Electronic Health Record Market Size, Future Business Trends, Upcoming Demand, Innovations and Regional Outlook and Forecast 2022-2031

Kenneth Research has recently added a report titled Electronic Health Record Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electronic Health Record Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Electronic Health Record Market is valued at approximately USD 27.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.0% over the forecast period 2020-2027. An electronic health record (EHR) is a system that records or store the patient’s health information in a digital format. EHR is becoming increasingly popular in the healthcare sector since this sector is moving on the way to the digitalization. EHR contains all the data associated with the patient’s medical history, such as diagnoses, medication, immunization dates, radiology images, allergies, treatment plans, and test results from laboratories. This system also enables access to evidence-based tools that are increasingly used by healthcare professionals to make quick and effective decisions about a patient’s treatment. EHRs have also assisted to simplify and automate the workflow in a healthcare establishment. This is likely to impel the demand for electronic health records all over the world. Increasing adoption of EHR among the hospitals, ambulatory care centers, and physicians along with the favorable government initiatives to adopt EHR are some are the few factors responsible for the CAGR of the market during the forecast period.

For instance: the Health Information Technology for Economic and Clinical Health (HITECH) Act established in 2009, to motivate the execution of EHR. This act was intended at rising overall EHR utilization by providing government support to bridge the gap amongst the end-user and technology. Also, this act granted USD 27 billion to generate an incentive program aimed at endorsing the adoption of EHR among the hospitals and ambulatory care centers. This, in turn, is likely to leverage the market growth across the globe. Although, the recent outbreak of the COVID-19 pandemic has led to a rise in demand for EHR in identifying or monitoring the patient’s medical records, wherein hospitals have been used inpatient EHR to capture and manage the patient’s document. Therefore, this factor is positively influencing the demand for Electronic Health Record in the forthcoming year. However, the high implementation & maintenance cost of EHR is one of the major factors restraining the market growth over the forecast period of 2020-2027.https://www.kennethresearch.com/sample-request-10326782

The regional analysis of the global Electronic Health Record market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to the expansion of healthcare IT infrastructure for better quality of care, and the favorable government initiative to promote the adoption of EHR in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the increasing prevalence of chronic diseases such as diabetes & cardiovascular, coupled with improving healthcare infrastructure would create lucrative growth prospects for the Electronic Health Record market across the Asia-Pacific region.

Major market player included in this report are:

AdvancedMD, Inc.
Allscripts Healthcare Solutions, Inc.
Cerner Corporation
Computer Programs and Systems, Inc.
CureMD Corporation
Epic Systems Corporation
Greenway Health, LLC
Quality Systems, Inc.
GE Healthcare

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Product:
Cloud-Based Software
Server-Based/On-Premises Software

By Type:
Inpatient Electronic Health Record
Ambulatory Electronic Health Record

By Application:
Clinical Application
Administrative Application
Reporting in Healthcare System
Healthcare Financing
Clinical Research Application

By End-User:
Clinics & Specialty Centers

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Electronic Health Record Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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