$4550
[Research Report] The electronic health record (EHR) market was valued at US$ 14,054.05 million in 2020 and is projected to reach US$ 20,318.02 million by 2028; it is expected to grow at a CAGR of 4.9% during 2021–2028.
Market Insights and Analyst View:
Electronic health record is a digital version of patient’s medical records. Electronic health record EHR software are patient-centered and helps in maintaining the real-time records. This will help the authorized healthcare professionals to make patient data available instantly and securely. It contains patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. The increasing adoption of healthcare technologies by hospitals in emerging countries is the major driving factor for the growth of the market. For instance, in March 2019, Huawei Technologies signed a partnership agreement with Guangdong Provincial People's Hospital for building a wireless healthcare hospital in China. This would be achieved by integrating 5G, IoT, big data, artificial intelligence (AI), and other technologies to provide accessible healthcare services and better patient-doctor relationships. This factor is bolstering the electronic health records market growth.
Growth Drivers and Challenges:
Private and Public financial incentives are affiliated as never before to encourage physicians to adopt electronic health records services. To help in the transition, the government has also put billions into training health information technology workers and establishing regional extension centres to provide technical and other advice. For instance, in 2009, as part of the Health Information Technology for Economic and Clinical Health (HITECH) Act, the federal government set aside US$ 27 billion for an incentive program that inspires hospitals and providers to implement electronic health records systems. In addition, billions more were assigned to help train health information technology (HIT) workers. This will assist hospitals and providers in setting up EHR Services.
The incorporation of digital means has made the healthcare sector a target for cyber threats. The number of healthcare information and patient data breaches has gradually increased in the past years. As per the HIPPA Journal, in 2019, around 41.2 million healthcare records were exposed, stolen, or illegally disclosed in 505 healthcare data breaches. As per an IBM report, the average cost of a data breach in 2019 was US$ 3.92 million, while a healthcare industry breach typically costs US$ 6.45 million. The EHR systems are used to exchange and analyse the patient's clinical information. This will be the major challenge faced by electronic health records service providers.
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Electronic Health Record (EHR) Market: Strategic Insights
Market Size Value in US$ 14,054.05 Million in 2020 Market Size Value by US$ 20,318.02 Million by 2028 Growth rate CAGR of 4.9% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Electronic Health Record (EHR) Market: Strategic Insights

Market Size Value in | US$ 14,054.05 Million in 2020 |
Market Size Value by | US$ 20,318.02 Million by 2028 |
Growth rate | CAGR of 4.9% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |

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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Report Segmentation and Scope:
The “Global Electronic health records Market” is segmented based on Installation type, types, end use, and geography. Based on installation type, the electronic health records market is segmented into Cloud based and on premises. Based on type, the electronic health records market is segmented into Acute HER, Ambulatory HER, and Post acute EHR. Based on End Use, the electronic health records market is segmented into Hospital, Pharmacies, diagnostic and imaging centers and ambulatory care centers. The electronic health records market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
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Segmental Analysis:
Based on Installation type, the electronic health records market is bifurcated into cloud based and on-premises. The cloud-based segment held the largest share of the market in 2020, whereas the same segment is anticipated to register the highest CAGR of 5.3% in the market during the forecast period. A cloud-based EHR is a solution that allows patient health files to be stored in the cloud rather than saving them on internal servers of the healthcare facility. Cloud-based electronic health records allow collecting patient data, maintaining precise health information, organizing, and collecting data into actionable information. The cloud-based EHRs are popular amongst the physicians and healthcare providers operating on a smaller scale as these systems can be installed without any requirement of in-house servers and offer a wide range of customizations & improvements as per their needs. Cloud-based EHR solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems. Cloud-based EHR offers flexibility and allows the user to access the data from any place Thus, the rising demand for cloud-based software is driving the electronic health records market growth.
Electronic health records Market, by Product Type – 2020 and 2028
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Based on end use, the electronic health record (EHR) market has been segmented into hospitals, pharmacies, diagnostic and imaging centers, ambulatory care centers, and other end users. Hospitals segment held the largest electronic health record market share of the market in 2020, and the same segment is estimated to register the highest CAGR of 5.4% in the market during the forecast period. Hospitals are primary contact points for the patients to get their diagnosis done and opt for treatment options and alternatives. Available infrastructure in hospitals is capable of providing high quality care on any kind of disease condition as they have access to advanced medical devices. Hospitals segment is estimated to hold considerable share as majority of the patients in emerging nations and developed countries as well prefer to visit hospitals for any kind of health-related problem. Further, growing hospital industry in developing nations is likely to propel the growth of the segment. For instance, as per the IBEF, the Indian hospital industry is expected to grow CAGR of 16–17% to reach US$ 132.84 billion by 2022 from US$ 61.79 billion in 2017. Additionally, as per the NITI Aayog, Government of India, by 2024, India would have 2,500 new hospitals. Moreover, increasing number of hospitals and growing accessibility in emerging nations are also estimated to offer lucrative opportunity for growth of the electronic health record software market in hospital segment during the forecast period.
Regional Analysis:
Based on geography, the electronic health records market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2020, North America held the largest share of the global electronic health records market, and Europe is estimated to register the highest CAGR during the forecast period. The electronic health records market growth is attributed to the by increasing adoption of electronic health record (EHR), transformation of digital healthcare, increasing number chronic diseases and support from the federal government to implement electronic health record (EHR) to improve the quality of care. Other factors such as higher rate of software technologies in healthcare, higher number of hospitals, and implementation of strategic government policies are driving the US EHR market. Additionally, need for automated systems due to increasing patient population and crunch of healthcare resources are projected to fuel the adoption of electronic health records systems in the US. Additionally, emphasis on error reductions in hospital administrative work, which is causing considerable mortalities; is also prominently anticipated to drive the growth of the market during the forecast period. For instance, according to study published in Journal of Patient Safety, an estimated 400,000 patient casualties are caused due to administrative errors in the US each year.
Industry Developments and Future Opportunities:
Various initiatives taken by global electronic health records software providers are listed below:
- In April 2021, NextGen Healthcare, Inc., announced the availability of its expanded platform for ambulatory providers, the Spring ‘21 release of NextGen Enterprise. The platform also gives patients easier access to their medical records and to their care team, which strengthens the patient’s loyalty to the practice.
- In Feb 2021, NextGen Healthcare, Inc. announced that NextGen Enterprise EHR is the top ambulatory EMR (11-75 physicians) and NextGen Enterprise PM is the number one practice management solution (11-75 physicians) for the third consecutive year in the 2021 Best in KLAS
- In Oct 2020, Epic to use InterSystems as data foundation for latest EHR release. Using the IRIS platform will allow Epic customers access to larger datasets and provide enhancements in asynchronous mirroring.
- In Feb 2020, Allscripts has announced Allscripts Touchworks EHR 20.0, the company’s powerful, scalable, and flexible platform designed by clinical and industry experts for large ambulatory practices, is now generally available.
- In July 2020, Cerner has launched a cloud-based electronic health records platform, Community Works Foundations, aiming to reduce costs with a fixed-fee payment structure and no up-front fees at critical access (CAHs) and rural hospitals.
Covid-19 Impact:
The COVID-19 pandemic affected economies and industries in various countries across the globe. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the Healthcare IT industry. North American region is highly affected due to the outbreak of the Covid-19 pandemic. Countries such as the US and Canada reported the highest numbers of COVID-19 positive cases. The US-registered highest number of deaths due to the COVID-19 pandemic. The chaotic situation was created in the medical industry across the countries, increased demand for COVID diagnostics and therapeutics have dramatically increased in the hospitals. According to the Epic Health Research Network report of electronic health records, the average weekly screenings for breast, colon, and cervical cancers decreased by 94%, 86%, and 94% during January 20 – April 21, 2020, relative to the averages before January 20, 2020. Further IQVIA analysis concluded that oncology visits for newly diagnosed cancer patients began to increase in summer but had still not reached baseline in October. If oncology cases are missed or patients are diagnosed at end stages, it could result in long-term impacts on both health outcomes and costs. Similar patterns were observed for other serious and chronic diseases. The continued decrease in health services utilization, including preventive services, may result in more serious diagnoses and increased disease burden in the future.
Electronic health records (EHRs) have important data elements that can help with a pandemic response. Multiple initiatives were conducted to physically or virtually aggregate EHR and related data for COVID-19. EHR-based COVID-19 data collection and sharing initiatives are being carried out to provide care, educate healthcare workers and conduct research, during the pandemic. This factor is expected to boost the electronic health records software market growth during the forecast period.
Competitive Landscape and Key Companies:
Some of the prominent players holding the global electronic health records market share include Cerner Corporation, Computer Programs and Systems, Inc., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, eClinicalWorks, Greenway Health, AdvancedMD, Inc., CureMD Healthcare amongst others. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share.

Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Installation Type ; Type ; End User , and Geography

Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
EHR is a digital version of patient’s medical records. EHRs are patient-centered and real-time records, that make patient data available instantly and securely to authorized healthcare professionals. It contains patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results.
Concerns regarding data privacy and physician burnout hinders the growth of the Electronic Health Record (EHR) market.
The increasing adoption of Electronic Health Records (EHRs), rising incentives by federal government and growing incidences of medication errors fuels the market growth and various technological advancements.
The List of Companies - Electronic Health Record (EHR) Market
- Cerner Corporation
- COMPUTER PROGRAMS AND SYSTEMS, INC.
- Allscripts Healthcare Solutions, Inc.
- McKesson Corporation
- Epic Systems Corporation.
- NextGen Healthcare
- eClinicalWorks
- Greenway Health
- AdvancedMD, Inc.
- CureMD Healthcare
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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