A wide-reaching Electronic Medical Records (EMR) Market research report brings into focus the key market dynamics of the sector. This market study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis. The report provides fluctuations in CAGR values during the forecast period of the market. The transformation in the market landscape is mainly observed due to the moves of key players or brands which range from developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.
The surging need for integrated healthcare system across various hospitals and clinics have increased the requirement of electronic medical records. Moreover, the increasing volume of data and growing demand for cloud storage due to COVID-19 is further propelling the overall need for electronic medical records (EMR) to store important documents related to the patient’s illness. The growth of the market has been rising significantly over the past few years, and is projected to skyrocket in coming years.
Global electronic medical records (EMR) market was valued at USD 29,092.13 million in 2021 and is expected to reach USD 47,640.2 million by 2029, registering a CAGR of 7.30% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
An electronic medical record is a digital representation of a patient’s paper-based medical information. The goal of these electronic medical records is to improve the overall quality of care. Clinical, financial, demographic, and coded healthcare data are part of an electronic medical record.
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Electronic Medical Records (EMR) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Growing Investments and Advancements
The big data trends in the healthcare industry are also projected to cushion the market’s growth. Moreover, many government initiatives to encourage physicians to adopt electronic health records, invest in training the healthcare information technology workers, and establish regional extension centers to provide technical and other advices are estimated to generate lucrative opportunities for the market. The rising need for integrated healthcare system will further expand the electronic medical records (EMR) market’s growth rate in the future.
Furthermore, the initiatives by the governments, technological advancements and low maintenance and wider accessibility are also expected to fuel market growth. The introduction of artificial intelligence (AI) in the development of EHRs software and advancements in software technology and the healthcare sector are also expected to accelerate the market’s overall growth. Moreover, the technological advances in the field of data storage also cushions the market’s growth within the forecasted period.
Opportunities
The cloud architecture ensures true disaster recovery and business continuity solutions, further boosting the quality of patient care which will provide considerable growth opportunities throughout the forecasted period. Moreover, the strategies such as the new product launch, collaboration, merger and acquisition by the market players in order to increase the market share will also offer lucrative opportunities for the market.
This electronic medical records (EMR) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electronic medical records (EMR) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Electronic Medical Records (EMR) Market Scope
The electronic medical records (EMR) market is segmented on the basis of component, type, category, mode of delivery, applications, end-user and functionality. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
Services
Software
Hardware
Type
Traditional EMRs
Speech Enabled EMRs
Interoperable EMRs
Category
General EMR
Specialty EMR
Mode of Delivery
On- Premises
Cloud- Based
Applications
Cardiology
Neurology
Radiology
Oncology
Other Applications
End-User
Hospital-Based EMR
Physician-Based EMR
Functionality
Basic Systems
Fully Functional Systems
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Electronic Medical Records (EMR) Market Regional Analysis/Insights
The electronic medical records (EMR) market is analyzed and market size insights and trends are provided by country, component, type, category, mode of delivery, applications, end-user and functionality as referenced above.
The countries covered in the electronic medical records (EMR) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the electronic medical records (EMR) market because of the favorable insurance policies, presence of well-established healthcare and leading market players within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the developing healthcare infrastructure and government initiatives to encourage physicians to adopt electronic health records within the region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electronic Medical Records (EMR) Market Share Analysis
The electronic medical records (EMR) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electronic medical records (EMR) market.
Some of the major players operating in the electronic medical records (EMR) market are Cerner Corporation (US), Epic Systems Corporation (US), Allscripts Healthcare, LLC, (US), Medical Information Technology, Inc. (US), CPSI (US), General Electric Company (US), athenahealth, (US), MEDHOST (US), eClinicalWorks (US), NXGN Management, LLC. (US), Intersystems Corporation (US), CareCloud, Inc. (US), Cantata Health Solutions(US), Advanced Data Systems (US), and CureMD Healthcare(US) among others.
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Research Methodology: Global Electronic Medical Records (EMR) Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
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