A research study titled, “Electronic
Health Records Market by Type, Installation, and End User - Global Industry
Analysis and Forecast to 2025” published by Crystal Market Research, states
that electronic health records market is projected to be around $33 billion by
2025.
The U.S.
Centers for Medicare & Medicaid Services has defined Electronic Health
Record (EHR) as an electronic version of a patient’s medical history. It is an
electronic record of a patient’s health information generated through one or more
encounters in any care provider’s setting. These records include information
such as patient demographics, problems, progress notes, vital signs,
medications, past medical history, laboratory data, immunizations and radiology
reports. An EHR system streamlines and automates clinician's workflow. The EHR
system can also directly or indirectly support care related activities through
different interfaces including quality management, evidence based decision
support and outcome reporting. EHRs assist healthcare providers in providing
better care and taking better informed decisions. One of the key features of
EHR is that the health related information can be managed in a digital format
and can be shared with other healthcare providers across multiple healthcare
organizations such as laboratories, medical imaging facilities, pharmacies, and
emergency healthcare facilities. The key benefits of EHR systems are improved
patient care, increased patient participation, enhanced care coordination,
improved diagnostic and patient outcomes, and increased practice efficiency.
According to a survey conducted by the U.S. Department of Health and Human
Services, in 2014, 79% healthcare providers reported increase in practice
efficiency by using an EHR system whereas 70% healthcare providers reported
improvement in data confidentiality. Providers can have quick access to
patients’ records from remote locations which can save valuable time while
dealing with emergency cases.
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The key
driving factors for the EHRs market are technological advancements in
healthcare IT, rising need to streamline different healthcare systems, and
favorable government initiatives for adoption and implementation of EHR
systems. With EHRs, healthcare providers can give their patients complete and
accurate information regarding their medical evaluations. They can manage and
schedule patient appointments electronically and exchange e-mails with their
patients. Moreover, quick communication between providers and patients can aid
in early identification of symptoms. However, the possible data privacy and
security issues associated with EHR systems can hamper the market growth.
Web-based
EHR segment held a major share of the EHR market in 2016 owing to the
associated benefits of low-cost installation and maintenance, favorable for
small-scale hospitals, clinics, laboratories and pharmacies. These systems
eliminate the need for installing on-premise services in order to use the EHR
systems. The segment is expected to dominate the market throughout the forecast
period while growing at the fastest rate between 2016 and 2025.
Acute EHR
segment held the majority share of EHR market in 2016 owing to the critical
need of gathering health related information of patients suffering from severe
acute health conditions in order to provide timely and relevant treatment. Post-acute
EHR segment is expected to exhibit fastest growth over the forecast period as
EHR systems aid the healthcare providers to efficiently record and manage
health related information in case of patients requiring long-term care and
observation.
Hospitals
segment dominated the EHR market in terms of end users owing to the increasing
adoption of EHR systems by hospitals to integrate and manage health information
of their patients, thus favorably facilitating streamlining of the clinical
workflow. Ambulatory care settings segment is projected to witness fastest
growth throughout the forecast period as EHR systems facilitate the recording
and management of information related to applicable reimbursements for patients
undergoing ambulatory surgical procedures and treatments.
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U.S.
dominated the North American EHR market in 2016 owing to the presence of
favorable legislations related to the promotion of IT in healthcare such as the
Health Information Technology for Economic and Clinical Health (HITECH) Act of
2009 and other favorable initiatives leading to large scale adoption of EHR
systems by healthcare institutions in the country. Emerging economies such as China
and India are expected to show significant increase in the adoption of EHR
systems as a result of rising healthcare expenditure in these countries
facilitated by favorable economic growth.
Technological
advancements in EHR systems will further enhance the utility of these systems
for applications in healthcare industry. Connecting these systems with mobile
devices such as smartphones and tablets through mobile apps has contributed to
the key benefits of information availability derived by EHRs. Increasing data
security and confidentiality features of EHRs will contribute to the acceptance
rate of these systems over the coming years.
The major
players in the global EHRs market are focusing on research and development to
come up with more advanced next generation systems. For instance, in July 2014,
NextGen Healthcare and Mirth LLC, a global provider of health information
technology, launched NextGen Share, a health information service provider
(HISP). This platform enables clients to connect to external providers through
EHR products.
Some of
the key players operating in the global HER market are, CompuGroup Medical, Merge
Healthcare Incorporated (an IBM company), Greenway Health, LLC, athenahealth,
Inc., NextGen Healthcare Information Systems, LLC (a part of Quality Systems,
Inc.), General Electric Company, eClinicalWorks, LLC, Epic Systems Corporation,
Cerner Corporation, Allscripts Healthcare Solutions, Inc. and McKesson
Corporation.
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Key Findings of the Research
Study:
·
Web-based
EHR segment dominated the global EHR market in 2016 owing to the large scale
adoption of these EHR systems supported by low-cost installations favorable for
small scale healthcare institutions.
·
Acute
EHR segment accounted for nearly half of the overall EHR market in 2016 whereas
post-acute EHR segment is projected to showcase fastest growth during the
forecast period.
·
Hospitals
segment accounted for a major share of the EHR market with respect to end users
in 2016 due to the large scale acceptance of EHR systems in hospital settings for effectively recording health related data of
the patients.
·
North
America dominated the global EHR market in 2016 due to the presence of advanced
healthcare IT infrastructure in the region along with increasing adoption of
EHR systems by healthcare providers.
·
Asia-Pacific
EHR is expected to witness fastest growth throughout the forecast period while
growing with a high single-digit CAGR. This significant growth can be
attributed to the increasing demand for improved healthcare infrastructure by
the population in the region.
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Electronic Health
Records Market Segmentation:
By Type
- Acute EHR
- Ambulatory EHR
- Post-acute EHR
By Installation:
- Client Server-based HER
- Web-based HER
By End User:
- Hospitals
- Ambulatory Care Settings
By Region:
- North America
o U.S
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o Japan
o China
o Australia
o India
o South Korea
o Rest of Asia-Pacific
- Rest of the World
o Brazil
o South Africa
o Saudi Arabia
o Turkey
o United Arab Emirates
o Others
About Crystal Market Research
Crystal
Market Research is a U.S. based market research and business intelligence
company. Crystal offers one stop solution for market research, business
intelligence, and consulting services to help clients make more informed
decisions. It provides both syndicated as well as customized research studies
for its customers spread across the globe. The company offers market
intelligence reports across a broad range of industries including healthcare,
chemicals & materials, technology, automotive, and energy.
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Website: http://www.crystalmarketresearch.com
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