The COVID-19 pandemic demonstrated the importance of digital solutions in tackling myriad of challenges confronting healthcare organizations. Digital technologies have taken center stage and will continue to do so. EMR software-managed electronic medical records have transformed the way patient records are entered and processed. Traditional medical records are now housed and managed in different ways due to electronic medical records (EMR). The digital method of maintain patient medical data has benefited the healthcare business by enabling physicians to store all information in one location and readily share records throughout provider offices. Increasing number of patients admitted in the hospitals and growing healthcare spending is expected to contribute towards the growth of the hospital EMR systems market over the forecast period. According to the U.S. Centers for Medicare & Medicaid Services, the Federal Government spending on health care increased 36.0 percent in 2020, much above the 5.9 percent increase in 2019. This accelerated rise was partly due to the COVID-19 epidemic. Also, hospital spending increased by 6.4 percent in 2020 to $1,270.1 billion, slightly faster than the 6.3 percent increase in 2019.
Factors contributing towards hospital EMR systems market expansion include an increase in the number of hospitals adopting EMR systems globally, the need to control rising healthcare costs, and support to enhance hospital EMR solution adoption. Furthermore, stringent adherence to government laws and legislation aimed at simplification of patient care, such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA), has increased the adoption of hospital EMR systems. Centurion Health, in collaboration with the Florida Department of Corrections (FDC) made an announcement stating that the company's transformation to a state-wide electronic medical record (EMR) system has achieved the go live phase of implementation in September 2021. Completing the adoption of an electronic medical records system is one way Centurion uses cutting-edge technology to provide high-quality care in correctional settings.
Our 402+ Pages Report titled, “Hospital EMR Systems Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021 - 2029”, will include extensive information on the following pointers:
- Global market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Years Considered (2015 – 2029)
- Historic Years: 2015 - 2019
- Base Year: 2020
- Forecast Years: 2021 – 2029
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Trends)
- Analysis on Impact of Covid-19: Global Hospital EMR Systems Market
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Benchmarking
- Global Presence and Growth Strategies
- Product Benchmarking
- Market Share Analysis, 2020
- Detailed profiles of major market participants operating in the market, encompassing information pertaining to company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
- Region specific reports including North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available in our repository.
- The reports can be provided in different languages including French, Korean, Japanese, Arabic, Spanish, German, Russian, Chinese and other languages.
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Further key findings from the report are mentioned below:
- Solutions segment in the global hospital EMR systems market held the largest share in 2020. Electronic medical records solutions comprises of features and tools that allow medical providers to create, store, and update patients' digital health records easily and more securely than paper charts. DocPulse EMR/HER, for instance, allows hospitals to digitize all aspect of patient interaction. With the help of electronic medical record software, businesses are able to simplify the recording of medical information. This system is a boon to hospitals, and doctors since it allows healthcare providers to effortlessly record medical data in customizable forms and view the patient history, treatments, and diagnosis along with other crucial data regarding the patients.
- Cloud based deployment model is expected to be the fastest growing segment over the forecast year in the global hospital EMR systems market. Using cloud-based technology in EMR systems has a number of benefits, including lower total cost of ownership (TCO), faster installation timelines, improved accessibility, and reduced hardware requirements for medical practices. Furthermore, by utilizing a cloud-based EMR, practitioners are no longer required to store personal patient information on their own servers. It enables rapid and effective addition of new doctors, patients, users, and locations without incurring significant expense and downtime.
- Web-based platform held the highest share in hospital EMR systems market in 2020. Web-based electronic medical records and health records solutions have grown in popularity in recent decades due to their ease of use. With these systems, users can log in and work with EHR from anywhere they have an internet connection. Also, it offers data security, real-time data access, and allows data to be shared more readily with the appropriate entities.
- Asia Pacific region is expected to grow at the highest growth rate during the forecast years in the global hospital EMR systems market. The region's growth is attributed to the increasing population and consistently developing economies, expanding selection of EMR, and continuous adoption of new technologies in major economies such as China, India, and Japan.
Absolute Markets Insights has segmented the global hospital EMR systems market based on offering, hospital size, deployment type, type, platform, and region.
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Global Hospital EMR Systems Market Offering Outlook (Revenue, USD Million, 2015 - 2029)
- Integrated and Customized
- Support and Maintenance Services
- Training and Consultation Services
Global Hospital EMR Systems Market Hospital Size Outlook (Revenue, USD Million, 2015 - 2029)
- Small and Medium Hospitals
- Large Hospitals
Global Hospital EMR Systems Market Deployment Type Outlook (Revenue, USD Million, 2015 - 2029)
Global Hospital EMR Systems Market Type Outlook (Revenue, USD Million, 2015 - 2029)
- General EMR
- Specialty EMR
Global Hospital EMR Systems Market Platform Outlook (Revenue, USD Million, 2015 - 2029)
- Web Based
- App Based
Global Hospital EMR Systems Market Regional Outlook (Revenue, USD Million, 2015 - 2029)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries, Benelux Union, Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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Key Companies in the global Hospital EMR Systems market are:
- AdvancedMD, Inc.
- AllegianceMD Software, Inc.
- Allscripts Healthcare, LLC
- athenahealth, Inc
- Bizmatics Inc (PrognoCIS)
- Cerner Corporation
- CureMD Healthcare
- Infor-Med Inc.
- InSync Healthcare Solutions
- InterSystems Corporation
- Medical Information Technology, Inc.
- NXGN Management, LLC
- Other Market Participants
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