Global Electronic Health Records Market Report 2022 to 2030

Global Electronic Health Records Market Analysis

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Global Electronic Health Record market size was valued at $2.27 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4% from 2022 to 2030 and will reach $38.71 Bn in 2030. Global EHR market growth can be attributed to the surging need for remote monitoring and chronic disease management. The market is segmented by product type, application type, and end user. The key market players are Cerner Healthcare, GE Healthcare, Allscripts Healthcare, and others.

ID: IN10GLDH008 CATEGORY: Digital Health GEOGRAPHY: Global AUTHOR: Chandani Patel

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Global Electronic Health Record Market Executive Summary

Global Electronic Health Record market size was valued at $2.27 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 4% from 2022-30 and will reach $38.71 Bn in 2030. In 2021, health expenditure in Global equalled about 6.7 % of the GDP, down from 7.1 % in the previous year.

EHRs are digital archives of a patient's medical history that are kept for medical use and are always available to qualify medical staff. EMRs are electronic medical records that can be made, gathered, managed, and consulted by authorized doctors and personnel inside a single healthcare organization, according to the U.S. Department of Health and Human Services. These records allow for more precise treatment in urgent situations like a stroke or allergic reaction.

global electronic health record market analysis

Market Dynamics

Market Growth Drivers

In recent years, the EHR market has benefited from new expansion activities, product approvals, product launches, collaborations, and acquisitions. Additionally, the market expansion is being fueled by a considerable rise in demand for electronic health records as a result of expanding digitalization. The market for electronic health records is also predicted to be driven by rising consumer demand for the centralization and simplification of healthcare administration. A value-based strategy, which aims to streamline operations, standardize processes, cut costs, and improve the quality of care so that patients are satisfied, is what motivates the centralization of health information management.

The market is also growing as a result of a rising number of mergers and acquisitions by market participants. For instance, the U.S. Orthopedic Alliance and Allscripts Healthcare Solutions formed a strategic alliance in January 2021. With the help of this partnership, orthopedic practices will be able to scale more quickly, electronic health records will be implemented more quickly, evidence-based guidelines will be provided to support changing clinical protocols, and value-based care analytics will be used to connect the entire community.

Market Restraints

Besides, Data breaches and a lack of appropriately qualified personnel are the causes that are restraining factors in the market. The high cost of EHR adoption and maintenance, a scarcity of experienced specialists in developing nations, and worries about security and privacy are the market's challenges.

Competitive Landscape

Key Players

Cerner Corporation (Oracle)
GE Healthcare
Allscripts Healthcare
McKesson Corporation
Epic Systems Corporation
NextGen Healthcare, Inc.
eClinicalWorks
Medical Information Technology
Health Information Management Systems
CPSI
AdvancedMD
CureMD Healthcare
Greenway Health, LLC

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In the United States, the regulations for electronic health records (EHRs) are primarily set by the Department of Health and Human Services (HHS) through the Office of the National Coordinator for Health Information Technology (ONC) and the Centers for Medicare & Medicaid Services (CMS).

The HITECH Act, which was passed in 2009 as part of the American Recovery and Reinvestment Act, provides financial incentives for healthcare providers to adopt and effectively use EHR systems. The HITECH Act also established the meaningful use program, which establishes standards for the use of EHR systems in order to qualify for these incentives.

The 21st Century Cures Act, passed in 2016, established the certification program for health IT, including EHRs, which is run by the Office of the National Coordinator for Health Information Technology (ONC) and is intended to increase the interoperability and security of EHR systems.

APAC countries have a unique regulatory approach, although there are similarities. APAC has been making investments in healthcare digitalization to improve efficiency, cut costs, and automate/eliminate redundant processes. As a result, IT adoption is igniting a new wave of development in APAC's public and private hospitals.

In Australia scope of regulated software-based products” provides a comprehensive overview of its approach to software qualification. It outlines a risk-based approach to software qualification that excludes or exempts many types of low-risk software products, such as software that serves as electronic patient records and software used for clinical workflow and support.

The government of India has established the State Electronic Health Authority (SeHA) under the auspices of the National Electronic Health Authority (NeHA), which will operate under The Digital Information Security in Healthcare Act (DISHA). NeHA will act as a superior authority, ensuring the security, confidentiality, and privacy of patient data while creating a centralized EMR repository for medical institutions to easily access a patient's health history and situation. The new legislation will improve data privacy, confidentiality, and standardization. The passage of various healthcare-related laws will boost people's trust in EMR, thereby driving market growth.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Electronic Health Records Market Segmentation

By Product (Revenue, USD Billion):

Web-based and cloud-based software is more affordable since it saves on additional costs like license fees, regular upgrades, and device upkeep. Additionally, it reduces the need for IT workers because SaaS providers help with software installation, configuration, testing, operation, and upgrades. The cost-effectiveness of cloud-based EHR systems in small healthcare organizations will therefore fuel developments as well as the expansion of the category. MHealth services

Web/Cloud-based EHR software
On-premise EHR software

By Application Type (Revenue, USD Billion):

Large amounts of patient health data may be stored and processed by EHRs, which aids doctors in automating both financial and operational operations with rapid and simple access. Therefore, integrated EHR and practice management software navigates all tasks, making it easier for front-line healthcare providers to do their jobs, and will therefore drive the segment's revenue during the anticipated time period.

E-prescription
Practice management
Referral management
Patient management
Population health management

By End User (Revenue, USD Billion):

By 2027, the category of ambulatory surgical centres is expected to rise at a 7.1% annual rate. The acceptance of EHR in these facilities will be fueled by ambulatory surgical centres' growing preference for digital technologies to efficiently manage workflow. These are outpatient facilities offering planned surgeries and same-day surgical services.

Hospitals
Specialty centers
Clinics
Ambulatory surgical centers
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.