Global EHR-EMR Information, By Type (Emergency Care, Perioperative Care, Mobile Applications for Doctors and Nurse, others), By Mode of Delivery (On-Premise and Cloud Based) - Forecast to 2023
Pune, India -- (SBWIRE) -- 02/15/2018 -- The Global EHR-EMR market is expected to reach USD 120 billion in 2023 from its previous worth of USD 70 billion in 2016 by growing at the CAGR of approximately 10.9% during the forecast period 2017-2023.
An electronic health record (EHR), or electronic medical record (EMR), is the systematized collection of patient and population electronically-stored health information in a digital format.
EMR/EHR market anticipated that would enlist a sound development because of: expanding requirement for simple and advantageous social insurance administrations, substitution of paper records by electronic records, lessen odds of blunder, an expansion in the quantity of patients getting conceded in clinics, expanding volume of therapeutic records, simple medicinal services conveyance and keeping up nature of wellbeing records. Such advancements in social insurance IT additionally supports the development of the EMR/EHR Market. Then again, high cost of programming arrangements may act a control to this present market's development. The appropriation of distributed computing in medicinal services is probably going to increment because of the rising need to diminish social insurance expenses and cost-proficiency of cloud innovation. Being said that expanding number of social insurance association and rising medicinal services consumption fuel the development of the market.
Market examination by MRFR unmistakably demonstrates that, forceful players in EMR/EHR market, for example, Epic, Cerner beat out Meditech in little healing center EHR reception section. It has likewise been watched that, Epic Systems, Cerner and Athena Health keep on leading the little doctor's facility EHR selection commercial center.
In current year 2017, small hospital EHR adoption landscape shows that organizations under 200 beds are scooping up electronic health records from Epic, Cerner & Athenahealth at a rapid rate. Findings revealed that, hospitals with fewer than 200 beds accounted for 78% of EHR purchasing decisions in 2016. EMR/EHR market attribute this trend to the emergence of micro hospitals or short term acute care facilities with fewer than 15 inpatient beds, & an increase in EHR purchasing decisions by standalone hospitals
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EHR-EMR Market – Competitive Analysis
As the market seems to be attractive, growing and profitable, at the same time market has witnessed intense rivalry among existing competitors. Many new entrants expected to enter into EHR-EMR Market. There are many big players in the EHR-EMR Market such as: Epic Systems Corporation (U.S), Cerner Corporation (U.S), Meditech, Allscripts (U.S), QSI Management, LLC (U.S), General Electric Company (U.S), eClinicalWorks (U.S), McKesson Corporation (U.S) and Greenway Health, LLC (U.S)
This market movement was fuelled by continued growth of the community specific platforms from Cerner & Epic, the acquisition & EMR standardization activity of larger organizations, & smaller hospitals' increased interest in Athenahealth's new hospital offering.
2016 was a big year for Epic, Cerner, & Athenahealth, on the other hand players such as Meditech & McKesson had a harder time maintaining their footing among small hospitals
Aggressive marketing by Epic, helps Epic continued to hold the lion's share of the market in 2016:- Epic sustained its 6-year streak this year as the leading supplier among acute care hospitals. Helping Epic's reputation among small hospitals is their spotless record of zero reported voluntary customer instalments. No Epic customers voluntarily signed with a competing EMR company in 2016.
Cerner earns highest number of critical access hospitals: - Cerner trailed close behind Epic in the market. Despite holding the second position overall, Cerner provided EHR technology for the highest number of critical access hospitals in 2016. Cerner community works is a large draw for small hospitals due to its breadth of functionality and integration, though provider satisfaction is middle of the road. Findings revelled that some of Cerner's spike in new small hospital clients to its acquisition of Siemens. For many Siemens customers, Cerner's acquisition acted as a catalyst, accelerating their time frame for making a new EMR decision. Aggressive marketing by "Cerner" & "Epic", both appeal to small hospitals due to the variety of services the vendors' EHR systems offer, small hospitals report a lack of flexibility preventing them from tailoring the technology to their specific organizational needs
Athena health doubles its small hospital client base: While EHR giants Epic and Cerner maintained their status as top performers in the market, athenahealth also grew significantly, more than doubling their number of acute care hospital implementations in 2016.
Meditech, McKesson & CPSI suffer multi-year net losses: - Meditech, McKesson, & CPSI suffered the largest net losses in 2016. Meditech lost half of its legacy customers to competitors in 2016. Meditech was the only player lost half the legacy customers that made decisions to competitors in 2016. The majority of customers leaving Meditech report insufficient development & skepticism that the supplier will be able to meet future needs.
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EHR-EMR Market – Regional Analysis
Globally, EHR-EMR market consists of four regions namely Americas, Europe, Asia Pacific and Middle East & Africa. America is the largest market. Increasing importance of EHR-EMR, concentration of major market players and increase in number of services in specialty & super specialty hospitals boosts the growth of this market in North America.
Europe is the second largest market owing to extensive use of healthcare IT for patient engagement & administration. Increasing adoption of healthcare management software, use of clinical practice management software & availability of funds for R&D activities in healthcare IT also fuel the growth of the market.
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