Electronic Medical Records Market, By Product Type (Inpatient EMR and Outpatient EMR), By Component (Software and Services), By Deployment (On-premise, Cloud-based, and Hybrid), By End-user (Ambulatory Surgical Centers, Specialized Clinics, Hospitals, and General Physician Specialized Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis 2019 - 2027

  • Published On : Sep 2019 |
  • Pages : 170 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

(EMR) Electronic Medical Records Market– Insights

Increasing importance of organized healthcare systems is one of the key factors driving growth of global electronic medical records market. Increasing patient population has led to an increasing need for healthcare providers to organize patients’ data. The electronic health records (EHR) or electronic medical records (EMR) help healthcare providers to manage care for patients, and provide better healthcare by storing error free data and patients’ reports for future use. Additionally, awareness among patients’ about benefits of electronic health records also increases adoption of these systems in the healthcare industry.

The EHR have advantages such as less paper work, fewer storage issues, and higher quality of care that helps to increase efficiency and productivity, and better patient care. Owing to these benefits, there has been growing adoption of these technology tools for administrative purposes in the healthcare industry. Growth of the EMR market is attributed to increasing digitization, investment, and standard of healthcare providers.

The pharma companies using EMR technology to collect patient data for the development of personalized healthcare services or treatment platform. For example; in 2018, Alcon a subsidiary of Novartis Ag focused on developing SMART Suite digital health platform for cataract surgery by using data generated by electronic medical record (EMR) systems

The global electronic medical records market size is estimated around US$ 27,185.4 million in 2019, and is expected to witness a CAGR of 6.9% over the forecast period (2019 – 2027).

Global Electronic Medical Records Market Share (%) Analysis, By Patient Type, 2019

Electronic Medical Records  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Increasing adoption of digitalization in healthcare is driving growth of the global electronic medical records market

Increasing digitalization across the globe and adoption of digital tools and technologies in the healthcare system is a major factor boosting growth of the market. The 2009 passage of the Health Information Technology for Economic and Clinical Health (HI-TECH) Act offered system purchase subsidies and reimbursement incentives through Medicare and Medicaid to increase the prevalence of meaningful use of EMR.  Survey of the U.S. Department for Health and Human Services revealed that the number of office physicians using EHR systems increased from 57% to 87% during 2011-2015.

Moreover, government initiatives are driving growth of the EHR market. For instance, in 2015, the government of India launched the Digital India Healthcare initiative to implement health IT products, and its public acceptance is one of the key to implement the vision on digital India. According to the data of Healthcare Information and Management Systems Society, in Asia Pacific, there are eight levels of acceptance of EHR, varying from 0 to 7. In level 0, there is little or no acceptance of EHR, while at level 7, there is complete implementation of EHR. According to the Healthcare Information and Management Systems Society (HIMSS) analysis adoption model of EHR in India, by the end of 2016, only 2.6% of hospitals crossed level 6. By 2020, at stage 7, around 1.5% of the hospitals of India are measured completely functioning.

Electronic Medical Records Market – Restraints

Privacy and security issues are the major factors restraining growth of the global medical records market. The EMR system has huge patient clinical data, which is consider as threat if it falls on wrong hands. Increasing need for patient privacy and security of personal clinical data is hindering growth of this market. Moreover, concerns regarding the affordability of EMR systems in emerging economies is estimated to hamper the market growth.

Electronic Medical Records Market - Regional Insights

On the basis of region, the global electronic medical records market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among region, North America is expected to hold a dominant position in the global EHR market, owing to increasing inclination of patients towards gaining easy access to their medical records through digital modes. Moreover, this factor has resulted in upgradation of existing EMR systems for more efficiency in offering patient care. For instance, Catholic Health Services (CHS) and University of Maryland Medical System (UMMS) achieved Stage six recognition (almost fully automated/paperless medical records) by the Healthcare Information and Management Systems Society (HIMSS) Analytics in March 2017. Thus, demand for better technology-enabled care is expected to drive growth of the electronic medical records market over the forecast period.

Asia Pacific is expected to witness rapid growth in the EHR market. Owing to increasing upgrades of existing healthcare infrastructure in this region, healthcare IT products and systems are in high demand in emerging economies such as India, China, Brazil, and Indonesia. This is expected to propel growth of the electronic medical records market in these countries. 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 forecast period.

Global Electronic Medical Records Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Electronic Medical Records  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Electronic Medical Records Market - Competitive Landscape

Major players operating in the global electronic medical records market include Cerner Corporation, Allscripts-Misys Healthcare Solutions Inc., McKesson Corporation, Quadramed Corporation, Medical Information Technology Inc., Sage Software Healthcare Inc., Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation, and GE Healthcare.

An electronic medical record (EMR) is a systematized collection of patients’ health information in a digital format. These records can be shared across different healthcare settings. Digitization is adopted in various industries such as apparels, cosmetics, food, electronics, and pharmaceuticals. There is increasing inclination among consumers towards EMR systems in order to avail information with ease. This has led product and service providers to install digital platforms in business operations to improve customer satisfaction. There has been increasing need to maintain patient records systematically owing to an increase in the number of patient visits to clinics, diagnostic laboratories, and hospitals.

EMRs ease the practice of healthcare providers and allow them for better decision making by analyzing the patient’s medical history. An EMR, however, restricts the usage to healthcare providers, prohibiting the access to patients outside the practice location. EMR differs from electronic health records (EHR), as EHR allows 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.

Market Dynamics

Ever-evolving patient needs completed by easy to access EMR. Patients demand efficient healthcare service with proper access to medical records. Hospitals, clinics, diagnostic laboratories, and ambulatory centres are constantly improving their healthcare infrastructure. Installation of electronic medical record system significantly reduces physician’s time and improves decision making. A digital mode of storing patient’s medical records allows the physician to revisit the patient’s medical history under his/her medical therapy and guidance. Increasing inclination of patients towards gaining easy access to their medical records through digital mode is expected to increase implementation of these electronic medical records.

On the other hand, inconsistent return on EMR systems is expected to hinder the market growth. The risk associated with chronic diseases such as obesity, cardiovascular attack, neurological conditions, and cancer increases with age. This further leads to patient visits to specialty centers or hospitals for the treatment and monitoring of such diseases and data being stored in the electronic medical record system increases with multiple doctor visits. Therefore, quantifying monetary return on EMR systems is one of the major challenges faced by the healthcare facilities.

Key features of the study:

  • This report provides in-depth analysis of the market, electronic medical record market size (US$ Mn), and compound annual growth rate (CAGR (%)) over the forecast period: 2019 – 2027, considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global electronic medical record market based on the following parameters – company overview, financial performance, product portfolio, geographical presence,  key developments, and strategies
  • Key players covered as a part of this study include Cerner Corporation, Allscripts-Misys Healthcare Solutions Inc., McKesson Corporation, Quadramed Corporation, Medical Information Technology Inc., Sage Software Healthcare Inc., Greenway Health, LLC, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation, and GE Healthcare
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to future product launches, government initiatives, market expansion, and marketing tactics
  • The global electronic medical record market report caters to various stakeholders in this industry, which include investors, manufacturers, and suppliers of electronic medical record, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

  • Global Electronic Medical Record   Market, By Patient Type :
    • Inpatient
    • Outpatient  
  • Global Electronic Medical Record  market, By Component:
    • Software  
    • Services  
  • Global Electronic Medical Record Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End User
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End User
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End User
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End User
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End User
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Product Type
        • Inpatient
        • Outpatient 
      • By Component
        • Software 
        • Services 
      • By Deployment
        • On-premise
        • Cloud-based
        • Hybrid
      • By End-user
        • Hospitals
        • Specialized Clinics
        • Ambulatory Surgical Centers
        • General Physician Specialized Clinics
    • Company Profiles
      • Cerner Corporation *
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Allscripts-Misys Healthcare Solutions Inc.
      • McKesson Corporation
      • Quadramed Corporation
      • Medical Information Technology Inc.
      • Sage Software Healthcare Inc.
      • Greenway Health, LLC
      • NextGen Healthcare Information Systems, LLC
      • Epic Systems Corporation
      • GE Healthcare

“*” marked represents similar segmentation in other categories in the respective section

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Component
      • Market Snippet, By Application
      • Market Snippet, By Deployment
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Key Developments
    • Regulatory Landscape
    • Porter’s Five Forces Model
  4. Global Electronic Medical Records Market, By Patient Type, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • In-patient
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Outpatient
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
  5. Global Electronic Medical Records Market, By Component, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Software
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
  6. Global Electronic Medical Records Market, By Application, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • E-prescription
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Practice management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Referral management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Patient management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Population health management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
  7. Global Electronic Medical Records Market, By Deployment, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • On-Premise
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Cloud Based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Hybrid
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
  8. Global Electronic Medical Records Market, By End User, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Specialized Clinics
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
    • General Physician Specialized Clinics
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2027, (US$ Million)
  9. Global Electronic Medical Records Market, By Region, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017– 2027
      • Regional Trends
    • North America
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Component, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Deployment, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By End User, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • South Africa
        • North Africa
        • Central Africa
  10. Competitive Landscape
    • Company Profiles
      • Invacare Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Cerner Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Allscripts-Misys Healthcare Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • McKesson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Quadramed Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Medical Information Technology Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Sage Software Healthcare Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Greenway Health, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • NextGen Healthcare Information Systems, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Epic Systems Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  11. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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