Electronic Health Record (EHR) Market to Grow at a CAGR of 4.9% to reach US$ 20,318.02 Million from 2020 to 2028

Electronic Health Record (EHR) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Installation Type (Cloud-Based, On-Premise); Type (Acute EHR, Ambulatory EHR, Post-Acute EHR); End User (Hospitals, Pharmacies, Diagnostic and Imaging Centers, Ambulatory Care Centers, Other End Users), and Geography

Publication Month: May 2021 | Report Code: TIPHE100000822 | No. of Pages: No. of Pages174 | Category: Healthcare IT | Status: Published

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.

EHRs are patient-centered and real-time digital records that make patient data available instantly and securely to authorized healthcare professionals. The record comprises information regarding patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. The factors such as the increasing adoption of EHRs, rising incentives by federal government, and growing incidences of medication errors drive the growth of the electronic health record (EHR) market.

Lucrative Regions for Electronic Health Record (EHR) Market


Lucrative Regions for Electronic Health Record (EHR) Market

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Market Insights

Growing Incidences of Medication Errors

A medical error is a nightmare scenario that no physician or medical practice wants to face. While most healthcare professionals and many consumers/clients/patients realize that doctors are human beings and sometimes make mistakes, most take measures to ensure accuracy in all aspects of a patient care scenario. Yet, unfortunately, thousands of people do experience some form of medical errors and even preventable deaths on an annual basis. According to a recent study performed by Johns Hopkins, medical errors are now ranked as the third contributing cause of death in the US. Alarmingly, based on data accumulated during the eight-year study, medical errors contribute to approx. 250,000 deaths annually.

Another study by the CDC emphasized that adverse drug events alone cost over US$ 3 billion a year. As of 2014, adverse drug events were the sixth leading cause of death on a national basis. The focus for today is catching potential errors before they happen, especially medication errors that can prevent through medication reconciliation.

Today's EHR systems support automated artificial intelligence, sometimes sifting through massive patient care files. For example, not long ago, a patient with a chronic condition might have a paper record composed of hundreds of pages. Today, an EHR system can quickly sift through data to analyze current and past prescriptions, laboratory tests, treatment plans, diagnoses, medical procedures, and even foods that a patient should stay away from when taking certain medications before or following medical treatment or procedure.

These statistics emphasize that most such medical errors are not implied to be caused by the lack of concern, inattentiveness, or outright misconduct on the part of physicians, but rather the often-confusing lack of communication and access to complete medical records and histories.

The development of electronic health record/electronic medical record technologies can serve to reduce medical errors through more coordinated care enhanced by data sharing and immediate accessibility by any member of a patient's health care team.

Installation Type Based Insights

Based on installation type, the electronic health record (EHR) market is bifurcated into cloud-based and on-premise. The cloud-based segment held a larger share of the market in 2020, and the same segment is anticipated to register a higher CAGR in the market during the forecast period.

Global Electronic Health Record (EHR) Market, by Installation Type– 2020 and 2028

Global Electronic Health Record (EHR) Market, by Installation Type– 2020 and 2028

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Type Mode-Based Insights

Based on type, the global electronic health record (EHR) market is segmented into acute EHR, ambulatory EHR, and post-acute EHR. The acute EHR segment held the largest share of the market in 2020, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.

End User-Based Insights

By end user, the electronic health record (EHR) market is segmented into hospitals, pharmacies, diagnostic and imaging centers, ambulatory care centers, and other end users. The hospitals segment held the largest share of the market in 2020, and the same segment is estimated to register the highest CAGR in the market during the forecast period.

Strategic Insights

Report CoverageDetails
Market Size Value inUS$ 14,054.05 Million in 2020
Market Size Value byUS$ 20,318.02 Million by 2028
Growth rateCAGR of 4.9% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages174
No. of Tables84
No. of Charts & Figures73
Historical data availableYes
Segments coveredInstallation Type ; Type ; End User , and Geography
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Various companies operating in the electronic health record (EHR) market adopt strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.

Electronic Health Record (EHR) Market – by Installation Type

  • Cloud-Based
  • On-Premise

Electronic Health Record (EHR) Market – by Type

  • Acute EHR
  • Ambulatory EHR
  • Post-Acute EHR

Electronic Health Record (EHR) Market – by End User

  • Hospitals
  • Diagnostic and Imaging Centers
  • Ambulatory Care Centers
  • Pharmacies

Electronic Health Record (EHR) Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of South and Central America

Company Profiles

  • 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

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.
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.
Concerns regarding data privacy and physician burnout hinders the growth of the Electronic Health Record (EHR) market.

The List of Companies - Electronic Health Record (EHR) Market

  1. Cerner Corporation
  2. COMPUTER PROGRAMS AND SYSTEMS, INC.
  3. Allscripts Healthcare Solutions, Inc.
  4. McKesson Corporation
  5. Epic Systems Corporation.
  6. NextGen Healthcare
  7. eClinicalWorks
  8. Greenway Health
  9. AdvancedMD, Inc.
  10. CureMD Healthcare
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Electronic Health Record (EHR) market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global Electronic Health Record (EHR) market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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