Electronic Health Records Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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Electronic Health Records Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : January, 2023 | Healthcare IT

Report Digest

Electronic Health Records Market: Overview

Electronic Health Records (EHRs) now form a key part of clinical decision support system and process automation in healthcare industry. Worldwide, hospitals and clinics over the decades have adopted some kind of EHRs in their patient-clinician workflow for the potential care benefits, including streamlining the whole process. These are patient-centered records mand typically include visit history, diagnoses done, medications recommended, treatment plans, immunization dates, and collate radiology images, results at laboratory and at healthcare’s site.

The EHRs are wide in scope with containing a history of allergies and any health-related information that can be beneficial to clinical practice. The EHRs market has evolved on the back of the trend of leveraging healthcare IT to improve the delivery of patient care across the continuum. Another key benefit is patient safety and the information is useful for improving access to health care.

The study on the Electronic Health Records (EHRs) market presents a detailed assessment of outlook of the market and emerging avenues by making a detailed segmentation. It includes the key drivers and restraints, emerging avenues, the underpinning regional regulations, major adoption trends in the historical period, and the competitive dynamics shaping the product development trends.

Electronic Health Records Market: Key Trends

The drive for boosting the quality of patient care at affordable costs is a key trend fueling the revenue potential of the EHRs market. Its adoption has reduced medication errors, as the focus on clinical documentation accuracy and the completeness of medical records gets starker. The growing role of EHRs in real-time clinical support systems is a key trend bolstering the expansion of the opportunities. Over the years, EHRs have been able to modify clinical decision. A case in point is its value in deciding the effective approach for anesthesia management. The ambit of EHRs are fast expanding, with healthcare IT companies relentlessly looking to offer higher functionality to end users at lower costs.

Currently the Covid-19 has been a robust driver for new avenues in the EHRs market, with even small healthcare providers preferring digitalization of their processes and digitization of all the medical records. The use of EHRs to adhere to clinical guidelines

Electronic Health Records Market: Competitive Dynamics and Key Developments

Strides made in data mining opportunities have raised the ante for players in the EHRs market. Healthcare IT companies are unceasingly working on improving the effectiveness of the system. They are making their system compatible with advanced healthcare services. A growing number of solution providers and system developers are targeting clinics and ambulatory clinical centers to consolidate their revenue potential over the forecast period. Rise in demand for ICU care in recent months imparted a new avenue for growth of the healthcare IT developers operating in the EHRs market.

Some of the prominent industry stakeholders in the EHRs market are

  • HMS Holdings Corp.
  • DXC Technology Company
  • Greenway Health, LLC
  • CureMD Healthcare
  • AdvancedMD, Inc.
  • NextGen Healthcare, Inc.
  • McKesson Corp.
  • Cerner Corp.

Electronic Health Records Market: Regional Assessment

On the regional front, North America has generated huge revenues to the global EHRs market. A key driver has been the rapid uptake across the healthcare industry in developed economies of the region. Meanwhile, over the decade, Asia Pacific has been witnessing rapidly growing demand among hospitals. Governments’ focus on boosting the healthcare infrastructure and the rapid penetration of IT in healthcare are key factors that have fueled growth prospects of the regional market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?