Published: Nov, 2016
Key companies operating in the global electronic health records market finds this market highly competitive yet opportunistic owing to the presence of many new companies and the rising introduction of new electronic health record systems. While the global market is expected to experience contribution from many new companies, the leading organizations are likely to update their services to maintain their dominance. Transparency Market Research (TMR), in its new report, states that the global electronic health records market is dominated by many leading organizations. Some of the key companies operating in the global market are Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems, GE Healthcare, Medical Information Technology, Inc., NextGen Healthcare, Athenahealth, Inc., CPSI, eClinicalWorks, Greenway Health, LLC, McKesson Corporation, and 4medica.
The global electronic health records market is expected to exhibit a 6.40% CAGR during the period from 2015 to 2023. Information technology has benefited many markets and the global electronic health records market is not an exception. Currently, healthcare practices, the rising awareness about healthy living, the rising awareness about various diseases and treatments, and the modified healthcare infrastructure have benefited the global healthcare market.
“Currently, leading companies are assisting hospitals and medical institutes with their new electronic health record systems,” states a TMR analyst. By region, the global electronic health records market is expected to be dominated by North America throughout the forecast period. Rapidly growing the geriatric population, the rising awareness about healthcare, the increasing demand for enhanced patient care, and the rising need for remote patient monitoring services are predicted to propel the North America electronic health records market.
Web-based Electronic Health Records Segment to Dominate
By installation type, the global electronic health records market was led by the web-based system in the past. This segment is likely to dominate the global electronic health records market in the years to come owing to the nominal process of these systems. Based on the end user, the global market for electronic health records is expected to be dominated by the hospitals segment. The ambulatory centers segment is likely to display a significant growth in the global market throughout the forecast period.
Rising government funding to propel global market
Governments of many nations are aiming to rise their funding towards the development of new electronic health records systems, states a TMR analyst. This is likely to benefit the global market in many ways. Leading companies are likely to increase their focus on research and development activities to introduce new ways to keep patients’ healthcare records. Technology has assisted many leading companies to design and develop new software and electronic record keeping systems, which is also predicted to benefit the global market. The electronic health record systems assist medical physicians to adopt advanced information technology to modernize their routine operations, which is why the adoption of these systems is expected to increase.
High installation cost to hamper market’s growth
High initial cost of installation of electronic health records system is a key factor expected to hamper the growth of the global market. Lack of skilled professional to handle the electronic health records systems is another factor expected to restrict the growth of the global market.
Untapped market to display maximum opportunities
Although the global demand for electronic health records systems is rising at a significant pace, the developing nations still lack the awareness of these systems. This creates growth opportunities for the leading companies offering quality electronic health records systems.
This information is based on the findings of a report published by Transparency Market Research titled “Electronic Health Records Solution Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
The global electronic health records market is segmented as follows:
Global Electronic Health Records Market, by Installation
- Web Based
- Client Server Based
- Software as Services
Global Electronic Health Records Market, by End User
- Physician Office
- Ambulatory Centers
Global Electronic Health Records Market, by Geography
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World
- South Africa
- Saudi Arabia
- Rest of the World
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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