New York, NY, June 01, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Electronic Health Records Market Size, Share & Trends Analysis Report By Product (Client-Server-Based, And Web-Based), By Type (Post-Acute, Ambulatory, and Acute), By End User (Ambulatory Care, Hospitals), By Business Models (Licensed Software, Technology Resale, Subscriptions, Professional Services, and Others): Global and Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Electronic Health Records Market size & share expected to reach to USD 39.9 Billion by 2026 from USD 29.1 Billion in 2020, at a compound annual growth rate (CAGR) of 5.4% during the forecast period 2021 to 2026”.
Global Electronic Health Records Market: Overview
An electronic health record is a computerized replica of a patient’s paper chart (EHR). It incorporates medical data collected for treatment and diagnosis by and for physicians in clinics, physician offices, and hospitals. EHR systems aid in expanding patient data accessibility, hence improving the overall productivity and efficiency of patient care. Electronic health records also allow for real-time communication between healthcare professionals such as labs and experts.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 195+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Cerner Corp.
- Epic Systems Corp.
- Allscripts Healthcare
- GE Healthcare
- NextGen Healthcare Inc.
- DXC Technology Company
- AdvancedMD Inc.
- Medical Information Technology Inc.
- Greenway Health
- CureMD Healthcare
- McKesson Corp
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Key questions answered in this report:
- What is the projected market size & growth rate of the Electronic Health Records Market?
- What are the key driving factors for the growth of the Electronic Health Records Market?
- What are the top players operative in Electronic Health Records Market?
- What segments are covered in Electronic Health Records Market?
- How can I get free sample report/company profiles of the Electronic Health Records Market?
As the healthcare business moves toward digitization, electronic health record (EHR) systems are becoming more widespread. Many government initiatives, including encouraging physicians to use electronic health records, investing in training healthcare information technology professionals, and building regional extension centers to provide technical and other help, are fueling the expansion of the EHR sector. The company’s rapid success can also be attributed to its simple installation method, which eliminates the need for experts to work with sophisticated infrastructure to host data. All of these tasks may be readily completed via the Internet, which eliminates the need for IT help and reduces additional costs. The increasing acceptance of new technologies to meet expanding client demand is credited with the market’s rise. Medical practitioners’ interactions with EHR are improved by speech-recognition software with natural language processing. It allows for better patient engagement while reducing the number of time experts spend on paperwork. In addition, incorporating artificial intelligence (AI) to predict EHR-based clinical outcomes has aided in improving the patient experience through better care delivery. In addition to these developments, the market expansion will be aided by supportive government initiatives and financing in the field.
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COVID-19 Impact on the Global Electronic Health Records Market
During the coronavirus outbreak, electronic health records proved to be an effective tool for population health and data management. The community has backed government initiatives to gather and analyze COVID-19 population data, as well as individual electronic health records maintained by healthcare organizations. The industry will see significant development as more attempts to utilize digital platforms for pandemic management emerge, as well as ongoing usage of digital technology in the future.
Furthermore, companies like Allscripts saw delays in upfront software revenue and professional services implementations throughout their outpatient and inpatient bases. In recent years, new expansion activities, product approvals, product launches, collaborations, and acquisitions have all had a favorable impact on the market. Furthermore, due to increasing digitalization, there has been a considerable increase in demand for electronic health records, which is supporting market expansion. Market expansion is expected to be fueled by rising demand for healthcare administration centralization and streamlining. A value-based paradigm drives the centralization of health information management, which strives to streamline operations, standardize processes, save costs, and improve the quality of service that leads to patient satisfaction.
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Key Segments: Electronic Health Records Market
Based on end-users, the market can be segmented into ambulatory care and hospitals. In 2020, the hospital sector had the biggest market share of more than 61 percent, and this dominance is expected to continue throughout the forecast period. The vast amount of medical data created in hospitals is to blame for the increase. However, from 2021 to 2026, the ambulatory end-use category is expected to grow at the quickest rate. Patients and healthcare providers benefit from the convenience of ambulatory care centers. In terms of business models, the industry is bifurcated into licensed software, technology resale, subscriptions, professional services, and others. In 2020, the professional services category led the market with a share of approximately 30.0 percent. The segment will be driven by the growing need for professional services such as clinical process optimization, project management, regulatory consultation, technical & application knowledge, and training of a workforce to aid in the design and implementation of systems.
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North America Region Dominates the Global Electronic Health Records Market
In 2020, North America had accounted for the highest market revenue. Due to laws that encourage HER usage and the availability of well-established infrastructure with high digital literacy, the area will continue to dominate even over the foreseeable years. The federal government presented the Federal Health IT Strategic Plan 2020-2025 in May 2020, which requires healthcare providers to use EHR meaningfully.
During the projection period, Asia Pacific is expected to be the fastest-growing regional market. This expansion can be linked to the rising demand for high-quality standards and services, which is fueling the region’s digitalization of healthcare. The Chinese Ministry of Health has developed an action plan for the use of e-health services across the country, which covers a wide range of medical services, insurance plans, and the deployment of electronic record systems to facilitate data sharing across the national healthcare system.
Browse the full report “Electronic Health Records Market Size, Share & Trends Analysis Report By Product (Client-Server-Based, And Web-Based), By Type (Post-Acute, Ambulatory, and Acute), By End User (Ambulatory Care, Hospitals), By Business Models (Licensed Software, Technology Resale, Subscriptions, Professional Services, and Others): Global and Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/electronic-health-records-market
The global electronic health records market is segmented as follows:
By End User:
- Ambulatory Care
By Business Models:
- Licensed Software
- Technology Resale
- Professional Services
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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