Electronic Medical Records Market Size to Reach Close to US$ 40 Billion by 2024
The report classifies the global Electronic Medical Records Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
(EMAILWIRE.COM, September 16, 2018 ) The global healthcare sector is undergoing a wave of transformation, with digitization being the core focus area of service providers. Healthcare IT products and systems are in high demand in emerging nations such as India, China, Brazil, Indonesia, and also Israel, as part of the ongoing upgrade of healthcare infrastructure in these countries. This is expected to propel growth of the electronic medical records market in these regions. Deployment of EMR systems involves long-term collaboration between the system developer and user. This service offering generates a continuous revenue model for electronic medical record service providers. The global market is therefore expected to grow at a sustainable rate over the foreseeable future.
The question for sustainability of this system arises on account of the existence of electronic health records (EHR), which allows easy access to patient health records irrespective of the time and physical location of the user. The EHR system, however, finds major applicability in large hospitals, and diagnostic centers thus paving the opportunity for EMR in smaller and medium-sized private clinics and health centers, which account for a major share of the healthcare practices.
The global electronic medical records market was valued at US$ 21,444.4 million in 2015 and is expected to witness a CAGR of 6.9% during the forecast period (2016 – 2024).
Global Electronic Medical Records Market, By Product Type:
Inpatient EMR
Outpatient EMR
Global Electronic Medical Records Market, By Component:
Software
Services
Global Electronic Medical Records Market, By Deployment:
On-premise
Cloud-based
Hybrid
Global Electronic Medical Records Market, By End User:
Ambulatory Surgical Centers
Specialized Clinics
Hospitals
General Physician Specialized Clinics
Global Electronic Medical Records Market, By Geography:
North America
Europe
Asia-Pacific
Latin America
Middle East
Africa
Digitization is the new buzzword across industries from apparels, cosmetics, food, electronics, to even pharmaceutical products. Consumers are increasingly inclined towards having all information available at the click of a button. This has urged product and service providers to install digital platforms in their business operations to improve customer satisfaction. With a number of patients visiting clinics, diagnostic laboratories, and hospitals, maintaining patient records is very imperative for these service providers. Electronic medical record (EMR) is a good solution for the healthcare providers to maintain patient records. EMRs ease the practice of healthcare providers and allow for better decision making by analyzing the patient’s medical history. An EMR, however, restricts the usage to healthcare providers, disallowing the access to patients outside the practice location. EMR differs from electronic health records (EHR), as EHR allow access of medical records to patients on the move and is inclusive of all the medical records (treatment, and diagnosis) of the patient. This factor limits the medical decision using EMR.
Patients want secure access of their health information. This would urge healthcare providers to share the electronic health information on different digital platforms. Cloud-based solutions represent growing opportunity for EMR solution. Number of factors are acting against the growth of electronic medical records market –
-Economic challenges in few regions
-Competing priorities for healthcare providers
-Inconsistent return on investment for EMR
Moreover, with time, demand for mobile-based solutions will increase. Therefore, EMR solution developers and providers need to innovate their solutions to sustain in a constantly changing market in terms of technology and demand. Vendors will have to integrate more functionalities in the system aiding to improve medical decision while ensuring integrity and security of data. Thus compliance to Health Insurance Portability and Accountability Act of 1996 (HIPAA) is essential.
Else place an Inquire before Purchase “Electronic Medical Records Market Size, Status and Forecast 2026 : https://www.coherentmarketinsights.com/insight/talk-to-analyst/196
The question for sustainability of this system arises on account of the existence of electronic health records (EHR), which allows easy access to patient health records irrespective of the time and physical location of the user. The EHR system, however, finds major applicability in large hospitals, and diagnostic centers thus paving the opportunity for EMR in smaller and medium-sized private clinics and health centers, which account for a major share of the healthcare practices.
The global electronic medical records market was valued at US$ 21,444.4 million in 2015 and is expected to witness a CAGR of 6.9% during the forecast period (2016 – 2024).
Global Electronic Medical Records Market, By Product Type:
Inpatient EMR
Outpatient EMR
Global Electronic Medical Records Market, By Component:
Software
Services
Global Electronic Medical Records Market, By Deployment:
On-premise
Cloud-based
Hybrid
Global Electronic Medical Records Market, By End User:
Ambulatory Surgical Centers
Specialized Clinics
Hospitals
General Physician Specialized Clinics
Global Electronic Medical Records Market, By Geography:
North America
Europe
Asia-Pacific
Latin America
Middle East
Africa
Digitization is the new buzzword across industries from apparels, cosmetics, food, electronics, to even pharmaceutical products. Consumers are increasingly inclined towards having all information available at the click of a button. This has urged product and service providers to install digital platforms in their business operations to improve customer satisfaction. With a number of patients visiting clinics, diagnostic laboratories, and hospitals, maintaining patient records is very imperative for these service providers. Electronic medical record (EMR) is a good solution for the healthcare providers to maintain patient records. EMRs ease the practice of healthcare providers and allow for better decision making by analyzing the patient’s medical history. An EMR, however, restricts the usage to healthcare providers, disallowing the access to patients outside the practice location. EMR differs from electronic health records (EHR), as EHR allow access of medical records to patients on the move and is inclusive of all the medical records (treatment, and diagnosis) of the patient. This factor limits the medical decision using EMR.
Patients want secure access of their health information. This would urge healthcare providers to share the electronic health information on different digital platforms. Cloud-based solutions represent growing opportunity for EMR solution. Number of factors are acting against the growth of electronic medical records market –
-Economic challenges in few regions
-Competing priorities for healthcare providers
-Inconsistent return on investment for EMR
Moreover, with time, demand for mobile-based solutions will increase. Therefore, EMR solution developers and providers need to innovate their solutions to sustain in a constantly changing market in terms of technology and demand. Vendors will have to integrate more functionalities in the system aiding to improve medical decision while ensuring integrity and security of data. Thus compliance to Health Insurance Portability and Accountability Act of 1996 (HIPAA) is essential.
Else place an Inquire before Purchase “Electronic Medical Records Market Size, Status and Forecast 2026 : https://www.coherentmarketinsights.com/insight/talk-to-analyst/196
Contact Information:
Coherent Market Insights
Mr. Shah
Tel: +1 2067016702
Email us
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This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results
Coherent Market Insights
Mr. Shah
Tel: +1 2067016702
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results