What are the Historical Developments and Current Growth Metrics of the Pediatric Electronic Medical Record EMR Software Market?
The pediatric electronic medical record emr software market has seen considerable growth due to a variety of factors.
• In recent years, there has been substantial growth in the market size of the pediatric electronic medical record (EMR) software. It is projected to rise from $35.69 billion in 2024 to about $38.28 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
Factors that contributed to this surge in the historic period include the expansion of medical records that stimulated the need for pediatric EMR software, increment in regulatory requirements for pediatric health care establishments, and a heightened demand for interoperable pediatric EMR solutions.
What is the Forecasted Market Size and CAGR for the Pediatric Electronic Medical Record EMR Software Market?
The pediatric electronic medical record emr software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for pediatric electronic medical record (EMR) software is anticipated to witness robust expansion in the forthcoming years, reaching $50.31 billion by 2029 with a compound annual growth rate (CAGR) of 7.1%.
Factors contributing to this growth during the forecast period include an increase in digitalization, higher demand for pediatric EMR software within healthcare institutions, an informed adoption of the EMR software, and a rising predominance of pediatric subspecialties. Key trends slated for the forecast period encompass technological progress, customization tailored to pediatric specialties, telemedicine facilities for pediatric consultations, management of pediatric pain, and enhanced technology for improved care coordination.
What Key Factors and Trends Are Driving The Growth Pediatric Electronic Medical Record EMR Software Market?
The rise in the quantity of medical records is anticipated to stimulate the advancement of the pediatric electronic medical record (EMR) software market. These medical records, encompassing a patient's health history, clinical findings, diagnostic test results, pre-and postoperative care, patient's progress, and medications, present a systematic arrangement of the patient's health data. The increasing number of pediatric medical records can be attributed to various factors, such as increasingly common chronic health conditions in children, enhanced focus on preventive care for children, and heightened healthcare service utilization for children. EMR software assists in categorizing and disseminating these medical records, expediting diagnostic and treatment decisions for pediatric patients. For instance, the Bureau of Labor Statistics, a US government agency, projected in September 2022 that the employment of medical records specialists will rise by 8% from 2022 to 2032, a pace faster than the average for all jobs. Thus, the escalating quantity of medical records is propelling the growth of the pediatric EMR software market.
What Are The Market Segments In The Pediatric Electronic Medical Record EMR Software Market?
The pediatric electronic medical record (EMR) software market covered in this report is segmented –
1) By Type: Cloud Based, On Premises
2) By Components: Software Services, Consulting, Hardware
3) By Functionality: Clinical Documentation, Patient Management, Reporting And Analytics
4) By Application: Large Enterprise, Small And Medium-sized Enterprises (SMEs)
5) By End User: Hospitals, Diagnostic Centers, Other End Users
Subsegments:
1) By Cloud-Based: Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premises: Standalone Systems, Integrated Systems
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How Are Emerging Trends Reshaping The Dynamics Of The Pediatric Electronic Medical Record EMR Software Market?
The key businesses dominating the market for pediatric EMR software are striving to incorporate cutting-edge AI-based systems into their pediatric electronic medical record (EMR) solutions. The motive behind this strategic move is to gain competitive leverage within the market. Pediatric patients and families stand to benefit immensely from the integration of AI in pediatric EMR software, thanks to enhanced clinical decision-making, personalized care, efficiency, and outcomes. For example, in December 2023, Pieces Technologies, a pioneer in healthcare artificial intelligence and technology based in the United States, unveiled its clinical generative AI (artificial intelligence) product, Children’s Health, at the North Texas Pediatric Health System. The innovation seamlessly blends with the pediatric health system's Epic electronic medical record (EMR), frequently used by physicians, nurses, and case managers for various essential tasks including clinical handoffs, length of stay management, resolving discharge barriers, team communication, and multidisciplinary rounds. By leveraging contextual modeling, collaborative and adversarial AI, human-in-the-loop supervision, and automated clinical rapid engineering, Pieces Technologies has achieved an impressively low major error rate.
Who Are the Key Players In The Pediatric Electronic Medical Record EMR Software Market?
Major companies operating in the pediatric electronic medical record (EMR) software market are:
• Meta Platforms Inc.
• Oracle Corporation
• SAP SE
• Cognizant Technology Solutions Corporation
• Koninklijke Philips N.V.
• Optum Inc.
• Goodwill Industries International
• Epic Systems Corporation
• Change Healthcare Inc.
• Infor Inc.
• eClinicalWorks
• Athenahealth Inc.
• Allscripts Healthcare Solutions Inc.
• NextGen Healthcare Inc.
• Meditech
• Computer Programs and Systems Inc.
• GroupOne Health Source Inc.
• Greenway Health LLC
• Bizmatics Inc.
• Kareo Inc.
• AdvancedMD Inc.
• Connexin Software Inc.
• Elinext Group
• Duchang Information Technology
• Kaaspro Enterprises
• MedicalMine Inc.
• JAG Products LLC
• AllegianceMD Software Inc.
What Are The Regional Insights Into The Pediatric Electronic Medical Record EMR Software Market?
North America was the largest region in the pediatric electronic medical record (EMR) software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pediatric electronic medical record (EMR) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
