About Electronic Medical Record
The global Electronic Medical Record market is expected to witness high growth in the forecasted period due to a growing demand for a better quality of care, and increasing government initiatives to opt for patient flow management solutions and electronic medical records. An electronic medical record is a digital version of the paper chart of a patient. It contains all the data related to a patient's medical history including medications, immunization dates, diagnoses, treatment plans, allergies, radiology images, and test results from laboratories. It helps to allow access to evidence-based tools that are used by healthcare providers to make decisions about a patient's treatment. Additionally, It also helped to streamline as well as automate the workflow in a healthcare setting.
Attributes | Details |
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Study Period | 2018-2029 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The EMR market presents significant opportunities for innovative companies. The growing demand for improved healthcare efficiency, data-driven decision-making, and patient engagement creates a fertile ground for new technologies and solutions. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electronic Medical Record market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cerner Corporation (United States), Computer Programs and Systems, Inc. (United States), CureMD Corporation (New York), AdvancedMD, Inc. (United States), Allscripts Healthcare Solutions, Inc. (United States), eClinicalWorks (United States), Toshiba Medical Systems Corp. (Japan), Siemens Medical Solutions (Germany), McKesson Corporation (United States) and GE Healthcare (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Epic Systems Corporation (United States), General Electric Company (United States), Greenway Health, LLC (United States) and Quality Systems, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electronic Medical Record market by Type (Inpatient Electronic Medical Record and Ambulatory Electronic Medical Record), Application (Clinical, Administrative, Reporting in Healthcare System, Healthcare Financing and Clinical Research Application) and Region.
On the basis of geography, the market of Electronic Medical Record has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. Web/Cloud will boost the Electronic Medical Record market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Electronic Medical Record market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Electronic Medical Record market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Adoption of Paperless Environment to Minimize Human Error and Technological Advancement and Modernization in the Healthcare Management System
Market Growth Drivers:
Increased Portability and Accessibility of Medical Document Management Systems and High Demand due to Improved Clinical Studies
Challenges:
Rise in Concerns Regarding the Patient Data Safety & Security due to Increase in Cyber-Crime
Restraints:
The Market Growth is Limited by the High Cost of Electronic Medical Record
Opportunities:
Increasing Requirement of to Minimize Records Retention Costs and Huge Demand due to Better Management of Patient’s Information Record
Market Leaders and their expansionary development strategies
In December 2023, Philips and Epic Systems announce a collaboration to develop interoperable EMR solutions for hospitals and imaging centers, facilitating seamless data exchange and streamlined workflows.
In October 2023, InterSystems introduces its "IRIS for Health" platform, featuring open-source architecture and advanced analytics capabilities to empower healthcare organizations with flexible and customizable EMR solutions.
Key Target Audience
Electronic Medical Record Software and Solution Providers, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.