What is the global market size of Electronic Medical Record Market?

Global Electronic Medical Record Market size was valued at USD 26.99 billion in 2021 and is poised to grow from USD 28.1 billion in 2022 to USD 38.5 billion by 2030, growing at a CAGR of 4.1% in the forecast period (2023-2030).

Global Electronic Medical Record Market Size, Share, Growth Analysis, By Software(Client-server-based and Web-based), By Application(Hospitals, Specialty), By End-User(Hospitals, Specialized Clinics) - Industry Forecast 2024-2031

Report ID: SQMIG35G2134 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 90 | Figures: 76

Global Electronic Medical Record Market Insights

Electronic Medical Record Market size was valued at USD 26.99 billion in 2019 and is poised to grow from USD 28.1 billion in 2023 to USD 38.5 billion by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).

The term "electronic medical records" (EMRs) refers to digital records that contain health-related data about the patient. Demographics, medical history, medications, allergies, radiology reports, vaccination status, results from lab tests, vital signs, and billing information are all included. Both on-premises software and cloud computing are options for deploying EMRs.

On-premises solutions are used for local computing requirements, while cloud-based solutions enable centralized data storage and online access across multiple locations. These deliberate records help in following and checking patients, distinguishing designs and working on the nature of medical care being advertised. They can also improve patient safety and health outcomes by enhancing communication and productivity between healthcare providers and patients.

Electronic Health Records (EHR) systems are gaining popularity as the healthcare industry moves toward digitization.The Electronic Health Records Market is expanding due to numerous government initiatives, such as encouraging physicians to use electronic health records and investing in education for healthcare information technology professionals.

For instance, the Indian government intends to establish a standardized procedure for the hospitals and healthcare providers in the nation to follow when it comes to the upkeep of electronic medical records (EMRs) and electronic health records (EHRs).To define EMR/EHR standards for national acceptance and implementation, an expert committee was established.

US Electronic Medical Record Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Electronic Medical Record Market Report Snapshots

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There are numerous global and international market players in the electronic medical records market, making it highly competitive.To increase their market presence, the major players are implementing a variety of growth strategies, including partnerships, agreements, collaborations, new product launches, geographic expansions, mergers, and acquisitions. 'Epic Systems Corp', 'Cerner Corp', 'GE Healthcare', ' Allscripts Healthcare Solutions, Inc. ', ' Athenahealth, Inc. ', ' eClinicalWorks LLC ', ' McKesson Corporation ', ' NextGen Healthcare Information Systems, LLC ', ' Greenway Health, LLC ', ' Meditech ', ' CPSI ', ' AdvancedMD, Inc. ', ' MEDHOST, Inc. ', ' Netsmart Technologies, Inc. ', ' Healthland Inc. ', ' Carestream Health Inc. ', ' M*Modal ', ' Aprima Medical Software Inc. ', ' AmazingCharts ', ' Prognosis Innovation Healthcare. '

As more people develop chronic illnesses and medical problems such as diabetes, skin infections, cancer, and orthopedic conditions, more people will visit hospitals for specialized services throughout the projected period, which will be the main factor driving the market for electronic medical records. The growing initiatives undertaken by governments across the world and the growing technical improvements in the healthcare sector are two additional major factors that will likely cause the electronic medical record market to grow in the years to come. Additionally, the need for quick, informal access to patient records among clinicians is predicted to drive growth in the EMR market throughout the course of the projection period.

It is anticipated that the cloud-based segment will hold a significant share in terms of delivery method. Cloud-based solutions, on the other hand, use more recent methods and are typically utilized by businesses that do not have the internal infrastructure to support them. These systems are less expensive to install than client-server-based systems. Additionally, these software types eliminate the requirement for in-house maintenance, which is probably the primary driver of their rising demand. Cloud-based medical records have seen an increase in usage since the pandemic began.

North America led the market for electronic health records and accounted for the majority of revenue generated in the sector. When compared to other regions, the healthcare IT market in the United States is one of the most established. Due to stringent regulatory requirements, the majority of the region's hospitals and clinics have extensively implemented EHR solutions. EHR systems have been implemented most widely in this region by the United States of America and Canada. For instance, the latest advancement in the digital integration of TELUS Health's employer-focused virtual care service, Akira by TELUS Health, with its electronic medical records (EMRs), which was unveiled in March 2021, can be found here. In addition, a number of businesses are implementing a variety of strategies to maintain and expand their market share, including partnerships, the introduction of new products, mergers, and acquisitions.

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Global Electronic Medical Record Market Size, Share, Growth Analysis, By Software(Client-server-based and Web-based), By Application(Hospitals, Specialty), By End-User(Hospitals, Specialized Clinics) - Industry Forecast 2024-2031

Global Electronic Medical Record Market Insights

Global Electronic Medical Record Market Report Snapshots

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