1880 S Dairy Ashford Rd, Suite 650, Houston, TX 77077

Electronic Health Records Market Booming! and Projected to Reach USD 39.89 Billion by 2031 Driven by Government Initiatives & Technological Advancements

The Electronic Health Records (HER) market held a value of USD 29.15 billion in 2023 with a projected valuation of USD 39.89 billion by 2031and is expected to register a compound annual growth rate (CAGR) of 4% from 2024 to 2031.

Electronic Health Records Market
Electronic Health Records Market

Global Government Initiatives Are Playing an Important Role in Driving Market Growth

“Australia’s My Health Record, a national digital health record platform accessible to all citizens, exemplifies such efforts”. Additionally, the integration of advanced healthcare services like telehealth and remote patient monitoring is propelling the market forward.

Furthermore, the market has witnessed a surge in new product launches, strategic partnerships, mergers & acquisitions, and a heightened demand for EHRs due to the growing digitalization of healthcare systems. The increasing focus on centralized healthcare administration, driven by value-based models, is another key driver. This model aims to streamline operations, standardize processes, and reduce costs, ultimately enhancing patient care and satisfaction. Mergers & acquisitions within the market further contribute to its expansion.

“Allscripts Healthcare Solutions’ strategic partnership with the U.S. Orthopedic Alliance (USOA) in January 2021 aimed to provide orthopedic practices with efficient infrastructure, faster EHR implementation, and evidence-based guidelines”.

Download Free Sample Report of Electronic Health Records Market @ https://www.snsinsider.com/sample-request/1044

List of Electronic Health Records Companies Profiled in Report:

  • Cerner Corporation (Oracle)
  • GE Healthcare
  • Allscripts Healthcare LLC
  • McKesson Corporation
  • Epic Systems Corporation
  • NextGen Healthcare Inc.
  • eClinicalWorks
  • Medical Information Technology Inc.
  • Health Information Management Systems
  • CPSI
  • AdvancedMD Inc.
  • CureMD Healthcare
  • Greenway Health LLC

The EHR Market Landscape Is Characterized By:

New Product Launches:

Companies are constantly innovating and launching new products to expand their reach and cater to diverse regional demands.

“GE Healthcare’s launch of the Edison Digital Health Platform in March 2022 exemplifies this trend, enabling healthcare providers to accelerate their digital transformation and meet the growing requirement for EHRs”.

Mergers & Acquisitions (M&A) Activities: The market is experiencing an upswing in M&A activity, with established players acquiring smaller firms to solidify their market positions, broaden product portfolios, and enhance competencies. Thoma Bravo’s acquisition of NextGen Healthcare, a leading EHR systems manufacturer, in September 2023 serves as a prime illustration.

Regulatory Impact: Regulatory frameworks for EHRs are evolving worldwide, with government support through reforms positively impacting market growth. In Europe, government bodies are actively driving the development and implementation of EHR systems in healthcare facilities. Similarly, the US HITECH Act established the Medicare and Medicaid EHR Incentive Programs to incentivize healthcare providers to adopt and utilize certified EHR technology.

Electronic Health Records [EHR] Industry Segmentation as Follows:

By Installation type:

  • Cloud-based
  • On-Premise

By Type:

  • Acute EHR
  • Ambulatory EHR
  • Post-Acute EHR

By Application:

  • Clinical Application
  • Administrative Application
  • Reporting in Healthcare System
  • Healthcare Financing
  • Clinical Research Application

By End-User:

  • Hospitals
  • Diagnostics and Imaging centers
  • Ambulatory care centers
  • Pharmacies

Segmentation Analysis

Type-Based Analysis: The acute EHR segment dominated the market in 2023 due to government initiatives promoting EHR adoption in smaller facilities. For instance, acute care hospitals in the US covered under the inpatient prospective payment system (IPPS) are eligible for the Medicare incentive payment system.

End-Use Based Analysis: The hospitals segment held the largest market share in 2023. This dominance can be attributed to the vast amount of medical data generated in hospitals. Additionally, the cost of installing EHRs is lower in hospitals compared to ambulatory care centers, further contributing to market share.

Ask Your Query Before Buying this Research Report @ https://www.snsinsider.com/enquiry/1044

Impact of Global Events

Russia-Ukraine War: The ongoing war between Russia and Ukraine is expected to have a moderate negative impact on the EHR market in the short term. Disruptions in the supply chain, sanctions imposed on Russia, and the diversion of resources towards war efforts could potentially hinder market growth in the affected regions. However, the long-term impact is anticipated to be minimal, with the market likely to recover and resume its growth trajectory.

Economic Slowdown: An economic slowdown could potentially lead to budget cuts in healthcare spending, impacting the adoption rate of EHRs, especially in resource-constrained regions. However, the long-term benefits of EHRs, such as improved efficiency, cost savings, and enhanced patient care, are likely to outweigh these temporary challenges. Healthcare providers may prioritize investments in EHR systems for their long-term benefits despite economic downturns.

North America Dominates The Global EHR Market, Accounting For Approximately 45% Of The Revenue Share In 2023

Policies that encourage the adoption of EHRs and the high level of digital literacy within the region contribute significantly to market growth. Government regulations and acts focused on monitoring the safety of healthcare IT solutions provide a secure environment for EHR adoption in the US. For example, the federal government’s proposal of the Federal Health IT Strategic Plan 2020-2025 in May 2020 mandates meaningful use of EHRs by healthcare providers.

The US EHR market is driven by competition among established players like Epic Systems, NextGen Healthcare, eClinicalWorks, Cerner Corporation, and Allscripts. This competition fosters innovation and drives down prices, making EHRs more accessible to a wider range of healthcare providers.

Key Takeaways Related To The Report:

  • Understand the key factors driving the Electronic Health Records (EHR) market growth, including government regulations, technological advancements, and the increasing demand for centralized healthcare administration.
  • Gain insights into the current market size of the EHR market (USD 29.15 billion in 2023) and its projected growth trajectory to reach USD 39.89 billion by 2031 at a CAGR of 4%.
  • Get a understanding of the EHR market segmentation by type (acute EHR, ambulatory EHR, and post-acute EHR) and end-use (hospitals and ambulatory care).
  • Learn about the potential short-term challenges posed by the Russia-Ukraine war and economic slowdowns, alongside the long-term optimistic outlook for the EHR market.
  • Identify lucrative regions for EHR market growth, like North America (driven by supportive policies and regulations) and Asia Pacific (fueled by the demand for quality healthcare and government initiatives).
  • Gain insights into the competitive landscape of the EHR market, including key players and factors driving competition (innovation, cost reduction).

Buy Electronic Health Records Market report @ https://www.snsinsider.com/checkout/1044

Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Electronic Health Records Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Electronic Health Records Market Segmentation, By Installation type

Chapter 9 Electronic Health Records Market Segmentation, By Type

Chapter 10 Electronic Health Records Market Segmentation, By Application

Chapter 11 Electronic Health Records Market Segmentation, By End-User

Chapter 12 Regional Analysis

Chapter 13 Company profile

Chapter 14 Competitive Landscape

Chapter 15 Use Case and Best Practices

Chapter 16 Conclusion


For more information and a comprehensive analysis of the market, please refer to the full report available at https://www.snsinsider.com/reports/electronic-health-records-ehr-market-1044

Contact Us:

Akash Anand – Head of Business Development & Strategy,

[Protected Email],

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),

Website: https://www.snsinsider.com/