The primary driving force for the growth of the electronic health records (EHR) market includes the rise in the adoption rate of EHR, incorporation of Healthcare information technology (HCIT), and the growing geriatric population with the subsequent rise in number of chronic diseases. The government initiatives to go paperless for documentation of healthcare data and the growing trend of cloud-based EHR software in the industry is expected to grant opportunities to key players of the market.

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The industry on the basis of an end user is categorized into hospitals, pharmacies, ambulatory care and others. A large number of patient pool in hospitals results in generation of large volume of data. This has led the inclination of hospitals to adopt EHR systems to manage their patient’s clinical data, leading to the largest contribution of hospitals in the global EHR market. The hospitals constitute 82.7% share of the global market in 2017 and is expected to lead the market in size during the forecast period.

North America is the largest contributor to the global EHR industry, whereas Asia-Pacific is expected to witness a significant growth at a high CAGR of 9.1% during the forecast period.

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The key players of the EHR industry are maintaining their competency through the launching of new products. For example, in March 2018, Allscripts Healthcare Solutions, Inc. unveiled Avenel, the company’s new electronic health record (EHR). Mobile-first and cloud-based, Avenel creates a community-wide shared patient record, uses machine learning to reduce time for clinical documentation and is designed to work like an app instead of traditional software.

Some of the leading players of the global EHR market include McKesson Corporation, Cerner Corporation, Epic Systems Corporation, NextGen Healthcare Information Systems, LLC, GE Healthcare, Greenway Health, LLC, eClinicalWorks , and athenahealth Inc.

Source: VynZ Research