EHR-EMR Market Size Analysis By Component (Software, Hardware), Application (Specialty-Based and General Application), Mode Of Delivery (Cloud-Based), End User (Hospitals and Clinics and Ambulatory Care Centers), and Region — Forecast till 2027
The global EHR-EMR Market Size is a pervasively growing space, depending on the growth of the healthcare and life-science industry. EHR-EMR plays a crucial role in the database management of a healthcare organization. Monitoring the activity and condition of a patient becomes challenging, with the rising arrival rate of patients in a healthcare set-up every day. In such scenarios, the integration of EHR-EMR solutions offers huge benefits by managing the patient’s data electronically.
Market Research Future (MRFR) opines that the Global EHR-EMR market is estimated to create a valuation of USD 42,427.27 MN by 2027. MRFR, in its recent study report, also asserts that the market would register a CAGR of 5.82% over the assessment period (2017-2027). The burgeoning life science and healthcare industry are the major driving forces behind the growth of the market. Besides, government initiatives to promote proper maintenance of patient’s electronic health records boost the market growth, hugely.
By connecting the EHR-EMR system on the web, accessibility of the information becomes very easy for the institutions, offering the convenience of accessibility from anywhere around the globe. EHR-EMR systems, with its significant efficiencies, have replaced the traditional manual practices, completely. Healthcare and life science organizations are rapidly adopting these technologies. Rising adoption is a major factor accelerating the market on the global platform. The market has been witnessing continued demand during the last few years.
Global EHR-EMR Market – Competitive Landscape
Highly competitive, the global EHR-EMR market appears to be fragmented due to the presence of several players with similar offerings locally as well as internationally. Influenced by the established players, a large number of new entrants are getting attracted to the market. To gain a substantial share in the market, players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product/technology launch. High investments are transpired in the market in order to develop next-generation healthcare IT solutions.
Players leading the global EHR-EMR market, include MEDHOST, GE Healthcare, Computer Programs and Systems, Inc. (CPSI), Allscripts Healthcare Solutions, InterSystems Corporation, Cerner Corporation, Cantata Health LLC, Advanced Data Systems Corporation, Greenway Health, LLC, Athenahealth, Inc., eClinicalWorks, AdvancedMD, and Quality Systems, Inc., among others.
Global EHR-EMR Market – Segmentation
The market is segmented into five dynamics to widen the scope of understanding,
By Component: Software, Services & Consulting, and Hardware.
By Application: Specialty-based and General Applications, and others.
By Mode of Delivery: On-Premise Model and Cloud-based, and others.
By End-user: Hospital & Clinics, Ambulatory Care, Diagnostic Centers, and others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
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EHR-EMR Market – Regional Analysis
North America is estimated to continue leading the global EHR-EMR market throughout the forecast period. The significant market share of the region attributes to the presence of several notable players and technologically advanced healthcare infrastructure in the region. Besides, the increasing adoption of electronic health record (EHR)/electronic medical record (EMR) in the growing numbers of healthcare set-ups are fostering the growth of the market.
North America has the best medical facilities around the globe that witness a high rate of arrival of patients. Considered as technologically well-developed countries, such as the US and Canada hold the largest market share in the regional EHR-EMR market.
Europe stands second in the global EHR-EMR market, following the North American market closely. The substantial growth of the market is majorly driven by government initiatives to promote healthcare by introducing the various healthcare plans, and new equipment in the industry. The European EHR-EMR market is expected to create a substantial revenue pocket over the assessment period.
The Asia Pacific region holds the next largest share on the global EHR-EMR market. Most of the APAC countries are developing rapidly, which demonstrates immense growth opportunities for EHR-EMR players. Highly populated countries like China, India is the biggest market for EHR-EMR products by the end of the forecasted period. The fastest-growing, APAC EHR-EMR market is expected to grow at 6.77% CAGR over the review period.