New York, NY, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Electronic Health Records Market by Product (Web-based Electronic Health Records, and Client Server-based Electronic Health Records), by Type (Ambulatory EHR, Acute EHR, and Post-acute EHR), and by End Users (Hospitals, Physicians, Pharmacies, and Ambulatory Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2026”. According to the report, global electronic health records market was valued at approximately USD 2542.00 million in 2017 and is expected to generate revenue of around USD 4019.00 million by end of 2026, growing at a CAGR of around 5.2% between 2018 and 2026.
Electronic health records (EHRs) are nothing but electronic medical records; these are a digital version of the paper charts that were previously available in the healthcare provider’s office. An EHR collects, develops, stores, and maintains all the health records electronically. In contrast with the traditional medical records of patients, whose functionality was tied by the stagnant nature of paper and data stored in a single format for data entry and recovery, the EHR is adaptable and flexible.
Browse through 72 Tables & 21 Figures spread over 110 Pages and in-depth TOC on”Global Electronic Health Records Market Size & Share 2017 Report: Industry Trends, Growth Overview and Forecast to 2026”.
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Notable advantages associated with EHR system and financial incentives by governments of various countries are amongst the major factors driving the growth of the electronic health records market, all over the world. In the U.S., around 90% of physicians are making use of electronic health records. As per research, the annual healthcare spending of the U.S. had reached around USD 2.9 trillion in 2011 which increased up to USD 3.5 trillion by 2015. According to NEHRS (National Electronic Health Records Survey) in 2015, around 78% of physicians registered using a Certified EHR system and 87% of physicians reported using an EHR system. These percentages are anticipated to increase in near future owing to growing technological developments and the advantages of EHR provided to doctors and patients.
Based on the product, the electronic health records market is segmented into web-based electronic health records and client server-based electronic health records. Owing to advantages such as low deployment costs and automatic data back-up, the web-based EHR system is more popular among medical professionals and is anticipated to hold significant market share during the forecast period. Whereas, the high installation fees for client server-based electronic health records system anticipates limiting the growth of the segment; however, since additional control and proper management on data and software is provided by the client-server based electronic health records system the segment anticipates having demand in the coming years.
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By type, the global electronic health records market is classified into ambulatory EHR, acute EHR, and post-acute EHR. Among which the acute EHR segment accounted for the largest market share owing to the facilities such as management of patient records in hospitals along with a compilation of reports from exterior medical facilities. Moreover, the policies such as IPPS (Inpatient Prospective Payment System) under which the acute care hospitals are eligible for Medicare incentive payments growth of segment is expected during the forecast period. The post-acute EHR segment is anticipated to grow at the highest CAGR over the forecast period.
By end user, the market is segmented as hospitals, physicians, pharmacies, and ambulatory centers. Among which hospitals segment contributed for the largest market share of global electronic health records Market.
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North America dominates the electronic health records market due to favorable government framework, high adoption of healthcare automation in patient care management, and diagnostics and monitoring automation applications. The U.S. expects to dominate the North America market, owing to high demand in clinical research activities, which is one of the important factors augmenting the demand for electronic health records market in the North America region. According to CDC, around 74.1% of office-based physicians had a certified electronic health record (EHR) system in 2014, as compared to 67.5% in 2013. Moreover, according to the study, the adoption of EHR has increased by 1% in 2017 as compared to September 2016 which was 67% of all providers reported using EHR.
Europe is the second largest regional market and is expected to show significant growth in the years to come due to increasing adoption of electronic health records by the medical professionals. Europe has a maximum focus on the issue of healthcare quality and efficiency. High geriatric population coupled with the increasing prevalence of chronic diseases such as diabetes and consuming a larger proportion of health care resources are factors contributing to the market growth. Electronic health records (EHRs), together with new analytics tools, serve an opportunity for pulling out information for the most effective results across large populations.
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The Asia Pacific and Latin America market is projected to have the highest CAGR during the forecast period. Market growth is particularly expected in Brazil, China, India, and other emerging countries where the market penetration of healthcare IT sector is anticipated to be highest. High unmet medical needs and increasing prevalence of chronic diseases has opened the door for electronic health records systems to provide enhanced and organized healthcare records. Moreover, management of large patient pool in the region will also fuel the market growth over the forecast period.
The Middle East and Africa hold the least growth in comparison to another region, due to lack of growth and adoption of healthcare IT being responsible for hindering the growth of the market.
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Some of the key players in electronic health records market include Allscripts, Cerner, MEDITECH, McKesson Corporation, NextGen Healthcare, and Epic Systems Corporation, which are some of the well-founded companies in the electronic health records market. In addition, some of the upcoming companies in the electronic health records market include Healthcare Management Systems, eClinicalWorks, CureMD Healthcare, and Healthland, among others. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio.
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This report segments the global electronic health records market as follows:
Global Electronic Health Records Market: Product Segment Analysis
- Web-based electronic health records
- Client server-based electronic health records
Global Electronic Health Records Market: Type Segment Analysis
- Ambulatory EHR
- Acute EHR
- Post-acute EHR
Global Electronic Health Records Market: End-user Segment Analysis
- Hospitals
- Physicians
- Pharmacies
- Ambulatory centers
Global Electronic Health Records Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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