NEW YORK, April 24, 2019 (GLOBE NEWSWIRE) -- The demand for global electronic health records (EHRs) market was valued at USD 24.7 billion in 2018, and is expected to account for USD 36.2 billion by 2025, while actuating at an estimated CAGR of 5.6% from 2019 to 2025. The market growth is primarily attributed to the growing investments by healthcare IT players, and growing demand for better healthcare facilities. Moreover, increasing demand for cloud-based EHRs, and rising government initiatives is further boosting the industry growth. However, patient data safety and security issues, and lack of skilled professionals may restraint the industry growth to some extent.
Key findings of the report:
- The global electronic health records (EHRs) market is expected to reach USD 36.2 billion in 2025, at a CAGR of 5.6% during 2019-2025
- On the basis of delivery mode, the cloud based server segment held the major share of the global market in 2018. The segment growth is attributed to the benefits provided by cloud based servers, such as low maintenance and infrastructure requirements, low licensing and start-up cost, and wider accessibility. Moreover, allocation of resources for upgradation is also not required to maintain hardware and software.
- Based on the end-user,
- The Inpatient facilities segment held the major share of the global market in 2018
- The ambulatory surgery centers segment is likely to augment at the fastest CAGR of during 2019-2025
- Geographically, Asia-Pacific region is expected to register the highest CAGR over the forecast period
- Some of the key companies operating in the market include General Electric Company, Quality Systems Inc., Allscripts, McKesson Corporation, Epic Systems Corporation, Medical Information Technology Inc. (MEDITECH), eClinicalWorks, Cerner Corporation, and Healthland, among others
Electronic Health Records (EHRs) – Market Insight
New technology in healthcare has enabled patients and their caregivers to generate important data outside of clinical setting. Furthermore, the increasing number devices such as smartphones, remote monitoring devices and mobile applications have provided advanced ways to connect patients and providers. EHRs have revolutionized and improved the quality of healthcare. It comprises of a range of data including patient history, immunization dates, medication, allergies, diagnosis, radiology images, laboratory and tests results, insurance information, and treatment plans. Moreover, the use of electronic health records has a positive impact on the quality of care given to patients. It reduces the chances of data replication, and streamlines the clinician’s workflow. The EHR systems provide a valuable mechanism for assessing potential research trial populations, recruiting patients into trials, improving clinical trial efficiency, and cost-effectiveness. Additionally, growing government initiatives, increasing need for advance healthcare information and healthcare facilities are some of the factors further propelling the market growth.
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Global Electronic Health Records (EHRs) Market– Regional insight
North America held the major share of the global market owing to growing investments in healthcare IT, and increased focus on the implementation of health information technology. Moreover, increasing adoption of EHRs in the region is boosting the market growth. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to growing demand for integrated healthcare systems in developing countries, such as India and China. Moreover, increasing emphasis on evidence-based care, and increasing government initiatives to provide better healthcare facilities in the region is further propelling the market growth.
This report segments global electronic health records (EHRs) market based on delivery mode, component, application, end-user, and geography.
By Delivery Mode
- Cloud based server
- Client based server
By Component
- Patient management
- Population health management
- E-prescription
- Practice management
- Referral management
- Others
By Application
- Administrative Application
- Healthcare Financing
- Reporting in Healthcare System
- Clinical Research Application
By End-user
- Ambulatory surgery centers
- Inpatient facilities
- Physician offices
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Central & South America
- Middle East and Africa
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