Electronic Medical Records Market Future and Technological Advancement

Posted January 8, 2019 by coherent123

The global healthcare sector is undergoing a wave of transformation, with digitization being the core focus area of service providers.

The global healthcare sector is undergoing a wave of transformation, with digitization being the core focus area of service providers. Healthcare IT products and systems are in high demand in emerging nations such as India, China, Brazil, Indonesia, and also Israel, as part of the ongoing upgrade of healthcare infrastructure in these countries. This is expected to propel growth of the electronic medical records market in these regions. Deployment of EMR systems involves long-term collaboration between the system developer and user. This service offering generates a continuous revenue model for electronic medical record service providers. The global market is therefore expected to grow at a sustainable rate over the foreseeable future.
The question for sustainability of this system arises on account of the existence of electronic health records (EHR), which allows easy access to patient health records irrespective of the time and physical location of the user. The EHR system, however, finds major applicability in large hospitals, and diagnostic centers thus paving the opportunity for EMR in smaller and medium-sized private clinics and health centers, which account for a major share of the healthcare practices.
The global electronic medical records market was valued at US$ 21,444.4 million in 2015 and is expected to witness a CAGR of 6.9% during the forecast period (2016 – 2024).

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Inconsistent return on EMR systems is expected to hinder the market growth

The risk associated with chronic diseases such as obesity, cardiovascular attack, neurological conditions, and cancer increases with age. This further leads to patient visits to specialty centers or hospitals for the treatment and monitoring of such diseases and data being stored in the electronic medical record system increases with multiple doctor visits. Therefore, quantifying monetary return on EMR systems is one of the major challenges faced by the healthcare facilities. Moreover, competing priorities of healthcare facilities compromises on the use EMR system. Another major restraint affecting the market growth is the affordability of EMR system in emerging economies.

Market Taxonomy
This report segments the global electronic medical records market on the basis of component, product type, deployment, end user, and geography. On the basis of component, the market is categorized into software and service. On the basis of product type, the market is categorized into inpatient and outpatient EMR. The electronic medical record is also segmented based on deployment as on premise, cloud-base and hybrid systems. On the basis of end-user, the market is categorized into ambulatory surgical centers, specialized clinics, hospitals and general physician specialized clinics. For comprehensive understanding of market dynamics, the global electronic medical records market is analyzed across key geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Detailed Segmentation:
• Global Electronic Medical Records Market, By Product Type:
◦ Inpatient EMR
◦ Outpatient EMR
• Global Electronic Medical Records Market, By Component:
◦ Software
◦ Services
• Global Electronic Medical Records Market, By Deployment:
◦ On-premise
◦ Cloud-based
◦ Hybrid
• Global Electronic Medical Records Market, By End User:
◦ Ambulatory Surgical Centers
◦ Specialized Clinics
◦ Hospitals
◦ General Physician Specialized Clinics
• Global Electronic Medical Records Market, By Geography:
◦ North America
◦ Europe
◦ Asia-Pacific
◦ Latin America
◦ Middle East
◦ Africa

Key Players: Cerner Corporation, Allscripts-Misys Healthcare Solutions Inc., McKesson Corporation, Quadramed Corporation, Medical Information Technology Inc., Sage Software Healthcare Inc., Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation, and GE Healthcare

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Issued By coherent
Country India
Categories Health
Tags Electronic Medical Records Market , Electronic Medical Records growth , Electronic Medical Records outlook , Electronic Medical Records trends , Electronic Medical Records insights
Last Updated January 8, 2019