Electronic Health Records (EHR)

Market to reach US$38.29 bn by

2025 – TMR

Electronic Health Records Market – Snapshot

An electronic health record or EHR refers to a digital version of the

paper chart of a patient. These health records are patient-centered
and real-time records that make instant and secured availability of
information possible for authorized users. This system of health
record is built to go way beyond the standard clinical data that is
gathered in the office of a provider, which is likely to work in favor
of the growth of the global electronic health records market in the
years to come.

This electronic record system contains the treatment and medical

histories of the patients, which makes it easy for the medical
practitioners to get a broader view of the patient’s health condition
quickly. Electronic health records are a crucial part of health IT.

The global electronic health records market is primarily influenced

by numerous factors such as integration of healthcare information
technology, rise in the incidences of chronic diseases, and
expanding pool of geriatric population. All these factors are
predicted to push for the increased adoption of electronic health
records in the years to come.

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Demand is Driven by the Rising Need for Accuracy and Clarity in

Medical Records

The growing initiatives on part of the government to go paperless

for healthcare data documentation together with the rising trend of
cloud-based software for electronic health records is further
expected to drive the demand for electronic health record.

This type of health records can better patient in the following

ways:

 Lessening the prevalence of medical error through

improvement of clarity and accuracy of medical records

 It ensures easy availability of health information together with

diminishing number of test duplication.
 It lessens delays in the treatment of patients and patients are
kept well informed about their conditions so as to take better and
informed decisions.

 Reduction in the number of medical errors through

improvement of clarity and accuracy of medical records
Furthermore, rise in the geriatric population together with growing
prevalence of various chronic diseases is further expected to support
developments in the global electronic health records market.

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Electronic Health Records (EHR) Market: A Snapshot

Electronic health records or EHR are increasingly becoming the

lease to a new life for the healthcare sector. On one hand, it
promises to improve patient care significantly with improvements in
accurate and available information. On the other hand, it also
promises to reduce costs significantly, wherein administrative costs
form the major chunk for burden for many hospitals. The process is
also essential for enabling other systems such as disbursement of
insurance schemes, availing care through MediCaid programs, and
collaborating with other medical practitioners. The EHR market
promises robust growth during 2017-2025 period, as government
mandates for programs like MediCaid dictate use of digital mediums
to increase patient, and doctor communication, and makes it
mandatory for availing disbursement through EHR market.
According to TMR experts, the EHR market will register a notable
5.7% CAGR during the forecast period to reach a valuation of US$
38.29 bn by 2025.

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SaaS Deployment Remains the Most Promising Prospect

Web-based deployment have made their way into most many

hospital, and healthcare system across the world. Their deployment
promises significant advantages to players in the healthcare sector as
these are often easy to deploy, and can be installed on premise
without the need of exuberant costs of additional hardware.
Moreover, these also promise significant improvements in
productivity and cost-savings at the same time. SaaS based systems
come in different varieties. Among these, the web-based systems are
expected to remain most prominent across hospitals. The alternative
to these systems, the client-server based EHR systems are ideal for
large chains of hospitals in countries like the United States. The
necessity of confidentiality, and increasing infrastructure
developments like datacenters across the country are expected to
drive major growth for the HER systems in United States.
Moreover, rise of cloud systems like Azure, Google Cloud, and
AWL are also expected to provide more choice to large players as
shifting data to cloud and gain benefits like machine learning
becomes viable with introduction of new systems.

North America to Exhibit Dominant Growth

The growth of several major hospital chains, and supporting
infrastructure like cloud in the region are expected to make North
America region a home of opportunity for global players in the EHR
market. The region continues to attract new investments in cloud
technologies. For example, recently IBM announced its cloud
systems in league with major players in the market, which promises
to provide hybrid solutions to players in the healthcare sector which
are looking for a balanced approach to migration to cloud. The new
technology is likely to help change conventional mind-set in the
healthcare sector, with a solution that promises to make the most out
of both the worlds. Asia Pacific will also exhibit tremendous
growth, thanks to rising expansion of healthcare services, rising
disposable income, and technological advancement in the region.

Some of the leading players operating in the global electronic health

record market are Allscripts Healthcare Solutions, Inc.,
Athenahealth, Inc., Cerner Corporation, CPSI, Epic Systems,
eClinicalWorks, GE Healthcare, Greenway Health, LLC, Medical
Information Technology, Inc., McKesson Corporation, NextGen
Healthcare, and 4medica.

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