Hospital EMR Systems Global Market Report 2021 - COVID-19 Growth and Change

Market Overview

The global Hospital EMR Systems market size is estimated at 24.21 billion USD with a CAGR of 8.9% during the forecasted period from 2021-2028. EMR is electronic medical record, a digital record of health data of a patient. This typically consists detailed data relatedto medical history, diagnosis, treatment, imaging reports, and so on. The key factor that drives the global Hospital EMR Systems market is attributed to increasing adoption of EMR systems in hospitals. Also, increasing government initiatives for implementing EMR is positively impacting the market growth. In addition, the growing need to reduce healthcare cost is expected to propel the market size. Moreover, high-tech innovations in health informatics coupled with ever increasing demand for electronic healthcare system is estimated to boost the market growth. Furthermore, the current COVID-19 pandemic can significantly fuel the market growth owing to increasing patient pool. EMR system helps in efficient patient data management owing to several featured offered such as decreased medical errors, updated patient data, streamlined billing, etc. is projected to nurture the market growth. On the other hand, huge investment, deployment cost and security concerns may pose a threat to the market growth.

Growth Factors

Emerging government reforms for adoption of EMR systems in hospitals and surge in demand for diminishing healthcare cost are key driving factors of the market. However, high needed for raising investment and high infrastructure and deployment cost might hamper the market growth. Moreover, EHR solution coupled with cloud tech would provide lucrative opportunities for the market in coming years.

Market Segmentation

The global hospital EMR Systems market is mainly classified based on type, component, and mode of delivery. Type is further classified into general EMR and specialty EMR. By component the market is divided into hardware, software, and services. By mode of delivery the market is further bifurcated into cloud based and on-premise. Based on segments, on-premise mode of delivery had registered a remarkable share in the past and will continue its trend in the coming years. It helps to deliver services such as prevents inventory data, cost relaxation, and enhace control and safety. On the other hand, mode of delivery segment will register the highest CAGR in the forecoming years as the system prove advantageous for the end-users concerning high chances of data breach, notifies buyer about upgradation, and provides training to employees on new features, and many more.

Regional Analysis

Based on geography, the global hospital EMR systems market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. By geography, North America is highly potent region and firmly act as a revenue generator for hospital EMR system market. Digital transformation, emerging government policies in favour of healthcare industry, and rapid influx of investment are the key factors that have a serious impact on the global hospital EMR market. Further, due to major contribution this region has received several grants from the government that further earns maximum share from this region.

Market Leaders

Key players operating in the hospital EMR Systems industry include Allscripts Healthcare Solutions Inc., athenahealth Inc., Cerner Corporation, CPSI, eClinicalWorks, Epic Systems Corporation, Intersystems Corporation, MEDHOST, and Medical Information Technology Inc. among others. One of the product offered by the Intersystems Corporation is ‘TrakCare’. It is considered as world’s most proven EMR system. Moreover, ‘TrakCare’ enables to deliver efficient, safe, and deliver better coordination for care on-site. In addition, ‘TrakCare’ compiles a complete set of administrative, clinical, and departmental module sharing through a single data model. Furthermore, the new product is specialized to bring change in mobility, deliver the best user experience, and offer visibility in whichever device the consumer is using. Besides that, on October 2, 2019- Medical Information Technology Inc. officially announced the collaboration with Google cloud to bring EMR/EHR to the public cloud. The new collaboration will turn the dice in favour of Medical Information Technology Inc. The collaboration will provide better delivery services in the coming years and will prove advantageous for the enterprises to raise acess to patients data, enhance scalability, and facilitate interoperability.

Hospital EMR Systems Market Key Segments:

By Type

• General EMR
• Specialty EMR

By Component

• Hardware
• Software
• Services

By Mode of Delivery

• Cloud based
• On-premise

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC Countries
  • Egypt
  • South Africa
  • Rest of Middle East & Africa