Electronic Medical Records Market

Electronic Medical Records Market registered a revenue of USD 26.6 billion in 2022 and is projected to reach USD 42.8 billion in 2030, growing at a CAGR of 6.1% during the forecast period from 2023-2030.

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Major Electronic Medical Records Market Drivers

Emerging need for an effective and smooth healthcare system and advancements in the software technology and medical system stands to be the major factors propelling the global electronic medical records market growth. With the increasing digitalization in healthcare, government has enforced strategic initiatives to encourage the use of healthcare IT, driving the market size. For example, in March 2021, the European Commission adopted an exhortation on a European electronic health record exchange format to unlock the circulation of health data across borders so that European citizens can safely access and exchange their health data anywhere in Europe. In addition, the advent of technologically advanced healthcare services and increasing demand for streamlining healthcare administration, and integration of healthcare IoT will offer enormous opportunities to the market over the upcoming years. Leading market players have adopted various strategies such as product innovation, collaboration, and expansion to maintain their competitiveness in the market. For example, in December 2021, Oracle took over Cerner Corporation for USD 28.3 billion. This acquisition intensified Oracle’s position in the EHR Market, as Cerner was a prominent player in the market. However, high cost of EMR services, lack of professional staff, and growing concern pertaining data safety might hamper the Electronic Medical Records Market Share.

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Type – Product Analysis

Based on the type, acute is expected to dominate the global electronic device market over the forecast period. The growth can be credited to the strategic government initiatives for the adoption of EHRs for small-scale facilities. For example, acute care hospitals in the U.S., which are covered under the Inpatient Prospective Payment System (IPPS) and are eligible for the medicare incentive payment system.

Product – Product Analysis

Based on the product, web-based segment is expected to dominate the global electronic medical record market over the forecast period. This growth is credited to the growing popularity of web-based EHRs among healthcare providers and physicians, which is operated on a smaller scale. These products can be installed without the

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Regional – Product Analysis:

On the basis of regional coverage, North America is expected in the global electronic device market over the forecast period. The factor that is projected to propel the growth of the market is the increasing number of favorable strategies to increase the adoption of electronic health records & the availability of infrastructure with high digital literacy. In 2020, the federal government implemented the Federal Health IT Strategic Plan 2020-2025 to support the usage of EHR by healthcare providers. This is another important factor that has fuelled the growth of the market.

Top Market Players

Some of the leading players operating in the market include Fresenius Medical Care, GE Healthcare, Allscripts Healthcare, LLC, McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, Inc., EClinicalWorks, Medical Information Technology, Inc., HMS, and CPSI. 

Key Developments:

• • In 2022, Visionflex joined forces with MediRecords, Australia’s leading vendor of cloud-based electronic medical record and practice management systems. The collaboration helped companies to incorporate Visionflex’s video conferencing platform, Vision, with MediRecords’ cloud-based electronic health record and practice management software platforms.
  • In 2021, Simbo.ai introduced SimboAlpha, its flagship cloud-based API technology platform. It enables electronic medical record (EMR) vendors, health app providers, and hospital chains to bring smart voice based EMR to their doctors.
  • In January 2021, Allscripts Healthcare Solutions entered into a partnership U.S. Orthopedic Alliance (USOA). This partnership is intended to help orthopedic practices scale with agility, enhance electronic health records by implementation timelines, offering evidence-based guidelines to support evolving clinical protocols, and generating community-wide connectivity with value-based care analytics.
  • In 2019, Fresenius Medical Care (Germany) acquired NxStage Medical, Inc. (US). This acquisition strengthens the company’s business in the US. It enables Fresenius Medical Care to leverage its manufacturing, supply chain, and marketing competencies across the dialysis products, services, and care coordination businesses, especially in-home dialysis and critical care.

Products covered in the Report:

The global electronic medical records market has been product on the basis of type, product, End-Use, and regions. Based on type, the market is segmented into into acute and post-acute. Based on Product, the market is segmented into web based and client server based. Based on end-use, the market is segmented into ambulatory care and hospital. 

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Market Segmentation

Global Electronic Medical Records Market by Type

• • Acute
  • Post-Acute

Global Electronic Medical Records Market by Product

• • Web-Based
  • Client Server Based

Global Electronic Medical Records Market by End-Use

• • Ambulatory Care
  • Hospital

Global Electronic Medical Records Market by Region

• • North America Electronic Medical Records Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Product
    • By End-Use
    • US Market All-Up
    • Canada Market All-Up

  • Europe Electronic Medical Records Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Product
    • By End-Use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Electronic Medical Records Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Product
    • By End-Use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Electronic Medical Records Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Product
    • By End-Use
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Electronic Medical Records (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Fresenius Medical Care
  • GE Healthcare
  • Allscripts Healthcare, LLC
  • McKesson Corporation
  • Epic Systems Corporation
  • NextGen Healthcare, Inc.
  • EClinicalWorks
  • Medical Information Technology, Inc.
  • HMS
  • CPSI