Electronic Health Records Software Market to enjoy 'explosive growth' to 2027 | Greenway Health, EClinicalWorks

Study Overview

The global electronic health records market size was estimated at USD 27.two billion in 2021 and it is anticipated to expand at a CAGR of 4.0% from 2022 to 2030. Government initiatives to encourage healthcare It usage is the key driver to this marketplace. For instance, My Health Record is a national digital health record platform in Commonwealth of australia. Every Australian citizen has a "My Health Record" unless they have chosen that they don't want it. The agency claims that by the end of 2022, all healthcare providers in the country volition be able to contribute to and use healthcare information available on the platform. Moreover, the introduction to technologically advanced healthcare services is also expected to drive electronic wellness record (EHR) market growth.

The spread of COVID-19 has put a lot of pressure on healthcare organizations since the beginning of 2020. The pandemic has negatively impacted the acquirement of major market place players due to a decline in new business bookings as certain client purchasing decisions and projects are delayed to focus on treating patients, procuring necessary medical supplies, and managing their organizations through this crisis. Besides, companies such as Allscripts experienced delays in deals with upfront software revenue and professional services implementations across their outpatient and inpatient bases.

New expansion activities, product approvals, product launches, partnerships, and acquisitions have positively impacted the EHR market in recent years. Furthermore, there has been a meaning increase in the need for electronic health records due to the growing digitalization which in plow is fueling the market growth. Ascension demand for centralization and streamlining of healthcare administration is likewise anticipated to drive the market for electronic wellness records. Centralization of health information management is driven by a value-based model which aims towards streamlining operations, standardizing processes, reduction of costs, and improving the quality of intendance that results in patient satisfaction.

Additionally, an increasing number of mergers and acquisitions by marketplace players are also boosting the market growth. For instance, in Jan 2021, Allscripts Healthcare Solutions announced a strategic partnership with the U.S. Orthopedic Alliance (USOA). This partnership is aimed at bringing to market efficient infrastructure designed to assist orthopedic practices calibration with agility, improving electronic health records implementation timelines, providing bear witness-based guidelines to support evolving clinical protocols, and creating community-wide connectivity with value-based care analytics.

Product Insights

The web-based EHR segment led the marketplace for electronic health records and accounted for the largest revenue share of more than 50.0% in 2021. This large market share is attributed to their popularity among the physicians and healthcare providers, which operate on a smaller scale. This is because web-based EHRs can be installed without the requirement of in-house servers and can also offering all-encompassing customizations and improvements, as per need.

The client server-based EHR segment is anticipated to show significant growth during the forecast menses. Client-server-based EHRs provides a safer culling for users as it offers in-house data storage, hence preventing data theft. These can also be customized as per client requirements and also are a favorable option in the case of multi-physician facilities. Furthermore, they do non crave a stable internet connection as compared to spider web-based EHRs, which further drives segment growth.

End-utilise Insights

The hospital segment dominated the electronic wellness records (EHR) market and held the largest acquirement share of more than 60.0% in 2021. The growth tin be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation in electronic health records is less in hospitals equally compared to ambulatory care centers, which also boosts the market place growth. They likewise help in saving time for large-scaled hospitals, which further fuels the market. Furthermore, the high adoption of electronic health records in pocket-size and midsized hospitals, due to factors such as ease of deployment, is expected to drive the segment.

Convalescent care centers provide convenience to the patients also as healthcare providers. The ascension number of ambulatory care centers in the developed besides every bit developed economies is expected to drive the segment. Inside convalescent care centers, large-scale ambulatory intendance centers witness high adoption of electronic wellness records as compared to small-scale ones. This is because the installation cost of electronic health records is college in ambulatory care centers and large-scale centers have easy availability of capital investments; they can as well handle productivity challenges.

Type Insights

The acute EHR segment dominated the marketplace for electronic health records and accounted for the largest revenue share of virtually 46.8% in 2021. The growth tin be attributed to the government initiatives for the adoption of electronic health records in minor-scale facilities. For case, acute care hospitals in the U.Southward. which are covered under the Inpatient Prospective Payment System (IPPS) are eligible for the Medicare incentive payment system. Acute care electronic health records generate patient data that can provide all clinical details. These details can also be used for ICU, emergency department, inpatient unit of measurement, and operating room purposes.

Ambulatory electronic health records are meant for utilise in outpatient care facilities and small practices. Government support for the adoption of convalescent electronic wellness records, especially during the COVID-nineteen pandemic, is expected to heave market growth. Easy usage as compared to the inpatient electronic health records is expected to drive the market growth. These electronic health records bargain with a single practice and its patient, instead of a complex web of hospital departments. Companies dealing in convalescent electronic wellness records include Epic Corporation, eClinicalWorks, Allscripts Healthcare LLC, GE Healthcare, NextGen Healthcare, Do Fusion, athenahealth, Greenway Medical Technologies, Vitera Healthcare Solutions, and McKesson Corporation.

Postal service-astute EHRs are mainly used for providing rehabilitation services that patients receive afterwards a stay in an acute care hospital. Mail-acute intendance facilities consist of inpatient rehabilitation centers and hospitals, home health agencies, and long-term care hospitals. Ascension spending on post-acute care facilities is anticipated to boost market growth. Electronic health records used in long-term intendance facilities permit easy exchange of information within departments besides, which can further heave the market. Yet, lack of awareness, especially in developing economies of Asia Pacific and MEA is expected to negatively impact the market.

Business Model Insights

The professional person services segment dominated the market for electronic health records and deemed for the largest revenue share of more than 31.0% in 2021. Professional services help healthcare systems in the implementation of data systems in their organizations. They are usually in the form of project management, technical and application expertise, clinical process optimization, regulatory consulting, and grooming of end-users for designing and implementing electronic health record systems. Information technology is also expected to garner the largest market share owing to its wide range of applications for the implementation of information systems in organizations. Electronic health records are as well provided on a time-based subscription model, which has a periodic usage charge. This is one of the chief means in which medical noesis is packaged and delivered.

Inside the applied science resale segment, licensed software is bundled with IPs of other companies in the form of sublicenses for creating complete technology solutions for healthcare systems. Licensed software includes application software, architectures, executable and referential knowledge, and data and algorithms. Professional services assistance healthcare systems in the implementation of data systems in their organizations. They are usually in the course of project management, technical and application expertise, clinical process optimization, regulatory consulting, and grooming of end-users for designing and implementing electronic health records systems. Other business models include managed services, support and maintenance, and other such services.

Regional Insights

North America dominated the marketplace for electronic health records and accounted for the largest revenue share of nearly 45.iv% in 2021. The major factor contributing to the growth of this region is the policies that support the adoption of electronic health records and the availability of infrastructure with high digital literacy. In May 2020, the federal authorities proposed the Federal Health IT Strategic Plan 2020 - 2025 that mandates the meaningful usage of electronic health records past healthcare providers. The Digital Single Market place Strategy past the European Commission furnishes consumers and businesses with access to online services and goods across Europe, thus providing necessary conditions for the growth of the digital network and centrolineal services, which is expected to maximize the growth potential of the European economy.

In Asia Pacific, the marketplace for electronic health records is anticipated to demonstrate lucrative growth during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards and services which are boosting the digitalization of healthcare in the region. The Ministry of Health in Communist china has defined an activeness plan for the usage of services related to e-health across the country encompassing broad areas of medical services, insurance plans, and with a large focus on the adoption of electronic tape, systems to allow data sharing across the national healthcare system.

Primal Companies & Market Share Insights

The market leaders are involved in product launches, collaborations, expansions, and acquisitions to sustain the competition. Established organizations, as well as small players, are investing in mergers and acquisitions to gain a competitive edge. For instance, in December 2021, Oracle acquired Cerner Corporation for a value of USD 28.iii billion. This acquisition strengthened Oracle's position in the EHR Marketplace, equally Cerner was a leading player in the infinite. Furthermore, in April 2021, Cerner Corporation acquired Kantar Health, for approximately USD 375 one thousand thousand. This acquisition combined Cerner's collection of existent-world data and technology and Kantar's life sciences expertise and accelerated innovation in life sciences research and improved worldwide patient outcomes. Some of the prominent players in the electronic wellness records market include:

• Cerner Corporation (Oracle)

• GE Healthcare

• Allscripts Healthcare, LLC

• McKesson Corporation

• Epic Systems Corporation

• NextGen Healthcare, Inc.

• eClinicalWorks

• Medical It, Inc.

• Health Data Management Systems

• CPSI

• AdvancedMD, Inc.

• CureMD Healthcare

• Greenway Wellness, LLC

Electronic Wellness Records Market Report Telescopic

Report Attribute	Details
Market size value in 2022	USD 28.ane billion
Revenue forecast in 2030	USD 38.five billion
Growth charge per unit	CAGR of 4.0% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030
Quantitative units	Acquirement in USD meg and CAGR from 2022 to 2030
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Production, type, end-apply, business model, region
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	U.S.; Canada; U.K.; Germany; France; Italy; Spain; Netherlands; Sweden; Russia; Japan; China; India; Commonwealth of australia; Singapore; Brazil; S Africa; Saudi Arabia
Key companies profiled	Cerner Corporation (Oracle); GE Healthcare; Allscripts Healthcare, LLC; McKesson Corporation; Epic Systems Corporation; NextGen Healthcare, Inc.; eClinicalWorks; Medical Information technology, Inc.; Wellness Information Direction Systems; CPSI; AdvancedMD, Inc.; CureMD Healthcare; Greenway Health, LLC
Customization scope	Free report customization (equivalent up to viii analysts' working days) with buy. Add-on or alteration to country, regional, and segment scope.
Pricing and buy options	Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global electronic health records market place written report on the basis of product, type, end-use, business models, and region:

• Product Outlook (Revenue, USD 1000000, 2017 - 2030)

  • Customer-server-based EHR

  • Web-based EHR

• Type Outlook (Revenue, USD One thousand thousand, 2017 - 2030)

  • Acute

  • Ambulatory

  • Post-acute

• Stop-use Outlook (Acquirement, USD Million, 2017 - 2030)

  • Hospital Utilize

  • Ambulatory Utilise

    • Doc's Clinic

    • Laboratories

    • Pharmacy

• Business concern Models Outlook (Acquirement, USD Million, 2017 - 2030)

  • Licensed Software

  • Applied science Resale

  • Subscriptions

  • Professional Services

  • Others

• Regional Outlook (Revenue, USD Meg, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • French republic

    • Italia

    • Spain

    • Netherlands

    • Sweden

    • Russia

  • Asia Pacific

    • Japan

    • China

    • Bharat

    • Australia

    • Singapore

  • Latin America

    • Brazil

  • Middle East & Africa

    • Southward Africa

    • Kingdom of saudi arabia

Frequently Asked Questions About This Report

b. The global electronic wellness records market size was estimated at USD 27.ii billion in 2021 and is expected to reach USD 28.i billion in 2022.

b. The global electronic health records marketplace is expected to abound at a chemical compound annual growth charge per unit of 4% from 2022 to 2030 to reach USD 38.5 billion by 2030.

b. The web-based electronic health records segment led the global market place in 2021.

b. The acute blazon segment dominated the global electronic wellness records market place with a share of over 46% in 2021.

b. The professional services segment dominated the global electronic wellness records market with over 31% share in 2021.

Source: https://www.grandviewresearch.com/industry-analysis/electronic-health-records-ehr-market

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