Electronic Medical Records Market: Industry Analysis, Market Size and Growth, Forecasts and Opportunity Assessment (2018-2022)
The Electronic Medical Records Market: EMR industry, is expected to reach US$ 36 billion dollars by 2022 and is expected to record at a CAGR of 4.3% for the 2018 – 2022 period. The healthcare records are monitored by these healthcare emr systems in place, which are expected to exhibit a strong momentum due to increasing digitization in the healthcare industry.
Introduction
Electronic medical record (EMR) is a systematic electronic information of patient’s health records. These records are shared through network-connected information system. The electronic medical record has data on demographics, medical history, personal statistics like age and weight, medication,allergies, immunization status, radiology images, vital signs, laboratory test results and billing information. The electronic medical record captures the patient’s data across time and eliminates the need to track down a patient’s previous medical records which are in paper format. Electronic medical records are advantageous as compared to paper records because it tracks data over time and identifies patients who are due for preventive visits and screenings. They also monitor how patients measure up to certain parameters like vaccinations and blood pressure readings and overall improve quality of healthcare in a practice.
Market Dynamics
The global electronic medical records market is expected to due to increasing favorable government initiative programs. A lot of government initiatives are being introduced, which generally focus on laying down the standards, regulations, and infrastructure for maintaining medical records. Therising focus on the reduction of fraud and focus on reducing medical errors is likely to increase the size of the market. Also, the need to reduce escalating healthcare costs are driving the market. The abuse of controlled substances is also a driving factor for the market. In growing purchasing power and technological advancements in developing countries especially Asia-Pacific is likely going to increase the EMR market rapidly. The high cost of deployment,unwillingness to adapt to new technologies and security issues are restraining the growth of the market. Patients lose trust in EMRs because of the data privacy issues. The increasing competition in the market is expected to drive innovation, which will eventually help the industry overcome the challenge of lack of technology awareness among the end users.
Market Segmentation
The global electronic medical records market can be segmented based on the product type, delivery mode and based on the end users.On the basis of the product type, the market can be divided into e-prescribing services and e-prescribing solutions. On the basis of the delivery mode, the market can be divided into on-premise solutions and combination of web and cloud-based solutions. On the basis of the end users, the market can be divided as hospitals, pharmaceuticals and office-based physicians.
Geographic Analysis
The global electronic medical records market is led by North America with about 40% of the market share. The better healthcare facilities and infrastructure in North America is promoting the growth of the market. InAsia-Pacific, the e-prescribing market is expected to grow rapidly with the help of healthcare organizations which are moving towards digitization. Japan is improving quality healthcare for their patients by adopting e-prescribing,EMR systems, healthcare information exchange, etc. which will likely increase the market size.
Key Players
The major players in the market are:
- GE Healthcare
- Next Gen Healthcare
- Epic
- McKesson
- WRS Health
The report contains comprehensive analysis on:
- Electronic Medical Records Market Segments
- Electronic Medical Records Market Drivers, Restraints and Opportunities
- Electronic Medical Records Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Electronic Medical Records Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Electronic Medical Records Market includes
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Report Highlights:
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage
