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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Electronic medical records (EMRs) is a part of Electronic Health Records (EHR). Dermatology outpatients include large number of patients with chronic diseases since they need long follow-up durations for cure. Therefore, EMRs in dermatology will be useful in recording dermatological data. EMRs in dermatology also allows streamlined, one-click retrieval of old records, previous investigation reports, medical bills, X-rays, and graphics of affected area on body on which the dermatologist can analyze skin lesions along with rashes, and ulcers.

Dermatology EMR Software Market: Drivers

Increasing awareness for use of EMRs in healthcare sector is expected to propel growth of the dermatology EMR software market. For instance, in November 2017, the Dubai Health Authority (DHA) completed the third and final phase of the unified electronic medical record (EMR) system Salama, in Latifa Hospital, Hatta Hospital, Thalassemia Centre, Dubai Gynecology and Fertility Centre, and all DHA Medical Fitness Centers across the United Arab Emirates (UAE). Salama stores vital patient information such as the medical history of the patient, past surgery details, lab test results, and X-ray reports, which can be easily accessed by any DHA doctor from all DHA facilities across the UAE region.

Moreover, in September 2018, MedX Health Corp., a Canadian company, launched DermSecure, its telemedicine platform, in six Ontario clinics. DermSecure telemedicine platform offers benefits to patients and primary care physicians by working with dermatologists for enhancing their skills in terms of disease diagnosis and treatment.

Furthermore, Apple Inc., in April 2018, launched Apple Health Records feature that combines data of patients’ current heath and data from their past EHR in the health app by using HL7’s Fast Healthcare Interoperability Resource (FHIR) specification. This allow users to know about their drug allergies, medications, and precautions during treatment. It also allow patients to check an EHR patient portal for information such as their laboratory test results. The users need to enter a password to view the information, as the data is encrypted.

Furthermore, advancements in the EMR software is expected to boost growth of the dermatology EMR software market. For instance, in July 2018, Yale School of Medicine in the U.S. developed voice recognition software for EMR, which will reduce time of physicians during patient consulting. Physicians can login once at the start of their shift, which will save physicians time by eliminating 20 to 140 logins per physician per day. This has improved the user experience with EMRs.

Dermatology EMR Software Market: Restraint

Increasing cost of EHR services offered by key players is expected to hamper growth of the dermatology EMR software market. For instance, in February 2018, Practice Fusion, Inc., a company in North America, abandoned its business model that contributed to its popularity, as it was offering free EHR software to physicians when it was acquired by Allscripts in 2018. The company later started charging monthly subscription fee of US$ 100 per physician per month for EMR software. Therefore, maintaining the customer base could be a challenge for the company, as it was earlier offering the same service for free.

Dermatology EMR Software Market: Regional Analysis

On the basis of region, the global dermatology EMR software market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to account for largest market share in the dermatology EMR software market, owing to adoption of EMR software with advanced features in the region. For instance, in July 2018, Modernizing Medicine, Inc., a U.S.-based company, at the American Academy of Dermatology (AAD) 2018 Summer Meeting, declared introduction of EMR software with new features such as, Electronic Medical Assistant, (EMA); a mobile EHR system with touch-and-swipe technology and also features the dermatology electronic health record (EHR) system, including electronic prior authorization (ePA), Real-time Prescription Benefit, and Inventory Management.

Furthermore, in March 2018, Spectralink Corporation, a U.S.-based company, released a new line of smart phones designed specifically for use in healthcare. The Spectralink Versity phones are resistant to water and chemicals. The devices run on the latest Oreo Android operating system and has built-in software to seamlessly integrate them with in-hospital EMRs.

Moreover, mergers and acquisitions in the U.S. is also expected to drive growth of the market. For instance, in June 2017, athenahealth, a cloud-based EHR company, acquired Praxify Technologies in a US$ 63 million deal. Praxify Technologies originates with a number of applications, including a personal assistant program integrated with EHRs and artificial intelligence aimed at patient engagement. This acquisition is expected to improve athenahealth’s performance in providing their services.

Dermatology EMR Software Market: Competitive Analysis

Strategies adopted by key players such as acquisitions in Asia Pacific region is expected to boost growth of the dermatology EMR software market in this region. For instance, in August 2018, Persistent Systems, an India-based company, acquired Herald Health. Herald Health is a software platform that allows various hospital stakeholders to be automatically notified when data in the EHR and other data systems changes.

Key players operating in the dermatology EMR software market include Encite, Inc., MetaOptima Australia Pty Ltd, CureMD Healthcare, CloudPital, CollaborateMD Inc., eClinicalWorks, CompuGroup Medical, mdconnection, and Practice Fusion, Inc.

Dermatology EMR Software Market – Taxonomy

By Deployment

  • Cloud-based
  • On-premise

By End Users

  • Hospitals
  • Specialty Dermatology Clinics
  • Cosmetic and Plastic Surgery Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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