Electronic health records, more frequently dubbed as HER, are computerized assortment of health records of a patient. This EHR is utilized by healthcare providers to examine the clinical data and thus offer appropriate healthcare alternatives.
The key factor boosting the expected to boost the global electronic health records market growth during the forecast period include the increasing need for centralization and reorganization of electronic healthcare systems, growing alertness regarding the significance & use of HER, and technological improvements in the healthcare IT sector. Further, initiatives by government endorsing EHR are projected to drive the market growth during coming years. Also, rising government spending and funding for the building of healthcare IT solution will surge the global market expansion. Moreover, the growing implementation of software solutions like clinical decision support system, clinical trial management systems, and data mining is further projected to fuel the market growth.
The global electronic health records market can be diversified on the basis of type, product, end user, application, and geography. the market, by product, is divided into server-based/on-premise software and cloud-based software. The market, by type, is segregated into ambulatory HER and inpatient EHR. The market, by application, is bifurcated into administrative application, clinical application, healthcare financing, reporting in healthcare system, and clinical research application. The market, by end-user, is divided into specialty centers, clinics, hospitals, and other medical settings.
Geographically, in 2018, the global electronic health records market was dominated by North America owing to factors like hastening implementation of healthcare information technology and the execution of numerous rules to increase the adoption rate of EHR in this region. likewise, Asia Pacific is also projected to witness lucrative growth during the forecast period owing to the rising demand for the value-based healthcare system and the snowballing elderly population base coupled with the succeeding increase in incidence of chronic diseases.
The prominent players actively participating within the global electronic health records market consist of CureMD Corporation, Computer Programs and Systems, Inc., Quality Systems, Inc., eClinicalWorks, Allscripts Healthcare Solutions, Inc., General Electric Company, AdvancedMD, Inc., Epic Systems Corporation, Cerner Corporation, and Greenway Health, LLC, among others. The key strategies implemented by some of leading players to strengthen their market status include product development via inclusion of new interoperability & features, mergers, and collaborations. To cite, Cerner Corporation, in August 2019, declared the building of Cerner Learning Health Network in consort with Duke Clinical Research Institute. This development will help in improvement of clinical research registries and also magnify the client base of the firm.