Market revenue for Electronic Health Record (EHR) will reach massive heights by 2028
Acute EHR Segment to Register Highest CAGR During 2021–2028
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. Increasing adoption of electronic health records (EHRs), growing incidences of medication errors and rising incentives by federal government is driving the growth of the market.
Electronic Health Record (EHR) Market was valued at US$ 14,054.05 million in 2020 and it 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 leaders operating in the market have undertaken various organic growth strategies in the Electronic Health Record (EHR) Market. The Electronic Health Record (EHR) market majorly consists of the players including. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
The growth of the electronic health record (EHR) market can be attributed to the factors such as the increasing adoption of Electronic Health Records (EHRs), rising incentives by federal government, and growing incidences of medication errors. However, concerns regarding data privacy and physician burnout hinder the market growth. Cerner Corporation, Computer Programs and Systems, Inc., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, eClinicalWorks, Greenway Health, AdvancedMD, Inc., and CureMD Healthcare are among the major companies operating in the market.
In Apr-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- Pexip, a leading provider of enterprise video conferencing and collaboration solutions, announced a native integration with the electronic health record system, Epic. With a focus on providing an easy to use, secure system for patients and healthcare providers, the integration makes it simple to start a scheduled video meeting.
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.
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