The new report by Expert Market Research titled, ‘Global Hospital EMR Systems Market Report and Forecast 2022-2027’, gives an in-depth analysis of the hospital EMR systems market, assessing the market supported its segments like hospital size, delivery mode, type and component. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, along side analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size: USD 14.40 billion
- Forecast CAGR (2022-2027): 7.8%
- Forecast Market Size: USD 22.60 billion
Reduced prices and increased government support for the acceptance of EMRs are two factors that are propelling the market forward. The government’s support for the adoption of EMRs, as well as the rise in curtail tending prices, are two key factors driving the market’s growth. Furthermore, the introduction of composite code, as well as the integration and capability of code, are creating numerous opportunities for market growth. However, the high cost of EMR solutions is a major stumbling block to the market’s expansion. However, one major factor that is expected to limit the market’s growth over the forecast period is the high cost of EMR solutions.
Industry Definition and Major Segments
A computer-based database system that is specific to one physician or a medical organisation is known as an electronic medical record (EMR) system. It’s a patient-specific digital record that includes personal information, medical history, and a list of diagnoses. Patients’ data is synced with the practice management software that handles scheduling and billing for the organisation. As a result, they are a viable alternative to traditional paper records, allowing for improved communication and coordination among members of a medical organisation in order to provide the best possible care to patients.
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The segmentation of the industry can be done on the basis of component, delivery mode, type and hospital size.
By component:
- Services
- Software
- Hardware
By delivery mode:
- On-Premise
- Cloud-Based
By type:
- General EMR Solutions
- Speciality EMR Solutions
Based on hospital size:
- Small and Medium-Sized Hospitals
- Large Hospitals
The regional market for the industry includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
Electronic medical record (EMR) systems are becoming more popular as a result of the healthcare industry’s move toward digitization. Many government initiatives, such as encouraging doctors to use electronic health records, investing in training healthcare information technology staff, and establishing regional extension centres to provide technical and other advice, are driving the EMR market forward. The market is being driven by factors such as the growing need for an integrated healthcare system, big data developments in the healthcare industry, and technological advancements in the field of data storage. A key factor driving the evolution of the hospital EMR systems market is the growing need to reduce the cost of quality care in hospitals for the patient population. The increased efforts by governments in several countries to streamline in-patient care have fueled the demand. Customization flexibility to meet the needs of various general and specialised health professionals will expand the global hospital EMR systems market’s potential. On-premise hospital EMR systems are gaining popularity in various regions. This is due to their lower risk of data breaches, ease of transition from one system to another, and access to multiple vendors’ services or products. Cloud-based hospital EMR systems, on the other hand, have made significant progress in recent years, opening up exciting possibilities. The rising prevalence of chronic diseases and the evolving healthcare sector in emerging economies are also expected to provide lucrative growth opportunities for market players.
Key Market Players
The major players within the market Epic Systems Corporation, Cerner Corporation, Medical Information Technology, INC, Computer Programs and Systems, INC, Medhost and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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