Global Electronic Medical Records Market, by Type (Inpatient EMR and Outpatient EMR), By Component (Software and Services), By Application (Client Server Setup EMR, Hybrid EMR, Cloud- Base EMR), By End-user (Hospitals, Specialized Clinics, General Physician Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.

Machine learning is being used with Electronic Medical Records data to predict chronic diseases such as dementia. For instance, in December 2019, researchers from Indiana University Purdue University at Indianapolis reported that EMR routine care data can be used to predict dementia. The research was published in the journal Artificial Intelligence in Medicine. Lab integration through Laboratory Information System (LIS) is a major trend enabling labs and imaging centers to send and receive orders electronically. This platform allows interaction by multiple physicians using different EMR systems.  

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

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a negative impact on the global electronic medical records market, owing to slow down of production of electronic medical records. For instance, in April 2021, according to the data published by the World Health Organization, it was revealed that over one year into the COVID-19 pandemic, substantial disruptions persist, with about 90% of countries still reporting one or more disruptions to essential health services, marking no substantial global change since the first survey conducted in the May of 2020. Countries are still having to make important decisions when responding to COVID-19 that may negatively affect access to care for other health issues. Redeployment of staff to provide COVID-19 relief and temporary closures of health facilities and services continue. During COVID -19 all the healthcare professionals and manufacturers of the pharmaceutical industries were focused on manufacturing vaccines for coronavirus. The raw material supply were restricted across the countries due to lockdown imposed to prevent spreading of infection.

Global Electronic Medical Records Market: Key Developments

In May 2022, Broadcom Inc., a, develops and supplies semiconductor and infrastructure software solutions acquired global technology company that designs VMware, Inc., a provider of multi-cloud services for all apps, pioneered virtualization technology for medical recpord. This acquisition would help Broadcom to extend its capacity to store the medical records and inculcate new advanced technologies from clouds.

In July 2021, Google Cloud, a technology company, launched a new tool called the healthcare data engine, currently in private preview, that helps healthcare and life sciences organizations harmonize data from multiple sources, including medical records, claims, clinical trials and research data. Google Cloud developed the healthcare data engine to make it easier for healthcare and life sciences organizations to bring together their data silos to innovate and improve health outcomes. The technology builds on the core capabilities Google started offering in 2020 year with its Cloud Healthcare Active Pharmaceutical Ingredient, a technology tool that will make it easier for health systems and providers to connect data across different sources and share those data with patients. The healthcare data engine can map more than 90% of Health Level 7 (HL7) v. messages to Fast Healthcare Interoperability Resource (FHIR) standards—such as medication orders or patient updates, across leading electronic health records (EHRs) out of the box.  Fast Healthcare Interoperability Resource is the data standard specified in federal interoperability regulations.

Browse 42 Market Data Tables and 44 Figures spread through 210 Pages and in-depth TOC on “Global Electronic Medical Records Market”-  Forecast to 2030, Global Electronic Medical Records Market, By Product Type (Inpatient EMR and Outpatient EMR), By Component (Software and Services), By Application (Client Server Setup EMR, Hybrid EMR, Cloud- Base EMR), By End-user (Hospitals, Specialized Clinics, General Physician Clinics, Ambulatory Surgical Centers),  and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/electronic-medical-records-market-196

Key Takeaways of the Global Electronic Medical Records Market:

  • Global electronic medical records market is expected to exhibit a CAGR of 8.5% during the forecast period due to key players in market focusing on product expansion to enhance their market share. For instance, in December 2019, Southwest Transplant Alliance (STA), nonprofit organization for organ donation announced an initiative to expand its automated electronic referral technology to health systems throughout the state of Texas, US. The system automatically connects to a hospital's EMR.
  • Among Components, the Electronic Medical Records Software segment is estimated to hold a dominant position in the global electronic medical records market over the forecast period, owing to the increased demand of software associated electronic medical records. For instance, in July 2020, according to the data published by the National Center for Biotechnology Information, the world had been in demand for the healthcare industry and the future of EHR and EMR. The arrival of COVID-19 showed just how valuable digital solutions are for solving the numerous challenges facing healthcare institutions. Digital technologies took center stage, and they are here to stay. Electronic medical records, managed with EMR software. Telehealth has become the norm rather than the exception. The futures of EHR and EMR hold a lot of promise with better care for patients and ease of providing superior care with physicians and medical facilities using digital technologies.
  • Among regions, North America is estimated to account for the largest market share in the global electronic medical records market over the forecast period, owing to the increasing adoption of inorganic strategies such as partnership by key players. For instance, in October 2019, electronic medical record vendor, Suncoast, a union based in U.S. partnered with Hospice of the Western Reserve, based in the U.S. and pharmacy provider, Delta Care Rx in order to enhance clinician workflow.
  • 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.

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