Global Electronic Medical Records Market Analysis (2023-2030)
As per our research report, the Global Electronic Medical Records market size is estimated to be growing at a CAGR of 6% from 2023 to 2030.
The pandemic had a positive impact on the electronic health records market. The increase in health awareness during the pandemic led to an increase in demand for EMR systems and software in hospitals, clinics, diagnostic centers, and other healthcare facilities. Furthermore, increased cases of virus outbreaks emphasized the need to manage patients’ data in a single platform, which is accurate, reliable, and efficient. This increased the demand for cloud-based EMR software, as they were easy to operate and provided easy access to medical data from any device such as mobiles, laptops, computers, and others.
Furthermore, diagnostic centers and research labs increasingly use EMR systems to analyze, predict, and devise treatment methods based on the data gathered about virus outbreaks. In addition, the rise in at-care during the pandemic increased the demand for telehealth services, which raised the demand for specialized EMR software that enabled doctors to manage and schedule appointments, perform automatic billing and documentation, and others. On the other hand, EMR software enabled individuals to automatically fill medical data. This further reduced delays in treatment amidst a shortage of healthcare services during the pandemic.
The restraints to this market include data & security issues, and complexity in handling & lack of proper technological knowledge regarding EMR software.
KEY MARKET INSIGHTS:
- Based on market segmentation by component, software holds the highest share in the market at about 33%. The growth is attributed to increased demand for centralized data management and storage software from the medical industry. Moreover, the medical sector constantly deals with large sets of medical data, which can be easily analyzed by EMR software solutions. In addition, EMR software offers increased security and easy accessibility to healthcare professionals. Furthermore, hardware is the fastest-growing segment during the forecast period. Hardware enhances the functioning of software and therefore is increasingly demanded in hospitals and clinics. The hardware used for storing EMRs are smart scanners, and connected devices such as mobile, tablets, computers, workstations, cloud-based servers, and others. Among these, cloud-based servers for EMR are increasingly in demand due to features such as cost-effectiveness, hassle-free monitoring and analyzing, and easy integration with other devices.
- Based on market segmentation deployment mode, the cloud holds the highest share of about 28.5% in the market. Cloud-based EMR platforms are widely used by diagnostic centers and hospitals, due to their easy accessibility, greater scalability in dealing with large sets of medical data, and remote data management tools that help in analyzing the medical status of patients for future treatment procedures. Furthermore, the web-based segment is the fastest-growing segment during the forecast period. These are highly demanded by doctors for telehealth purposes, as this online software help them manage patient appointment, billing, e-prescription, and others. Moreover, it is a hassle-free option, as it provides easy access to not only patient-related medical data but also to population data that helps in analyzing future outbreaks, leading to reduced complexities and increased treatment effectiveness.
- Based on market segmentation by end-user, hospitals & clinics hold the highest share of about 35% in the market. The growth is attributed to rising demand for efficient, reliable, and accurate EMR software that assists in analyzing medical history, genetic data, and others easily. Moreover, EMR hardware is highly demanded by hospitals & and clinics, as these systems enable easy integration and collaboration with other devices and aid in the treatment process. Examples include the integration of radiology systems with EMR software for analyzing chronic illness in the patients’ bodies and devising treatment procedures based on that. Furthermore, diagnostic centers are the fastest-growing segment during the pandemic. Diagnostic centers increasingly use specialized EMR software for diagnosing patients’ illnesses and then transferring that data to hospitals, clinics, and other healthcare facilities for immediate treatment. Moreover, such data is also shared with research centers for predicting and analyzing future outbreaks of diseases.
- Based on market segmentation by region, North America holds the highest share of about 34% in the market. The growth is attributed to the increasing number of health risks in the region and well-established healthcare infrastructure along with advanced healthcare technologies. Furthermore, Asia-Pacific is anticipated to be the fastest-growing region during the outlook period. The growth is attributed to the rapid adoption of digitization, increasing demand for telehealth services, and the rising number of health-tech start-ups in major countries of the region such as India, China, Japan, South Korea, and others.
- Companies playing a leading role in the Global Electronic Medical Records market profiled in this report are Care360, Sevocity, Cerner, Optum Physician, EpicCare, Kareo Clinical, CampDoc, Greenway Health, QD Clinical, Advanced MD, and Cerner PowerChart.
MARKET SEGMENTATION
By Component
- Hardware
- Software
- Services
By Deployment Mode
- Cloud
- On-Premise
- We-Based
By End-User
- Hospitals & Clinics
- Pharmacies
- Ambulatory & Surgical Centers
- Diagnostic Centers
- Others
By Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle-East & Africa
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