Electronic Medical Records Market
Increasing digitization is propelling deployment of Electronic Medical Records across the global healthcare sector.
Increasing digitization is propelling deployment of Electronic Medical Records across the global healthcare sector.
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<strong>Electronic</strong> <strong>Medical</strong> <strong>Records</strong><br />
<strong>Market</strong> Size To Reach Close<br />
To US$ 40 Billion upto<br />
2024
The Global <strong>Electronic</strong> <strong>Medical</strong> <strong>Records</strong> <strong>Market</strong> was valued at US$ 21,444.4 million in 2015 and is projected to expand<br />
at a CAGR of 6.9% during the forecast period (2016–2024),as highlighted in a new report published by Coherent<br />
<strong>Market</strong> Insights.Increasing digitization is propelling deployment of EMR across the global healthcare sector.<br />
Healthcare delivery is expected to undergo a drastic transformation through integration of information technology and<br />
healthcare services. The market is presenting new growth avenues for healthcare companies as well as major IT<br />
companies such as Apple and Microsoft. These companies are working in close coordination with healthcare service<br />
providers, understanding the various nitty-gritties of processes and problems and accordingly developing integrated<br />
solutions. Besides, emergence of health monitoring devices and applications and rising awareness among the populace<br />
about the ease of use and various benefits of such services led to increases demand for digital solutions to track health<br />
parameters and securely access personal medical records. Moreover, the advent of on-cloud EMR solutions further<br />
provides significant growth traction for the electronic medical records market.<br />
There are plethora of electronic medical record solutions available in the market, which makes the market highly<br />
competitive diverse scale of operations and unique requirements of users. However, the market provides highly lucrative<br />
growth opportunities, given the increasing inclination of various governments towards encouraging deployment of EMR in<br />
hospitals and private clinics. For instance, the Dubai government, has installed EMR system, Salama, across the Dubai<br />
Health Authority (DHA) network of health facilities. The government will be rolling out its MER system across the DHA<br />
network in three phases through 2017.<br />
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Key takeaways of the market:<br />
The global electronic medical records market is expected to expand at a CAGR of 6.9% during the forecast period (2016–<br />
2024) as there exists a huge demand especially in Asia Pacific, Latin America, Middle East and Africa markets<br />
Cloud-based solutions are expected to fuel the global electronic medical records market growth exponentially during the<br />
forecast period. Chain of hospitals and diagnostic laboratories who can afford cloud-based EMR systems find it very<br />
beneficial for their patients.<br />
Hospitals are the major end users of EMR systems as these organizations deal with a huge patient database and have high<br />
demand among their patients to access their medical records<br />
The demand for EMR is growing in ambulatory/outpatient services, which is expected to fuel the growth of this market in near<br />
future<br />
High healthcare spending and rapid digitization has supported the North America and European regions to dominate this<br />
market. However, increasing funding in emerging regions driving better healthcare infrastructure would drive substantial<br />
demand in Asia Pacific and Latin America during the forecast period.<br />
Some of the major players involved in global electronic medical records market include Cerner Corporation, Allscripts-Misys<br />
Healthcare Solutions Inc., McKesson Corporation, Quadramed Corporation, <strong>Medical</strong> Information Technology Inc., Sage<br />
Software Healthcare Inc., Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation,<br />
and GE Healthcare.<br />
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