What Has Been Electronic Medical Records Market in Recent Years?
The electronic medical records market has seen considerable growth due to a variety of factors.
• The size of the electronic medical records market has seen significant growth in the past years. The market, which was valued at $38.34 billion in 2024, is projected to rise to $40.32 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.2%.
Factors such as advancements in healthcare information technology, intensified government interventions, a surge in the need for digital transformation in healthcare, and the emergence of COVID-19 have contributed to the historical growth.
How Will the Electronic Medical Records Market Size Evolve over the Forecast Period?
The electronic medical records market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for electronic medical records is anticipated to witness robust growth in the upcoming years. The market is predicted to expand to a value of $56.96 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%.
The projected growth during the forecast period can be credited to advancements in healthcare information technology, escalated government initiatives, and an increasing demand for digital transformation within the healthcare sector. Significant trends during this period are anticipated to comprise an emphasis on the application of artificial intelligence, the adoption of natural language processing technology, and voice assistance technology, along with a rise in the use of cloud-based EHRs, strategic partnerships, elevated investment levels, and a surge in mergers and acquisitions.
Which Drivers Are Accelerating Growth In The Electronic Medical Records Market?
The progression of information technology in healthcare is significantly fueling the expansion of the electronic medical records market within this sector. Electronic medical records, which are essential applications that can be constructed, handled, and accessed by authorized personnel within a single healthcare entity, play a pivotal role in efficiently delivering healthcare services electronically. The escalating rise of electronic medical records necessitates additional development and more straightforward applications in line with the advancements in the IT sector of the healthcare industry. A study conducted by BMC Health Services Research, a freely accessible healthcare journal, revealed that the adoption rate for electronic health records was 52.8%, demonstrating a strong preparedness among healthcare professionals for electronic medical records. Therefore, the surge in healthcare information technology is anticipated to spur the expansion of electronic medical records in the healthcare market.
What Key Areas Define The Segmentation Of The Global Electronic Medical Records Market?
The electronic medical records market covered in this report is segmented –
1) By Type: Acute, Ambulatory, Post-Acute
2) By Product: Client-Server-Based EHR, Web-Based EHR
3) By Mode of Delivery: Cloud-Based Model, On-Premise Model
4) By Business Models: Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Other Business Models
5) By Application: E-Prescription, Practice Management, Referral Management, Patient Management, Population Health Management, Other Applications
Subsegments:
1) By Acute: Hospital EMR Systems, Emergency Care EMR
2) By Ambulatory: Outpatient EMR Systems, Specialty Practice EMR
3) By Post-Acute: Long-Term Care EMR, Rehabilitation Facility EMR
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How Are Emerging Trends Reshaping The Dynamics Of The Electronic Medical Records Market?
Leading firms in the electronic medical records (EMR) sector are honing their focus on the enhancement of interoperability and data analytics, such as Patient Risk Identification. This focus aims to improve patient care, optimize clinical workflows, and provide support for healthcare professionals in delivering comprehensive and efficient services. Patient Risk Identification involves using various clinical, demographic, and behavioral data to pinpoint individuals at a higher risk for negative health outcomes. A noteworthy example of this occurred in February 2024 when U.S.-based software company KAID Health unveiled its Patient Risk Identification & Data Extraction (PRIDE) application and established its new Coding Services Group. These innovations, combining cutting-edge technology with a dedicated medical coding services organization, allow healthcare providers to code more accurately and comprehensively, thereby enhancing care. The system analyzes each newly inputted medical note, compiles its content with previous EMR information, and suggests useful clinical and coding interventions tailored to the patient.
Who Are the Key Players in the Electronic Medical Records Market?
Major companies operating in the electronic medical records market include:
• Cerner Corporation
• Allscripts Healthcare Solutions Inc
• General Electric Company
• Athenahealth
• NextGen Healthcare Inc
• Epic Systems Corp
• eClinicalWorks
• CPSI
• Intersystems Corporation
• AdvancedMD Inc
• Innovaccer
• Pharm Easy
• 1mg
• Practo
• Mfine
• GE Healthcare
• Honeywell Lifesciences
• Philips Healthcare
• Systems Healthcare Solutions
• McKesson Corporation
• Medical Information Technology Inc
• Health Information Management Systems
• CureMD Healthcare
• Greenway HealthLLC
• WELL Health Technologies Corp
• Indivica Inc
• OSCARwest
• MV Sistemas
• Philips-Tasy
• Siemens
What Is The Most Dominant Region In The Electronic Medical Records Market?
North America was the largest region in the electronic medical records market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic medical records market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
