Electronic Health Records Market By Product (Client-server-based, & Web-based), Type (Acute, & Ambulatory), Application (Hospitals, & Specialty), Business Models (Licensed Software, Technology Resale, & Subscriptions), & Region for 2024-2031

Electronic Health Records Market Valuation – 2024-2031

Government programs around the world are actively encouraging the adoption of digital healthcare technology, including EHRs. These initiatives can take the shape of financial incentives for healthcare providers or national programs that develop digital health record platforms for citizens. This effort by governments creates a fertile foundation for EHRs to become the norm in healthcare delivery. The market size surpass USD 26.85 Billion valued in 2024 to reach a valuation of around USD 34.81 Billion by 2031.

A growing focus on improved patient care and data-driven healthcare is driving demand for EHRs. EHRs provide better coordination among healthcare practitioners, easier access to patient data, and, ultimately, more successful therapies. As the healthcare business prioritizes better results, EHRs become an essential instrument in achieving them. The rising demand for cost-effective and efficient electronic health records is enabling the market grow at a CAGR of 3.30% from 2024 to 2031.

Electronic Health Records MarketDefinition/ Overview

An Electronic Health Record (EHR) is a digital version of a typical paper medical chart. Unlike bulky binders containing handwritten notes and test results, EHRs electronically preserve a patient’s medical history in a safe and easily accessible format. This comprehensive record can contain a wealth of information regarding a patient’s health.

An EHR often stores demographics, medical history, diagnoses, prescriptions, allergies, vaccines, laboratory test results, radiological pictures, vital signs, and even personal information like as height and weight. In some circumstances, billing data may be linked into the EHR system.

One of the primary benefits of EHRs is the ability to securely communicate information with authorized medical professionals. This gives doctors, nurses, specialists, and other healthcare workers involved in a patient’s care access to the most complete and up-to-date medical information. This improves care coordination, removes the need for patients to repeat tests at several locations, and lowers the chance of errors caused by missing or erroneous information.

It is essential to distinguish between EHRs and Electronic Medical Records (EMRs). While the names are frequently used interchangeably, there is a small distinction. EHRs provide a more comprehensive view of a patient’s health information, which may include data from many healthcare environments. In contrast, EMRs often focus on the medical history gathered by a given practitioner or facility.

Will Increasing Government Initiatives and Regulations Drive the Electronic Health Records Market?

The electronic health records (EHR) market’s increased government initiatives and regulations are major drivers. Increased government initiatives and regulations are major drivers of the electronic health records (EHR) market. As governments throughout the world prioritize the digitalization of healthcare systems to improve efficiency, minimize medical errors, and improve patient care, they frequently adopt legislation and regulations requiring the use of EHR systems. These programs often include financial incentives, such as grants or subsidies, to encourage healthcare providers to install EHR solutions that fulfill certain standards.

Governments may also impose penalties or withhold reimbursements from providers that fail to comply with EHR rules, further driving adoption. As governments continue to increase their efforts to update healthcare infrastructure, demand for EHR systems is projected to rise.

The changing regulatory landscape in healthcare, particularly data privacy and security rules, encourages continued investment in EHR technologies. Healthcare providers face increasing pressure to comply with severe data privacy standards, such as HIPAA in the United States and GDPR in the European Union. EHR systems that provide comprehensive security features and assure regulatory compliance are in great demand. As governments continue to pass and enforce rules aimed at protecting patient data and increasing healthcare quality, the demand for EHR solutions that fulfill these criteria will increase, driving market growth.

Will the Data Privacy and Security Concerns Hamper the Electronic Health Records Market?

The electronic health records (EHR) market data privacy and security concerns represent substantial obstacles, potentially impeding the expansion. With the rising digitization of health records and the interconnectedness of healthcare systems, securing sensitive patient information from illegal access, data breaches, and cyber threats is critical. Hospitals are under increasing pressure to deploy comprehensive security measures to protect patient data and meet severe regulatory standards such as HIPAA in the United States and GDPR in Europe. Failure to appropriately handle data privacy and security concerns exposes healthcare providers to legal and financial obligations while also undermining patient trust and confidence in EHR systems.

Furthermore, data breaches and security incidents can have far-reaching implications, such as reputational harm, loss of patient trust, and disruptions to healthcare services. Healthcare businesses may hesitate to embrace or extend EHR deployments if they believe the risks of data breaches outweigh the possible advantages.

As a result, addressing data privacy and security concerns is critical for increasing trust and confidence in EHR systems and assuring their continuous use and uptake in the healthcare business. Efforts to increase cybersecurity standards, improve data encryption, and implement rigorous access controls are crucial for reducing risks and laying a solid foundation for the EHR market’s growth.

Category-Wise Acumens

Will the Client-server Segment Drive the Electronic Health Records Market?

The client-server electronic health record market has usually controlled the market for a variety of reasons. First, they give healthcare professionals a sense of control over their data. Because data is stored on local servers within the facility, these systems allow for greater customization and easier management adapted to unique requirements. This localized approach instills confidence in data security and privacy due to providers having direct monitoring and management of their data rather than depending on other services.

In places that have limited internet connectivity, client-server systems may outperform web-based solutions. Their functionality is less dependent on regular internet access, making them ideal for facilities located in remote or underserved locations with poor connectivity. This resistance to internet disturbances enables continuous access to critical patient information, allowing healthcare providers to offer quality care even in locations where internet stability is a concern. Thus, client-server systems’ inherent control and agility help them maintain their position as leaders in the EHR market.

Will the Acute Care Segment Drive the Electronic Health Records Market?

According to analysts, the acute care category currently controls the majority of the Electronic Health Records (EHR) industry. This sector includes hospitals, emergency departments, and other facilities that provide short-term, intensive care services. A variety of variables contribute to acute care’s market dominance. Initially, hospitals often have enough money to invest in sophisticated EHR systems capable of properly managing complex patient cases.

Government legislation and funding campaigns usually prioritize the implementation of EHR systems in acute care settings as part of larger efforts to improve patient safety and healthcare outcomes. This specific focus on acute care institutions emphasizes their critical role in pulling the adoption and use of EHR technology in the healthcare industry.

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Country/Region-wise Acumens

Will the New Policies in North America Favor Electronic Health Records Market?

North America is expected to lead the market, accounting for around 43.76% of global revenue in 2023. Policies that encourage the use of electronic health records, as well as the availability of infrastructure with high digital literacy, are important factors driving the region’s growth. Furthermore, favorable government laws and legislation to oversee the safety of healthcare IT solutions are projected to boost the electronic health record industry in the United States. For instance, in May 2020, the federal government presented the Federal Health IT Strategic Plan 2020-2025, which requires healthcare providers to use electronic health records meaningfully.

U.S. electronic health record market Several factors promote competition in the EHR industry in the United States, including expanding demand for enhanced healthcare technology, regulatory restrictions, and a growing need for interoperability across different EHR systems. Many firms offer EHR systems in the United States, including well-known names like Epic Systems, NextGen Healthcare, eClinicalWorks, Cerner Corporation, and Allscripts. These companies compete on system functionality, simplicity of use, price, and customer service.

Will the Healthy Economies in Europe Drive the Electronic Health Records Market?

In 2023, the European electronic health record (EHR) sector held the second-largest market share, owing to the presence of advanced economies that are expected to drive market expansion across the region during the forecast period. Europe’s healthy economic landscape, defined by developed nations, is expected to function as a stimulus for EHR market expansion.

The European Commission’s Digital Single Market Strategy has played an important role in driving this growth trajectory. This strategic project wants to make online services and products more accessible to consumers and businesses across Europe, supporting the growth of digital networks and associated services. As a result, the European economy is prepared to reach its full potential, with the EHR sector gaining greatly from this supporting regulatory environment and technology innovation.

The Digital Single Market Strategy is essential in removing legislative barriers and creating a uniform digital ecosystem across European countries. This strategy promotes interoperability and standardization in digital services and infrastructure, which streamlines treatments and increases efficiency, stimulating innovation and investment in digital technology.

As a result, the EHR market in Europe is poised to benefit from this favorable environment, with increased adoption and utilization of electronic health records expected as healthcare providers leverage advanced digital solutions to improve patient care delivery, enhance data exchange capabilities, and drive operational efficiencies. Thus, the Digital Single Market Strategy demonstrates Europe’s commitment to developing a vibrant and competitive digital economy, with the EHR sector ready to play a critical role in changing the region’s health-care landscape.

Competitive Landscape

The electronic health records market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the electronic health records market include

• 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.

Latest Developments

• In July 2023, the collaboration between the American Podiatric Medical Association (APMA) and NextGen Healthcare will be renewed. According to the rules of this agreement, the only cloud-based EHR and practice management system that uses blueprints created specifically for APMA is “NextGen Office.”
• In April 2023, Epic’s unique EHR software and Microsoft’s Azure OpenAI Service will unite to strengthen the two companies’ strategic cooperation, which is aimed at developing and applying generative AI in the healthcare business.
• In November 2022, CareArc, a federally qualified health center (FQHC) in Kansas, has launched an Epic EHR implementation in collaboration with Health Choice Network (HCN) to enhance the patient experience.
• In November 2022, Anumana bought NeuTrace. The acquisition establishes Anumana as a global AI medical software development company for cardiac electrophysiology. It is a collaborative effort to integrate a patient’s whole electronic medical record (EMR) with corresponding electrocardiograms (ECG) taken from the body surface and cardiac electrograms (EGM) from within the heart.

Report Scope

Electronic Health Records Market, By Category

Product

• Client-server-based
• Web-based

Type

• Acute
• Ambulatory
• Post-Acute

Application

• Hospitals
• Specialty
• Clinics
• Ambulatory Surgical Centers

Business Models

• Licensed Software
• Technology Resale
• Subscriptions
• Professional Services

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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