Fact.MR has provided detailed information about the price points of key electronic health record solution providers positioned across regions in the U.S., sales growth, production capacity, and speculative technological expansion, in the recently published report.
EHR Software Leads The Market With 62.3% And The Segment Is Projected To Rise At 4.6% CAGR Over The Decade.
Fact.MR has provided detailed information about the price points of key electronic health record solution providers positioned across regions in the U.S., sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: The U.S. electronic health records market registered yearly growth of 2.8% during 2017-2021. The market is predicted to register 4.3% CAGR and exceeding a market valuation of US$ 12.4 billion by the end of 2032, according to Fact.MR, a market research and competitive intelligence provider.
Artificial intelligence is doing wonders by assisting specialists and physicians in the diagnosis and recognizing the condition of patients. Key market players are focusing on incorporating artificial intelligence via voice recognition capabilities in electronic health records (EHRs). For example, a physician can access a voice-enabled EHR to analyse and understand a patient’s last recorded medical history and know whether they are in a healthy range or not.
Companies have started working on implementing this technology to create next-generation EHRs. The implementation of such AI-based electronic health records is set to strongly support revenue generation and spur market growth in the United States over the coming years.
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Key Takeaways from Market Study
- The electronic health records market in the United States is estimated at US$ 8.1 billion in 2022 and projected to expand at of 4.3% CAGR through 2032.
- From 2017 to 2021, the U.S. electronic health records market witnessed a CAGR of 2.8%.
- Under solution, EHR software holds 62.3% share in the market.
- Hospitals dominate the market by holding 29.8% share. The segment is likely to expand at a CAGR of 4.9% over the assessment period.
- West U.S. dominates the market with 26.7% share.
- West U.S. and South-West U.S. together hold 51% share in the United States market.
“Rising number of ambulatory care centres providing convenience to patients and healthcare providers is expected to drive demand for electronic health record solutions in the United States,” says a Fact.MR analyst.
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Competitive Landscape
Increasing research & developmental activities along with constant technological innovations by prominent companies will support their growth in the market in the long run.
- Oracle Corporation agreed to acquire Cerner Corporation in 2021. The company is a leading provider of digital information systems that are used in hospitals, enabling medical professionals to deliver better healthcare.
- Constellation Software Inc. agreed to acquire Allscripts Healthcare Solutions in 2022. This acquisition is likely to be a cornerstone for the company providing key strategic components to become a digital health leader, benefitting customers over the coming years.
Market Developments
Prominent players in the electronic health records market in the United States are emphasizing capacity expansion and expanding their footprints to leverage the lucrative opportunities in the market.
Companies are also undertaking acquisitions as part of their strategy to take advantage of the opportunities on offer in the electronic health records market.
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U.S. Electronic Health Records Industry Research Categorization
- U.S. Electronic Health Records Market by Solution:
- EHR Software
- Cloud-based EHR
- On-premise EHR
- Services
- Consulting
- Implementation & Integration
- Support & Maintenance
- EHR Software
- U.S. Electronic Health Records Market by End Use:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Diagnostic Labs
- Others
- U.S. Electronic Health Records Market by Region:
- West U.S.
- South-West U.S.
- Mid-West U.S.
- North-East U.S.
- South-East U.S.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the US electronic health records market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by solution (EHR software (cloud-based EHR, on-premise EHR), services (consulting, implementation, support & maintenance)) and end use (hospitals, specialty clinics, ambulatory surgical centres, diagnostic labs, others), across major regions of the United States (West U.S., South-West U.S., Mid-West U.S., North-East U.S., and South-East U.S.).
Fact.MR’s Domain Knowledge in Healthcare Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 Billion-plus data points, the team has analysed the technology division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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