Electronic Health Records Market Size, Trends, Growth, Revenue Analysis, Sales and Forecast 2021-2030

The global Electronic Health Records market size is expected to be worth around US$ 45.1 billion by 2030, according to a new report by Vision Research Reports.

The global Electronic Health Records market size was valued at US$ 36.8 billion in 2020 and is anticipated to grow at a CAGR of 13.7% during forecast period 2021 to 2030.

Growth Factors

The web-based EHRs are anticipated to witness the fastest growth over the forecast period. These systems are convenient for use in pharmacies, small-scaled laboratories, and clinics, as they require limited hardware infrastructure, which reduces the cost of installation. Electronic Health Records (EHR) vendors and organizations have initiated to help in curbing the pandemic by making telehealth a mainstream alternative, enhancing data access through EHRs, and collaborating to develop Covid-19 dashboards in detail.

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The introduction of electronic health records for and billing has eased the process as data entering into computerized systems is more convenient than paper-based methods. These systems also minimize the risk of errors in patient data as well as financial details. As per an independent study at the University of Michigan, the cost of outpatient care reduced by 3.0% upon shifting to EHRs from paper-based records. This reduction resulted in USD 5.14 savings per patient per month. In addition, M&A activities by key companies are also boosting the market growth.

For instance, in February 2021, Evident, LLC, a subsidiary of CPSI announced that Texas-based Curahealth Hospitals and Cobalt Rehabilitation, have selected the Evident EHR along with the collection services TruBridge, for three new rehabilitation facilities located in Denver, Colorado; West Houston, Texas; and San Antonio, Texas. Key players are investing in new product launches and collaborations for sustaining in the market. For instance, in August 2020, Cerner Corp. collaborated with Amazon to integrate its EHR solutions with the latter’s wearables, such as Amazon Halo. This would provide greater interoperability to its customers and strengthen its service portfolio.

Report Highlights

The web-based EHR segment led the market in 2020 and accounted for more than 54% share of the global revenue. This large market share is attributed to the popularity of web-based EHRs among the physicians and healthcare providers, which operate on a smaller scale as these systems can be installed without the requirement of in-house servers and can also offer extensive customizations & improvements, as per need.

The client server-based product segment is anticipated to show significant growth over the forecast period. Client-server-based EHRs provide a safer alternative for users as it offers in-house data storage, hence preventing data theft. These can also be customized as per customer requirements and also are a favorable option in the case of multi-physician facilities. Furthermore, they do not require a stable internet connection unlike the web-based systems, which further drives the segment growth.

The acute type segment held the largest market share of over 47% in 2020. The growth can be attributed to the government initiatives for the adoption of EHRs in small-scale facilities. For instance, acute care hospitals in the U.S., which are covered under the Inpatient Prospective Payment System (IPPS) are eligible for the Medicare incentive payment system.

Ambulatory EHRs are meant for use in outpatient care facilities and small practices. Government support for the adoption of ambulatory EHRs, especially during the Covid-19 pandemic, is expected to boost the market growth. Easy usage as compared to the inpatient systems is expected to drive the segment growth. These EHRs deal with a single practice and its patient, instead of a complex web of hospital departments.

Post-acute EHRs are mainly used for providing rehabilitation services, which patients receive after a stay in an acute care hospital. Post-acute care facilities consist of inpatient rehabilitation centers & hospitals, home health agencies, and long-term care hospitals. Rising spending on post-acute care facilities is anticipated to boost the segment growth.

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The professional services segment dominated the market with over 30.0% share in 2020. The rising demand for professional services in the form of project management, clinical process optimization, technical & application expertise, regulatory consulting, and training & education of the workforce of clients for assisting the design & implementation of systems will drive the segment.

This segment was amongst the most affected business models during the Covid-19 pandemic, due to decreased utilization of third-party resources associated with professional services. The licensed software segment is majorly involved in the development and licensing of intellectual property. The intellectual property consists of architectures, executable & referential knowledge, application software, and data & algorithms. This segment was also largely impacted by the pandemic.

The hospital segment held the largest market share of more than 61% in 2020 and will retain the dominance during the forecast period. The growth can be attributed to the large amount of medical data generated in hospitals. Furthermore, the cost of installation is less in hospitals as compared to ambulatory care centers, which also boosts the market growth.

North America accounted for the highest revenue share of over 45% in 2020. The region will remain dominant even during the forecast years due to the policies that support HER adoption and the availability of well-established infrastructure with high digital literacy. In May 2020, the federal government proposed the Federal Health IT Strategic Plan 2020-2025 that mandates the meaningful usage of EHR by healthcare providers.

Asia Pacific is anticipated to be the fastest-growing regional market during the forecast period. This growth can be attributed to the ever-increasing demand for quality standards & services, which is boosting the digitalization of healthcare in the region. The Ministry of Health in China has defined an action plan for usage of services related to e-health across the country encompassing broad areas of medical services, insurance plans, and with a large focus on the adoption of electronic record systems to allow data sharing across the national healthcare system.

Key Players

• Cerner Corp.
• GE Healthcare
• Allscripts Healthcare, LLC
• McKesson Corp.
• Epic Systems Corp.
• NextGen Healthcare, Inc.
• eClinicalWorks
• Medical Information Technology, Inc.
• HMS
• CPSI
• AdvancedMD, Inc.
• DXC Technology Company
• CureMD Healthcare
• Greenway Health, LLC

Market Segmentation

• Product Outlook
  • Client-server-based
  • Web-based
• Type Outlook
  • Acute
  • Ambulatory
  • Post-acute
• End Use Outlook
  • Hospitals
  • Ambulatory Care
    • Physician’s Clinic
    • Laboratories
    • Pharmacies
• Business Models Outlook
  • Licensed Software
  • Technology Resale
  • Subscriptions
  • Professional Services
  • Others
• Regional Outlook
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • The Netherlands
    • Sweden
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Singapore
  • Latin America
    • Brazil
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

In this study, the years considered to estimate the market size of Electronic Health Records are as follows:

• Historic Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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