The global electronic health records (EHR) systems market was valued at $20,961.2 million in 2014 and it is expected to grow at a CAGR of 6.2% during the period 2015 – 2020. The global EHR systems market is increasing due to growing demand for better healthcare facilities. Older people are more prone to diseases, due to less regenerative abilities and thus, require better healthcare facilities. Increase in geriatric population worldwide is resulting in growth of global EHR systems market. In addition, with the increase in chronic disease cases, the need for better healthcare facilities is increasing, which is resulting in increased demand for EHR systems. Increasing government initiatives, need for advanced healthcare information system and growing investment by healthcare IT players are further encouraging the growth of the global EHR systems market.
Based on delivery mode, the web based/cloud based market is expected to witness higher growth (7.6% CAGR) compared to client based server, during the forecast period (2015-2020). Among the end users, the hospital EHR systems led the global EHR systems market in 2014 with the larger market size. However, the ambulatory EHR systems is expected to grow at a faster rate during the forecast period.
Various healthcare reforms have been passed worldwide to reduce the cost and improve the quality of healthcare services. Governments of various countries are taking initiatives to encourage the use of EHR systems, as these systems help to reduce healthcare costs and maintain quality of healthcare services. The need for better healthcare facilities through improved and effective quality of treatments is driving the demand for integrated healthcare systems..
However, certain restraints such as high maintenance and service expenses for EHR systems and lack of security and privacy are hindering the market growth. In addition, lack of skilled professionals for efficient handling of the EHR systems also restrains the market. The increasing awareness about EHRs and improving healthcare facilities in developing countries, such as China, India, and Brazil, are laying significant opportunities for EHR systems market. Asia-Pacific EHR systems market is expected to witness the fastest growth (CAGR 7.1%) globally during the period 2015 – 2020.
The key companies operating in the global EHR systems market include eClinicalWorks, McKesson Corporation, Cerner Corporation, Allscripts, GE Healthcare, athenahealth Inc, Epic Systems Corporation, MEDITECH, Quality Systems Inc. and Healthland.
News Courtesy: P&S Market Research