Global EHR-EMR Market– overview:
EHR /
EMR or Electronic Health Records/Electronic Medical Record are the modern
technologies of the healthcare services sector and are separated by a very thin
line for differentiation. EHR is a modality in which the information related to
health issues of patients are gathered, managed and created. These generated
information is transferred to and from various licensed clinics, consultants as
well as between the individual staff of the healthcare organization. Contrary
to it, in EMR the information gets gathered, managed and curated by multiple
organizations. EHR-EMR services are
extensively for emergency care and perioperative care in both the on premise
and cloud based settings. Both the industries witnessed a huge growth during
the past few years. Indian Brand Equity Foundation in 2016 stated that the
Indian healthcare sector was one of the fastest growing industries and is
estimated to reach USD 280 billion by 2020. Moreover, there have been huge
incorporation of the telemedicine to deliver the healthcare services to the
rural areas. In the presence of such factors, exploitation of the EHR-EMR
market is expected to grow. On the contrary parts factors such as high cost of
installation of EHR-EMR systems in the presence of lack of technological
advancements in the middle and low income countries restraints the growth of
the market during the forecast period.
The Global
EHR-EMR market is growing with the rapid pace. According to a recent study
report published by the Market Research Future, the Global EHR-EMR market is s
expected to reach USD 120 billion in 2023 from USD 70 billion in 2016 while
growing at a CAGR of 10.9% during the projected period 2017-2023.
Global
EHR-EMR Market- competitive Analysis
The
global market for EHR-EMR is marked by the presence of several well-established
and small players. Thus, the global EHR-EMR market is estimated to be highly
competitive and fragmented. International players in the market are focused on
strategies like expanding their footprint in the developing economies. This
makes it difficult for regional vendors to compete with such huge brand
identity company. The market witnesses this in terms of features, product
quality and portfolio followed by pricing. Such an intense competition in the
market guides the bargaining among marketers.
Well
established players in the global EHR-EMR market grows on the strategy of
acquisition, collaboration, partnership, expansion, and product launches. This
makes the companies to gain competitive advantage and also to maintain market
position of the market.
In
Feb-2015, Cerner Corporation announced that they have completed the acquisition
of Siemens Health Services’ in terms of client relationships and related
associates. Thus, the combined Cerner Corporation and the Siemens business was
estimated to have annual research and development investment value of around
USD 650 million.
In
March-2016, GE won an EHR contract for the Summer Olympic Games of 2016 in Rio.
The
Americas leads the Global EHR-EMR Market due to a well-developed healthcare
sector, increasing adoption of healthcare IT, followed by huge patient
population and growing prevalence of chronic diseases within the region.
Moreover, the presence of the global players like General Electric and growing
healthcare expenditure within the region fuels the market growth during the
forecast period. Europe is second in the global EHR-EMR due to a variety of
factors facilitating the market growth within the region. Factors such as huge
patient population, well developed healthcare sector, and rising acceptance of
the new technologies drives the market growth within the region. Asia Pacific
is the fastest growing region due to a huge patient population and continuously
growing healthcare sector by the developing economies like India, China, and
Australia. Additionally, the growing geriatric population fuels the market
growth. Contrary to such backgrounds, the Middle East & Africa have the
least share of the market due to poor healthcare infrastructure and low per
capita income within the African region. A majority of the market within the
region is held by the Middle East region owing to huge healthcare expenditure
and presence of developed economies like Dubai, Kuwait, Oman and others.
Global EHR-EMR Market Key
Players:
Cerner Corporation (U.S), Epic Systems Corporation (U.S),
Allscripts (U.S), QSI Management, LLC (U.S), General Electric Company (U.S),
eClinicalWorks (U.S), McKesson Corporation (U.S), Greenway Health, LLC (U.S)
and otEHRs are the prominent players at the forefront of competition in the
Global EHR-EMR Market and are profiled in MRFR Analysis.
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