According to the latest report by IMARC Group, titled “Electronic Medical Records Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global electronic medical records market exhibited moderate growth during 2015-2020. Electronic medical record (EMR) refers to digital documents that can generate and send prescriptions to pharmacies electronically. It collects medical information of patients, including their health history, diagnoses, medicines, tests, allergies, immunization, and treatment plans. EMR also assists in keeping track of vital signs, personal statistics, and billing information. It offers a real-time, patient-centered and digital alternative to paper records and charts used to provide information instantly and securely to authorized users. EMR can be accessed by all healthcare providers taking care of the patient and offers quality care and protection from data disruption caused by accidents or mishaps.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Electronic Medical Records Market Trends:
The global EMR market is primarily driven by the rapid digitization in the healthcare industry. Governments of various nations are taking initiatives to encourage physicians and healthcare providers to invest in IT-based solutions, such as EMR. They are also establishing regional extension centers that offer technical support and advice to patients. Besides this, the growing demand for integrated healthcare systems with big data is also contributing to the market growth. With the ongoing coronavirus disease (COVID-19) pandemic, the global healthcare industry is witnessing a crunch. The consequent increase in hospitalizations and lockdowns has resulted in the demand for cloud-based EMR solutions to enhance communication between healthcare providers and patients. Furthermore, the growing geriatric population, the rising prevalence of chronic diseases and the implementation of favorable health management programs are some of the other factors that are significantly impacting the market growth worldwide. Looking forward, the market is expected to grow at a CAGR of around 7% during 2021-2026.
- Based on the type, the market has been segmented into traditional, speech enabled, interoperable and other EMRs.
- On the basis of the component, the market has been classified into hardware, software, and services.
- The market has been categorized based on functionality into basic and fully functional systems.
- On the basis of the deployment type, the market has been bifurcated into cloud-based and on-premises.
- Based on the application, the market has been segregated into specialty based (cardiology, neurology, radiology, oncology, and others) and general applications.
- The market has been segregated based on the end user into hospitals and clinics, specialty centers, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being AdvancedMD (Global Payments Inc.), Allscripts Healthcare Solutions, Cerner Corporation, Computer Programs and Systems Inc., CureMD Healthcare, eClinicalWorks, Epic Systems Corporation, General Electric (GE) Company, Greenway Health LLC, McKesson Corporation, Modernizing Medicine Inc., and Nextgen Healthcare Inc.
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