The global electronic health records market size is expected to reach USD 38.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2022 to 2030. The web-based electronic health records (EHRs) are anticipated to show the largest growth during the forecast period. These EHRs are convenient for use in pharmacies, small-scaled laboratories, and clinics, as they require limited hardware infrastructure, which reduces the cost of installation.
EHR vendors and organizations have initiated to help in curbing the pandemic by making telehealth a mainstream alternative, enhancing data access through EHRs, and collaborating to develop COVID-19 dashboards in detail. The introduction of EHRs for medical coding and billing has eased the process as data entering into computerized systems is more convenient than paper-based methods. EHRs also minimize the risk of errors in patient data as well as financial details. As per the University of Michigan, the cost of outpatient care was reduced by 3% upon shifting to EHRs from paper-based records. This reduction resulted in USD 5.14 savings per patient per month.
Additionally, M&A activities by market players are also boosting the market growth. For instance, in February 2021, Evident, LLC, a subsidiary of CPSI announced that Texas-based Curahealth Hospitals and Cobalt Rehabilitation, have selected the Evident EHR along with collection services TruBridge, for three new rehabilitation facilities located in Denver, Colorado; West Houston, Texas; and San Antonio, Texas. Key players in the EHR market are investing in the launch of new products and collaborations for sustaining in the market. For instance, in August 2020, Cerner Corporation collaborated with Amazon to integrate its EHR solutions with the latter’s wearables such as Amazon Halo. This would provide greater interoperability to its customers and strengthen its service portfolio.
Request a free sample copy or view report summary: Electronic Health Records Market Report
The web-based EHR segment dominated the overall revenues share as of 2021 and is projected to witness a CAGR of over 4.6% from 2022 to 2030. A high adoption rate by physicians is expected to boost the market growth
The ambulatory use segment which includes physician clinics, laboratories, and pharmacies is expected to exhibit the fastest growth over the forecast period owing to the increasing number of ambulatory care centers globally
The acute care segment held a considerable market share of about 46.8% in the market due to government initiatives for the adoption of EHRs
North America held a major market share as of 2021, due to the presence of well-established healthcare infrastructure as well as favorable government initiatives regarding population health management
The U.S. is dominating the market in North America due to the presence of established players in the country
The industry participants are focusing on product launch, partnerships, collaborations, mergers, and acquisitions to sustain the competition
In Asia Pacific, the market is anticipated to witness lucrative growth of around 6.9% owing to the developing healthcare infrastructure in Asian countries, such as Indonesia, China, and India
Grand View Research has segmented the global electronic health records market on the basis of product, type, end-use, business models, and region:
EHR Product Outlook (Revenue, USD Million, 2017 - 2030)
EHR Type Outlook (Revenue, USD Million, 2017 - 2030)
EHR End-use Outlook (Revenue, USD Million, 2017 - 2030)
EHR Business Models Outlook (Revenue, USD Million, 2017 - 2030)
EHR Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East & Africa
List of Key Players of Electronic Health Records (EHR) Market
Cerner Corporation (Oracle)
Allscripts Healthcare, LLC
Epic Systems Corporation
NextGen Healthcare, Inc.
Medical Information Technology, Inc.
Health Information Management Systems
Greenway Health, LLC
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."