Global Electronic Health Records Market By Product (Web-based HER and Client-server-based EHR), By Type (Acute, Post-acute, and Ambulatory), By End-use (Hospital Use and Ambulatory Use), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Electronic Health Records Market Overview:

The global electronic health records market was valued at USD 27,740 million in 2021. It is expected to grow at a 4.2% CAGR from 2023 to 2032.

Global Electronic Health Records Market

Product Analysis

The market leader in electronic health records was the web-based EHR segment. It accounted for more than 50% of the total revenue share in 2021. Their popularity with physicians and other healthcare professionals, who operate on a smaller scale, is what explains their large market share. Web-based EHRs are easy to install and offer many customizations and improvements.

It is expected that the client-server-based EHR segment will experience significant growth over the forecast period. 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 customer needs and are an excellent option for multi-physician facilities. They are also more reliable than web-based EHRs and can be customized to suit your needs.

End-use Analysis

Hospitals dominated the market for electronic health records (EHR), and they held the highest revenue share at more than 60% in 2021. This is due to the high volume of hospital-generated medical data. The market growth is also aided by the fact that hospitals have lower costs for electronic health records installation than ambulatory care centers. The market is also fueled by the fact that they can be used to save time in large-scale hospitals. The segment is expected to grow because of the ease of use of electronic health records, which are widely used in small and medium-sized hospitals.

Ambulatory care centers offer convenience for patients and healthcare providers. This segment is expected to grow due to the increasing number of ambulatory healthcare centers in both developed and developing economies.

Large-scale ambulatory centers are more likely to adopt electronic health records than smaller-scale centers. Because the cost of installing electronic health records in ambulatory centers is higher and larger centers have easier access to capital investments, they are able to handle productivity challenges.

Type Analysis

Acute EHR was the dominant segment in the market for electronic medical records, accounting for 46.8% of the total revenue share in 2021. This growth can be attributed largely to government initiatives to adopt electronic health records in small-scale facilities.

Acute care hospitals in the United States that are covered by the Inpatient Prospective Payment System are eligible for the Medicare incentive payments system. Acute care electronic medical records can be used to provide clinical information. These data can be used to support ICU and inpatient units, as well as operating room purposes.

These electronic health records can be used in small practices and outpatient care facilities. Market growth is expected to be boosted by government support for the adoption of ambulatory electronic medical records, particularly during the COVID-19 pandemic.

Market growth is expected to be driven by the ease of use, as opposed to inpatient electronic medical records. Instead of dealing with multiple hospitals, these electronic health records focus on a single practice and its patient. Companies that deal in ambulatory electronic records include Epic Corporation and eClinicalWorks.

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

Market growth is expected to be boosted by rising spending on post-acute facilities. The market can be further boosted by electronic health records that are used in long-term care facilities. They allow for easy information exchange between departments. The market is likely to be affected by a lack of awareness in the Asia Pacific and MEA.

Business Model Analysis

Professional services dominated the market in electronic health records. They accounted for more than 31.0% of the total revenue share in 2021.

Healthcare systems can use professional services to help them implement information systems within their organization. These services include project management, technical and app expertise, clinical process optimization, and regulatory consulting. They also help with training end-users to design and implement electronic health records systems. Because of its broad range of applications that allow for the implementation of information systems within organizations, it is expected to have the largest market share. The subscription model for electronic health records is time-based and charges a monthly usage fee. This is the main way medical knowledge is packaged, delivered, and distributed.

In the technology resale section, licensed software can be bundled with IPs from other companies to create complete technology solutions for healthcare. Software licensed includes software, architectures, executable and referential information, as well as data and algorithms.

Healthcare systems can use professional services to help them implement information systems within their organizations. These services include project management, technical and app expertise, clinical process optimization, and regulatory consulting. They also train end-users in designing and implementing electronic medical records systems. Managed services, support, maintenance, and other similar services are also available.

Key Market Segments

Product

• Web-based EHR
• Client-server-based EHR
• Type
• Acute
• Post-acute
• Ambulatory

End-use Hospital Use

• Ambulatory Use
• Physician’s Clinic
• Laboratories
• Pharmacy

Market Dynamics

This market is driven by government initiatives to promote healthcare IT use. My Health Record, for example, is an Australian national digital health record platform. Every Australian citizen is entitled to a “My Health Record” unless they choose not to.

According to the agency, by 2022 all healthcare providers will be able to contribute to the platform and access the healthcare information. The introduction of technologically advanced healthcare services will also drive market growth for electronic health records (EHR).

Since 2020, healthcare organizations have been under severe pressure due to the spread of COVID-19. Major market players have seen a decrease in revenue due to the pandemic. This is because certain client purchases and projects are delayed and clients make less money. Companies such as Allscripts were also affected by delays in securing upfront software revenue or professional services implementations for their inpatient and outpatient clients.

Recent years have seen positive changes in the EHR market, including product launches, product approvals, and product launches. The growing digitization has also led to a significant rise in demand for electronic health records, which is driving the market growth.

The market for electronic healthcare records is expected to grow due to the rising demand for centralization of healthcare administration and streamlining. The value-based model for centralizing health information management aims to streamline operations, reduce costs, standardize processes, and improve quality and patient satisfaction.

Market growth is also being boosted by a growing number of market players completing mergers and acquisitions. Allscripts Healthcare Solutions announced a collaboration with the U.S. Orthopedic Alliance in January 2021.

This partnership aims to bring to market an efficient infrastructure that can assist orthopedic practices in scaling with agility, improving the implementation time of electronic health records, providing evidence-based guidelines for supporting evolving clinical protocols, creating community-wide connectivity and value-based care analytics, and bringing to market a cost-effective solution.

Regional Analysis

North America was the dominant market for electronic medical records in 2021, accounting for 45.4% of the total revenue. This region’s growth is largely due to policies that encourage the adoption of electronic medical records and high levels of digital literacy. The Federal Health IT Strategic Plan 2020-2025 was proposed by the federal government in May 2020. This plan mandates that healthcare providers use electronic health records in a meaningful way.

The European Commission’s Digital Single Market Strategy provides consumers and businesses access to goods and services online across Europe. This creates the conditions necessary for the development of the digital network. It is expected that this will maximize the potential growth of the European economy.

The market for electronic medical records in the Asia Pacific is expected to experience lucrative growth over the forecast period. This is due to the increasing demand for high-quality services and standards that are driving the digitalization in healthcare.

China’s Ministry of Health has created an action plan to encourage the use of e-health services across China. It covers a wide range of healthcare services and insurance plans. There is a strong focus on electronic records, which will allow data sharing within the national healthcare system.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

Market leaders participate in product launches, collaborations, and expansions. To gain an edge in the market, both large and small companies are investing in mergers & acquisitions. Oracle purchased Cerner Corporation in December 2021 for USD 28.3 million. Oracle’s position within the EHR Market was strengthened by Cerner’s acquisition. Cerner was a major player in this space.

Cerner Corporation also acquired Kantar Health in April 2021 for USD 375 million. The acquisition combined Cerner’s real-world data collection and technology with Kantar’s expertise in life sciences. This combination accelerated life sciences research innovation and improved patient outcomes worldwide.

Key Market Players

The following are some of the most prominent players in electronic health records:

• Cerner Corporation (Oracle)
• Allscripts Healthcare LLC
• GE Healthcare
• Epic Systems Corporation
• McKesson Corporation
• NextGen Healthcare Inc.
• Medical Information Technology Inc.
• eClinicalWorks
• Other Key Players

For the Electronic Health Records Market research study, the following years have been considered to estimate the market size: