Emphasis on Product (Web-Based, On-Premises-Based); Type (Acute, Ambulatory, Post-Acute); Applications (Clinical, Administrative, Reporting in Healthcare Systems, Healthcare Financing, and Clinical Research); End-Users (Hospitals, Ambulatory Care, Pharmacies, Others) and Region & Country.
In the modern era, Electronic Health Records (EHRs) have become an important component of medical practices. The conversion of the paper-based system to the digital system not just enhances the work quality but also the experience of patients. For the effective capturing and sharing of patient data, health care practitioners require an electronic health record (EHR) for the storage of data in a structured format. Structured data aids the health care practitioners in the easy transfer and retrieval of patient information. Centers for Medicare & Medicaid Services and Office of the National Coordinator for Health Information Technology (ONC) have confirmed the standard criteria for structured data for the promotion of Interoperability Programs in healthcare. The demand for Electronic Health Records is increasing on account of the rise in the use of healthcare information technology (HCIT), the high adoption rate of EHR, the rise in the number of chronic diseases, and the government initiatives to promote the use of IT in healthcare sector. Furthermore, the rise in healthcare expenditure and the introduction of artificial intelligence (AI) in the healthcare industry propel market growth. For instance, PathAI has worked with drug developers like Bristol-Myers Squibb and organizations like the Bill & Melinda Gates Foundation to expand its AI technology in other healthcare sub-sectors.
Value Chain of Global Electronic Health Record Market
Insights Presented in the Report
“Amongst Products, Web-based segment holds the major share in 2020.”
Based on Products, the global electronic health record market is segmented into Web-based and on premise-based. The web-based segment holds the largest share, owing to high acceptance of web-based EHRs between healthcare providers and physicians. Moreover, EHR can be established without the need for in-house servers. SimplePractice is a web-based mental health solution that helps healthcare practitioners to manage client relationships through scheduling, payment processing, and documentation.
“Amongst Types, Ambulatory is anticipated to grow at the highest CAGR during the analyzed period.”
Based on Types, the global electronic health record market is fragmented into Acute, Ambulatory, and Post-acute. The ambulatory EHRs are expected to show significant growth in the forecast period. The ambulatory EHR is mainly used in medical practices and outpatient settings. Ambulatory EHRs help the healthcare practitioners to easy tracking of the patient’s medical history as well as treatment. With outpatient treatment being the desired option for many patients, ambulatory EHR use has been on the rise significantly over the past few years.
“Electronic health record is majorly used for clinical application.”
Based on Applications, the global electronic health record market is divided into Clinical, Administrative, Reporting in Healthcare Systems, Healthcare Financing, and Clinical Research. The clinical application segment is expected to dominate the market in the forecast period owing to the rise in the number of chronic diseases and surgeries. As per Burden of Obstructive Lung Disease (BOLD), the global prevalence of Chronic Obstructive Pulmonary Disease (COPD) is 10.1%.
“Amongst End-Users, Hospitals leads the adoption of Electronic health record technology.”
Based on End-user, the global electronic health record market is bifurcated into hospitals, Ambulatory care, Pharmacies, and others. In 2020, Hospital has the largest market for electronic health record technology, owing to the rise in adoption of EHR in hospitals for the maintenance of large clinical data. The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 assisted in the adoption and use of electronic health records (EHRs). As of 2017, 94% of hospitals used their EHR data to perform hospital processes that inform clinical practice.
“North America holds the largest market share in the global electronic health record market in 2020.”
For a better understanding of the market adoption of the Electronic Health Record, the market is analyzed in major regions including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America dominates the Electronic Health Record market on account of the highly developed healthcare infrastructure, healthcare spending, and presence of numerous prominent players in the US.
Competitive Scenario
Some of the major players operating in the market include GE Healthcare, Allscripts Healthcare Solutions, Cerner Corporation, Advanced Data Systems Corporation, Athenahealth, Inc., Advanced MD, eClinicalWorks, Epic Systems Corporation, McKesson Corporation, and CPSI. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Reasons to buy this report:
Customization Options:
Electronic Health Record Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Top Start-ups Under Electronic Health Record Sector
6. 6 Global Electronic Health Record Market Revenue (usd Bn), 2019-2027
7. Market Insights By Product
8. Market Insights By Type
9. Market Insights By Application
10. Market Insights By End-user
11. Market Insights By Region
12. Demand And Supply Side Analysis
13. Value Chain Analysis
14. Global Electronic Health Record Market Trends
15. Global Electronic Health Record Market Dynamics
16. Global Electronic Health Record Market Opportunities
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Electronic Health Record were the three major steps undertaken to create and analyze the adoption of the technology across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the Electronic Health Record Market sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Global Electronic Health Record Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Product, Type, Applications, and End-user. Further country-level analyses were conducted to evaluate the overall adoption of the Electronic Health Record Market in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Electronic Health Record. Further, we conducted factor analysis using dependent and independent variables such as increasing penetration of the Internet of Things (IoT) in the healthcare sector, increasing focus on patient compliance, quality of healthcare, rising awareness of costs, rising healthcare programs, and the rise in the number of chronic diseases.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Electronic Health Record Market, and market shares of these players. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Electronic Health Record Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product, Type, Applications, and End-user of the Electronic Health Record Market.
Main Objective of the Electronic Health Record Market Study
The current & future market trends of the Electronic Health Record Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
