The global electronic health records (EHR) systems market was worth $20,961.2 million in 2014, and it is expected to grow at a CAGR of 6.2% during 2015-2020. Among the end users, the hospital EHR systems accounted for the major share in global EHR systems market in 2014, whereas, ambulatory EHR system is expected to grow at the faster rate during the forecast period. The EHR systems market is experiencing significant growth due to several favourable macro-economic factors, such as people’s growing fascination towards new healthcare technologies and increasing disposable incomes. Increasing geriatric population and increasing prevalence of chronic diseases require better healthcare facilities, in order to provide efficient healthcare services; this in turn increases the usage of EHR systems.
Various healthcare reforms have been passed worldwide to reduce the cost and improve the quality of healthcare services. Governments of various countries are taking initiatives to encourage the use of EHR systems, as these systems help to reduce healthcare costs and maintain quality of healthcare services. EHR systems market in developing economies, such as Asia-Pacific, Africa, and Latin America, have been growing at a significant pace due to rising awareness for EHRs among population, and rising adoption rate for EHRs.
Web based/cloud based server EHR system is a software-based delivery model, which offers patient health records data management, and involves clusters of servers providing access to software and healthcare data from any online computer at any time. The web based/cloud-based server EHR systems market is expected to grow at faster rate during the forecast period. Increasing demand for powerful IT systems in diagnostic and medical laboratories is expected to provide significant opportunities for the growth of global EHR systems market.
However, certain restraints such as high maintenance and service expenses for EHR systems and lack of security and privacy are hindering the market growth. In addition, lack of skilled professionals for efficient handling of the EHR systems also restrains the market. The increasing awareness about EHRs and improving healthcare facilities in developing countries, such as China, India, and Brazil, are laying significant opportunities for EHR systems market. Asia-Pacific EHR systems market is expected to witness the fastest growth (CAGR 7.1%) globally during the period 2015 – 2020.
The key companies operating in the global EHR systems market include eClinicalWorks, McKesson Corporation, Cerner Corporation, Allscripts, GE Healthcare, athenahealth Inc, Epic Systems Corporation, MEDITECH, Quality Systems Inc. and Healthland.
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