Electronic Health Records Market is Expected to Generate Huge Profits By 2027 | Emergen Research
Electronic Health Records are a systemized collection of crucial health information about the patient and population, essentially a digitized paper chart of a patient. Electronic health records are patient-centric documents that facilitate easy availability and retrieval of vital information to authorized personnel. EHRs improve patient care outcomes by reducing the probability of medical errors, duplication of documents, delays in treatments, and improves the clarity of the medical records.
Growing focus on improving the quality of patient care and rapid digitization of medical records are expected to drive market revenue growth. The universal adoption of EHRs has the potential to offer population-scale real-world clinical data that is easily accessible for biomedical research. Electronic health records contain patient-level data that is collection during and for clinical care and includes comprehensive information about diagnostic billing codes, procedure codes, laboratory test results, clinical imaging, vital signs, and physician notes.
The Global Market revenue growth is also driven by increase in application of bio-banked samples. Biobanks focusing on plants, animals, and microbes are evolving rapidly. Different types of biobanks are gaining traction, such as disease-centric biobanks, population-based banks, DNA/RNA banks, genetic banks, tissue banks, blood banks, virtual biobanks, stem cell banks, microbiome banks, and others, which is driving market revenue growth. Biobanks enable access to large pool of high-quality samples and associated data.
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Electronic health records (EHRs) are now being created, used, edited, and viewed by multiple independent entities such as primary care physicians, hospitals, patients and insurance companies. EHRs are widely used in primary care exam rooms to register and access records of patients along with online medical information and decision making-tools and these EHRs have changed the dynamics of patient-clinician interaction by facilitating seamless communication through email, virtual consults, and telemedicine.
Electronic Health Records Market: Competitive Landscape
The prominent players operating in the Electronic Health Records Market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Electronic Health Records Market.
Some of the prominent players operating in the market are:
- Epic Systems
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- NextGen Healthcare, Inc.
- Greenway Health
- Canon Medical Systems Corporation
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The Electronic Health Records Market report takes a closer view of the global Electronic Health Records Market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines Electronic Health Records Market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Electronic Health Records Market .
Services segment :
Services segment is expected to register rapid revenue growth rate during the forecast period owing to rising demand for storage services. Increase in stem cell biobanking is gaining traction in recent years due to rising awareness regarding therapeutic benefits of stem cells and increased investment in stem cell-based research. Increasing number of clinical trials for development of regenerative medicines to treat rare and chronic diseases is also driving revenue growth of this segment.
COVID-19 Impact on Electronic Health Records Market
The report offers extensive coverage of the impact of the COVID-19 pandemic on the Electronic Health Records Market. The pandemic has affected numerous industry verticals; some have suffered a negative impact; some have gained from the pandemic. The Electronic Health Records Market has observed a substantial growth during the pandemic owing to an exponentially rising patient pool of coronavirus infection. Along with a rise in coronavirus infections, increasing incidences of comorbidities was also noted. It further increased the patient pool in the hospitals and clinics, thereby driving the need for EHRs. This, in turn, contributed to the growth of the market.
Emergen Research has segmented the global Electronic Health Records Market Are as :
Emergen Research has segmented the global Market on the basis of product & services, sample type, storage type, application, and region:
- Web/Cloud-based EHR Software
- On-premise EHR Software
- Ambulatory Surgical Centers
- Specialty Centers
Regional Bifurcation of the Electronic Health Records Market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is the aim of the report?
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Electronic Health Records Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
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