The global electronic health records market is estimated to witness increased demand from all across the world. Electronic health records (EHR) systems have gained a steady spade of investments from enterprises engaged in the healthcare sector. The systems are gaining popularity owing to number of benefits they offer. For instance, incorporating EHR systems, hospitals achieve to offer better health care by advancing all aspects of patient care. It includes increased patient safety, efficiency, communication, patient-centeredness, education, and timeliness. A large part of drive for the global electronic health records market is steamed from increased need for accuracy and clarity in medical records.
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Increase in worldwide Health Issues Stimulates Market Growth
In recent years, the world is experiencing increased cases of chronic diseases. Besides, the number of older population is consistently increasing. Organizations engaged in the healthcare sector are showing more interest in integrating advanced information technologies to offer better healthcare services. All these factors are bolstering the prospects for the development of the global electronic health records market.
Government Initiatives for Paperless Record Maintenance Fosters Market Demand
In recent years, the governments of numerous countries have started promoting for paperless records. Provision of diverse financial incentives is one of such government move encouraging hospitals to adopt electronic health records. In addition, the recent trend of cloud-based software for electronic health records will stimulate the demand for the products from the global electronic health records market.
Increased Efforts to Provide Advanced Services Propels Market Growth
The competitive landscape of the global electronic health records market is highly intense. Key reason behind this fact is a significant number of players working in this market. Several vendors are focused on increasing efforts to offer superior quality products and services. To support this aim, they are growing investments in research and development activities.
Many enterprises engaged in the global electronic health records market are entering into various partnerships and collaboration activities. These moves are helping them to expand their regional presence. All these factors signify the potential growth avenues for the global electronic health records market.
The list of key players working in the global electronic health records market includes Athenahealth, Inc., Allscripts Healthcare Solutions, Inc., CPSI, Cerner Corporation, eClinicalWorks, Epic Systems, Greenway Health, LLC, GE Healthcare, McKesson Corporation, Medical Information Technology, Inc., 4medica, and NextGen Healthcare.
North America Leads Market Competition
The global electronic health records market is spread across five key regions, namely, North America, Asia Pacific, Latin America, Europe, and rest of the world. Of them, North America represents itself as one of the prominent regions on the back of increased acceptance of advanced technology in regional healthcare sector. Remarkable support by government bodies to advance the health record systems of hospitals in the region is fueling the electronic health records market growth. In addition, the presence of several key vendors will drive the market growth in the region.
Asia Pacific is projected to gather handsome amount in revenues from the electronic health records market during upcoming years. One of the key reasons supporting this projection is increased inclination of hospitals from this region to incorporate advanced technology in their work processes. Besides, growing population is one of the key reasons supporting electronic health records market growth.
The analysis presented here is based on a report by Transparency Market Research (TMR) titled “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 2017-2025.”
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