Electronic medical records refer to a digital version of patient information. The electronic medical record includes organizing, presenting the storing clinical data or documents of patients over long periods interpreting health conditions, placing orders, and providing ongoing care, scheduling, billing, and prescription.
Sizing and Forecast
The electronic medical records market size has grown steadily in recent years. It will grow from $34.81 billion in 2023 to $36.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to growth in healthcare information technology, increased government initiatives, increased demand for digital transformation in healthcare and covid-19 outbreak.
The electronic medical records market size is expected to see strong growth in the next few years. It will grow to $46.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growth in healthcare information technology, increased government initiatives, increased demand for digital transformation in healthcare and covid-19 outbreak. Major trends in the forecast period include focus on use of artificial intelligence, focus on adoption of natural language processing technology, focus on voice assistance technology, focus on adoption of cloud-based ehrs (electronic health records), focus on strategic partnerships and focus on increasing investments and mergers and acquisitions.
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Segmentation & Regional Insights
The electronic medical records market covered in this report is segmented –
1) By Type: Acute, Ambulatory, Post-Acute
2) By Product: Client-Server-Based EHR, Web-Based EHR
3) By Mode of Delivery: Cloud-Based Model, On-Premise Model
4) By Business Models: Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Other Business Models
5) By Application: E-Prescription, Practice Management, Referral Management, Patient Management, Population Health Management, Other Applications
North America was the largest region in the electronic medical records market in 2023. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic medical records market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growth in healthcare information technology is significantly driving the growth of the electronic medical records market in healthcare. Electronic medical records are one of the significant applications that can be created, managed, and accessed by authorized staff within one healthcare organization for providing prompt healthcare services electronically. The rapid growth of electronic medical records adoption needs more development and simpler applications that can be achieved through the advanced IT sector in the healthcare sector. According to a research survey published by the BMC Health Services Research, an open-access healthcare journal, the electronic health records adoption rate stood at 52.8% which indicates good readiness among healthcare professionals for electronic medical records. Hence, growth in healthcare information technology is expected to propel the growth of electronic medical records in the healthcare market.
Key Industry Players
Major companies operating in the electronic medical records market report are Cerner Corporation, Allscripts Healthcare Solutions Inc, General Electric Company, Athenahealth, NextGen Healthcare Inc, Epic Systems Corp, eClinicalWorks, CPSI, Intersystems Corporation, AdvancedMD Inc, Innovaccer, Pharm Easy, 1mg, Practo, Mfine, Medi Buddy, Indegene, Ping A Good Doctor, JD Health, CISCO Systems Inc, GE Healthcare, Honeywell Lifesciences, Philips Healthcare, Better Doc, Biovotion, BrainControl, Coimbra Genomics, Dacadoo, Doctoralia, Emperra, Exovite, Genexyx, Giraff, Healthbank, NeurNation, Nutrino, Psious, Px Healthcare, SilverCloud, Systems Healthcare Solutions, TrialReach, XtremeVRI, TietoEVRY, DOC+, McKesson Corporation, Medical Information Technology Inc, Health Information Management Systems, CureMD Healthcare, Greenway HealthLLC, WELL Health Technologies Corp, Indivica Inc, OSCARwest, MV Sistemas, Philips-Tasy, Siemens, R.R. Information Systems and Technologies Ltd, Mubadala Health, G42 Healthcare, Etisalat, Vezeeta, OKADOC, Doxy.me, Safermom, Mobicure, Ubenwa, Medsaf, GenRx, MDaaS Global, Kangpe, Hudibia, Lifebank, Redbank, AMD Global Telemedicine Inc, Medtronic PLC
The electronic medical records market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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