The global hospital electronic medical records market is valued at an estimated USD 12.0 billion in 2018 and is projected to reach USD 18.3 billion by 2023, at a CAGR of 8.8% during the forecast period.
The key factors driving the growth of this market include the government support for the adoption of EMRs and the rising need to curtail healthcare costs.
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Asia Pacific is expected to witness the highest growth during 2018 to 2023.
The highest growth rate of the Asia Pacific market is attributed to various investments and reforms to modernize China’s healthcare infrastructure, the digital healthcare scenario in India, the “OneSingaporean, one health record” initiative in Singapore, and the implementation of e-health initiatives in Australia.
The key players in the global hospital EMR market are Cerner Corporation (US), Epic SystemsCorporation (US), athenahealth, Inc. (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US),Medical Information Technology, Inc. (US), MEDHOST (US), CPSI (US), and Intersystems Corporation (US).
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Hospital electronic medical records market further segmented into services, software, and hardware. The services segment is expected to grow at highest CAGR during the forecast period.
This can be attributed to the recurring nature of services such as training and education, installation, consulting, and maintenance services.
- To define, describe, and forecast the global hospital EMR market on the basis of mode of delivery, type, component, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, future prospects, and contributions to the overall market
- To profile the key players and comprehensively analyze their product portfolios, market shares, and core competencies in the global hospital EMR market
- To forecast the size of the global hospital EMR market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To track and analyze competitive developments such as partnerships, agreements, contracts, joint ventures, collaborations, expansions, new product launches, and product deployments in the hospital EMR market
The hospital EMR systems market report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
Access “Hospital EMR Systems Market by Component (Hardware, Software, and Services), Mode of Delivery (Cloud based and on premise), Type (General EMR and Specialty EMR), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2023” report @ www.rnrmarketresearch.com/contact…me=1783827 .
The healthcare IT industry relies heavily on service providers for consulting, storage, implementation, training, maintenance, and regular technology upgrades. Introduction of complex software and the integration and interoperability of software, which requires extensive training and upgrades is expected to boost the demand for services in the coming years.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–39%, Tier 2–45% and Tier 3–16%
- By Designation– C-level–24%, Director Level–18%, Others–58%
- By Region – North America–42%, Europe–21%, Asia Pacific–26%, RoW–11%
EMR type, the general EMRs segment is expected to register highest CAGR during the forecast period. General EMRs are designed for use by universal practices.
They have all the functions of EMR, such as CPOE, clinical decision support, controlled medical vocabulary, clinical data repository, ordering, and billing. Due to their multi-function, multi-specialty capabilities, these EMRs can be used in various specialties through flexible functioning and incorporated plugins.
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