Global Electronic Health Records Market by Type (Post-acute, Acute), by End-use (Ambulatory Care, Hospitals), by Product (Client-server-based, Web-) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global electronic health records market was valued at USD 26.8billion in 2020. It is expected to grow at a compound annual rate (CAGR), of 3.7% between 2021 and 2028. This market is driven by government initiatives to encourage health IT use. My Health Record, for example, is an Australian national digital health record platform. Unless they choose to decline it, every Australian citizen has a "My Health Record". According to the agency, by 2022 all healthcare providers will be able contribute to the platform and access the healthcare information. Market growth will also be driven by the introduction of advanced technology in healthcare services.

Since 2020, healthcare organizations have been under severe pressure from the Covid-19 pandemic. Major market players have seen their revenues decline due to lower new business bookings. Client purchasing decisions are delayed and projects are put off. Companies such as Allscripts experienced delays in securing upfront software revenue, and professional services implementations for their inpatient and outpatient bases.

In recent years, the market has seen positive changes due to new expansion activities, product approvals and product launches. Partnerships and acquisitions also have had a positive impact. The market is also experiencing a significant rise in demand for electronic health records, due to digitalization. This, in turn, has fueled the market growth. Market growth is expected to be driven by rising demand for centralization of healthcare administration and streamlining. The value-based model for centralizing health information management aims to streamline operations, standardize processes, and improve patient satisfaction.

From 2019 to 2020, COVID19 EHR Market Impact: 2.7% decrease

Market growth is also being boosted by the increase in mergers and acquisitions of market players. In January 2021, Allscripts Healthcare Solutions announced that it had entered into a strategic partnership agreement with the U.S Orthopedic Alliance. This partnership was intended to create an efficient infrastructure to help orthopedic practices scale quickly, improve their electronic health records (EHR), provide evidence-based guidelines that support the development of clinical protocols, and establish community-wide connectivity using value-based care analytics.

Product Insights

In 2020, the web-based EHR market dominated and represented more than 54% of global revenue. The large market share can be attributed to the popularity and acceptance of web-based EHRs by healthcare providers and physicians. These systems are smaller and can be installed on-site without the need for in-house servers. They can also allow for extensive customizations and improvements as needed.

Over the forecast period, significant growth is expected in the client-server-based product segment. Client-server-based EHRs offer a safer alternative to users, as they provide in-house data storage. This prevents data theft. They can be tailored to meet the needs of each customer and are an excellent option for multi-physician facilities. They are also more reliable than web-based systems and can be customized to suit your needs.

Type Insights

In 2020, the market share for acute types was 47%. This growth can be attributed largely to government initiatives for small-scale EHR adoption. Acute care hospitals in the United States, for example, are eligible to receive the Medicare incentive payment system.

The ambulatory EHRs can be used in small practices and outpatient care facilities. Market growth is expected to be boosted by government support, particularly during the Covid-19 pandemic. Segment growth is expected to be driven by its ease of use, compared to inpatient systems. EHRs can be used to treat a single patient and one practice, rather than a network of hospitals.

The primary purpose of post-acute EHRs is to provide rehabilitation services for patients who have been admitted to an acute care hospital. Inpatient rehabilitation centers and hospitals, home health agencies, long-term care hospitals, and long-term hospitals are all examples of post-acute care facilities. The segment is expected to grow because of rising spending on post-acute facilities.

Insights on Business Models

With a market share of over 30% in 2020, the professional services segment was dominant. This segment will be driven by the rising demand for professional services such as project management, clinical process optimization and technical & applied expertise.

Due to a decreased use of professional services and third-party resources, this segment was one of the most affected by the Covid-19 pandemic. The licensing segment of licensed software is heavily involved in the creation and licensing intellectual property. Intellectual property includes architectures, executable and referential knowledge, software applications, data & algorithms, and executable & reference knowledge. The pandemic also had a significant impact on this segment.

End-use Insights

In 2020, the hospital segment held the largest market share at 61% and will continue to hold that position during the forecast period. This is due to the high volume of hospital-generated medical data. The market growth is also aided by the fact that hospitals are less expensive to install than ambulatory care centers.

The fastest CAGR is expected to be in the ambulatory segment between 2021 and 2028. Ambulatory care centers offer convenience for patients and healthcare providers. The segment's growth is expected to be driven by the increasing popularity and increased number of ambulatory healthcare centers around the world. This segment has seen a higher adoption rate for EHRs in large-scale ambulatory centers than the smaller ones.

Regional Insights

North America had the largest revenue share, with over 45% in 2020. Because of policies that encourage HER adoption and the existence of an infrastructure with high digital literacy, the region will continue to be dominant in the future. The Federal Health IT Strategic Plan 2020-2025 was proposed by the federal government in May 2020. It mandates meaningful use of EHR by healthcare providers.

Asia Pacific will be the fastest growing region market over the forecast period. This is due to the growing demand for high-quality services and quality standards, which has accelerated the digitalization of healthcare. China's Ministry of Health has created an action plan to use e-health services across the country. It covers broad areas of healthcare, insurance plans, as well as electronic record systems that allow data sharing within the national healthcare system.

Market Share Insights & Key Companies

Market leaders participate in product launches, collaborations and expansions. To gain a competitive edge, both large and small companies are investing in mergers and acquisitions. Cerner Corp. purchased Kantar Health in April 2021 for USD 375 million. The acquisition brought together Cerner's real-world data and technology with Kantar's expertise in life sciences. This combination accelerated innovation in life science research and improved patient outcomes worldwide. CureMD Healthcare created a practice continuity program for healthcare providers in March 2020 to help them remotely treat patients during the pandemic. This would increase the company's market share and help businesses combat Covid-19 via virtual care plans. The following are some of the major players in the global Electronic Health Records market (EHR).

• Cerner Corp.

• GE Healthcare

• Allscripts Healthcare, LLC

• McKesson Corp.

• Epic Systems Corp.

• NextGen Healthcare, Inc.

• eClinicalWorks

• Medical Information Technology, Inc.

• HMS

• CPSI

• AdvancedMD, Inc.

• DXC Technology Company

• CureMD Healthcare

• Greenway Health, LLC

Up Market Research published a new report titled “Electronic Health Records Market research report which is segmented by Type (Post-acute, Acute), by End-use (Ambulatory Care, Hospitals), by Product (Client-server-based, Web-), By Players/Companies Cerner; Allscripts; McKesson Corporation; MEDITECH; Epic Systems Corporation; NextGen Healthcare”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electronic Health Records Market Report Segments:

The market is segmented by Type (Post-acute, Acute), by End-use (Ambulatory Care, Hospitals), by Product (Client-server-based, Web-).

Electronic Health Records Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electronic Health Records Market

Overview of the regional outlook of the Electronic Health Records Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electronic Health Records Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electronic Health Records Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Post-acute

                2. Acute

                1. Ambulatory Care

                2. Hospitals

                1. Client-server-based

                2. Web-

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electronic Health Records Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Electronic Health Records Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.