Electronic Health Record (EHR) Market Research Report: By Delivery Mode (Web/Cloud-Based Server, On-Premise), Component (Practice Management, Patient Management, E-Prescription, Referral Management, Population Health Management), End User (Inpatient Facilities, Ambulatory Care Centers, Physician Offices) - Global Industry Size, Share, Growth, Overview and Forecast to 2023

  • Published: June 2018
  • Report Code: LS10256
  • Available Format: PDF
  • Pages: 138

Valued at $22.3 billion in 2017, the global electronic health record (EHR) market is projected to generate $30.4 billion revenue by 2023, witnessing a CAGR of 5.4% during the forecast period (2018–2023).

Among all regions, Asia-Pacific (APAC) is expected to witness the fastest growth in the EHR market during the forecast period. The factors behind this include the surging geriatric population and rising prevalence of chronic diseases in countries such as India and China. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), approximately 12.4% of the regional population was aged 60 years or above, in 2016, and it is projected to increase to more than a quarter, or 1.3 billion, by 2050. This segment of the population witnesses frequent hospitalization, thereby boosting the demand for EHR.

Electronic Health Record (EHR) Market

Dynamics of EHR Market

Governments in many countries are encouraging hospitals and clinics to convert traditional health records to the electronic format, which is helping the EHR market grow. For instance, in the U.S., the Health Information Technology for Economic and Clinical Health (HITECH) Act was passed in 2009, to advance the utilization of EHR systems, with the specific goal of modernizing and improving the nation’s healthcare system. EHRs offer substantial advantages over traditional health records, in reducing the healthcare costs and maintaining the quality of healthcare services.

The benefits of EHR in epidemiology studies is another major factor driving the growth of the EHR market. For instance, the U.S. Food and Drug Administration (FDA) has requested the government for $100 million, for the fiscal year 2019, for an EHR initiative, to evaluate the safety of the drugs regulated by it, as EHR enables researchers to analyze data. Further, by using this system, patients and healthcare providers can have an idea of the current stage of drug development and clinical trials and results that were obtained from previously completed trials.

Electronic Health Record (EHR) Market

Emerging economies, such as China and India, offer a huge growth potential to the EHR market players, in terms of market share augmentation, as the APAC region is witnessing the swift acceptance of EHR systems. This growth is also expected to be led by the investments in healthcare by, both, public and private enterprises. Moreover, several emerging economies have a large population, and with the increasing prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular diseases, the high-volume data of patients has to be managed. These factors are together expected to generate the demand for EHR solutions, for the efficient management of patient information.

Structural Analysis of EHR Market

The EHR market was dominated by the category of web/cloud-based delivery mode in 2017. The popularity of this delivery mode can be attributed to the rising focus of healthcare providers and insurance companies on the global accessibility of patients’ health records.

Practice management was the largest category in the EHR market in 2017, among all components, and it is expected to hold over 32.0% share by 2023. This can be mainly ascribed to the advantages of EHR implementation in the healthcare sector, for instance higher efficiency in the day-to-day operations of medical and clinical centers.

Ambulatory care centers are expected to exhibit the fastest growth in the EHR market, with a 5.9% CAGR during the forecast period, among various end users. The growth is attributed to the increasing number of ambulatory care centers, globally.

Global Scenario of EHR Market

Globally, North America was the largest market for EHR during the historical period (2013–2017), and it is expected to maintain the trend during the forecast period. This can be mainly attributed to the growth in its geriatric population and increase in the awareness about the relevance of EHRs in healthcare settings. The U.S. is expected to lead the North American EHR market, generating revenue worth $11.7 billion in 2023.

During the forecast period, the APAC EHR market is projected to witness the fastest growth, owing to the rising investments by governments, non-profit entities, and private-sector companies in EHR solutions. Japan is expected to lead the regional market over the forecast period, on account of the advanced healthcare facilities and supportive reimbursement policies in the country.

Electronic Health Record (EHR) Market

Competitive Landscape of EHR Market

The EHR market is consolidated in nature and characterized by the presence of established companies, such as Allscripts Healthcare LLC, Epic Systems Corporation, Cerner Corporation, and Medical Information Technology Inc. Besides, McKesson Corporation, athenahealth Inc., NextGen Healthcare Inc., and MEDHOST are also important players.

Recent Strategic Developments of EHR Market Players

In recent years, the global EHR market has witnessed several strategic measures by major players, including acquisitions, product launches, and partnerships, to gain a competitive edge in the industry. For instance, in May 2018, Allscripts Healthcare LLC acquired HealthGrid Holding Company (HealthGrid), a provider of mobile enterprise patient engagement solutions, to integrate HealthGrid’s capabilities into its FollowMyHealth platform. The acquisition was aimed at leveraging existing patients’ contact information, connecting providers with patients, and facilitating patient outreach and engagement.

Moreover, in April 2018, McKesson Corporation and CoverMyMeds LLC, a part of McKesson Rx Technology Solutions, jointly launched ExpressCoverage, a patient support platform that connects patients, providers, payers, and life science organizations, to facilitate access to patient information and improve adherence. The platform helps patients benefit by improving the access to medication, supporting adherence, and reducing prescription errors. Besides, it facilitates improved care delivery and patient outcomes.

Electronic Health Record Market Size Breakdown by Segment

The EHR market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.

Based on Delivery Mode

  • Web/cloud-based
  • On-premise

Based on Component

  • Practice management
  • Patient management
  • E-prescription
  • Referral management
  • Population health management
  • Others

Based on End User

  • Inpatient facilities
    • Acute care
    • Long term care
    • Post-acute care
  • Ambulatory care centers
  • Physician offices

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Australia
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Colombia
    • Argentina
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • U.A.E.
    • South Africa

Key Questions Addressed in the Report

  • What is the current scenario of the global EHR market?
  • What are the historical size and the present size of the categories within the market segments and their future potential?
  • What are the major catalysts for the market and their expected impact during the short, medium, and long terms?
  • Which are the key regions from the investment perspective?
  • What are the evolving opportunities for the players in the market?
  • What is the market share of key players?
  • What are the key strategies being adopted by the major players to up their market shares?
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