electronic Health Record Software market?
- What are the main strategies of the major players in the Electronic Health Record Software market to expand their geographic presence?
- What are the main advances in the Electronic Health Record Software market?
- How do regulatory standards affect the Electronic Health Record Software market?
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Structural Battery Market, By Type Segment Analysis
Chapter 5: Global Structural Battery Market, By Product Segment Analysis
Chapter 6: Global Structural Battery Market, By End User Segment Analysis
Chapter 7: Structural Battery Market – Regional Analysis, 2022 – 2030
Chapter 8: Structural Battery Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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