Electronic Medical Record Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software, Services), By Type (General EMR, Specialty EMR), Mode Of Delivery (Cloud-Based, On-Premise), And By Geography - Forecasts From 2020 To 2025

Published:  Jun 2021 Report Code: KSI061613500 Pages: 120

The global electronic medical record market is expected to grow at a CAGR of 9.13% over the forecast period to reach a total market size of US$20,880.859 million by 2025, increasing from US$12,360.489 million in 2019. The electronic medical record is a systematic collection of the patient electronically-stored health information in the digital format. Favorable government policies are expected to drive the growth of the market during the forecast period. Besides, increasing the use of mobile data coupled with the augmenting usage of cloud-based services will also propel the growth of the electronic medical record market over the forecast period. However, the high cost associated with it is anticipated to restrain the growth of the market in the coming years.

Favorable government initiative

Governments around the globe are supporting the adoption of IT solutions in the healthcare sector and thus making an electronic medical record an integral component of the whole process. The use of electronic medical records enables easy access to patient's and other stakeholder’s information in the whole healthcare system. Also, the government is taking initiative in the form of incentives and other programs to increase the adoption of electronic medical records which is expected to boost its adoption during the forecast period. For instance, in the United States, the Office of National Coordinator for Health Information Technology (ONC) works on health IT and is authorized by the Health Information Technology for Economic and Clinical Health (HITECH) Act. The HITECH Act establishes ONC in law which provides the US Department of Health and Human Services with the authority to establish programs or policies to improve health care safety, quality, and efficiency through the promotion of health IT, which uses electronic health records (EHRs). Also, in December 2016, ONC implemented several provisions of the bipartisan 21st Century Cures Act into law. In India, the government has implemented many initiatives such as electronic health record standards, National Health Policy 2017, National Metal Healthcare Act among others to make the country’s healthcare system impeccable. Furthermore, various rewards programs are also introduced to attracted more stakeholders in the market. For instance, in the United States,  for physicians willing to adopt electronic medical records, the financial incentive officered by the Federal Government are significant, an average physician with at least thirty percent of his/her patient covered by Medicare is eligible up to US$44,000 in total incentive.

Security concerns

Rising concerns regarding data loss, security breaches are expected to hinder the growth of the market in the coming years. To solve the concerns related to the security of data many regulatory bodies are making standards and guidelines to improve the state of security. For instance, the Office the National Coordinator is presently engaged in an 18-month-long effort to draft standards and guidelines to improve the state of cybersecurity across the healthcare information technology spectrum and such initiatives are implemented to help stakeholders to install IT systems securely, educating the community regarding security issues and also creating support function to help in case of security emergencies.

Rising aging population

The geriatric population is more prone to diseases and it is becoming important to track old age people's health records. Also, electronic medical records to most beneficial for those old age patients who are unable to travel long distances to take medical facilities. The increasing geriatric population in many parts of the world is indirectly supporting the adoption of electronic medical records during the forecast period. For instance, the World Health Organisation in its recent report has projected a 50% rise in annual cardiovascular disease events between 2010 and 2030 based solely on the growing geriatric population in a developing country like China. Also according to the World Bank, the population ages sixty-five and above as the percent of the total population in France and Italy has increased from 16.64% and 20.22% in 2006 to 20.03% and 22.75% respectively by the end of 2018. In addition, rising disposable income is encouraging people to demand better quality healthcare solutions enabled with advance IT solutions for which they are ready to pay high premiums which is also boosting the adoption of electronic medical records.

North America is holding a significant share in the market

By geography, the electronic medical record market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America is expected to hold a significant share in the market owing to the early adoption of technology and the presence of major market players. In the region, the United States is holding a dominant share on account of world-class health infrastructure and rising government initiatives to enable healthcare IT solutions in the country. Asia Pacific region is anticipated to witness substantial growth in the coming years due to expanding healthcare industry and increasing investment by both public and private players in the countries like China and India. Further, Europe is holding a significant share and is expected to create ample opportunities for market players as the region is focusing on cloud-based solutions.

Competitive Insights

Prominent key market players in the Indian electronic medical record market include Cerner Corporation, Cantata Health, Epic Systems Corporation., Medical Information Technology, Inc., InterSystems Corporation, MEDHOST, and Epic Systems Corporation among others. There is intense competition; different companies are adopting different strategies to improve their margins over the competitors. Big market players look for strategic partnerships including mergers and acquisitions and joint ventures to boost their market share. Also, market players are investing heavily in research and development. For instance, in 2018, Centra Health went live with multimillion USD Cerner electronic medical records implementation as a part of its two-year effort to replace previously used HER systems across the health care system. Major market players in the global electronic medical record market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global electronic medical record market.

Electronic Medical Record Market Scope:

Report Metric Details
 Market size value in 2019  US$12,360.489 million
 Market size value in 2025  US$20,880.859 million
 Growth Rate  CAGR of 9.13% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Million
 Segments covered  Component, Type, Mode of Delivery, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Cerner Corporation, Cantata Health, Epic Systems Corporation, Medical Information Technology, Inc., InterSystems Corporation, MEDHOST, Epic Systems Corporation, eClinicalWorks, Athenahealth
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Component
    • Hardware
    • Software
    • Service
  • By Type
    • General EMR
    • Specialty EMR
  • By Mode of delivery
    • Cloud based
    • On premise
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the electronic medical record market size by 2025?
A1. The global electronic medical record market is expected to reach a total market size of US$20,880.859 million in 2025.

Q2. What factors are anticipated to drive the electronic medical record market growth?
A2. Increasing the use of mobile data coupled with the augmenting usage of cloud-based services will propel the growth of the electronic medical record market over the forecast period. 

Q3. What is the size of global electronic medical record market?
A3. Electronic Medical Record market was valued at US$12,360.489 million in 2019.

Q4. What are the growth prospects for electronic medical record market?
A4. The electronic medical record market is expected to grow at a CAGR of 9.13% over the forecast period.

Q5. Which region holds the largest market share in electronic medical record market?
A5. North America is expected to hold a significant share in the market owing to the early adoption of technology and the presence of major market players. 

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions
 
3. Executive Summary
3.1. Research Highlights
 
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
 
5. Electronic medical record Market Analysis, By Component
5.1. Introduction
5.2. Hardware
5.3. Software
5.4. Service
 
6. Electronic medical record Market Analysis, By Type
6.1. Introduction
6.2. General EMR
6.3. Specialty EMR
 
7. Electronic medical record Market Analysis, By Mode of Delivery
7.1. Introduction
7.2. Cloud based
7.3. On premise
 
8. Electronic medical record Market Analysis, By Geography
8.1. Introduction
8.2. North America (US$ Million) 
8.2.1. North America Electronic medical record Market, By Type, 2019 to 2025 (US$ Million) 
8.2.2. North America Electronic medical record Market, By Component, 2019 To 2025 (US$ Million) 
8.2.3. North America Electronic medical record Market, By Mode Of Delivery, 2019 to 2025 (US$ Million) 
8.2.4. By Country
8.2.4.1. United States (US$ Million) 
8.2.4.2. Canada (US$ Million) 
8.2.4.3. Mexico (US$ Million) 
8.3. South America (US$ Million)  
8.3.1. South America Electronic medical record Market, By Type, 2019 to 2025 (US$ Million) 
8.3.2. South America Electronic medical record Market, By Component, 2019 To 2025 (US$ Million) 
8.3.3. South America Electronic medical record Market, By Mode Of Delivery, 2019 to 2025 (US$ Million) 
8.3.4. By Country
8.3.4.1. Brazil (US$ Million) 
8.3.4.2. Others
8.4. Europe (US$ Million) 
8.4.1. Europe Electronic medical record Market, By Type, 2019 to 2025 (US$ Million) 
8.4.2. Europe Electronic medical record Market, By Component, 2019 To 2025 (US$ Million) 
8.4.3. Europe Electronic medical record Market, By Mode Of Delivery, 2019 to 2025 (US$ Million) 
8.4.4. By Country
8.4.4.1. UK (US$ Million) 
8.4.4.2. Germany (US$ Million) 
8.4.4.3. France (US$ Million) 
8.4.4.4. Spain (US$ Million) 
8.4.4.5. Italy (US$ Million) 
8.4.4.6. Others
8.5. Middle East and Africa (US$ Million) 
8.5.1. Middle East and Africa Electronic medical record Market, By Type, 2019 to 2025 (US$ Million) 
8.5.2. Middle East and Africa Electronic medical record Market, By Component, 2019 To 2025 (US$ Million) 
8.5.3. Middle East and Africa Electronic medical record Market, By Mode Of Delivery, 2019 to 2025 (US$ Million) 
8.5.4. By Country
8.5.4.1. UAE (US$ Million) 
8.5.4.2. Saudi Arabia (US$ Million) 
8.5.4.3. Others
8.6. Asia Pacific (US$ Million) 
8.6.1. Asia Pacific Electronic medical record Market, By Type, 2019 to 2025 (US$ Million) 
8.6.2. Asia Pacific Electronic medical record Market, By Component, 2019 To 2025 (US$ Million) 
8.6.3. Asia Pacific Electronic medical record Market, By Mode Of Delivery, 2019 to 2025 (US$ Million) 
8.6.4. By Country
8.6.4.1. Japan (US$ Million) 
8.6.4.2. China (US$ Million)  
8.6.4.3. India (US$ Million) 
8.6.4.4. South Korea (US$ Million) 
8.6.4.5. Others
 
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
 
10. Company Profiles 
10.1. Cerner Corporation
10.2. Cantata Health
10.3. Epic Systems Corporation.
10.4. Medical Information Technology, Inc.
10.5. InterSystems Corporation
10.6. MEDHOST.
10.7. Epic Systems Corporation.
10.8. eClinicalWorks
10.9. Athenahealth

Cerner Corporation

Cantata Health

Epic Systems Corporation.

Medical Information Technology, Inc.

InterSystems Corporation

MEDHOST.

Epic Systems Corporation.

eClinicalWorks

Athenahealth

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