US EHR-EMR Market Strategic Insights and key Business Influencing Factors
The growth of healthcare IT and its immense potential in
consolidating data as well its ability to drastically increase efficiency has
impacted the global & US EHR-EMR market to a great extent. Market Research
Future has released its report on the global US EHR-EMR market which includes
various intelligent insights as well a collection of highly relevant facts and
figures with regards to the future of the market for the review period from
2018 to 2027. According to findings of the analysis carried out by MRFR, the
global & US
EHR-EMR market is expected to register a CAGR of 5.82% during the review
period which is likely to result in a market value of USD 42,427.27 Mn by the
end of 2027.
EHRs & EMRs help avoid medical errors which are often
encountered during the diagnosis and treatment process due to the lack of
awareness on the part of medical professionals regarding medical history and
therapeutic guidelines specific to the patient. Moreover, reportedly, clinical
decisions made using the assistance of EHRs have increased the efficiency of
care. These clinical benefits are significant in their positive impact on the
global & US EHR-EMR market. Increasing government support of EHRs have also
been a strong driving factor for the adoption of EHRs & EMRs as well as the
subsequent growth of the global market. Prime examples include the NHS which
has implemented the Integrated Digital Care Fund to support the shift from paper-based
health records to integrated digital care records. These types of supportive,
and encouraging government initiatives are expected to compel market growth
over the review period.
Key Players
Market Research Future has tracked the competition in the
global & US EHR-EMR market and analyzed the various growth strategies used
by leading market players. Market players of prominence included in the report
are Allscripts Healthcare Solutions, Athenahealth Inc., Agastha Inc, Cerner
Corporation, Epic Systems, eClinicalWorks, Advanced MD Inc, Advanced Data
Systems Corporation, GE Healthcare, Medical Information Technology Inc.,
Koninklijke Philips N.V., and Meddbase (Medical Management Systems Ltd).
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Market Segmentation
Components of EHR & EMR have been segmented into
software, services & consulting, and hardware. The software segment has
captured a 59.1% share of the market and is also projected to expand at the
highest growth rate during the assessment period.
Applications of EHR & EMR are largely divided between
the specialty based segment and general based segment. The specialty based
segment is further sub-segmented to include neurology, oncology, radiology,
cardiology, and others. The specialty based segment has not only captured the
largest share of the global & US EHR-EMR market but is also anticipated to
expand at the fastest pace at a CAGR of 6.02% during the review period. The
rapid growth of the specialty-based segment is due to the increasing incidences
of cardiovascular diseases as well as a high prevalence of chronic diseases.
Mode of delivery of EHR and EMR has been segmented into
cloud-based, and on-premise model. The on-premise segment is the most
significant segment in the global market. However, the rapid growth of the
cloud-based segment is expected to bring both segments nearly at par by the end
of 2027.
End-users of EHRs and EMRs have been segmented into
ambulatory care, diagnostic centers, hospitals & clinics, and others.
Hospitals & clinics are the dominant segments in the global & US
EHR-EMR market due to the increasing adoption of healthcare IT in this segment.
However, the ambulatory segment is growing at the most rapid pace due to the
demand for instant data retrieval in emergency healthcare situations.
Regional Analysis
MRFR's coverage of the global market scenario covers key
regions such as the Americas, Europe, Asia Pacific, and the Middle East &
Africa. The Americas have the dominant share of the global & US EHR-EMR
market. The North American segment of the market which includes the US has a
strong presence of several market leaders as well as a thriving healthcare
sector. The well-developed healthcare sector in the region has an affinity
toward the adoption of advanced IT technology. Growing investments in
healthcare and increasing demand for advanced healthcare. IT is likely to lead
the market to grow over the review period.
Meanwhile, the Asia Pacific market is on track to grow at
the most significant CAGR of 6.77%. Japan is the largest country-level market.
Other important country level markets include India, China, and Austrailia. The
rapid digitization of the regions healthcare segment, combined with the
healthcare reforms taking place are expected to drive the APAC's growth over
the review period. Increasing awareness regarding electronic health records, a
rising geriatric population as well as the presence of a significant and
growing patient pool is expected to influence the EHR-EMR market positively.
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Contact:
Akash Anand
Market Research Future
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