Electronic Health Record Market Report - Industry Size and Global Share 2021: Business Expansion Strategies, Growth Dynamics, Opportunities and Challenges Forecast to 2027

 As per UnivDatos Market Insights, Electronic Health Record Market was valued at US$ 27.2 billion in 2020 and is expected to reach US$ 37.3 billion by 2027, registering a CAGR of 4.64% during the forecast period (2021-2027).

The surge in the Electronic Health Record Market due to the increase in incidences of chronic diseases, introduction of artificial intelligence (AI) in the healthcare industry, rise in the use of healthcare information technology (HCIT). Moreover, the government initiatives to increase the use of EHR are also propelling market growth. For instance, the Australian Government has taken the initiative to promote healthcare IT in Australia through a lifetime policy PCEHR (Personally Controlled Electronic Health Record) for each of its citizens.

The report “Global Electronic Health Record Market: Current Analysis and Forecast (2020-2027)” by UnivDatos Market Insights deliver a comprehensive analysis of the product, type, applications, end-user, and region.

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Global Electronic Health Record Market Segmentation

By Product:

·       Web-based

·       On-premise based

By Type:

• Acute
• Ambulatory
• Post-acute

By Applications:

• Clinical
• Administrative
• Reporting in Healthcare Systems
• Healthcare Financing
• Clinical Research

By Region:

• North America

Ø  United States

Ø  Canada

Ø  Rest of North America

• Europe

Ø  France

Ø  Germany

Ø  Italy

Ø  Spain

Ø  United Kingdom

Ø  Rest of Europe

• Asia-Pacific

Ø  China

Ø  Japan

Ø  India

Ø  Rest of Asia-Pacific

• Rest of World

Based on Types, the global electronic health record market is fragmented into Acute, Ambulatory, and Post-acute. The acute subsegment accounted for the major market share in 2020 owing to the rise in the government initiatives for the adoption of EHRs in the small-scale industries. The ambulatory EHRs are expected to show significant growth in the forecast period. The ambulatory EHR is mainly used in medical practices and outpatient settings. The outpatient care facilities and small healthcare practices are the main areas in which ambulatory EHRs work. For instance, NextGen Enterprise software helps to accommodate the requirements of ambulatory practices of all kinds. This software provides the proper healthcare to ambulatory patients, population health needs, and value-based care initiatives.

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Based on Applications, the global electronic health record market is divided into Clinical, Administrative, Reporting in Healthcare Systems, Healthcare Financing, and Clinical Research. The clinical sub-segment is expected to dominate the market in the forecast period owing to the rise in the number of chronic diseases and surgeries. For instance, as per WHO, Cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Four out of 5CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age.

Based on Types, the global electronic health record market is fragmented into Acute, Ambulatory, and Post-acute. The ambulatory EHRs are expected to show significant growth in the forecast period. The ambulatory EHR is mainly used in medical practices and outpatient settings. Based on End-user, the global electronic health record market is bifurcated into hospitals, Ambulatory care, Pharmacies, and others. In 2020, Hospital was the largest market for electronic health record technology, owing to the rise in adoption of EHR in hospitals for the maintenance of large clinical data

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Additionally, this report also provides insights into the global electronic health record market according to the regions such as North America, Europe, Asia-pacific, and the rest of the world. North America dominated the market and is expected to witness the rise in the number of new and advanced technology product launches. Moreover, the rising incidents of chronic diseases in the US region also propels the market growth. For instance, out of 2 billion people affected by kidney failure per year, 750,000 belong to the United States.

Key players

The market is highly fragmented due to the presence of different large, small, and medium-scale players. The market for Electronic Health Record is highly competitive. Some of the key players that hold major market share include companies are:

•     GE Healthcare

•     Allscripts Healthcare Solutions

•     Cerner Corporation

•     Advanced Data Systems Corporation

•     Athenahealth, Inc.

•     Advanced MD

•     eClinicalWorks

•     Epic Systems Corporation

•     McKesson Corporation

•     CPSI

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