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Electronic Health Record Market to achieve over 5.5% CAGR up to 2025: Global Market Insights, Inc.
SELBYVILLE, Delaware, Oct. 9, 2019 /PRNewswire/ -- Global Electronic Health Record Market is expected to cross USD 38 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing government expenditure and funding for the development of healthcare IT solution for better understanding of diagnosis and treatment pattern will contribute to considerable EHR market growth over projected timeframe. Additionally, rising internet penetration and campaigns conducted to increase awareness about the importance and benefit of EHR among the doctor community will significantly expand the business size. Thus, growing awareness of EHR in hospitals and healthcare settings will accelerate the demand for electronic medical record systems over forthcoming years.
Increasing implementation of electronic health records will foster the global electronic health records industry growth in the upcoming period. Electronic healthcare records are used for systematic collection of patient's health records in a digital format for better understanding of diagnosis and clinical treatment procedure. Rising adoption of electronic healthcare record for streamlining workflow and enhancing patient care delivery will positively impact adoption of electronic medical records in the forthcoming years.
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However, dearth of capable professionals to handle advanced technology and high cost of EHR systems may hamper the market growth over the upcoming years.
On-premise EHR software market held more than 48% revenue share in 2018. Simultaneous access to multiple users, automation of elimination of redundant processes coupled with better safety of patient information are the major factors attributable to the segmental growth. Rising advancements in EHR technology such as increased work efficiency in controlled medical vocabulary and clinical decision support system should drive the consumer preference for on-premise EHR.
E-prescription application market is estimated to witness considerable growth over forecast period at 6.3% CAGR. E-prescription offers alternatives to the pharmacists to choose among various generic drugs as well as potentially allergic reactions. This feature enables safe and reliable documentation with less errors owing to illegible writing style of the prescribers. Additionally, flexibility of management of broad range of data points in drug store management will offer attractive growth opportunity for e-prescription market growth in the future years.
Electronic Health Record Market, By Application
1.1. Key segment trends
1.2.1. Market size, by region, 2014-2025 (USD Million)
1.3. Practice management
1.3.1. Market size, by region, 2014-2025 (USD Million)
1.4. Referral management
1.4.1. Market size, by region, 2014-2025 (USD Million)
1.5. Patient management
1.5.1. Market size, by region, 2014-2025 (USD Million)
1.6. Population health management
1.6.1. Market size, by region, 2014-2025 (USD Million)
1.7.1. Market size, by region, 2014-2025 (USD Million)
Browse key industry insights spread across 157 pages with 174 market data tables & 12 figures & charts from the report, "Electronic Health Record Market Size By Product (Web/Cloud Based EHR Software, On-premise EHR Software), By Application (E-prescription, Practice Management, Referral Management, Patient Management, Population Health Management), By End-use (Hospitals, Specialty Centers, Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Country Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Japan, China, India, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
Specialty centers segment of electronic health record market accounted for USD 3.5 billion market size in 2018. Escalating demand for diagnostics owing to rising prevalence of genetic and orphan disease forms the major impact factor in adoption of electronic solutions. Presence of special software for specialty centers further drives its adoption rate among specialty centers over the forthcoming years. Furthermore, developing healthcare infrastructure in emerging economies should augment the segmental growth in the forecast years.
Canadian electronic health record market will witness rapid growth at 4.3% CAGR in upcoming years. Rising implementation of EHR in the Canada across all physicians and healthcare providers will pose to be high market growth impacting factor. Rising number of pharmacovigilance research organizations and hospitals will increase the demand for EHR system software. Furthermore, presence of established market players in the nation will highly impact Canadian electronic health record industry size in upcoming years.
Indian EHR market held over 18.0% market share in 2018 and will witness progressive growth over forecasted period. Wide accessibility of EHR in specialty centers and hospital attached research centers will spur the market growth over upcoming years. Several providers of electronic health record systems in India are focusing on innovation of EHR. Furthermore, growing awareness pertaining to the benefits of electronic health record will expand India electronic health record market growth over coming years.
Few notable players operating in electronic health record market are Allscripts, Cerner, eClinicalWorks, GE Healthcare and Epic Systems among the other industry players. Companies are implementing new product launch and product improvement strategy for capturing higher market share.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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