The global electronic health records market is foreseen to witness a
laudable growth in the coming years of forecast period from 2017 to
2025, owing to rise in digitalization all across the globe.
Athenahealth, Inc., Allscripts Healthcare Solutions, Inc., Cerner
Corporation, eClinicalWorks, CPSI, Epic Systems, GE Healthcare,
Medical Information Technology, Inc., Greenway Health, LLC, McKesson
Corporation, 4medica, and NextGen Healthcare are among the leading
organizations dominating the global market. The global electronic
health records market is highly focused due to emergence of
well-known players in the market.
In this market, the key players are reliably putting resources into
research to create advanced healthcare IT solutions. The established
vendors are continuously dealing with solid competition from the new
firms that are able to provide cloud-based electronic health records
systems. The competition between the players is anticipated to
heighten with increase in mergers and acquisitions and the
consolidation of the market.
According to Transparency Market Research (TMR), global electronic
health records market is expected to flourish decently with a CAGR of
5.7% within the period from 2017 to 2025. In year 2016, the market
was evaluated to be around worth US$23.22 bn. This figure is expected
to reach somewhere around US$38.29 bn by the end of 2025. Based on
installation, the global electronic health records market is
dominated by SaaS (software as a service) segment among the medical
practitioners, due to its ability to reduce technical faults and low
front-end expenses.
However, web-based electronic health records segment is preferred
owing to its low deployment cost. Geographically, Asia Pacific and
Europe are the key regions in terms of revenue contributors in the
global market. Due to Rise in old age people, rise in pressure of
restriction on healthcare expenses, requirement of remote monitoring,
and increased need of patients care are propelling factor in the
growth of these regions.
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Noteworthy benefits related with electronic health records system and
monetary incentives by governments of different nations are among the
major driving factor for the development of electronic health records
market, around the world. Advantages of electronic health records
frameworks incorporate updated patient data, decreased healthcare
cost in the long term cases, easy access to data related with the
patient – may it be their medical history or their family details,
diminished medicinal mistakes, expanded patient support and better
effectiveness of healthcare providers. These points of interest urge
healthcare suppliers to train themselves with technologically
upgraded electronic health records solutions, which drive the market
demand.
The rising prominence of e-medicine is one of the key reason driving
the development of this market. Electronic remedy or eRX encourages
the transformation of medicinal prescription into a digital format,
which can be saved in EHR systems, without any inconvenience. E-
Prescription lessens the pharmaceutical blunders and guarantee the
wellbeing of the patients. Moreover, as e-solutions can be accessed
to through cell phones utilizing mobile apps. Additionally, they help
patients in looking for drug stores to buy the recommended medicines.
The comfort related with e-medicines will prompt the growth of
electronic health records market in coming years, real soon.
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