The global hospital EMR systems market is projected to reach USD 23.3 billion by 2027 from USD 14.2 billion in 2020, at a CAGR of 7.3 % during the forecast period.Electronic medical record systems are defined as healthcare information tools that captures and records patient data gathered from various authorized clinicians’ office under one healthcare organization. These systems enhances workflow efficacy and improves the quality of patient care. Also it provides access to physicians regarding patient information such as lab result, diagnosis and medication. The EMR system is gaining high traction among healthcare service providers, mainly due to its operational efficiencies and the rising need for integrated healthcare facilities worldwide. Over the years, there has been a surge in the need to connect laboratories to hospitals and clinics, and hospitals or clinics to pharmaceutical centers. This has led to the rise in emphasis on product innovation. Thus, increasing number of players is entering the EMR market with varied service offerings. Rise in number of diseases and increasing demand for quality care by the patients is paving the way for the overall growth of the electronic medical record technology globally. Advent of integrated healthcare services delivery platform with the help of EMR technology has led to the wide popularity of EMR software among hospitals and clinics. Rise in the number of hospitals and clinics are also expected to boost the overall demand for electronic medical record technology globally.
Currently, electronic medical record technology is widely used in North America due to the various supporting initiatives taken by the government in the region through The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region. Also, there is an incentive plan for the hospitals and clinics in the U.S. for facilitating the ‘meaningful use’ of EMR technology.
The EMR market size is expected to expand at a significant CAGR in the regions such as Western Europe and Asia Pacific over the forecast period. Also, the EMR industry is consolidating, as the players in the electronic medical record industry are getting into partnerships, mergers and acquisitions, well-planned distribution strategies to capitalize over the opportunities present in the untapped markets in Latin America and Eastern Europe. Though this market is growing at a significant rate, the high cost of EMR software and implementation services, coupled with the negative perception about the electronic medical record technology, is proving to be a major hindrance in the overall growth of the market.
Cerner Corporation (US), Epic Systems Corporation (US), Allscripts Healthcare Solutions, Inc. (US), MEDITECH (US), CPSI (US), GE Healthcare (US), athenahealth, Inc. (US), MEDHOST (US), eClinicalWorks (US), NextGen Healthcare (US), Intersystems Corporation (US), MTBC (US), Cantata Health (US), Advanced Data Systems Corporation (US), and CureMD (US) are the leading players in the global hospital EMR systems market.
Globally, North America is expected to hold market dominance throughout the forecast period and is projected to expand at a CAGR over the forecast period. The U.S is expected to dominate the North America electronic medical records market throughout the forecast period in view of the supporting government policies imposed in accordance with the American Reinvestment & Recovery Act (ARRA). The North America EMR market share is followed by the Western Europe market as more number of players are expected to enter into the North America market over the forecasted period. Asia Pacific is expected to be the next lucrative market for EMR companies, as the market in this region is projected to witness an above average CAGR in terms of value during the forecast period.
Currently, electronic medical record technology is widely used in North America due to the various supporting initiatives taken by the government in the region through The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region. Also, there is an incentive plan for the hospitals and clinics in the U.S. for facilitating the ‘meaningful use’ of EMR technology.
The EMR market size is expected to expand at a significant CAGR in the regions such as Western Europe and Asia Pacific over the forecast period. Also, the EMR industry is consolidating, as the players in the electronic medical record industry are getting into partnerships, mergers and acquisitions, well-planned distribution strategies to capitalize over the opportunities present in the untapped markets in Latin America and Eastern Europe. Though this market is growing at a significant rate, the high cost of EMR software and implementation services, coupled with the negative perception about the electronic medical record technology, is proving to be a major hindrance in the overall growth of the market.
Cerner Corporation (US), Epic Systems Corporation (US), Allscripts Healthcare Solutions, Inc. (US), MEDITECH (US), CPSI (US), GE Healthcare (US), athenahealth, Inc. (US), MEDHOST (US), eClinicalWorks (US), NextGen Healthcare (US), Intersystems Corporation (US), MTBC (US), Cantata Health (US), Advanced Data Systems Corporation (US), and CureMD (US) are the leading players in the global hospital EMR systems market.
Globally, North America is expected to hold market dominance throughout the forecast period and is projected to expand at a CAGR over the forecast period. The U.S is expected to dominate the North America electronic medical records market throughout the forecast period in view of the supporting government policies imposed in accordance with the American Reinvestment & Recovery Act (ARRA). The North America EMR market share is followed by the Western Europe market as more number of players are expected to enter into the North America market over the forecasted period. Asia Pacific is expected to be the next lucrative market for EMR companies, as the market in this region is projected to witness an above average CAGR in terms of value during the forecast period.
- Aerospace and Defense
- Agriculture
- Automotive and Transportation
- Business and Finance
- Chemical and Materials
- Consumer Goods and Retails
- Electronics and Semiconductor
- Energy and Power
- Food and Beverages
- Machinery and Equipment
- Manufacturing and Construction
- Medical Devices
- Pharmaceuticals and Healthcare
- Service and Software
- Technology, Media and Telecommunications
- Travel and Tourism
