Dublin, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The "Electronic Medical Records Global Market Opportunities and Strategies to 2031" report has been added to ResearchAndMarkets.com's offering.
The global electronic medical records market grew from $22,228.2 million in 2016 to $31,775.2 million in 2021 at a compound annual growth rate (CAGR) of 7.4%. The market is expected to grow from $31,775.2 million in 2021 to $44,179.6 million in 2026 at a CAGR of 6.8%, and to $65,936 million in 2031 at a CAGR of 8.3%.
The electronic medical records market is segmented by type into acute, ambulatory and post-acute. The acute market was the largest segment of the electronic medical records market segmented by type, accounting for 47.8% of the total in 2021. Going forward, the ambulatory market is expected to be the fastest growing segment in the electronic medical records market segmented by type, at a CAGR of 7.2% during 2021-2026.
The electronic medical records market is also segmented by product into client-server-based EHR and web-based EHR. The web-based EHR market was the largest segment of the electronic medical records market segmented by product, accounting for 55.2% of the total in 2021. Going forward, the web-based EHR market is expected to be the fastest growing segment in the electronic medical records market segmented by product, at a CAGR of 7.4% during 2021-2026.
The electronic medical records market is also segmented by mode of delivery into a cloud-based model and an on-premise model. The cloud-based model market was the largest segment of the electronic medical records market segmented by mode of delivery, accounting for 70.3% of the total in 2021. Going forward, the cloud-based model market is expected to be the fastest growing segment in the electronic medical records market segmented by mode of delivery, at a CAGR of 7.8% during 2021-2026.
The electronic medical records market is also segmented by business models into licensed software, technology resale, subscriptions, professional services, managed services and other business models. The professional services market was the largest segment of the electronic medical records market segmented by business models, accounting for 35.8% of the total in 2021. Going forward, the professional services market is expected to be the fastest growing segment in the electronic medical records market segmented by business models, at a CAGR of 8.0% during 2021-2026.
The electronic medical records market is also segmented by application into e-prescription, practice management, referral management, patient management, population health management and other applications. The practice management market was the largest segment of the electronic medical records market segmented by application, accounting for 30.3% of the total in 2021. Going forward, the e-prescription market is expected to be the fastest growing segment in the electronic medical records market segmented by application, at a CAGR of 8.0% during 2021-2026.
North America was the largest region in the electronic medical records market, accounting for 39.1% of the total in 2021. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the electronic medical records market will be Asia Pacific and South America, where growth will be at CAGRs of 8.4% and 8.4% respectively. These will be followed by the Middle East and Western Europe, where the markets are expected to grow at CAGRs of 7.1% and 6.9% respectively.
The global electronic medical records market is highly fragmented, with a large number of players. The top ten competitors in the market made up to 7.4% of the total market in 2021. Cerner Corporation was the largest competitor with 1.81% share of the market, followed by Allscripts Healthcare Solutions, Inc with 1.46%, General Electric Company with 0.93%, Athenahealth with 0.65%, NextGen Healthcare, Inc with 0.61%, Epic Systems Corp with 0.60%, eClinicalWorks with 0.57%, CPSI with 0.45%, Intersystems Corporation with 0.22% and AdvancedMD, Inc with 0.11%.
The top opportunities in the electronic medical records market by type will arise in the acute segment, which will gain $5,706.8 million of global annual sales by 2026. The top opportunities in the electronic medical records market by product will arise in the web-based EHR segment, which will gain $7,516.8 million of global annual sales by 2026.
The top opportunities in the electronic medical records market by mode of delivery will arise in the cloud-based model segment, which will gain $10,141.6 million of global annual sales by 2026. The top opportunities in the electronic medical records market by business models will arise in the professional services segment, which will gain $5,335.3 million of global annual sales by 2026.
The top opportunities in the electronic medical records market by application will arise in the practice management segment, which will gain $3,521.8 million of global annual sales by 2026. The electronic medical records market size will gain the most in the USA at $4,139.9 million.
Market-trend-based strategies for the electronic medical records market include focus on use of artificial intelligence, focus on adoption of Natural Language Processing technology, focus on voice assistance technology, focus on adoption of cloud-based EHRs (Electronic Health Records), focus on strategic partnerships and focus on increasing investments and mergers and acquisitions.
Player-adopted strategies in the electronic medical records market include focusing on improving patient and provider experience, and clinical and business outcomes through new product launches, focusing on offering innovative healthcare IT solutions through collaborations and partnerships, focusing on enhancing business activities through technological advancements and focusing on strengthening business operations through product upgradations.
To take advantage of the opportunities, the publisher recommends the companies in the electronic medical records market to focus on use of artificial intelligence, focus on natural language processing, focus on cloud-based EHRs (electronic health records), focus on voice assistance, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, offer competitive pricing, participate in trade shows and events and continue to target fast-growing applications.
Key Metrics
Report Attribute | Details |
No. of Pages | 316 |
Forecast Period | 2021 - 2031 |
Estimated Market Value (USD) in 2021 | $31775.2 Million |
Forecasted Market Value (USD) by 2031 | $65936 Million |
Compound Annual Growth Rate | 7.6% |
Regions Covered | Global |
Company Profiles
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc
- General Electric Company (GE)
- Athenahealth, Inc.
- NextGen Healthcare, Inc
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Electronic Medical Records Market Definition and Segmentations
6.4. Market Segmentation By Type
6.4.1. Acute
6.4.2. Ambulatory
6.4.3. Post-Acute
6.5. Market Segmentation By Product
6.5.1. Client-Server-Based EHR
6.5.2. Web-Based EHR
6.6. Market Segmentation By Mode Of Delivery
6.6.1. Cloud-Based Model
6.6.2. On-Premise Model
6.7. Market Segmentation By Business Models
6.7.1. Licensed Software
6.7.2. Technology Resale
6.7.3. Subscriptions
6.7.4. Professional Services
6.7.5. Managed Services
6.7.6. Other Business Models
6.8. Market Segmentation By Application
6.8.1. E-Prescription
6.8.2. Practice Management
6.8.3. Referral Management
6.8.4. Patient Management
6.8.5. Population Health Management
6.8.6. Other Applications
7. Major Market Trends
7.1. Use Of Artificial Intelligence
7.2. Adoption Of Natural Language Processing
7.3. Focus On Voice Assistance
7.4. Adoption Of Cloud-Based EHRs
7.5. Strategic Partnerships
7.6. Investments And Mergers And Acquisitions
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.2.2. Market Restraints 2016 - 2021
8.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.3.1. Market Drivers 2021 - 2026
8.3.2. Market Restraints 2021 - 2026
For more information about this report visit https://www.researchandmarkets.com/r/pl5vf7
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