Electronic Health Record Systems Market Is Projected To Reach US$ 11.3 Billion By 2034

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An electronic health record (EHR) is a digital version of a patient’s medical history that facilitates secure, instantaneous tracking of real-time records.

The global electronic health record (EHR) market is expected to rise from US$ 7.4 billion in 2024 to US$ 11.3 billion in 2034, with the majority of income coming from sales of EHR software. True.According to MR, the market would grow consistently between 2024 and 2034 at a CAGR of 4.3%.

The healthcare sector is rapidly digitizing to improve patient care and streamline processes, which is increasing demand for health information systems. The global governments’ continuous efforts to improve and expand healthcare infrastructure and technology are a primary driver of the overall growth of the electronic health record market.

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The integration of advanced technologies, including artificial intelligence (AI) and machine learning (ML), is propelling the development of cutting-edge electronic health record (EHR) systems. These innovations improve workflow efficiency and support medical practitioners in decision-making. Additionally, cloud-based technologies are becoming increasingly popular, with cloud-based EHR solutions widely adopted for their flexibility and scalability. These systems are more cost-effective than on-premise alternatives, streamlining operations through regular upgrades that provide users with the latest features.

Governments are making significant investments in enhancing healthcare facilities, which is driving overall EHR market growth. High-potential economies in regions like Asia Pacific and Latin America are expected to offer lucrative opportunities for EHR service providers. The increase in healthcare expenditures and supportive government policies in these regions are accelerating the adoption of EHR technologies.

Key Takeaways from Market Study
• Global demand for electronic health record solutions is projected to reach a market value of US$ 11.3 billion by 2034.
• The United States market is approximated at US$ 800 million in 2024.
• Sales of electronic health record systems in Japan are foreseen to increase at a CAGR of 4.8% from 2024 to 2034.
• EHR software is estimated to hold 70% of the global market share in 2024.

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Competitive Landscape
Key players in the electronic health record market are adopting several tactics to earn high revenues. Some of the approaches include global expansions, mergers, collaborations, and new product launches.

  • In 2023, NextGen Healthcare collaborated with American Podiatric Medical Association. This move reveals that NextGen Office is the sole EHR platform to include blueprints developed with American Podiatric Medical Association.

Winning Strategy

Some of the leading HER companies in the market are McKesson Corporation, NextGen Healthcare, Inc., eClinicalWorks, Health Information Management Systems, and GE Healthcare. Industry leaders are focused on innovations, partnerships, and customer centric approaches to boost their revenues. New companies entering the electronic health record market are investing in R&D activities to introduce EHR solutions with advanced features. Introduction of innovative EHR systems is set to help start-ups to stand apart in competitive pace.

Key Companies Profiled:
• Allscripts Healthcare LLC
• McKesson Corporation
• NextGen Healthcare, Inc.
• eClinicalWorks
• Health Information Management Systems
• Cerner Corporation (Oracle)
• GE Healthcare
• CPSI
• AdvancedMD, Inc.
• Epic Systems Corporation

What’s Driving Adoption of Electronic Health Record Systems?
Numerous measures implemented by the US government aimed at alleviating administrative and regulatory challenges are poised to propel the uptake of EHR systems among healthcare providers.
• The implementation of the Cures Act, designed to enhance the nation’s health outcomes, is expected to significantly accelerate the adoption of electronic health record systems.

Additionally, the ongoing modernization of healthcare infrastructure coupled with the active involvement of major market stakeholders is fueling the growth of the electronic health record market in the United States.

Key Segments of EHR Market Research
• By Solution :

o EHR Software
o Services

• By Product :
o Client-server-based EHR
o Web-based EHR

• By Type :
o Acute
o Ambulatory
o Post-acute

• By End User :
o Hospitals
o Specialty Clinics
o Ambulatory Surgical Centers
o Diagnostic Labs
o Others

• By Business Model :
o Licensed Electronic Health Records Software
o Technology Resale
o Subscriptions
o Professional Services
o Others

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa

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