Electronic Health Records Market Analysis Report By Type, By End-use, By Product, By Business Models And Segment Forecasts From 2021 To 2028

Synopsis

The global electronic health records market was prized by USD 26.8 billion in 2020. It is projected to observe 3.7% CAGR from 2021 to 2028.

Drivers

The resourcefulness by the government, to promote the use of healthcare IT is the important driver of this market for electronic health records (EHRs). The initiation of technically highly developed healthcare services is, moreover, anticipated to steer the enlargement of the market.

Acquisitions, product presentation, latest growth actions, joint ventures, product authorizations have optimistically influenced the market, during current years. There has been a major growth in the demand for electronic health records because of the rising digitalization, sequentially; it is stimulating the expansion of the market.

Increasing insist for the centralization in addition to reorganization of healthcare management is, furthermore, expected to impel development of the electronic health record market. Besides, the growing figure of mergers & acquisitions by the companies is moreover enhancing the enlargement of the market.

Effect of Covid-19

Ever since the start of 2020, the Covid-19 pandemic has placed a substantial stress on the healthcare institutes. The pandemic has unfavorably influenced the revenues of main companies, because of the refuse in bookings of new-fangled business, since the purchasing decisions of certain customers and the projects are postponed, to concentrate on taking care of the patients, obtaining essential medicinal materials, and administrating their business, during this crisis.

COVID19 EHR market impact: 2.7% decline from 2019 to 2020

End Use Insight

The hospital section detained the major, above 61.0% share of the electronic health records market, in 2020. It will keep hold of supremacy, throughout the forecast period. The enlargement can be credited to the huge quantity of health check information, produced in hospitals. Besides, as contrast to ambulatory care centers, the price of setting up is fewer in hospitals. Moreover, this increases the expansion of the market.

On the other hand, the ambulatory end-use section is projected to record the highest CAGR, during the forecast period. Ambulatory care centers offer ease to the patients, in addition to healthcare suppliers.

Therefore, the increasing fame and amount of ambulatory care centers, through the world, are likely to impel the development of the section. As contrast to the small-scale ones, major ambulatory care centers observe elevated acceptance of EHRs, within this section.

Business Models Insight

In 2020, the professional services division held above 30.0% share and led the market. The increasing demand for professional services in the structure of preparation & teaching of employees of the clients, meant for supporting the design & execution of systems, authoritarian consulting, technological & function expertise, clinical procedure optimization, and project administration, will steer the division.

Product Insight

The web-based electronic health records division held above 54.0% revenue share and dominated the global market, in 2020. This substantial market share is credited to the reputation of web-based EHRs between the healthcare suppliers as well as physicians, those function on a minor range because these systems can be set up with no necessity of internal servers, in addition to can furthermore present wide-ranging improvements and customizations as per the necessity.

The client server-based product division is expected to demonstrate major enlargement, during the forecast period. Client-server-based electronic health records give a safer option for the clients because it presents internal data storage space, therefore averting information stealing. Moreover, as per the client necessities, these can be modified and are a beneficial alternative in the situation of multi-physician amenities. Contrasting to the web-based systems, they do not necessitate a steady internet connection. This additionally boosts the expansion of the division.

Type Insight

The acute type section detained the principal, above 47.0% share of the electronic health records market, in 2020. The expansion can be credited to the government resourcefulness for the implementation of EHRs in small-scale amenities.

Ambulatory EHRs are destined for make use in outpatient care amenities plus minor practices. Particularly in the Covid-19 pandemic, government encouragement intended for the acceptance of ambulatory EHRs is anticipated to increase the expansion of the market. As contrast to the inpatient structure, simple use of ambulatory EHRs is likely to impel the development of the segment. These EHRs takes care of a solo procedure and its patient, rather than a composite mesh of hospital departments.

Mostly, post-acute EHRs are utilized for supplying psychoanalysis services. Patient gets this following a stay in an acute care hospital. Post-acute care amenities contain long-term care hospitals, inpatient rehabilitation centers & hospitals and home health agencies. Increasing expenditure on post-acute care amenities is expected to increase the expansion of the section.

Regional Insight

In 2020, North America held the major, more than 45.0% revenue share of the global electronic health records market. The state will continue leading, throughout the forecast period, because of the strategies that encourage acceptance of the electronic health records, in addition to the accessibility of entrenched infrastructure, having greater digital literacy. The federal government projected the Federal Health IT Strategic Plan 2020-2025, in May 2020. It directs the important procedure of EHR by means of healthcare suppliers.

Asia Pacific is expected to be the highest rising local market, throughout the forecast period. This enlargement can be credited to the growing demand for excellence values & services. This is increasing the digitalization of healthcare, within the region.

The China Ministry of Health has described an accomplishment plan, designed for the use of services, associated to e-health through the nation, about extensive field of insurance plans, medicinal services, along with a substantial concentrate on the acceptance of electronic record arrangement, to permit data distribution through the national healthcare structure.

Companies

To maintain the competition, the leading companies of the market are in the process of acquisitions, product presentation, growth, and alliance. The reputable businesses, in addition to minor companies are spending on mergers & acquisitions, to achieve a reasonable advantage.

Some of the companies for electronic health records market are:

    • Cure MD Healthcare
    • Advanced MD, Inc.
    • HMS
    • eClinical Works
    • Epic Systems Corp.
    • All scripts Healthcare, LLC
    • Cerner Corp.
    • Greenway Health, LLC
    • DXC Technology Company
    • CPSI
    • Medical Information Technology, Inc.
    • Next Gen Healthcare, Inc.
    • McKesson Corp.
    • GE Healthcare

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global electronic health records market report on the basis of product, type, end-use, business models, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)
    • Client-server-based
    • Web-based

• Type Outlook (Revenue, USD Million, 2016 - 2028)
    • Acute
    • Ambulatory
    • Post-acute

• End Use Outlook (Revenue, USD Million, 2016 - 2028)
    • Hospitals
    • Ambulatory Care
        • Physician’s Clinic
        • Laboratories
        • Pharmacies

• Business Models Outlook (Revenue, USD Million, 2016 - 2028)
    • Licensed Software
    • Technology Resale
    • Subscriptions
    • Professional Services
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • The Netherlands
        • Sweden
        • Russia
    • Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • Singapore
    • Latin America
        • Brazil
    • Middle East & Africa
        • South Africa
        • Saudi Arabia