Electronic Health Records Market Size, Share & Trends Report

Electronic Health Records Market Size, Share & Trends Analysis Report By Type (Acute, Post-acute), By Product (Web-based, Client Server-based), By End Use (Ambulatory, Hospital), And Segment Forecasts, 2020 - 2027

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-394-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 154

Report Overview

The global electronic health records market size was valued at USD 27.67 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% during the forecast period. Government initiatives to encourage healthcare IT usage is the key driver of the electronic health records (EHR) market. For instance, My Health Record, a national digital health record platform in Australia, ensures that the majority of citizens have a “My Health Record”. The agency claims that by the end of 2022, all healthcare providers in the country will be able to contribute to and use healthcare information available on the platform. Moreover, the introduction of technologically advanced healthcare services is expected to drive the market further.

The U.S. electronic health records market size, by end use, 2016 - 2027 (USD Billion)

Rising demand for centralization & streamlining of healthcare administration is also anticipated to boost the EHR market growth. Centralization of health information management is driven by a value-based model, which aims at streamlining operations, standardizing processes, reduction of costs, and improving quality of care that results in patient satisfaction. In addition, increasing M&A activities are projected to fuel market growth. For instance, in March 2019, Allscripts Healthcare LLC acquired Pulse8, Inc., a healthcare analytics company.

Through this, Allscripts broadened its service offerings by including Pulse8’s business intelligence software solutions. The Covid-19 pandemic has put a lot of pressure on healthcare organizations since the beginning of 2020. However, the use of clinician EHRs has proven to be instrumental to overcome this challenge. EHR communities have assisted in constructing field hospitals to wiring EHRs without any cost to decrease hospital populations. They have put together surge capacity recommendations for helping healthcare providers to prepare for the hike in patient numbers.

Thus EHR community has widened its impact to more than the only implementation of EHR during the pandemic. Regional expansion activities, product approvals, product launches, partnerships, and acquisitions have positively impacted the global market in recent years. Furthermore, there has been a significant increase in product demand due to the growing digitalization, especially in the developing economies, which, in turn, is fueling the overall market growth.

Product Insights

The web-based EHR segment led the market and accounted for more than 50% of the global revenue share in 2019. The segment is projected to expand further at the fastest CAGR retaining its dominant position in the market during the forecast period. This growth is attributed to the growing popularity of web-based EHRs among physicians and healthcare providers, which operate on a smaller scale. These products can be installed without the requirement of in-house servers and can also offer extensive customizations & improvements, as per need thereby ensuring the scalability of web-based services

The client server-based EHR segment is anticipated to show significant growth over the forecast period. These products provide a safer alternative for users as they offer in-house data storage, hence preventing data theft. These can also be customized as per customer requirements and are a favorable option in the case of multi-physician facilities. Furthermore, they do not require a stable internet connection, which also drives their demand.

End-use Insights

The hospital segment held the largest market share of more than 61% in 2019 and is estimated to retain its leading position during the forecast years. The growth can be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation of EHRs is less in hospitals as compared to ambulatory care centers, which also boosts the market growth.

On the other hand, the ambulatory use EHR segment is estimated to record the fastest CAGR from 2020 to 2027. The rising number of ambulatory care centers across the globe is expected to drive the segment growth. Ambulatory care centers provide convenience to the patients as well as healthcare providers. Large-scale ambulatory care centers have a higher adoption rate of EHRs as compared to the small-scale ones.

Type Insights

The acute EHR segment held the largest market share of over 47.0% in 2019. The growth can be attributed to the government initiatives for the adoption of EHRs in small-scale facilities. For instance, acute care hospitals in the U.S., which are covered under the Inpatient Prospective Payment System (IPPS) are eligible for the Medicare incentive payment system.

Global electronic health records market share, by type, 2019 (%)

The post-acute EHRs segment is projected to register the fastest CAGR from 2020 to 2027 due to rising spending on post-acute care facilities. These EHRs are mainly used for providing rehabilitation services, which patients receive after a stay in an acute care hospital. Post-acute care facilities consist of inpatient rehabilitation centers & hospitals, home health agencies, and long-term care hospitals.

Ambulatory EHRs are meant for use in outpatient care facilities and small practices. Government support for the adoption of ambulatory EHRs, especially during the Covid-19 pandemic, is expected to boost the market growth. Easy usage as compared to the inpatient EHRs is expected to drive the growth of this segment. These EHRs deal with a single practice and its patient, instead of a complex web of hospital departments.

Regional Insights

North America led the global market and accounted for the largest revenue share of more than 47% in 2019. The major factor contributing to the growth includes favorable policies that support the adoption of electronic health records & the availability of infrastructure with high digital literacy. In May 2020, the federal government proposed the Federal Health IT Strategic Plan 2020-2025 that mandates the meaningful usage of EHR by healthcare providers.

Asia Pacific region is anticipated to register the fastest growth rate during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards and services, which is boosting the digitalization of healthcare in the region. The Ministry of Health in China has defined an action plan for usage of services related to e-health across the country encompassing broad areas of medical services, insurance plans, and with a major focus on the adoption of electronic record systems to allow data sharing across the national healthcare system.

Key Companies & Market Share Insights

The market leaders are involved in product launches, collaborations, expansions, and acquisitions to sustain the competition. Established organizations as well as small-scale players are investing in product approvals to gain a competitive edge. For instance, in October 2020, Greenway Health, LLC launched its virtual care offerings called Greenway Telehealth.

This would add to the company’s portfolio and support its long-term remote care strategy. In March 2020, CureMD Healthcare launched a practice continuity plan for providers to treat their patients remotely during Covid-19. This would strengthen the company’s market position while helping businesses tackle Covid-19 through virtual care plans. Some of the key players operating in the global electronic health records market include:

  • Cerner Corp.

  • GE Healthcare

  • Allscripts Healthcare, LLC

  • McKesson Corporation

  • Epic Systems Corp.

  • NextGen Healthcare, Inc.

  • eClinicalWorks

  • Medical Information Technology, Inc.

  • HMS

  • CPSI

  • AdvancedMD, Inc.

  • DXC Technology Company

  • CureMD Healthcare

  • Greenway Health, LLC

Electronic Health Records Market Report Scope

Report Attribute

Details

The market size value in 2020

USD 29.15 Billion

Revenue forecast in 2027

USD 40.50 Billion

Growth Rate

CAGR of 4.8% from 2020 to 2027

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2019

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Product, type, end use, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; The Netherlands; Sweden; Russia; Japan; China; India; Australia; Singapore; Brazil; South Africa; Saudi Arabia

Key companies profiled

Cerner Corp.; GE Healthcare; Allscripts Healthcare, LLC; McKesson Corp.; Epic Systems Corp.; NextGen Healthcare, Inc.; eClinicalWorks; Medical Information Technology, Inc.; HMS; CPSI; AdvancedMD, Inc.; DXC Technology Company; CureMD Healthcare; Greenway Health, LLC

Customization scope

Free report customization (equivalent to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global electronic health records market report on the basis of product, type, end use, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • Client Server-based EHR

    • Web-based EHR

  • Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Acute

    • Ambulatory

    • Post-acute

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Hospital Use

    • Ambulatory Use

      • Physician’s Clinic

      • Laboratories

      • Pharmacy

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • The Netherlands

      • Sweden

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Singapore

    • Latin America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

Frequently Asked Questions About This Report

Pricing & Purchase Options

Service Guarantee

  • Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Confidentiality

    We are in compliance with GDPR & CCPR norms. All interactions are confidential.

  • GDPR.EU
  • Custom research service

    Design an exclusive study to serve your research needs.

  • 24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities