The global electronic health records market size was estimated at USD 29.06 billion in 2023 and it is anticipated to grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2030. Government initiatives to encourage healthcare IT usage is a key driver to this market. For instance, My Health Record is a national digital health record platform in Australia. Every Australian citizen has a “My Health Record” unless they have chosen that they don’t want it. 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 also expected to drive electronic health record (EHR) market growth.
The spread of COVID-19 has put a lot of pressure on healthcare organizations since the beginning of 2020. The pandemic has negatively impacted the revenue of major market players due to a decline in new business bookings as certain client purchasing decisions and projects were delayed to focus on treating patients, procuring necessary medical supplies, and managing their organizations through this crisis. Also, companies such as Allscripts experienced delays in deals with upfront software revenue and professional services implementations across their outpatient and inpatient bases.
New expansion activities, product approvals, product launches, partnerships, and acquisitions have positively impacted the EHR market in recent years. Furthermore, there has been a significant increase in the demand for electronic health records due to the growing digitalization which in turn is fueling the market growth.
Rising demand for centralization & streamlining of healthcare administration is also anticipated to drive the market growth. Centralization of health information management is driven by a value-based model which aims towards streamlining operations, standardizing processes, reduction of costs, and improving the quality of care that results in patient satisfaction.
Additionally, an increasing number of mergers & acquisitions by market players are also boosting the market growth. For instance, in January 2021, Allscripts Healthcare Solutions announced a strategic partnership with the U.S Orthopedic Alliance (USOA). This partnership is aimed at bringing efficient infrastructure designed to assist orthopedic practices scale with agility, improving EHR implementation timelines, providing evidence-based guidelines to support evolving clinical protocols, and creating community-wide connectivity with value-based care analytics.
New Product Launches: Market players in the electronic health records industry are launching new products to expand their reach and increase availability in different regions. For instance, in March 2022, GE Healthcare launched its Edison Digital Health Platform in to help healthcare providers accelerate their digital transformation and meet the growing demand for electronic health records. This shows how companies are investing in new technology to provide better healthcare services to their clients.
Level of M&A Activities: Mergers and acquisitions in the electronic health records (EHR) market are increasing, with several companies acquiring smaller players to strengthen their market position, expand product portfolios, and improve competencies. For instance, in September 2023, Thoma Bravo acquired NextGen Healthcare, Inc., a leading EHR systems manufacturer, to expand its capabilities in the market.
Impact of regulation: Regulations for EHR are evolving globally, with strong government support through regulatory reforms favoring market growth. In Europe, government bodies are driving the development and implementation of EHR in healthcare facilities. In the US, the HITECH Act established the Medicare and Medicaid EHR Incentive Programs to incentivize healthcare providers to adopt and use certified EHR technology.
Geographical Expansion:Several market players are involved in geographical expansion to enhance capabilities and have a direct presence in countries having high demand. For instance, in June 2021, Greenway Health, LLC expanded its geographical presence by opening its new office in Bengaluru, India. The company aims toward rapid product and software execution, revenue growth, and client success, through this expansion activity.
The web-based EHR segment led the market and accounted for more than 55% share of the global revenue in 2023. This market share is attributed to their popularity amongst the physicians and healthcare providers, which operate on a smaller scale. This is because web-based EHRs can be installed without the requirement of in-house servers and can also offer extensive customizations & improvements, as per need.
The client server-based EHR segment is anticipated to show significant growth over the forecast period. Client-server-based EHRs provides a safer alternative for users as it offers in-house data storage, hence preventing data theft. These can also be customized as per customer requirements and also are a favorable option in the case of multi-physician facilities. Furthermore, they do not require a stable internet connection as compared to web-based EHRs, which further drives the market growth.
Based on type, the market is classified into acute EHR, ambulatory EHR, and post-acute EHR. The acute EHR segment held the largest market share in 2023. 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.
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 market growth. Easy usage as compared to the inpatient EHRs is expected to drive the market growth. These EHRs deal with a single practice and its patient, instead of a complex web of hospital departments.
Post-acute EHRs are mainly used for providing rehabilitation services that 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. Rising spending on post-acute care facilities is anticipated to boost the market growth.
Based on end-use, the market is classified into hospitals and ambulatory care. The hospitals' segment held the largest market share in 2023. The growth can be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation in EHRs is less in hospitals as compared to ambulatory care centers, which also boosts the market growth.
The market for Electronic Health Records (EHR) in ambulatory surgical centers is expanding, with an increasing number of facilities adopting this technology. A survey conducted by the Ambulatory Surgery Center Association in 2021 found that 54.6% of respondents reported using an EHR in ASCs. Additionally, the majority of physician-owned ASCs (62.2%) have implemented an EHR, with new facilities more likely to adopt this technology from the start.
Based on the business model, the market is classified into licensed software, technology resale, subscriptions, professional services, and others. The professional services segment held the largest market share of in 2023. Professional services help healthcare systems in the implementation of information systems in their organizations. They are usually in the form of project management, technical & application expertise, clinical process optimization, regulatory consulting, and training of end-users for designing & implementing EHR systems.
Within the technology resale segment, licensed software is bundled with IPs of other companies in the form of sublicenses for creating complete technology solutions for healthcare systems. Licensed software includes application software, architecture, executable & referential knowledge, and data & algorithms. Other business models include managed services, support & maintenance, and other such services.
North America dominated the market, accounting for about 43.76% share of global revenue in 2023. The major factor contributing to the growth of this region is the policies that support the adoption of electronic health records & the availability of infrastructure with high digital literacy. Furthermore, favorable government regulations and acts for monitoring the safety of healthcare IT solutions are expected to fuel the electronic health record market in U.S. For instance, in May 2020, the federal government proposed the Federal Health IT Strategic Plan 2020-2025, which mandates meaningful usage of EHR by healthcare providers.
Competition in the EHR market in the U.S. is driven by several factors, including growing demand for improved healthcare technology, regulatory requirements, and the rising need for interoperability between different EHR systems. Many companies offer EHR systems in the U.S., including large established companies such as Epic Systems, NextGen Healthcare, eClinicalWorks, Cerner Corporation, and Allscripts. These companies compete on factors such as system functionality, ease of use, cost, and customer support.
Asia Pacific is anticipated to demonstrate lucrative growth during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards & services which is boosting the digitalization of healthcare in the region. The Ministry of Health in China has defined an action plan for the usage of services related to e-health across the country encompassing broad areas of medical services, insurance plans, and with a large focus on the adoption of electronic record, systems to allow data sharing across the national healthcare system.
Europe electronic health record accounted for second largest market share in 2023, owing to the presence of developed economies expected to fuel the EHR market in Europe during the forecast period. The Digital Single Market Strategy by the European Commission furnishes consumers and businesses with access to online services and goods across Europe, thus providing necessary conditions for the growth of the digital network and allied services, which is expected to maximize growth potential of the European economy.
The market leaders are involved in, expansions, product launches, partnerships & collaborations, and mergers & acquisitions to sustain the competition. Established organizations and small players are investing in mergers & acquisitions to gain a competitive edge. For instance, in August 2023, WellSky acquired Experience Care, a technology company offering EHR software solutions for long-term care and post-acute providers. Experience Care's electronic health record platform, NetSolutions, has served 150 long-term care clients with 850 facilities. The acquisition will help providers increase efficiencies, improve performance, and advance resident care by turning data into meaningful information.
In July 2023, NextGen Healthcare announced the expansion of its collaboration with the American Podiatric Medical Association (APMA). As per this collaboration, the ‘NextGen Office’ cloud-based small practice EHR and practice management solution is the sole platform to incorporate blueprints exclusively developed with APMA. These podiatry blueprints address several issues, including diabetes, dermatitis, infection, and injuries.
In June 2023, CPSI and the MidCoast Health System expanded their four-year partnership, through the implementation of CPSI’s EHR, accounts receivables services, and IT-managed services at the ‘Crockett Medical Center’ critical access hospital in Texas. Other MidCoast Health System hospitals to successfully implement CPSI healthcare solutions in recent years include the El Campo Memorial Hospital and the Palacios Community Medical Center, among others.
In May 2023, MEDITECH announced an agreement with Canada Health Infoway to connect with the latter’s e-prescribing service ‘PrescribeIT’. This agreement would allow prescribers in Canada to electronically transmit a prescription directly from MEDITECH’s Expanse EHR to the patient’s preferred choice of pharmacy. The functionality would allow ease of creation of new prescriptions, allow existing prescription renewal, and also cancel prescription requests.
In April 2023, Microsoft announced an expansion of its strategic partnership with Epic for the development and integration of generative AI into healthcare, through the combination of Epic’s advanced electronic health record software and the scale of Microsoft’s Azure OpenAI Service. The resulting generative AI solutions would help enhance patient care, increase productivity, and improve the financial integrity of health systems worldwide.
In February 2023, King’s College Hospital London - Dubai announced a strategic partnership with Oracle Cerner to accelerate innovation, through the utilization of Oracle Cloud Infrastructure (OCI) services via the Oracle Cloud Dubai Region for operating and managing the upgraded and enhanced electronic medical records system for KCH Dubai.
In February 2023, Oracle Cerner announced that the province of Nova Scotia, in partnership with Nova Scotia Health Authority (NSHA) and IWK Health (IWK), had signed a 10-year agreement for implementing an integrated electronic care record in the entire province. Known in Nova Scotia as “One Person One Record”, it is intended to provide clinicians easier access to real-time health information and allow healthcare workers to spend more time with their patients.
In January 2023, Veradigm (formerly Allscripts) announced that the Veradigm Network EHR Data would be available within the OMOP CDM format. Veradigm Network EHR is a complete statistically de-identified dataset with three integrated EHR sources. This transformation is expected to facilitate data sales for clients who require it to be delivered in OMOP format.
In January 2022, Health Information Management Systems, launched AxiaGram, a mobile communication care app, which can seamlessly work with an existing EHR platform. The company expanded its product portfolio with this.
In May 2022, CPSI entered into a partnership agreement with Medicomp Systems to launch Quippe Clinical Lens. The new technology aims to empower EHR users with proper access to clinical information at PoC.
Report Attribute |
Details |
The market size value in 2023 |
USD 29.06 billion |
Revenue forecast in 2030 |
USD 38.5 billion |
Growth Rate |
CAGR of 4.1% from 2024 To 2030 |
Actual estimates |
2018 - 2023 |
Forecast period |
2024 - 2030 |
Quantitative units |
Revenue in USD million/billion & CAGR from 2024 To 2030 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product, type, end use, business models, application |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country Scope |
U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, Denmark, Norway, Japan, China, India, Australia, South Korea, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Kuwait |
Key companies profiled |
Cerner Corporation (Oracle),GE Healthcare, Veradigm LLC (Allscripts Healthcare, LLC), Epic Systems Corporation, eClinicalWorks, Greenway Health, LLC, NextGen Healthcare, Inc., Medical Information Technology, Inc. (Meditech), Health Information Management Systems, CPSI, AdvancedMD, Inc., CureMD Healthcare, McKesson Corporation |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global electronic health records (EHR) market report on the basis of product, type, end use, business models, application and region:
Product Outlook (Revenue, USD Million; 2018 - 2030)
Client Server-Based EHR
Web-Based EHR
Type Outlook (Revenue, USD Million; 2018 - 2030)
Acute
Ambulatory
Post-Acute
End Use Outlook (Revenue, USD Million; 2018 - 2030)
Hospital Use
Ambulatory Use
Physician’s Clinic
Laboratories
Pharmacy
Business Models Outlook (Revenue, USD Million; 2018 - 2030)
Licensed Software
Technology Resale
Subscriptions
Professional Services
Others
Application Outlook (Revenue, USD Million; 2018 - 2030)
Cardiology
Neurology
Radiology
Oncology
Others
Regional Outlook (Revenue, USD Million; 2018 - 2030)
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Sweden
Denmark
Norway
Asia Pacific
Japan
China
India
Australia
South Korea
Thailand
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Kuwait
b. The global electronic health records market size was estimated at USD 28.1 billion in 2022 and is expected to reach USD 29.0 billion in 2023.
b. The global electronic health records market is expected to grow at a compound annual growth rate of 4.1% from 2023 to 2030 to reach USD 38.5 billion by 2030.
b. The web-based electronic health records segment led the global market in 2022.
b. The acute type segment dominated the global electronic health records market with a share of over 45% in 2022.
b. The professional services segment dominated the global electronic health records market with over 31% share in 2022.
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