Electronics Health Records Market To Reach USD 53.5 Billion By 2032 CAGR: 5.5%. Report By DataHorizzon Research

Fort Collins, Colorado, Oct. 01, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Electronic Health Records Market Size, Growth, Share, Statistics Report, By Product (Client Server Based & Web Based), By Type (Acute, Post Ambulatory y, Post-acute), By End-use (Hospital & Ambulatory), By Business Models (Licensed Software, Technology Resale, Subscription, Professional Services, Others), By Region, And Segment Forecasts, 2023-2032."       

According to DataHorizzon Research, The electronic health records market was valued at USD 31.7 Billion in 2022 and is expected to reach USD 53.5 Billion by 2032 with a CAGR of 5.5%. The report comprehensively analyzes the market conditions at global and regional levels in the healthcare and clinical sectors. It also highlights the collaborative strategies between key players and their overall impact on the global market.

Implementing electronic health records (EHR) helps in exchanging health information electronically and provides accurate, up-to-date information that helps deliver better and more managed care for patients along with a safer and more reliable prescription. Also, it reduces the paperwork and encourages the use of digital data, which drives the market for EHR. Moreover, it can cut administrative costs, including the need for transcriptions, physical charts, storage, and claims, thus reducing the turnaround time for hard copy communication between labs, pharmacies, and insurance providers.

EHR enhances the privacy and security of medical records over traditional paperwork. Also, it preserves the legit and complete documentation for streamlined coding and billing. With the implementation of EHR, the databases have helped improve patient and provider interaction along with healthcare convenience.

The introduction of big data in healthcare is helping the market to grow further. The continuous data collection of the patients allows the healthcare providers to address the prevailing and expected upcoming health issues, such as the chances of flu or pandemics. This helps the government to prepare for the upcoming conditions in a preventive way. Health records are also turning digital, increasing government and corporate investments. Besides, the emphasis on strong and dedicated IT infrastructure is helping to fasten the deployment of electronic health records. 

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Report Snapshot:

Electronics Health Records Market Report Highlights:

• The global electronic health records market size is anticipated to grow to USD 53.5 billion at a CAGR of 5.5% by 2032.

• The electronic health records market growth is highly anticipated due to the growing need for digital systems to collect, sort, and analyze patient data. In addition, the digitization of clinical records is paramount to the healthcare industry based on the massive data generation in the clinical industry.

• The hospital segment accounted for a larger share in 2022 based on end-use. EHRs are widely deployed in hospitals for better patient clinical records access.

• By end-use, the acute care segment is dominant due to rapid access to clinical data during emergencies.

• North America has a large footprint in the global market and is anticipated to grow higher in the forthcoming years, mainly due to the dominance of digital mediums across the healthcare infrastructure.

• Some prominent players in the electronic health records market report include Cerner Corporation (Oracle), GE Healthcare, Allscripts Healthcare, McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, Inc. (McAfee), eClinicalWorks, Medical Information Technology, Health Information Management Systems, CPSI, Broadcom, and Greenway Health. 

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Key Developments in the Industry:

• In April 2023, Saint Joseph’s Medical Center, located in Austin, Texas, extended Oracle’s Health Electronic Record (EHR) and patient accounting throughout all its locations. With the deployment, the facility intends to consolidate the systems to make patient records consistent and accessible throughout the hospital and ambulatory care facilities.

• In Aug 2023, the Royal Flying Doctor Service (RFDS) Australia-based remote health services provider launched electronic health records powered by Oracle Cloud Infrastructure and Oracle Autonomous Database to simplify clinical data collection and analysis to support faster decision-making in the clinical staff. 

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Electronic Health Records Market Report Segmentation:

Electronic Health Records Market, By Product (2023-2032)

• Client Server Based
• Web Based

Electronic Health Records Market, By Type (2023-2032)

• Acute
• Post Ambulatory

Electronic Health Records Market, By End-use (2023-2032)

• Hospital
• Ambulatory

Electronic Health Records Market, By Business Models (2023-2032)

• Licensed Software
• TECHNOLOGY RESALE
• Subscription
• Professional Services
• Others

Electronic Health Records Market, By Region (2023-2032)

• North America
  • U.S.
  • Canada

• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America
  • Brazil
  • Mexico
  • Rest Latin America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa 

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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