Global Electronic Health Records Market Analysis

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  • Type: Service area
  • Published : January 2022
  • Region: Worldwide
  • Country: Other
  • Report ID : 5023

  • Format: PPT, PDF

Global Electronic Health Records Market: Segmented by Product, type, end-use, business models, region- Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the Global Electronic Health Records Market

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Global Electronic Health Records Market
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Global Electronic Health Records Market
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Global Electronic Health Records Market Executive Summary

An electronic health record is a computerized replica of a patient’s paper chart (EHR). It incorporates medical data collected for treatment and diagnosis by and for physicians in clinics, physician offices, and hospitals. EHR systems aid in expanding patient data accessibility, hence improving the overall productivity and efficiency of patient care. Electronic health records also allow for real-time communication between healthcare professionals such as labs and experts.

Market Size and Key Findings

The Global Electronic Health Records Market size stood at around USD 26.8 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 3.7% during the forecast period.

The global electronic health records market size was valued at USD 26.8 billion in 2020 and it is expected to witness a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028.

Market Dynamics

Market Growth Drivers Analysis

Government initiatives to encourage healthcare IT usage is the key driver of this market. For instance, My Health Record is a national digital health record platform in Australia. Every Australian citizen has a “My Health Record” unless they have chosen that they don’t want it. The agency claims that by the end of 2022, all healthcare providers in the country will be able to contribute to and use healthcare information available on the platform. Moreover, the introduction of technologically advanced healthcare services is also expected to drive market growth.

Market Restraints

In 2020, key market players reported a decline in revenue due to delays in software and services implementation. Moreover, client attrition and low patient volume during pandemics affected the EHR market significantly.

COVID-19 impact on “Global Electronic Health Records Market” 

The Covid-19 pandemic has put a lot of pressure on healthcare organizations since the beginning of 2020. The pandemic has adversely affected the revenues of major market players due to the decline in new business bookings as certain client purchasing decisions and projects are delayed to focus on treating patients, procuring necessary medical supplies, and managing their organizations through this crisis. Moreover, companies, such as Allscripts, experienced delays in deals with upfront software revenue and professional services implementations across their outpatient and inpatient base.

Competitive Landscape

Key Players

The market leaders are involved in new product launches, collaborations, expansions, and acquisitions to sustain the competition. Established organizations, as well as small players, are investing in mergers & acquisitions to gain a competitive edge. For instance, in April 2021, Cerner Corp. acquired Kantar Health, for approximately USD 375 million. This acquisition combined Cerner’s collection of real-world data & technology and Kantar’s life sciences expertise and accelerated innovation in life sciences research and improved worldwide patient outcomes. In March 2020, CureMD Healthcare launched a practice continuity plan for providers, to treat their patients remotely during the pandemic. This would strengthen the company’s market position while helping businesses tackle Covid-19 through virtual care plans.

Products in Pipeline

New expansion activities, product approvals, product launches, partnerships, and acquisitions have positively impacted the market in recent years. Furthermore, there has been a significant increase in the demand for electronic health records due to the growing digitalization, which, in turn, is fueling the market growth. Rising demand for centralization and streamlining of healthcare administration is also anticipated to drive market growth. Centralization of health information management is driven by a value-based model, which aims at streamlining operations, standardizing processes, reducing costs, and improving the quality of care that results in patient satisfaction.

Notable Recent Deals

  • The increasing number of mergers & acquisitions by market players is also boosting the market growth. For instance, in January 2021, Allscripts Healthcare Solutions announced a strategic partnership with the U.S Orthopedic Alliance (USOA). This partnership was aimed at introducing an efficient infrastructure designed to assist orthopedic practices scale with agility, improve electronic health records (EHR) implementation timelines, provide evidence-based guidelines to support evolving clinical protocols, and create community-wide connectivity with value-based care analytics.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

  • Easing lockdowns and greater adoption of EHR in ambulatory departments will boost the market growth. India, with its large population base and government regulations favouring digitization, is expected to register a growth of over 6.0% in the coming years.
  • Supportive government regulations focused on public health will help the established and emerging players to gain market share in the developing economies.
  • Biden administration is looking to support the U.S. Department of Veterans Affairs and Cerner project with higher funding, for continued VA EHR modernization

1. Report Description of the Global Electronic Health Records Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Global Electronic Health Records Market Executive Summary
2.1 Global Electronic Health Records Market – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Global Electronic Health Records Market
3.1 Market Growth Drivers Analysis
3.1.1 Government initiatives to encourage healthcare IT usage
3.1.2 Introduction to technologically advanced healthcare services
3.1.3 Rising demand for centralization and streamlining of healthcare administration
3.1.4 Increasing number of mergers & acquisitions by market players
3.2 Market Restraints Analysis
3.2.1 Reluctance to adopt ehrs among physicians and patients
3.2.2 High costs associated with ehr implementation
3.3 Covid-19 Market Impact Analysis
4. Electronic Health Records Market Segmentation
4.1 By Product Outlook:
4.1.1 Client Server-Based EHR
4.1.2 Web-Based EHR
4.2 By Type Outlook:
4.2.1 Acute
4.2.2 Ambulatory
4.2.3 Post-Acute
4.3 By End-Use Outlook:
4.3.1 Hospital Use
4.3.2 Ambulatory Use
• Physician’s Clinic
• Laboratories
• Pharmacy
4.4 By Business Models Outlook:
4.4.1 Licensed Software
4.4.2 Technology Resale
4.4.3 Subscriptions
4.4.4 Professional Services
4.4.5 Others
4.5 By Regional Outlook:
4.5.1 North America
4.5.2 Europe
4.5.3 Asia Pacific
4.5.4 Latin America
4.5.5 MEA
5. Electronic Health Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives in Electronic Health Market
6.4 Notable recent deals in Electronic Health Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Cerner Corporation overview
Product & Services, Strategies & Financials
7.2 GE Healthcare Company overview
Product & Services, Strategies & Financials
7.3 Allscripts Healthcare LLC, Company overview
Product & Services, Strategies & Financials
7.4 McKesson Corporation overview
Product & Services, Strategies & Financials
7.5 Epic Systems Corporation overview
Product & Services, Strategies & Financials
7.6 NextGen Healthcare, Inc. Company overview
Product & Services, Strategies & Financials
7.7 eClinicalWorks Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Electronic Health market
9.2 Future Opportunities
10. Strategic Recommendations

Global Electronic Health Records Market Segmentation

By Products:

  • Client Server-Based EHR
  • Web-Based HER

The web-based EHR segment led the market in 2020 and accounted for more than 54% share of the global revenue. This large market share is attributed to the popularity of web-based EHRs among the physicians and healthcare providers, which operate on a smaller scale as these systems can be installed without the requirement of in-house servers and can also offer extensive customizations & improvements, as per need.

The client server-based product segment is anticipated to show significant growth over the forecast period. Client-server-based EHRs provide a safer alternative for users as it offers in-house data storage, hence preventing data theft. These can also be customized as per customer requirements and also are a favorable option in the case of multi-physician facilities. Furthermore, they do not require a stable internet connection unlike the web-based systems, which further drives the segment growth.

By Type:

  • Acute
  • Ambulatory
  • Post-Acute

The acute type segment held the largest market share of over 47% in 2020. The growth can be attributed to the government initiatives for the adoption of EHRs in small-scale facilities. For instance, acute care hospitals in the U.S., which are covered under the Inpatient Prospective Payment System (IPPS) are eligible for the Medicare incentive payment system.

Ambulatory EHRs are meant for use in outpatient care facilities and small practices. Government support for the adoption of ambulatory EHRs, especially during the Covid-19 pandemic, is expected to boost the market growth. Easy usage as compared to the inpatient systems is expected to drive the segment growth. These EHRs deal with a single practice and its patient, instead of a complex web of hospital departments.

Post-acute EHRs are mainly used for providing rehabilitation services, which patients receive after a stay in an acute care hospital. Post-acute care facilities consist of inpatient rehabilitation centres & hospitals, home health agencies, and long-term care hospitals. Rising spending on post-acute care facilities is anticipated to boost the segment growth.

By End-Use:

The hospital segment held the largest market share of more than 61% in 2020 and will retain the dominance during the forecast period. The growth can be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation is less in hospitals as compared to ambulatory care centers, which also boosts the market growth.

By Business Model:

The professional services segment dominated the market with over 30.0% share in 2020. The rising demand for professional services in the form of project management, clinical process optimization, technical & application expertise, regulatory consulting, and training & education of the workforce of clients for assisting the design & implementation of systems will drive the segment.

This segment was amongst the most affected business models during the Covid-19 pandemic, due to decreased utilization of third-party resources associated with professional services. The licensed software segment is majorly involved in the development and licensing of intellectual property. The intellectual property consists of architectures, executable & referential knowledge, application software, and data & algorithms. This segment was also largely impacted by the pandemic.

By Regional:

North America accounted for the highest revenue share of over 45% in 2020. The region will remain dominant even during the forecast years due to the policies that support HER adoption and the availability of well-established infrastructure with high digital literacy. In May 2020, the federal government proposed the Federal Health IT Strategic Plan 2020-2025 that mandates the meaningful usage of EHR by healthcare providers.

Asia Pacific is anticipated to be the fastest-growing regional market during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards & services, which is boosting the digitalization of healthcare in the region.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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