Electronic Medical Records (EMR) Market

2021 Analysis and Review: Electronic Medical Records (EMR) Market by Product – Hospital and Ambulatory EMR for 2021 – 2031

Electronic Medical Records (EMR) Market Snapshot

Electronic medical records (EMR) market will exhibit a CAGR of 7.8% for forecast period 2021-2031 and is predicted to reach the valuation of US$ 21.5 Billion by the end of 2021, according to market report from Future Market Insights (FMI).

EMR demand grew by 5.5% year-on-year in 2021 owing to outbreak of COVID-19 pandemic and rising hospitalization of patients across the globe. FMI also highlighted that the EMR market is dominated by Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., GE Healthcare, McKesson Corporation, and NextGen Healthcare. These top market players are anticipated to account for 65% of global EMR market share in 2021.

Key Points Covered in Electronic Medical Records (EMR) Market Study

  • Market estimates and forecast 2021 – 2031
  • Key drivers and restrains impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competitive Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact On Electronic Medical Records (EMR) Market
  • Recommendation on Key Winning Strategies

2016 - 2020 Electronic medical records (EMR) Market Outlook in Comparison to 2021 – 2031 Forecast

Growing necessity for efficient and smooth functioning healthcare system is driving electronic medical records (EMR) demand across the world. For past five years, electronic medical records market experienced a steady growth of 5.6% CAGR.

Digital transformation in healthcare is imperative to allow medical personnel access to patient’s history with relative ease. Rising demand for systems and software that interconnects hospitals, clinics, and other healthcare facilities will emerge as a growth driver during the forecast period.

As competition grows in the market, there is higher focus on strategic collaborations between key electronic medical record solution providers. Coupled with this, the consistently surging need for upgrading technologies and sharing knowledge to make healthcare more efficient will encourage partnerships between key players.

For instance, Cerner Corporation acquired Kantar Health for US$ 375 Mn, in April 2021. The acquisition will combine the technology and medical data of Cerner with life science expertise of Kantar Health leading and is aimed towards accelerating advancement in life science research and enhancement in the quality of patient care.

EMR are also used for effective distribution of COVID-19 vaccines thus improving workflow and increase healthcare quality.

For instance, Healthcare IT solutions market leader eClinicalWorks® successfully implemented its COVID-19 vaccination management module called “Vaccine Administration Management Solution (VAMS)” in April 2021. VAMS is assisting in administering vaccine doses in more than 25 states in U.S.

Coupled with these developments, unprecedented outbreak of epidemics and pandemics and integration of healthcare IoT to deliver quality services will drive the EMR market in upcoming years.

How is Implementation of EMR Systems for Pediatrics Care affecting Growth?

EMRs has been gaining popularity among general physician clinics and pediatrics since the past few years. However, there are limitations in children specific EMR systems as they are unable to provide immunization clinical decision support and weight-based medication dosing with rounding.

Market players are therefore integrating application programming interfaces (API) with EMRs to provide better superior pediatric functionalities.

Infermedica recently launched a new pediatrics solution integrated with artificial intelligence (AI) to allow preliminary diagnosis and triage of infants, toddlers and children. Infermedica is an AI-driven pre-diagnostics and care coordination platform.

Upgrading the EMRs to incorporate pediatric functionalities like age-specific developmental assessment and anticipatory guidance reminders will create opportunity of market growth.

What is the Impact of Electronic Medical Record Protection Laws?

As ransomware cyber-attacks on healthcare system are on the rise, the governments across the globe are becoming vigilant towards strengthening the digital data security.

National healthcare service (NHS) of U.K. came under global ransomware cyber attack “WannaCry” on 12th May 2017. National Audit Office of U.K. reported that the cyber attack affected around 80 NHS trusts in England along with 603 primary care and other organizations.

In April 2018, the government of U.K. launched “Data Security and Protection Toolkit” to counter the cyber attacks in the future. As per the new legislation, care computer emergency response team (CERT) was established to counter intentional data security breaches and levy heavy sanctions for malicious data theft.

Government of India has set-up the State Electronic Health Authority (SeHA) under the umbrella of National Electronic Health Authority (NeHA) and will be working under the guidelines of The Digital Information Security in Healthcare Act (DISHA). NeHA will act as a superior authority and will ensure security, confidentiality, and privacy of patient data while creating a centralized EMR repository for easy access of patient’s health history and situation by medical institutions.

New legislation will promote better data privacy, provide confidentiality and standardization. Enactment of various healthcare associated laws will increase people’s confidence in EMR and thus boost the market growth.

Country-wise Analysis

Why Is U.S leading the Electronic medical records (EMR) Market?

Presence of well-established healthcare industry, favorable insurance policies, and presence of leading market players in the country will create conducive environment for EMR uptake across the U.S. healthcare sector.

Growing awareness among regarding importance of EMR and rising healthcare IT integration will boost the market growth. In June 2021, Veradigm® joined hands with PRA Health Sciences Inc. to create electronic medical record based clinical research network across the U.S.

In this collaboration, Veradigm will use its StudySource platform which will expand its existing EMR systems to incorporate clinical research. PRA will bring its eSource technology and clinical research expertise on the table allowing any physician to offer clinical research as an option to their patients. This will enhance the efficacy of the trial process and will promote diversification in clinical trials.

Increasing use of EMR in specialized clinics for result management, clinical trials, and decision support will fuel the demand for EMR in U.S. 

What Are the Factors Driving Electronic Medical Records Demand in Australia?

Government in Australia has been working towards developing integrated electronic medical record solution to create consistent system across the states. Increasing incorporation of artificial intelligence in EMR will boost the market growth.

In 2021, New South Wales (NSW)’s government invested around US$ 22.8 Billion in Single Digital Patient Record (SDPR) initiative to merge the NSW’s existing EMR system into one single central record system and elevate the care coordination system across the country. The initiative also aims at enhancing the patient experience and promotes sustainability.

On 17th February 2021, the Australian Digital Health Agency (ADHA) announced that the inaugural stage of integration between South Australia Health’s Sunrise Electrical Medical Records (EMR), patient administration system (PAS) and My Health Record (MHR) has been completed.

The merger will allow healthcare providers, clinicians and insurance companies easy access to patient’s data. They will also be able to upload necessary information directly to MHR platform.

These initiatives will create growth opportunities for EMR software demand in upcoming years.

What is Driving Electronic Medical Records Market Growth in Germany?

Electronic medical records are integral part of German healthcare system. Increasing government initiatives to improve quality of care is driving the market growth in Germany.

On 14th March 2019, German government passed a new law called “The Appointment Service and Supply Act (TSVG)”. As per the act, the German statutory health insurance funds are required to provide patients and policyholders with their EMRs from 1st January 2021.

The act allows patient to access and copy patient’s record from a doctor’s practice management system as per patient’s request and patient can also edit their records and enter their individually measured data.

Digitization and merger of patient’s data with centralized EMR will accelerate the adoption of EMR in the country.

What Is Influencing Electronic Medical Records Market Growth In India?

India is forecast to provide lucrative growth opportunity for EMR market growth. The growth can be attributed to large population, increasing accessibility to healthcare facilities to the population, and favorable insurance and reimbursement policies. 

Pharmaceutical giants are partnering with EMR market players to introduce electronic medical records in Indian medical and healthcare system. This will create opportunities for market growth.

In June 2021, AstraZeneca India signed an agreement with Docon Technologies for introducing electronic medical records system in 1000 identified clinics across India. As per the agreement, Docon will digitize those clinics and install customized EMR systems allowing clinicians to access complete medical history of the patient.

This partnership will act as a stepping stone in treating chronic patients and prevent and tackle long term complications of diseases like diabetes and cardiovascular diseases.

Rapid technological advancements, increasing government funding to make the treatment affordable, and increasing consumer spending on healthcare will create opportunities for growth in India.

On 11th June 2021, Simbo.ai joined hands with the digital healthcare platform, WhiteCoats to improve the clinical management and client engagement tools. Simbio.ai will develop voiced based EMR tools for WhiteCoats.

Category-wise Insights

Why are Cloud Based EMR Set Ups Gaining Popularity?

Low cost and easy installation along with easy accessibility to the medical data from anywhere in the world is driving the sales of cloud based EMR set-ups.

Which Product Will Register High Demand?

Hospital electronic medical records (EMR) are predicted to showcase elevated demand throughout the forecast period owing to increasing cases of pandemics and epidemic infections and need for vaccination against plethora of diseases across the globe.

Which are the Key EMR End Users?

Clinical segments are expected to generate highest demand throughout the forecast period. Growing pool of patients and better accessibility to healthcare will elevate the demand in clinics.

Competitive Landscape

Future Market Insights (FMI) states that leading EMR solution providers are working towards developing exploring the untapped market of Asia and Latin America by forming partnerships with regional medical system, undergoing merger and acquisition and strengthening their distribution channels.

Market players are also focusing towards spreading awareness, reducing cost of EMR software and associated services, and integrating modern technology with EMR to penetrate the middle income and emerging markets.

In May 2021, DrChrono announced that its open fast healthcare interoperability resources (FHIR) application programming interface (API) will now be able to securely transfer the patient’s existing health records from “OnPatient” database personal health record (PHR) into the Apple Health app. This will streamline the process and will assist in faster accessing of medical data from both the platforms.

Electronic medical records (EMR) Market – Report Scope

Attribute

Details

Forecast Period

2021 – 2031

Historical Data Available for

2015 – 2025

Market Analysis

US$ Mn for Value & Units for Volume

Key Countries Covered

U.S., Canada, Brazil, Mexico, Argentina, Rest of Latin America, EU-5, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Denmark, Finland, Iceland, Norway, Sweden), Rest of Western Europe, Poland, Russia, Rest of Eastern Europe, China, India, Japan, GCC Countries, South Africa, Israel, Turkey, Iran, Rest of Middle East & Africa, Australia, New Zealand, South Korea, the Philippines, Malaysia, and Thailand

Key Segments Covered

By Product, End Use, Components, Delivery Mode, and Region

Key Companies Profiled

Report Coverage

Market Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is electronic medical records (EMR) market size?

    Driven by increasing cases of diseases and need for effective retrieval of patient medical history, the electronic medical records (EMR) market size is forecast to reach US$ 21.5 Bn in 2021 with a CAGR of 7.8%.

  • At what rate did the electronic medical records (EMR) market expand in the last five years?

    Between 2016 and 2020, the electronic medical records (EMR) sales grew at 5.6% CAGR.

  • What are the key trends shaping the electronic medical records (EMR) market?

    Growing healthcare digitalization initiatives, protection of healthcare records, and stringent healthcare compliance and regulations are few of the key trends shaping the electronic medical records (EMR) market.

  • What are the key factors driving electronic medical records (EMR) market demand?

    Surge in number of diseases and rising necessity of easy access of medical data by medical personnel are driving the electronic medical records (EMR) market demand.

  • What is the North America electronic medical records (EMR) market outlook?

    Demand registered in North America will continue rising, backed by presence of leading market players in the U.S. and Canada, the North America market is anticipated to expand at 8.2% CAGR during the forecast period.

  • Who are the leading companies in electronic medical records (EMR) market?

    Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., GE Healthcare, McKesson Corporation, and NextGen Healthcare are the top companies operating in the market.

  • What is the cumulative share of top companies in electronic medical records (EMR) market?

    Top players account for nearly 65% of the electronic medical records (EMR) market in 2021.

  • At what rate will electronic medical records (EMR) sales increase in Europe?

    Electronic medical records (EMR) sales will increase at 7.5% CAGR in Europe, backed by rising demand in the U.K., Germany, Russia and other countries.

  • Which are the top five countries driving electronic medical records (EMR) market demand?

    Leading countries driving demand in the electronic medical records (EMR) market are the U.S., Australia, Canada, U.K., and Japan.

  • What are the key statistics for electronic medical records (EMR) market in Japan and South Korea?

    Currently in 2021, Japan and South Korea holds around 31.5% and 17.5% of share respectively in the East Asia electronic medical records (EMR) market.

Key Segments Covered in Electronic medical records (EMR) Market Study

By Product

  • Hospital
  • Ambulatory

By End Use

  • Hospitals
  • General Physician Clinics
  • Specialised Clinics
  • Ambulatory Surgical Centres

By Components

  • Software
  • Services

By Delivery Mode

  • Client Server Setups
  • Cloud-based Setups
  • Hybrid Setups

Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • U.K.
    • France
    • Germany
    • Spain
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
    • Greater China
    • India
    • Australia and New Zealand
    • Rest of APEJ
  • Japan
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA

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