Electronic Medical Records (EMR) Market Share 2021: Global Trends, Key Players, Industry Analysis Report | FMI

06/apr/2021 15:11:01 Ankush Nikam Contatta l'autore

Leadingelectronic medical records developers are pushing for the implementation of administrativepatches to suit emergency preparedness parameters required during the pandemic.

The  electronic medical records (EMR) market  is anticipated to display a healthy 5.6% CAGR during the forecastperiod from 2015 to 2025. The ongoing coronavirus pandemic is positivelyimpacting the industry, as telehealth and healthcare administration applications generate high demand. Research and development activities towardsemergency preparedness will support market growth in the near term.

"The globalhealthcare industry making rapid strides toward digitization of data andoperations. Major initiatives by governments, such as the adoption andstandardization of electronic medical records, and appropriate training theworkers in the healthcare sector will support market growth for the foreseeablefuture,"says the FMI report.

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Electronic Medical Records -Primary Takeaways

ElectronicMedical Records - Growth Factors

  • Widespread implementation ofgovernment-run nationwide strategies towards the adoption of EMR supportsmarket growth.
  • Automation improvements tohealthcare administration systems, will generate key opportunities for marketgrowth.

ElectronicMedical Records - Major Constraints

  • Data privacy and security concernsremain a key challenge of EMR developers and market players.
  • High costs associated to thedeployment and maintenance of EMR systems reduce adoption rates.

TheProjected Impact of Coronavirus

Whileelectronic medical records have aided healthcare practitioners in better accessto patient data and administrative co-ordination, most systems in the industryare no build to work for pandemic conditions. High rates of covi-19 testinghave made it important for market players to focus not only on tracking andbilling applications, but also on emergency preparedness parameters. As such,the pandemic has generated very lucrative opportunities of development formarket players in the short term.

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CompetitionLandscape

The electronic medicalrecords market comprises players including but not limited to GE Healthcare, Cerner Corp., Greenway Health LLC, McKesson Corp., NextGen HealthcareInformation Systems LLC, Medical Information Technology Inc., and Epic SystemsCorp.

Participants in theelectronic medical records (EMR) market are pushing for product development andlaunches to meet requirements of wider ranging healthcare sector applications, generating new revenue streams.

For instance, MediQuanthas introduced CommunityArchive, a new ambulatory electronic medical recordssystem, for low cost services. McKesson Corp has unveiled its Augmedixelectronic health records charting service aimed primarily towards specialtyhealthcare practices. Also, Cerner Corp. has collaborated with Veterans Affairsin the United States to build a US $ 16 billion electronic medical recordsproject in Washington.

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MoreAbout the Study TheFMI study provides detailed insights on electronic medical records. The marketis broken down in terms of product (hospital and ambulatory), end use (hospitals, general physician clinic, specialized clinic, and ambulatory surgical center), component (software and services) and delivery mode (client server, cloud based, andhybrid) , across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).

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