Global Electronic Health Records Market Size To Worth USD 52.03 Billion By 2033 | CAGR of 5.06%
The Global Electronic Health Records Market Size was Valued at USD 31.76 Billion in 2023 and the Worldwide Electronic Health Records Market Size is Expected to Reach USD 52.03 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: 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, and Others key vendors.
New York, United States , April 18, 2024 (GLOBE NEWSWIRE) -- The Global Electronic Health Records Market Size is to Grow from USD 31.76 Billion in 2023 to USD 52.03 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.06% during the projected period.
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A patient's medical records stored digitally is called an electronic health record. The health record is developed, put together, and saved with the aid of an electronic health record (EHR). The need for modern healthcare facilities is driving the usage of EHRs by healthcare practitioners. Clinical record systems, lab, radiography, pharmacy, administrative tasks, and computerized physician order input are some of the essential elements of an EHR. In addition, the growing number of elderly individuals worldwide and the rising prevalence of different chronic diseases are two reasons driving the global market for electronic health records. These factors also contribute to an increase in the number of patients in hospitals and other healthcare facilities. The need to digitize healthcare systems and cut down on paperwork are driving growth in the worldwide market for electronic health records. Moreover, a few things prevent more people from implementing EHRs, despite the fact that they are becoming more and more prevalent in administrative and clinical settings. The high cost of electronic health records is impeding their implementation in many emerging economies. this factor restraints the growth of the EHR market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "*Global Electronic Health Records Market** Size, Share, and COVID-19 Impact Analysis, By Product (On-Premise Software, & Cloud Based Software), By Application (Clinical Application, Healthcare Financing, Others), By End User (Hospitals, Clinics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."*
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*The* *cloud-based software* *segment is expected to hold the largest share of the global electronic health records market during the predicted timeframe*.
On the basis of product, the global electronic health records market is divided into on-premise software, and cloud-based software. Among these, the cloud-based software segment is expected to hold the largest share of the global electronic health records market during the predicted timeframe. Within the realm of electronic health records, it is considered ground-breaking. Small clinical offices can more easily use web and cloud-based EHRs because they do not require additional software or hardware installs.
*The clinical application* *segment is expected to hold the largest share of the global electronic health records market during the forecast period*.
Based on the application, the global electronic health records market is divided into clinical application, healthcare financing, and others. Among these, the clinical application segment is expected to hold the largest share of the global electronic health records market during the forecast period. To put together a healthcare data storage system. Globally, more clinical trials are being carried out to enhance the safety and effectiveness of drugs and technology. Furthermore, it is projected that the category of administrative applications will grow steadily during the projection. The growing use of EHRs for administrative data storage is the cause of this growth.
*The hospital segment is expected to hold the largest share of the global electronic health records market during the estimated timeframe.*
On the basis of end user, the global electronic health records market is divided into hospitals, clinics. Among these, the hospital segment is expected to hold the largest share of the global electronic health records market during the estimated timeframe. The growth can be attributed to the significant amount of medical data generated in hospitals. Further bolstering the market's growth is the fact that hospitals have lower EHR installation costs than ambulatory care centers.
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*North America is anticipated to hold the largest share of the global electronic health records market over the predicted timeframe.*
North America is anticipated to hold the largest share of the global electronic health records market over the predicted timeframe. The primary forces behind this region's growth are policies that promote the use of electronic health records and the availability of infrastructure with a high degree of digital literacy. Furthermore, favourable government legislation and regulations that monitor the security of healthcare IT systems are expected to propel the U.S. market for electronic health records.
Throughout the projected period, Asia Pacific is anticipated to develop at the fastest rate. This growth is typically linked to the area's healthcare system becoming increasingly digitally integrated as a result of the rising demand for high quality and services. An action plan for the use of e-health services across the country has been established by China's Ministry of Health. It covers a wide range of medical services, insurance plans, and places a strong emphasis on the adoption of electronic record systems that enable data sharing across the nation's healthcare system.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Liver Cancer Drug Market include, 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 and others.
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*Recent Development*
· *In July 2023, *The American Podiatric Medical Association (APMA) and NextGen Healthcare have extended their partnership. As per the terms of this collaboration, the only cloud-based EHR and practice management system that makes use of blueprints made especially with APMA is "NextGen Office."
· *In April 2023, *the innovative EHR software from Epic and Microsoft's Azure OpenAI Service have combined to expand the two firms' strategic partnership, which is focused on creating and implementing generative AI in the healthcare industry.
*Market Segment*
This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Global Electronic Health Records Market based on the below-mentioned segments:
*Global Electronic Health Records Market, By Product*
· On-Premise Software
· Cloud Based Software
*Global Electronic Health Records Market, By Application*
· Clinical Application
· Healthcare Financing
· Others
*Global Electronic Health Records Market, By End User*
· Hospitals
· Clinics
*Global Electronic Health Records Market, By Region*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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