USD 5.8 billion
Report ID: SQSG35G2018 | Region: Global | Published Date: April, 2023 | Pages: 248 | Tables: 66 | Figures: 75
Ambulatory Electronic Health Record Market size was valued at USD 5.8 billion in 2021 and is poised to grow from USD 6.12 billion in 2022 to USD 9.6 billion by 2030, growing at a CAGR of 5.76% in the forecast period (2023-2030).
The term "electronic health record" refers to the patient's paper chart's digital equivalent (EHR). EHRs serve as the patient's record, enabling authorised people to safely access the data about the patient. EHR contains a variety of data, including medical history, drug allergies and status, immunisation status, personal statistics, lab test results, demographics, etc. Through network-connected systems or other information exchange systems, the data on EHR can be distributed among various healthcare settings. EHRs enable doctors to make better decisions and provide better patient care coordination.
Over the course of the projection period, it is predicted that the global ambulatory EHR market would expand significantly. One of the key factors contributing to the market's expansion is the rise in EHR solution utilisation. During the projected period, the worldwide ambulatory EHR market is expected to develop due to reasons such as automated data entry, simple billing management, supporting clinical decision-making, secure medical information transmission, minimal time needed for billing, etc. Additionally, the rise in demand for healthcare services, government support for the use of HCIT (Healthcare Information Technologies), and other important factors will continue to propel the growth of the global ambulatory EHR market through 2028.
US Ambulatory Electronic Health Record Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.8 billion
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The global ambulatory electronic health record market segmentation is based on deployment, application, and region. Based on deployment the market is segmented into cloud-based, and on-premises. Based on application the market is segmented into e-prescribing, health analytics, practice management, referral management, patient management, decision support, and population health management. Based on region the global ambulatory electronic health record market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Ambulatory Electronic Health Record Market Analysis by Deployment
In 2021, the cloud-based segment dominated the global ambulatory electronic health record market. A growing need for managing large patient data sets and an increased inclination towards cloud-based platforms due to benefits like convenient access, mobility, reduced maintenance costs, flexibility, and improved data security are driving the growth of the cloud-based market in the upcoming years. Cost-effective services and the benefits of consumer-friendly software components are a couple of the factors propelling the market for cloud-based solutions. These electronic health records are cloud-based, which enhances their security by managing and storing patient information. Additionally, they let doctors and other healthcare professionals manage who has access to private data.
Ambulatory Electronic Health Record Market Analysis by Application
Over the forecast years, the practice management sector is estimated to account for the highest revenue share. A growing market for sophisticated electronic health records solutions for upcoming appointments, ability to handle patient data, and billing tasks can be driven by the rising patient admissions, the quick implementation of EHR systems in ambulatory care for improved management of clinical practices, and lower transcription costs, and the increase in patient admissions.
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In 2021, North America accounted for the majority of ambulatory EHR market share. During the projected timeline, North America is projected to have the largest revenue share in the global market. The rise in chronic illness incidence and emergency room visits, the quick adoption of EHR systems in ambulatory care services across the area, and high health insurance costs are some of the factors contributing to revenue growth. Increased government and private sector spending, growing knowledge of the advantages of EHR systems for ambulatory centers, and a strong focus on the development of cutting-edge EHR software are all expected to contribute to the growth of the North American market over the forecast years.
A large portion of the potential for the global ambulatory electronic health record (EHR) market is in the Asia Pacific and Middle East & Africa regions due to the rising demand for intelligent systems, the shortcomings of traditional clinical processes, and significant investments made by governmental and non-profit organizations. During the projection period, it is anticipated that the Asia Pacific market will rise more quickly. Due to factors like rising disposable income, acceptance of healthcare solutions for higher quality of life, increased knowledge of healthcare, and widespread use of digital solutions in nations like China and India, among others, the Asia Pacific region is the most attractive market.
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Ambulatory Electronic Health Record Market Driver
Ambulatory Electronic Health Record Market Restraint
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The ambulatory EHR market is competitive, fragmented, and dominated by a small number of major players. The majority of businesses in the market are technologically competent, but they need a lot of help to expand their operations and improve their services. As a result, mergers and acquisitions have a significant chance of grabbing the interest of a sizable number of hospitals and providers from around the industrialized globe. For instance, to streamline the process of onboarding hospitals, Medical Information Technology Inc. collaborated with MedPower, LLC in April 2021 to offer online training courses to hospitals that utilize MEDITECH's EHR systems.
Ambulatory Electronic Health Record Market Top Player’s Company Profiles
Ambulatory Electronic Health Record Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, in 2021, the global market for ambulatory electronic health records was dominated by cloud-based solutions. The practice management industry is expected to contribute the largest share of revenues during the forecasted years. The largest market share for ambulatory EHR was in North America in 2021. The Asia Pacific and Middle East & Africa regions have a substantial percentage of the potential for the worldwide ambulatory electronic health record (EHR) market.
|Market size value in 2021||USD 5.8 billion|
|Market size value in 2030||USD 6.12 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Ambulatory Electronic Health Record Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ambulatory Electronic Health Record Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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