Electronic Health Records Market (By Product: Client-server-based, Web-based; By Type: Acute, Ambulatory, Post-acute; By End Use: Hospitals, Ambulatory Care; Business Models: Licensed Softwarem, Technology Resale, Subscriptions, Professional Services, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Electronic Health Records market size is expected to be worth around US$ 37.5 billion by 2030, according to a new report by Vision Research Reports.

The global Electronic Health Records market size was valued at US$ 26.2 billion in 2020 and is anticipated to grow at a CAGR of 3.9% during forecast period 2021 to 2030.

Report Coverage

Growth Factors

 The web-based EHRs are anticipated to witness the fastest growth over the forecast period. These systems are convenient for use in pharmacies, small-scaled laboratories, and clinics, as they require limited hardware infrastructure, which reduces the cost of installation. Electronic Health Records (EHR) vendors and organizations have initiated to help in curbing the pandemic by making telehealth a mainstream alternative, enhancing data access through EHRs, and collaborating to develop Covid-19 dashboards in detail.

The introduction of electronic health records for and billing has eased the process as data entering into computerized systems is more convenient than paper-based methods. These systems also minimize the risk of errors in patient data as well as financial details. As per an independent study at the University of Michigan, the cost of outpatient care reduced by 3.0% upon shifting to EHRs from paper-based records. This reduction resulted in USD 5.14 savings per patient per month. In addition, M&A activities by key companies are also boosting the market growth.

For instance, in February 2021, Evident, LLC, a subsidiary of CPSI announced that Texas-based Curahealth Hospitals and Cobalt Rehabilitation, have selected the Evident EHR along with the collection services TruBridge, for three new rehabilitation facilities located in Denver, Colorado; West Houston, Texas; and San Antonio, Texas. Key players are investing in new product launches and collaborations for sustaining in the market. For instance, in August 2020, Cerner Corp. collaborated with Amazon to integrate its EHR solutions with the latter’s wearables, such as Amazon Halo. This would provide greater interoperability to its customers and strengthen its service portfolio.

Report Highlights

The web-based EHR segment led the market in 2020 and accounted for more than 54% share of the global revenue. This large market share is attributed to the popularity of web-based EHRs among the physicians and healthcare providers, which operate on a smaller scale as these systems can be installed without the requirement of in-house servers and can also offer extensive customizations & improvements, as per need.

The client server-based product segment is anticipated to show significant growth over the forecast period. Client-server-based EHRs provide a safer alternative for users as it offers in-house data storage, hence preventing data theft. These can also be customized as per customer requirements and also are a favorable option in the case of multi-physician facilities. Furthermore, they do not require a stable internet connection unlike the web-based systems, which further drives the segment growth.

The acute type segment held the largest market share of over 47% in 2020. The growth can be attributed to the government initiatives for the adoption of EHRs in small-scale facilities. For instance, acute care hospitals in the U.S., which are covered under the Inpatient Prospective Payment System (IPPS) are eligible for the Medicare incentive payment system.

Ambulatory EHRs are meant for use in outpatient care facilities and small practices. Government support for the adoption of ambulatory EHRs, especially during the Covid-19 pandemic, is expected to boost the market growth. Easy usage as compared to the inpatient systems is expected to drive the segment growth. These EHRs deal with a single practice and its patient, instead of a complex web of hospital departments.

Post-acute EHRs are mainly used for providing rehabilitation services, which patients receive after a stay in an acute care hospital. Post-acute care facilities consist of inpatient rehabilitation centers & hospitals, home health agencies, and long-term care hospitals. Rising spending on post-acute care facilities is anticipated to boost the segment growth.

The professional services segment dominated the market with over 30.0% share in 2020. The rising demand for professional services in the form of project management, clinical process optimization, technical & application expertise, regulatory consulting, and training & education of the workforce of clients for assisting the design & implementation of systems will drive the segment.

This segment was amongst the most affected business models during the Covid-19 pandemic, due to decreased utilization of third-party resources associated with professional services. The licensed software segment is majorly involved in the development and licensing of intellectual property. The intellectual property consists of architectures, executable & referential knowledge, application software, and data & algorithms. This segment was also largely impacted by the pandemic.

The hospital segment held the largest market share of more than 61% in 2020 and will retain the dominance during the forecast period. The growth can be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation is less in hospitals as compared to ambulatory care centers, which also boosts the market growth.

North America accounted for the highest revenue share of over 45% in 2020. The region will remain dominant even during the forecast years due to the policies that support HER adoption and the availability of well-established infrastructure with high digital literacy. In May 2020, the federal government proposed the Federal Health IT Strategic Plan 2020-2025 that mandates the meaningful usage of EHR by healthcare providers.

Asia Pacific is anticipated to be the fastest-growing regional market during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards & services, which is boosting the digitalization of healthcare in the region. The Ministry of Health in China has defined an action plan for usage of services related to e-health across the country encompassing broad areas of medical services, insurance plans, and with a large focus on the adoption of electronic record systems to allow data sharing across the national healthcare system.

Key Players

• Cerner Corp.

• GE Healthcare

• Allscripts Healthcare, LLC

• McKesson Corp.

• Epic Systems Corp.

• NextGen Healthcare, Inc.

• eClinicalWorks

• Medical Information Technology, Inc.

• HMS

• CPSI

• AdvancedMD, Inc.

• DXC Technology Company

• CureMD Healthcare

• Greenway Health, LLC

Market Segmentation

• Product Outlook

  • Client-server-based

  • Web-based

• Type Outlook 

  • Acute

  • Ambulatory

  • Post-acute

• End Use Outlook

  • Hospitals

  • Ambulatory Care

    • Physician’s Clinic

    • Laboratories

    • Pharmacies

• Business Models Outlook 

  • Licensed Software

  • Technology Resale

  • Subscriptions

  • Professional Services

  • Others

• Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • The Netherlands

    • Sweden

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

  • Latin America

    • Brazil

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

The Electronic Health Records market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Electronic Health Records market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Electronic Health Records market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electronic Health Records market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Electronic Health Records market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Electronic Health Records capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Electronic Health Records by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Electronic Health Records market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Electronic Health Records market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Electronic Health Records market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Electronic Health Records industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Electronic Health Records market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Electronic Health Records market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Electronic Health Records market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Electronic Health Records market. These factors have benefited the growth of the global market for Electronic Health Records. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Electronic Health Records. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Electronic Health Records are as follows:

• Historic Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.