Electronic Health Records Market
Electronic Health Records Market (Installation Type - Web-based, Client Server-based, and Software as Services; End Users - Hospitals, Physicians Office, Ambulatory Surgery Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on the global electronic health records market for the historical period 2017–2018 and forecast period 2019–2027, technological advancements, diseases prevalence and incidence rate at regional level, and reimbursement scenario of the market at regional level are projected to drive the global electronic health records market during the forecast period.
- According to the report, the global electronic health records market was valued at US$ 26,126.3 Mn in 2018 and is anticipated to expand at a CAGR of 4.8% from 2019 to 2027.
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High Prevalence and Increase in Incidences of Diseases amongst patients: Key Drivers
- Diabetes: Diabetes has been one of the most common chronic conditions affecting millions of people across the world. Changing lifestyles and lack of proper dietary habits have been the major reasons for increasing prevalence of diabetes, especially in the emerging countries.
- According to research, half billion (500 million) people across globe are suffering from diabetes condition in year 2019, and the number is likely to reach by 578 million people by year 2030.
- The global prevalence of diabetes in year 2019 is estimated to be 9.3% and expected to reach by 10.2% by the year 2030.
- Prevalence of diabetes in countries in the West has been on the lower side compared to countries in Asia Pacific, which has witnessed significant rise in patients suffering from diabetes in the last decade. The incidence of chronic diseases across the globe is rising rapidly. Stroke, heart diseases, cancer, diabetes, and obesity are the most common chronic diseases affecting millions of people. A study conducted by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) indicated that 60% to 70% people with diabetes have some form of neuropathy, and the highest rates of neuropathy are among people who have had diabetes for at least 25 years.
- Coronary Heart Disease: Coronary heart disease (CAD), is one of the most deadliest and prevalent disease in the world. This is also known as ischemic heart disease contributing towards 15.5% of deaths worldwide. Also, one person estimates to be dead in every 37 seconds in the United States. Higher prevalence of the heart diseases estimated to be driving the market to electronic health records in coming years.
- Stroke: Stroke is considered to be leading cause of long term disabilities across globe. As per The Centers for Disease Control and Prevention (CDC), 93% of the patient experience sudden numbness due to stroke.
- Infectious diseases: Increase in infectious disease across globe especially in developing and under developing countries. As per CDC, 15.5 million patient visits at physician office with primary diagnosis as infectious and parasitic diseases. As per WHO, overall prevalence of infectious diseases syndrome was 71.80 per 10,000 population across globe.
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Technological Advancements to drive Electronic health Records Market
- Technological advancements in healthcare offers promising future for enhancing healthcare delivery through electronic health records. Natural language processing software is a speech recognition software enable enhancing interaction with Electronic health records. This technology enables the physician to save their valuable time and available for the patients at given precise time.
- For instance, in year 2018, Allina Health, non-for-profit organization introduced Nuance Communications Dragon Medical One, medical speech recognition solution in its organization. Allina Health witnesses an improvement in clinician’s optimum workflow and in electronic health records experience.
- Predictive analytics methods uses modelling, statistics, and data mining in coordination with artificial intelligence (AI), for better clinical outcomes based on electronic health records for improving care delivery and improving better patient experience.
- Technological advancement leading to expansion of the patient access to their medical data. Patient portal is a primary way for collecting, storage, and sharing health information amongst clinics and patients.
Global Electronic Health Records Market: Competitive Landscape
- This report profiles major players in the global electronic health records market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
- The global electronic health records market is highly consolidated, with the presence of a number of international as well as regional players
- Leading players operating in the global electronic health records market are
- Allscripts Healthcare, LLC and/or its affiliates
- Cerner Corporation
- DXC Technology Company
- CureMD Healthcare
- GE Healthcare
- Greenway Health, LLC
- Healthcare Information Management Systems
- McKesson Corporation
- Athena Health Inc..
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Global Electronic Health Records Market: Key Developments
Key players in the global electronic health records market are engaged in offering investments in technological advancements, companies offering electronic health records product portfolio, increase in investments for developing and strengthening product portfolio, adoption of digitization platform, regulatory approvals, technologically advanced products, supportive reimbursement policy, and expansion across geographies with other companies. These strategies are likely to fuel the growth of the global electronic health records market. A few expansion strategies adopted by players operating in the global electronic health records market are:
- In April 2019, collaboration amongst Google, the University of California, San Francisco, the University of Chicago, and Stanford Medicine for utilizing the artificial intelligence for further analyzing electronic health records for thereby generating accurate predictions about patient outcomes.
- Company such as AWS, initiated announced launching of Amazon Transcribe Medical, speech recognition software which interprets the clinicians and patient speech into texts.
The report on the global electronic health records market discusses individual strategies, followed by company profiles of providers of Electronic Health Records. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global electronic health records market.
TMR’s report on the global electronic health records market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2018 to 2027. The report provides revenue of the global electronic health records market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Electronic Health Records Market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the Global Electronic Health Records Market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the Global Electronic Health Records Market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the Global Electronic Health Records Market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the Global Electronic Health Records Market.
The report delves into the competitive landscape of the Global Electronic Health Records Market. Key players operating in the Global Electronic Health Records Market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Global Electronic Health Records Market that have been profiled in this report.
Key Questions Answered in Global Electronic Health Records Market Report
- What is the scope of growth for companies in the Global Electronic Health Records Market?
- What will be the Y-o-Y growth of the Global Electronic Health Records Market between 2018 and 2027?
- What is the influence of changing trends in technologies on the Global Electronic Health Records Market?
- Which regional market is set to expand at a high CAGR during the forecast period?
- Which factors are anticipated to hamper the growth of the Global Electronic Health Records Market during the forecast period?
- Which are the leading key players in the Global Electronic Health Records Market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global electronic health records market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary research sources referred to by analysts during the production of the global electronic health records market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the electronic health records market as primary methods.
These primary research respondents have provided exclusive information during interviews, which serves as a validation from the electronic health records market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global electronic health records market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global electronic health records more reliably and accurately.
Regional Segmentation of Electronic Health Records Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Electronic Health Records Market – Segmentation
Client Server Based
Ambulatory Surgical Centers (ASCs)
Middle East & Africa