March 31, 2020

Electronic Health Records (EHR) Market will be growing at a CAGR of 5.9% during the forecast period from 2018 to 2026

The latest market report published by Credence Research, Inc. “Electronic Health Records (EHR) Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” The global market for electronic health records (EHR) was valued at US$ 24,222.5 million in 2017 and increased to CAGR by 5.9 per cent from 2018 to 2026.

Market Insights

Electronic Health Records (EHR) has evolved over the last decade from simply being a digital form of patient paper charts to becoming a healthcare tool for capturing, storing and sharing holistic patient medical history. EHRs are becoming an essential part of an integrated and value-based healthcare network and repository of clinical evidence that plays a key role in decision-making in healthcare settings. EHR can store patient’s medical history, medications, diagnostics, treatment regimens, allergies, radiology, and laboratory test results.

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EHR also helps to streamline administrative workflows in any healthcare setting, starting with payment appointments and follow-up assistance. Growing inclination towards the automation and acceptance of software solutions for clinical decision-making systems, radiology information systems and healthcare IT solutions is a key driver of the electronic health record market. The number of healthcare institutions in developed countries is adopting technologically advanced patient management solutions to eliminate human error and to save time and cost in the long run. Technological developments in surgical techniques, operating rooms, increasing consumer demand for minimally invasive surgeries, radiological imaging systems and other health services have increased the demand for EHR.

As far as the end-user segment is concerned, hospitals held the largest share in the global electronic health record (EHR) market. Several functions of patient management, including patient entry, registration, storage of reports, and the medical directory, are currently used in hospital settings by electronic health records. In addition, increasing the footprint of patients in hospitals and the requirement to adapt to strict standards to ensure minimal error in patient safety has accelerated the adoption of EHR in hospitals.  Ambulatory care centers (ASCs) are projected to show the fastest growth rate during the forecast period due to the increasing number of ASCs in North America and Europe equipped with advanced medical devices and software solutions.

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From a geographical point of view, North America held the largest market share in electronic health records worldwide. Key factors that support market growth include the need for centralized storage of standard-compliant health data, government initiatives and support for the use of advanced health information and technology systems and cost-related benefits. Increased healthcare costs and rapid demographic changes have forced governments in North America to emphasize the adoption of EHR to increase hospital productivity and clinical outcomes. Governments have also approved significant economic and legislative incentives to promote the digitization of healthcare workflows that support the overall EHR market in North America. Asia Pacific emerged as the fastest growing region due to the growing hospital infrastructure in countries such as China, India, Indonesia and Singapore. Growing medical tourism in the region has increased the growth of EHR solutions in the region for rapid and error-based medical procedures in the region.

The prominent players operating the global electronic health records (EHR) market are Cerner Corporation, McKesson Corporation, GE Healthcare, Allscripts Healthcare Solutions, Epic Systems Corporation, Greenway Health, LLC and eClinicalWorks, athenahealth among others.

Key Market Movements:

  • Growing need for electronic health records in hospitals and other healthcare setting
  • Integration of healthcare information systems and advancements in healthcare IT
  • Emphasis on digitization of healthcare industry to save resources and cost saving in long run
  • Favorable government initiative in developed countries and developing countries to promote digital healthcare

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 [Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Delivery Mode Type

  • On-Premise/Server Based
  • Cloud-Based
  • Web-Based

By Product Type

  • Inpatient EHR
  • Ambulatory EHR

By End-User Type

  • Hospitals
  • Clinics and Diagnostic Centers
  • Ambulatory Care Centers
  • Others  (Emergency Care Centers, Specialty Care)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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