Dublin, Nov. 21, 2018 (GLOBE NEWSWIRE) -- The "Hospital EMR Systems Market by Component (Hardware, Software, and Services), Mode of Delivery (Cloud based and on premise), Type (General EMR and Specialty EMR), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global hospital electronic medical records market is valued at an estimated USD 12.0 billion in 2018 and is projected to reach USD 18.3 billion by 2023, at a CAGR of 8.8% during the forecast period.
The key factors driving the growth of this market include the government support for the adoption of EMRs and the rising need to curtail healthcare costs. However, the high cost of EMR solutions is one of the major factors that is expected to restrain the growth of this market during the forecast period.
By component, the services segment to witness the highest growth during the forecast period (2018-2023).
Based on the component, the hospital electronic medical records (EMR) market is further segmented into services, software, and hardware. The services segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the recurring nature of services such as training and education, installation, consulting, and maintenance services. The healthcare IT industry relies heavily on service providers for consulting, storage, implementation, training, maintenance, and regular technology upgrades. The demand for services is expected to grow rapidly in the coming years due to the introduction of complex software and the integration and interoperability of software, which requires extensive training and upgrades.
Asia Pacific to witness the highest growth during the forecast period (2018-2023).
Asia Pacific is expected to witness the highest growth from 2018 to 2023. The highest growth rate of the Asia Pacific market is attributed to various investments and reforms to modernize China's healthcare infrastructure, the digital healthcare scenario in India, the One Singaporean, one health record initiative in Singapore, and the implementation of e-health initiatives in Australia.
The key players in the global hospital EMR market are Cerner Corporation (US), Epic Systems Corporation (US), athenahealth, Inc. (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US), Medical Information Technology, Inc. (US), MEDHOST (US), CPSI (US), and Intersystems Corporation (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Hospital EMR: Market Overview
4.2 North America: Hospital EMR Market, By Component (2018)
4.3 Hospital EMR Market: Geographic Growth Opportunities
5 Industry Insights
6 Market Overview
6.1 Introduction
6.2 Market Dynamics
6.2.1 Drivers
6.2.1.1 Government Support for the Adoption of EMR Solutions
6.2.1.2 Rising Need to Curtail Healthcare Costs
6.2.2 Restraints
6.2.2.1 Need for Significant Investments in Infrastructure Development and High Cost of Deployment
6.2.3 Opportunities
6.2.3.1 Cloud-Based EHR Solutions
6.2.4 Challenges
6.2.4.1 Interoperability Issues
7 Hospital EMR Market, By Component
7.1 Introduction
7.2 Services
7.2.1 Services Segment to Dominate the Hospital EMR Market During the Forecast Period
7.3 Software
7.3.1 Frequent Need for Upgrades and Improvements are Driving the Growth of the Software Market
7.4 Hardware
7.4.1 Increasing Adoption of Cloud-Based EMR to Restrain the Market for Hardware
8 Hospital EMR Market, By Mode of Delivery
8.1 Introduction
8.2 On-Premise
8.2.1 On-Premise Solutions Offer Enhanced Control, Safety of Inventory Data, and Cost Benefits in the Long Term
8.3 Cloud-Based
8.3.1 Cloud-Based Hospital EMR Solutions to Witness High Adoption in the Coming Years
9 Hospital EMR Market, By Type
9.1 Introduction
9.2 General EMR
9.2.1 General EMR to Register the Highest Growth Rate During the Forecast Period
9.3 Specialty EMR
9.3.1 High Cost of Specialty EMR is the Major Factor Responsible for Their Lower Adoption in the Market
10 Hospital EMR Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 US to Dominate the North American Hospital EMR Market in 2018; This Trend Will Continue During the Forecast Period
10.2.2 Canada
10.2.2.1 Canada to Witness the Highest Growth Rate in the North American Hospital EMR Market During the Forecast Period
10.3 Europe
10.3.1 Healthcare Digitization Initiatives and Programs to Modernize Healthcare to Drive the Adoption of EMRs in Europe
10.4 Asia Pacific
10.4.1 China and India to Provide High-Growth Opportunities for EMR Vendors
10.5 Rest of the World (RoW)
10.5.1 Middle East and Latin America-Lucrative Markets for EMR Vendors
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Scenario
11.2.1 Product Deployments
11.2.2 Product Launches
11.2.3 Expansions
11.2.4 Agreements, Collaborations, and Partnerships
11.2.5 Acquisitions
12 Company Profiles
12.1 Cerner Corporation
12.2 Epic Systems Corporation
12.3 Athenahealth
12.4 eClinicalWorks
12.5 Allscripts Healthcare Solutions, Inc.
12.6 Medical Information Technology, Inc. (MEDITECH)
12.7 MEDHOST
12.8 Computer Programs and Systems, Inc. (CPSI)
12.9 Intersystems Corporation
12.10 Cantata Health LLC
For more information about this report visit https://www.researchandmarkets.com/research/gfbxnf/18_3_billion?w=12
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