Electronic Health Records Market Size By Product (Web/Cloud Based EHR Software, On-premise EHR Software), By Application (E-prescription, Practice Management, Referral Management, Patient Management, Population Health Management), By End-Use (Hospitals, Specialty Centres, Clinics, Ambulatory Surgical Centres) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, China, India, Japan, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Mar 2019 | Report ID: GMI3130 | Authors: Sumant Ugalmugale, Rupali Swain Report Format: PDF

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Industry Trends

Electronic Health Records Market size was valued at over USD 25.8 billion in 2018 and is expected to witness growth of over 5.5% CAGR from 2019 to 2025.

U.S. Electronic Health Records Market, By Product, 2018 & 2025 (USD Mn)
U.S. Electronic Health Records Market, By Product, 2018 & 2025 (USD Mn)

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Growing implementation of policies and programs by the government of various countries across the world to integrate electronic health record system will impel the global electronic health records market growth over the coming years. For instance, The New Health Information System in Italy has been implemented from the year 2002, that aims at establishment of a widespread system of EHR that connects each level of care. Similarly, the Australian government put forth Australia's National Digital Health Strategy for safe, secure and seamless digital health. Such strategies will expand electronic health record (EHR) market growth over the forthcoming years.

Increasing expenditure on healthcare, especially in emerging nations will boost electronic health record business growth. According to the Canadian Institute of Health Informatics (CIHI), Canada is spending 1.7% of the GDP more each year on healthcare, since 2014. In addition, growing spending on healthcare information technology will stimulate adoption of EHR in the upcoming period. In 2014, the UK government announced an additional USD 5.4 bn healthcare information technology investment during the five-year period that aimed at assisting digitalization along with interoperability. Hence, rising expenditure in developed as well as developing countries on healthcare, especially on health IT will positively impact electronic health record industry growth over the foreseeable future.

Electronic health records market growth will further accelerate owing to rising funding and grants available across countries to adopt EHR. The Centers for Medicare & Medicaid Services provides incentive payments to qualified providers that establish the meaningful use of electronic health record (EHR). Similarly, in several other emerging countries, the government and the private payers offer financial aids to implement EHR that will influence electronic health records market size over the forthcoming years.

However, high investment for implementation of electronic health record is a considerable barrier for EHR market growth. In addition, lack of standardised regulations and guidelines may restrain electronic health record industry growth in the upcoming years.

Electronic Health Records Market, By Product

Web/cloud based EHR software market will witness robust growth at 8.3% CAGR over the forecast timeframe. Cloud-based EHR offers enhanced agility and elasticity to its users in terms of its usability. Access to multiple users at the same time and broad access to network further benefits the end-users that should drive the customer preference over the on-premise EHR software. Moreover, cloud-based EHR software reduces significant cost component that will spur its adoption rate over the coming years.

On-premise EHR software market accounted for USD 12,566.5 million in 2018. The on-premise EHR software is secure and reliable as the in-house information technology team has access to the EHR applications. The control of the patient and facility data is with the healthcare organization that makes the software safer to use. Such EHR software can function offline that significantly reduces internet costs as well as overcomes the barrier of usability during power discharge. Thus, aforementioned advantages associated with on-premise EHR software positively impacts on-premise EHR software market growth in the upcoming years.

Electronic Health Records Market, By Application

Practice management EHR application market accounted for over USD 6.9 billion segmental size in 2018. Practice management through electronic health record helps the medical health practitioner to improve documentation, data storage and prevents errors. Practice management EHR application is beneficial in terms of cost, as considerable cost savings are achieved. EHR-enabled practice management offers enhanced practice management that results into time savings. Such benefits will increase the application size of EHR for practice management, thereby expanding practice management EHR application segmental size.

E-prescription EHR market will progress at significant pace of 6.4% CAGR during the projected timeframe. Increasing adoption of e-prescribing through EHR platforms in countries such as U.S. will stimulate e-prescription EHR application segmental growth. As per the Office of the National Coordinator for Health Information Technology, the percent of physicians utilizing e-prescribing has significantly grown since 2008. Such trends in e-prescribing, attributable to higher convenience will spur e-prescription electronic health record (EHR) application market growth in the foreseeable future.

UK Electronic Health Records Market Size, By Application, 2018 (USD Million)
UK Electronic Health Records Market Size, By Application, 2018 (USD Million)

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Electronic Health Records Market, By End-use

Hospitals electronic health record (EHR) end-use segment accounted for the largest market share of more than 40% in 2018. Over 4,700 hospitals across U.S. implemented electronic health record system during 2012-2016. Thus, high implementation and replacement rate of EHR in developed nations will highly impact hospitals EHR end-use market growth. Several hospitals are also investing in collaborations and partnerships with EHR providers. Additionally, presence of sophisticated infrastructure and skilled resources in hospital settings will augment hospital end-use segmental size in the forthcoming years.

Ambulatory surgical centres electronic health records market is projected to pace at 6.5% CAGR throughout the forecast timeframe. Increasing adoption of EHR in ambulatory surgical centres will offer robust segmental growth in coming years. Rising availability of specialized ambulatory EHRs will increase the implementation of electronic health record in the coming period. Furthermore, augmented physician efficiency coupled with cost-effectiveness will assist ambulatory surgical centres electronic health record (EHR) end-use market growth over the forecast timeframe.

Electronic Health Records Market, By Region

U.S. EHR market accounted for the largest revenue share of over 90% of the North America industry. High healthcare IT expenditure coupled with rising adoption of electronic health record across healthcare facilities in the U.S. will expand U.S. EHR industry size. Availability of incentives, proper regulations and infrastructure for adoption of EHR further accelerates demand for the technology. Furthermore, high EHR adoption rate along with increasing replacement rate will augment U.S. electronic health record (EHR) industry growth in the foreseeable future.

India EHR market is forecasted to proceed at 9.6% CAGR in the forecast period. Expanding utilization of digital products across the nation should spur Indian market size. Initiatives such as ‘The Digital India Healthcare’, by the Indian government will highly impact adoption of EHR in the country. Moreover, several hospitals such as Apollo Hospitals, are undertaking collaborations with health IT vendors to install novel IT solutions such as electronic health record, patient health record, electronic medical record, mobile healthcare and other technologies. Such trends will positively impact Indian electronic health record (EHR) business growth over the projected period.

Asia Pacific Electronic Health Records Market Size, By Country, 2025 (USD Million)
Asia Pacific Electronic Health Records Market Size, By Country, 2025 (USD Mi

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Competitive Market Share

Major organizations operating in EHR market include Allscripts, Epic Systems Corporation, eClinicalWorks, Cerner and NextGen Healthcare. These organizations are emphasizing on geographical expansion and partnerships to earn profits and increase company’s reach in EHR market. For instance, in November 2018, Epic signed an agreement with Pacific Dental Services, the first dental support organization to implement the company’s EHR technology. This agreement will help the company to expand its existing client base and thereby explore new market opportunities.

Electronic Health Record (EHR) Industry Background

Electronic Health Records Market Segmentation

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Electronic health record (EHR) industry commenced during the 1960s. About 73 hospitals and healthcare information projects were in the development phase, as reported by Summerfield and Empey in 1965. Some of the oldest EHRs include COSTAR, HELP, TDS, TEHRESA including a few others. However, the projects lacked some technical and program issues. Subsequently, advancement and development in medical records successively led to gradual implementation of these systems by hospitals for systematic and comprehensive medical records. Several countries including Denmark, the Netherlands, the U.S. and Australia rapidly adopted EHR systems. Increasing focus on healthcare IT, national policies and standardisation of regulations for EHR systems led to robust EHR industry growth. In future, countries such as India, Spain, South Africa, Brazil and few others hold momentous potential for EHR market growth due to numerous initiatives and funding activities that will boost global electronic health record industry size over the foreseeable future.

What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Premium Report: Details

Pages: 157
Tables: 174
Charts / Figures: 13
Companies covered: 14
Countries covered: 16

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