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  • Published On : Aug 2022
  • Code : CMI196
  • Industry : Healthcare IT
  • Pages : 210
  • Formats :

Electronic medical record (EMR) is the patient record created by healthcare providers for specific encounters in hospitals and ambulatory environments. EMR is a major data source for electronic health record (EHR). An electronic medical record includes information about a patient's health history, such as diagnoses, medicines, tests, allergies, immunizations, and treatment plans. Electronic medical records (EMRs) are a digital version of the paper charts in the clinician's office. An EMR contains the medical and treatment history of the patients in one practice. EMRs have advantages over paper records. For example, EMRs allow clinicians to track data over time.

Global electronic medical records market is estimated to be valued at US$ 18,040.5 million in 2022 and is expected to exhibit a CAGR of 8.5% during the forecast period (2022-2030).

Figure 1. Global Electronic Medical Records Market Share (%), by Region, 2022

Electronic Medical Records  | Coherent Market Insights

Increasing healthcare expenditure by non-government and government organization is expected to boost growth of the global electronic medical records market over the forecast period.

Increasing healthcare expenditure is expected to boost growth of the global electronic medical records market over the forecast period. For instance, in December 2019, according to the data published by the National Center for Biotechnology Information, electronic health records in the U.S. grew an annual average of 5.4% from 2015 to 2019, totaling US$14.5 billion in 2019. Because of the need for scalability, report authors noted that many healthcare providers purchase electronic health records as a software-as-a-service.

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Electronic Medical Records Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 18,040.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 8.5% 2030 Value Projection: US$ 34,626.5 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Inpatient EMR, Ambulatory EMR
  • By Components: EMR Software, EMR Services
  • By Application: Client Server Setup EMR, Hybrid EMR, Cloud- Base EMR
  • By End User: Hospitals, Specialized Clinics, General Physician Clinics, Ambulatory Surgical Centers
Companies covered:

GE Healthcare, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Computer Programs and System Inc., Medical Information Technology, Inc., Next Gen Healthcare Information Systems, LLC, and Greenway Health, LLC. 

Growth Drivers:
  • Increasing healthcare expenditure by non-government and government organization 
  • Increasing adoption of EMR technology
Restraints & Challenges:
  • High Cost of implementation and maintenance of  Electronic Medical Records
  • Use of EMR gives rise to privacy concerns

Figure 2. Global Electronic Medical Records Market Share (%), by End User, 2022

Electronic Medical Records  | Coherent Market Insights

Increasing adoption of EMR technology is expected to drive the global electronic market growth over the forecast period.

Increasing adoption of EMR technology is expected to drive the global electronic market growth over the forecast period. For instance, in May 2018, Alcon, a subsidiary of Novartis Ag, an ophthalmology company, announced plans to develop SMART Suite digital health platform for cataract surgery using Electronic Medical Records to generate data.

Global Electronic Medical Records Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, medical devices, trades etc.  by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation from one place to another.

However, the COVID-19 pandemic had a negative impact on the global electronic medical records market, owing to the supply chain disruption during COVID- 19 pandemic. For instance, in July 2020, according to the data published by the National Center for Biotechnology Information, despite benefits such as improved patient care coordination and access to patient information, the electronic medical record (EMR) in its current state poses significant barriers to infection preventionists (IP) work efficiency during a pandemic. The 2019 coronavirus disease (COVID-19) pandemic underscores both the importance of IPs to the healthcare system and the need for an ever-strengthening partnership between infection prevention and information technology (IT). The COVID-19 pandemic was a global disruption across trade, finance, health and education systems, businesses and societies like few others in the past 100 years. It is no surprise then that only 2% of companies who responded to the survey said they were fully prepared for the pandemic. Serious disruptions affected 57%, with 72% reporting a negative effect (17% reported a significant negative effect, and 55% mostly negative).

Other sources of disruption include force-majeure events (such as climate change or natural disasters), macroeconomic and political conditions (including trade-policy or regulatory changes), malicious actions (cyber security, intellectual-property theft), and counterparty issues (such as financially fragile suppliers). The restrictions imposed by the governments of different countries had banned import and export from other countries.

Global Electronic Medical Records Market: Key Developments

On July 27 2022, AmerisourceBergen, a wholesale company, had planned to launched DTx Connect to help doctors to dispense digital therapeutics to patients, a fully integrated ordering, dispensing and fulfillment platform that aims to facilitate patient access to physician-ordered digital therapeutics and diagnostics. The AmerisourceBergen Company is launching the new tech as the pipeline of digital therapeutics continues to expand which is expected to launch by 2025.

Global Electronic Medical Records Market: Restraint

The major factors that hinder growth of the global electronic medical records market include high cost of implementation and maintenance of Electronic Medical Records. The costs include, purchase of hardware and software, selecting and contracting costs, and installation cost. Such scenario is expected to hamper growth of the global electronic medical records market. For instance, implementing an EMR system may cost a single physician around US$ 163,765 globally.

Moreover, use of electronic medical records gives rise to privacy concerns as electronic medical records data can be misused intentionally or unintentionally or could be accessed illegally or by unauthorized persons at hospitals, clinics or healthcare facilities. Therefore, privacy and security concerns are also expected to hinder growth of market.

Key Players

Major players operating in the global electronic medical records market include GE Healthcare, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Computer Programs and System Inc., Medical Information Technology, Inc., NextGen Healthcare Information Systems, LLC, and Greenway Health, LLC. 

An electronic medical record (EMR) is a structured collection of patients’ health information in a digital format. These records can be shared across different healthcare settings such as hospitals, clinics, and ambulatory surgical centers. Electronic medical records provide for better decision making by analyzing the patient’s medical history for better diagnosis and treatment. Electronic medical records are designed to improve overall quality and safety of patient care. An EMR is a narrower view of a patient's medical history, while an Electronic Health Records is a more comprehensive report of the patient's overall health. Electronic medical records (EMRs) are digital versions of the paper charts in clinician offices, clinics, and hospitals. EMRs contain notes and information collected by and for the clinicians in their office, clinic, or hospital and are mostly used by healthcare providers for diagnosis and treatment. EMRs are online medical records of the standard medical and clinical data from one provider’s office, mostly used by providers for diagnosis and treatment. Comprehensive and accurate documentation of a patient’s medical history, tests, diagnosis and treatment in EMRs ensures appropriate care throughout the provider’s clinic. Electronic Medical Record (EMRs) are more than just a replacement for paper records. They effectively allow communication and coordination among members of a healthcare team for optimal patient care.

Market Dynamics

Increasing development of integrated healthcare solutions is expected to propel growth of the global electronic medical records market over the forecast period. For instance, in December 2019, Sectra, a medical imaging Information Technology and cybersecurity company, collaborated with Leica Biosystems for developing an integrated clinical pathology solution. The Sectra digital pathology software solution is expected to facilitate integration with leading pathology information systems and EMRs.

Key features of the study:

  • This report provides an in-depth analysis of the global electronic medical records market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global electronic medical records market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include GE Healthcare, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Computer Programs and System Inc., Medical Information Technology, Inc., NextGen Healthcare Information Systems, LLC, and Greenway Health, LLC
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global electronic medical records market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electronic medical records market

Detailed Segmentation:

  • Global Electronic Medical Records Market, By Type:
    • Inpatient EMR
    • Ambulatory EMR
  • Global Electronic Medical Records Market, By Components:
    • EMR Software
    • EMR Services
  • Global Electronic Medical Records Market, By Application:
    • Client Server Setup EMR
    • Hybrid EMR
    • Cloud- Base EMR
  • Global Electronic Medical Records Market, By End User:
    • Hospitals
    • Specialized Clinics
    • General Physician Clinics
    • Ambulatory Surgical Centres
  • Global Electronic Medical Records Market, By Region:
    • North America
      •  By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • GE Healthcare *
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Epic Systems Corporation
    • McKesson Corporation
    • Cerner Corporation
    • Allscripts Healthcare Solutions, Inc.
    • Computer Programs and System Inc.
    • Medical Information Technology, Inc.
    • NextGen Healthcare Information Systems, LLC
    • Greenway Health, LLC.

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

Frequently Asked Questions

The global electronic medical records market size is estimated to be valued at US$ 18040.5 million in 2022 and is expected to exhibit a CAGR of 8.5% between 2022 and 2030.
Factors such as increasing healthcare expenditure by non-government and government organization and increasing adoption of electronic medical records technology are expected to drive the market growth.
Hospitals is the leading end user segment in the market.
The major factors hampering growth of the market include high Cost of implementation and maintenance of Electronic Medical Records and use of EMR gives rise to privacy concerns.
Major players operating in the market include GE Healthcare, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Computer Programs and System Inc., Medical Information Technology, Inc., Next Gen Healthcare Information Systems, LLC, and Greenway Health, LLC.

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