Posted December 16, 2015 by admin in Latest News
 
 

Electronic Health Records Market: North America and Europe Firm Foothold Will Continue to 2020

Medelinked Launches Partner Programme to Meet Global mHealth Development Challenge
Medelinked Launches Partner Programme to Meet Global mHealth Development Challenge

Healthcare industry is witnessing a paradigm shift from the paper world to a paperless one. According to the U.S. Centers for Disease Control and Prevention (CDC), nearly 54% of physicians had adopted an EHR system in 2011 and more than 50% physicians that are currently without an EHR system plan to implement one within the next year. In January 2013, Jeremy Hunt, the Secretary of State for Health, U.K., announced that the National Health Service (NHS) will go paperless by 2018, indicating a substantial growth of EHR market in the U.K.

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During the forecast period between 2014 and 2020, the global EHR market is expected to expand at a CAGR of 6.4%. On the basis of installation type, the global EHR market has been broadly segmented into web-based EHR systems and client server-based EHR systems. The client server-based EHR systems represented the larger segment of the overall EHR market in 2013, in terms of revenue. However, during the forecast period from 2014 to 2020, web-based EHR systems market is expected to grow at a CAGR relatively higher than that of the client server-based EHR systems market. The nominal upfront cost associated with web-based EHR systems will be the key factor driving market growth worldwide.

On the basis of end-user, the global EHR market has been segmented into hospitals and ambulatory centers. Hospitals accounted for the larger segment of the overall EHR market revenue in 2013. According to the American Hospital Association’s (AHA) Annual Health IT Survey, more than nine out of 10 hospitals were equipped with certified EHR systems in the U.S. in 2013, and approximately six out of 10 hospitals were equipped with EHR with advanced functionalities, representing a five-fold increase since 2008. Majority of hospitals have adopted client server-based EHR systems, primarily because it allows transmission of data from server to the client at a higher rate as compared to cloud-based EHR systems. However, during the forecast period between 2014 and 2020, the market for EHR systems used in ambulatory centers is expected to witness a significant growth rate. Increasing penetration by cloud-based EHR service providers is likely to play a key role in the market growth of EHR systems used in ambulatory centers, primarily because ambulatory centers have to pay little or no upfront cost for cloud-based EHR systems. The governmental and non-governmental organizations encouraging physicians to adopt EHR systems is one of the reasons, driving market growth of EHR systems.

In terms of geography, the global electronic health records (EHRs) market has been segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). North America with a market share of 42.6% represented the largest regional market for EHR in terms of revenue in 2013, followed by Europe and Asia-Pacific. North America and Europe are expected to retain their leading position through 2020, primarily due to the increased governmental funding for EHR implementation. In Asia-Pacific, Japan, China, India, Australia and New Zealand are the markets that exhibit immense opportunities for companies. In RoW, the EHR market would be characterized by increasing market penetration by multinational companies.

The global EHR market is dominated by players such as Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems, Medical Information Technology, Inc. (MEDITECH), McKesson Corporation, NextGen Healthcare (Quality Systems, Inc.), Computer Programs and Systems, Inc. (CPSI), GE Healthcare and eClinicalWorks. Of these, Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., Epic Systems and GE Healthcare collectively accounted for more than 50% share of the overall EHR market in terms of revenue in 2013.

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