Electronic Medical Records Market Trend- Rapid Advancements in Electronic Medical Record Systems
Increasing patient pool across the globe, rising need for maintaining large medical records, and increasing investments in research and development activities are expected to drive global market growth
An electronic medical record (EMR) is a digital system that helps in creating, gathering, and managing health-related information, authorized by clinicians and staff within a healthcare organization. EMR helps to facilitate workflow and improve patient care services and patient safety. This system helps physicians to access patient’s medical history and information such as allergies, diagnoses, test results, and medications at anytime from anywhere.
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Factors such as rising need for efficient and smooth functioning healthcare systems, increasing investments in research and development activities, and growing demand for advanced electronic medical record systems and software in hospitals, clinics, and other healthcare facilities are expected to drive global market revenue growth during the forecast period.
However, high initial investments and maintenance costs, lack of skilled healthcare professionals, and rising concerns about data privacy and security are some key factors expected to hamper overall market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Inpatient EMR Segment to Account for Significantly Larger Revenue Share:
The impatient EMR segment is expected to account for significantly larger revenue share during the forecast period. This can be attributed to increasing patient admission in hospitals, rapid adoption of advanced solutions for maintaining and storing large medical records, and rising investments in the healthcare sector.
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Ambulatory Surgical Centers Segment To Register Rapid Revenue CAGR:
The ambulatory surgical centers segment is expected to register rapid revenue CAGR during the forecast period owing to rising number of ambulatory care centers across the globe, high preference for outpatient services, and rapid adoption of ambulatory EMR to record and access information of out-patients.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period. This can be attributed to factors such as increasing patient pool, rapid advancements in Electronic Medical Records (EMR), rising awareness about benefits of advanced EMR solutions, presence of leading companies, and increasing investments in R&D activities.
Major Companies in the Market Include:
- Epic Systems Corporation
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- NextGen Healthcare, Inc.
- McKesson Corporation
- CureMD Healthcare
- Greenway Health, LLC
- GE Healthcare
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For the purpose of this report, the global electronic medical records market has been segmented into product type, component, application and region:
Product Type Outlook (Revenue, USD Billion; 2017–2027)
- Inpatient EMR
- Outpatient EMR
Component Outlook (Revenue, USD Billion; 2017–2027)
Application Outlook (Revenue, USD Billion; 2017–2027)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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