Electronic Health Records (EHR) Market to Reach USD 47.8 Billion by 2032; Increasing Use of EHR in Clinical Applications to Propel Growth

Electronic health records (EHR) market size from USD 30.8 billion in 2022 to USD 47.8 billion in 10 years. The advancement in healthcare sector drive the market's growth. The popularity of web-based EHRs among smaller-scale healthcare providers, such as physicians, is responsible for their substantial market share.

Newark, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 30.8 billion electronic health records (EHR) market will reach USD 47.8 billion by 2032. Electronic health records (EHR) or electronic medical records (EMR) refer to the digital exchange of patient data via on-premises or cloud-based platforms. These are safe, transportable records that can significantly improve the standard of care that physicians give their patients. It includes all information related to a patient's medical history, such as diagnosis, prescriptions, dates of immunisations, radiological imaging, treatment plans, and laboratory test results. Because access to evidence-based tools for improved decision support for a patient's treatment plan is made possible by implementing electronic health records (EHRs), the workflow in a medical setting has become more automated and efficient. One of the main growth-driving elements of the EHR solution is its growing adoption because of its growing uses in the medical systems.

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Key Insights on

North America to account for the largest market size during the forecast period.

North America is expected to have the essential electronic health records (EHR) market share. The healthcare sector in North America has a greater adoption rate of cutting-edge digital technologies, which has driven market expansion in this area. Furthermore, the widespread adoption of electronic health records in North America is aided by strong healthcare infrastructure and well-established IT and telecommunication infrastructure.

The web-based EHR segment dominated the market with the most significant revenue of USD 18.1 billion.

The web-based EHR segment dominated the market with the most significant revenue of USD 18.1 billion. The segment has grown owing to the increasing acceptance and popularity of web-based electronic health records among physicians and other small-scale healthcare practitioners worldwide. They are in more demand because web-based electronic health records may be customised and changed to meet specific needs.

The acute segment dominated the market with the most significant revenue of USD 12.6 billion.

The acute segment dominated the market with the most significant revenue of USD 12.6 billion. The expansion of this segment has been greatly aided by the rising government measures to force small healthcare providers to embrace electronic health records.

The hospital use segment dominated the market with the most significant revenue of USD 16.9 billion.

The hospital use segment dominated the market with the most significant revenue of USD 16.9 billion. The segment is expected to grow owing to the rise in hospital admissions, which produces enormous volumes of data. Electronic health record systems are ideal for meeting the need for safe data storage. The growing number of private hospitals worldwide is anticipated to fuel this segment's expansion even more throughout the forecast period.

Market Dynamics:

Drivers: Increased demand from healthcare sector

The market for electronic health records is also expected to be driven by rising demands for healthcare administration that are more centralised and streamlined. The goal of a value-based approach that drives the centralisation of health information management is to save costs, streamline operations, standardise procedures, and enhance the quality of service that leads to patient satisfaction.

Restraint: High cost of implementation

Even though EHRs are becoming more and more common in administrative and clinical contexts, a few factors impede more individuals from implementing them. One of the primary factors preventing the market's expansion is the high cost of EHR setup and maintenance. The adoption of electronic health records is hindered in numerous emerging economies due to their high cost. The requirement for more support for healthcare IT in many developing countries is another important factor impeding industry progress.

Opportunity: Government incentives

Government programmes to promote the use of IT in healthcare are the main factors driving this market. In Australia, for example, the national digital health record platform is called My Health Record. Except in cases where they have indicated otherwise, every Australian citizen has a "My Health Record". According to the organisation, all healthcare practitioners in the nation will have access to and be able to contribute to the platform's healthcare information by the end of 2022. Furthermore, the use of technologically sophisticated healthcare services is anticipated to propel the growth of the electronic health record (EHR) market.

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Some of the major players operating in the electronic health records (EHR) market are:

● Cerner Corporation
● CureMD Corporation
● Epic systems corporation,
● Greenway Health, LLC.
● Praxis EMR
● Allscripts healthcare solutions Inc.
● Computer program and systems Inc.
● eClinicalWorks
● General Electric Company
● Meditech

Key Segments cover in the market:

By Product:

● Web-based EHR
● Client-server-based EHR

By Type:

● Ambulatory
● Post-acute
● Acute

By End-User:

● Ambulatory Use
● Hospital Use

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About the report:

The global electronic health records (EHR) market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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