The global Electronic Health Records Market size is expected
to reach USD 38.5 billion by 2030, according to a new report by Grand View Research,
Inc. The market is expected to expand at a CAGR of 4.0% from 2022 to 2030. The
web-based electronic health records (EHRs) are anticipated to show the largest
growth during the forecast period. These EHRs are convenient for use in
pharmacies, small-scaled laboratories, and clinics, as they require limited
hardware infrastructure, which reduces the cost of installation.
EHR vendors and organizations have initiated to help
in curbing the pandemic by making telehealth a mainstream alternative,
enhancing data access through EHRs, and collaborating to develop COVID-19
dashboards in detail. The introduction of EHRs for medical coding and
billing has eased the process as data entering into computerized systems is
more convenient than paper-based methods. EHRs also minimize the risk of errors
in patient data as well as financial details. As per the University of
Michigan, the cost of outpatient care was reduced by 3% upon shifting to EHRs
from paper-based records. This reduction resulted in USD 5.14 savings per
patient per month.
Additionally, M&A activities by market players are
also boosting the market growth. For instance, in February 2021, Evident, LLC,
a subsidiary of CPSI announced that Texas-based Curahealth Hospitals and Cobalt
Rehabilitation, have selected the Evident EHR along with collection services
TruBridge, for three new rehabilitation facilities located in Denver, Colorado;
West Houston, Texas; and San Antonio, Texas. Key players in the EHR market are
investing in the launch of new products and collaborations for sustaining in
the market. For instance, in August 2020, Cerner Corporation collaborated with
Amazon to integrate its EHR solutions with the latter’s wearables such as
Amazon Halo. This would provide greater interoperability to its customers and
strengthen its service portfolio.
Related Press Release@ Electronic Health Records Market Report
Electronic Health Records Market
Report Highlights
- The web-based EHR segment dominated the overall revenues share as
of 2021 and is projected to witness a CAGR of over 4.6% from 2022 to 2030.
A high adoption rate by physicians is expected to boost the market growth
- The ambulatory use segment which includes physician clinics,
laboratories, and pharmacies is expected to exhibit the fastest growth
over the forecast period owing to the increasing number of ambulatory care
centers globally
- The acute care segment held a considerable market share of about
46.8% in the market due to government initiatives for the adoption of EHRs
- North America held a major market share as of 2021, due to the
presence of well-established healthcare infrastructure as well as
favorable government initiatives regarding population health management
- The U.S. is dominating the market in North America due to the
presence of established players in the country
- The industry participants are focusing on product launch,
partnerships, collaborations, mergers, and acquisitions to sustain the
competition
- In Asia Pacific, the market is anticipated to witness lucrative
growth of around 6.9% owing to the developing healthcare infrastructure in
Asian countries, such as Indonesia, China, and India
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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