Electronic Health Records (EHR) Market Analysis by Product (Client–Server-based, Web-Based), By End-use (Hospitals, Physicians, Clinical/Diagnostic Laboratories Ambulance, Pharmacies) And Segment Forecasts To 2022

Published: April 2015 | ISBN Code: 978-1-68038-394-2 | Report Format: PDF

Industry Insights

The global electronic health records (EHR) market size was estimated at USD 19.96 billion in 2014. Improvement in quality of healthcare delivery services due to advanced technology tools implementation, increasing the importance of patient access to medical information, and improving patient safety concerns are some of the high-impact rendering drivers for the EHR market. 

The global electronic health records industry is expected to witness growth owing to increasing usage of electronic gadgets such as smartphones and tablets, through which the users can have mobile access to the records. Software Advice, a web-based evaluation group, conducted a survey according to which 58% of users accessing records via their tablets or smartphones are satisfied with the performance. 

Management of patient record is useful in effectively supporting the clinical care and reduces the frequency of human error. Implementing software for recording the medical history of all the patients gives ease of operation and traceability, which is concerned with the patient safety. Furthermore, the presence of favorable government policies such as the American Recovery and Reinvestment Act (ARRA) is supporting the growth of electronic health record market. 

The introduction of technological advancements targeting next-generation electronic health record systems is expected to boost market growth. Clinicians and researchers from Boston Children’s Hospital exhibited innovative next-generation tools such as AudioHub, RNSafe, Advance seizures tracking systems, and Thermia. 

North America EHR market revenue by product, 2012 - 2022, (USD Million)

North America EHR market

Product Insights

The electronic health records market is segmented as client–server-based and web/cloud-based. The web/cloud-based was the largest product segment accounting for over USD 16.00 billion of the overall market in 2014. 

Client–server-based systems generally store data in-house. They require software, hardware, and server to be purchased and installed. Cloud-based EHR systems store data on external servers and can be accessed via the web, requiring simply a web and a platform interface. 

Web/cloud-based EHR market is expected to grow at a CAGR of over 5.0% over the forecast period due to its attractive benefits of less or no up-front cost of licensing or maintenance, ease of interoperability, and little or no investments in infrastructure. 

End-Use Insights

The end-use sub-segments for electronic health record market are ambulatory use and hospital use. The ambulatory use is sub-segmented into clinical use, retail pharmacy use, and stand-alone facility. 

In 2014, hospital use was sharing the largest part of revenue owing to rising need for optimum services, encouraging adherence to medication & consulting, and growing competition. Ambulatory use is forecasted to show a significant growth rate owing to factors such as the use of wireless EHR software in retail pharmacies, clinics & diagnostics labs, and increasing demand for EHR mobile services. 

Under the incentive program on EHR by Medicaid or Medicare, eligible hospitals, and other critical access hospitals qualify for incentive payments if they are found demonstrating a meaningful use of certified technology. 

Regional Insights

In 2014, North America held the largest share with USD 26 billion of government investments and HITECH act, a supporting government law providing as much as USD 64,000 from Medicaid and Medicare to each medical practitioner who has adopted an electronic health record system. Rising demand for improved quality of medical services, increasing pressure for healthcare cost containment, and encouragement through government funding are some of the major factors for North America electronic health record market growth.

Europe accounted for a profitable share in terms of revenue in 2014 due to various ongoing development activities by main players of the EHR industry. In October 2014, in the UK, an Epic system was installed at Cambridge University Hospitals NHS Foundation Trust costing USD 214 million.

Countries such as China, India, Brazil, Mexico, and South Africa are demonstrating strong economic growth and are expected to offer immense potential for EHR market mainly due to growing awareness among the population and increasing spending. 

Competitive Insights

Participants with significant electronic health record market share include GE Healthcare, Siemens Medical Solutions, MEDITECH, NextGen Healthcare, and McKesson Corp. 

These players frequently enter into licensing deals, mergers & acquisitions, and other strategic collaborations generally with the objective of expanding their product portfolio, which further augments the growth. For instance, practice management solutions and ambulatory EHR provider, e-MDs, was acquired by an investment firm, Marlin Equity Partners. Followed by this acquisition, it was merged with MDEverywhere and created a union for improvement in ambulatory care.

Key question answered by the report
  • What was the market size from 2013 to 2015?
  • What will be the market growth till 2024 and what will be the resultant market forecast in the year?
  • How will the market drivers, retraints and future opportunieties affect the market dynamics and a subsequent analysis of the associated trends?
  • What segment and region will drive or lead market growth and why?
  • A comprehensive mapping of the competitive landscape and the market participants behavior.
  • What are the key sustainability strategies adopted by market players? An in-depth analysis of these strategies and their impact on competition and growth.
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