REPORT HIGHLIGHT
Electronic Medical Records Market size was valued at USD 28,767.5 Million in 2022, expanding at a CAGR of 3.6% from 2023 to 2030.
Medical records on paper are converted to digital form in electronic medical records (EMRs). They are thorough computerized records that include a patient's medical background, diagnosis, prognoses, treatments, prescriptions, test outcomes, and other pertinent data. Within a single healthcare institution, EMRs are made to make it easier for healthcare providers to store, access, and share patient health information.
Electronic Medical Records Market- Market Dynamics:
Improved productivity and enhance patient care using EMRs is expected to propel the Electronic Medical Records demand.
EMRs significantly increase the productivity and efficiency of healthcare providers. They streamline workflows and save paperwork by automating a variety of operations, including appointment scheduling, documentation, prescription writing, and invoicing. Due to being able to devote more time to patient care, healthcare personnel are more productive. EMRs give medical professionals access to thorough and current patient data, such as medical history, medication information, allergy information, and test results. Healthcare practitioners may make better decisions, make diagnoses with greater accuracy, and care for patients more effectively with the use of this information. Through alerts and reminders, EMRs also assist in reducing medical errors, such as medication errors.
Many countries' governments and regulatory agencies have put in place rules and regulations to support the use of EMRs. The Health Information Technology for Economic and Clinical Health (HITECH) Act, for instance, offers financial incentives to healthcare providers in the United States.
Electronic Medical Records Market- Key Insights:
- As per the analysis shared by our research analyst, the global Electronic Medical Records market is estimated to grow annually at a CAGR of around 3.6 % over the forecast period (2023-2030)
- The Electronic Medical Records industry is projected to grow at a significant rate due to the growing focus on animal health and nutrition.
- Based on Product, client-server based EMR segment was predicted to show maximum market share in the year 2022.
- Based on End User, hospital segment is expected to hold significant market share by 2030.
- Based on Type segmentation, acute segment was the leading in 2022
On the basis of region, North America was the leading revenue generator in 2022.
Electronic Medical Records Market- Segmentation Analysis:
The Global Electronic Medical Records Market is segmented on the basis of Type, Product, End User, and Region.
The market is divided into three categories based on Type: acute, ambulatory, and post-acute. The acute segment dominates the market. Growing adoption of acute EMR at small care hospitals is contributing to market growth.
The market is divided into two categories based on Product: client-server based EMR, web based EMR. The web based EMR segment dominates the market. Increasing popularity of web based EMR is influencing the market growth.
The market is divided into three categories based on End User: hospitals, ambulatory care centers, and others. The hospitals segment dominates the market. Electronic Medical Records are widely used in hospitals for major medical records, which is increasing the segment growth.
Electronic Medical Records Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Electronic Medical Records Market- Competitive Landscape:
Due to the rising R&D investment in medical records management, technology development, medical infrastructure which influence the Electronic Medical Records market. Several software developers, including corporate websites, and products, are used by businesses to sell their Types. Software or technology providers compete on various factors, such as advanced technology, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and grow their market share include new software development, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In December 2021, Oracle acquired Cerner Corporation to expand their medical electronic records product & service portfolio.
Key features of the study:
- This proposed research study on Electronic Medical Records market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Electronic Medical Records market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Electronic Medical Records market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Electronic Medical Records market
- Impact of COVID-19 on Electronic Medical Records market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Electronic Medical Records market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Electronic Medical Records market, we have also included competitive landscape and key innovator analysis for the Electronic Medical Records market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial in Type and strategic initiatives of players operating in the Electronic Medical Records market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Electronic Medical Records market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRONIC MEDICAL RECORDS MARKET KEY PLAYERS
- Oracle
- GE Healthcare
- Allscripts Healthcare, LLC
- McKesson Corporation
- Epic Systems Corporation
- NextGen Healthcare, Inc.
- eClinicalWorks
- Medical Information Technology, Inc.
- Health Information Management Systems
- CPSI
- AdvancedMD, Inc.
- CureMD Healthcare
- Greenway Health, LLC
GLOBAL ELECTRONIC MEDICAL RECORDS MARKET, BY TYPE
- Acute
- Ambulatory
- Post-acute
GLOBAL ELECTRONIC MEDICAL RECORDS MARKET, BY PRODUCT
- Client-server based EMR
- Web based EMR
GLOBAL ELECTRONIC MEDICAL RECORDS MARKET, BY END USER
- Hospitals
- Ambulatory care centers
- Others
GLOBAL ELECTRONIC MEDICAL RECORDS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA