Large healthcare IT companies are facing competition from electronic medical record (EMR) specialists as the market continues to grow, according to Kalorama Information’s latest report, “EMR 2014: The Market for Electronic Medical Records.”
Large healthcare IT companies are facing competition from electronic medical record (EMR) specialists as the market continues to grow, according to Kalorama Information. The healthcare market research firm cited the rise of Verona, WI-based Epic from fourth to third place in its market share estimates as evidence of the rise. In its report “EMR 2014: The Market for Electronic Medical Records,” Kalorama says that larger companies will continue to see pressure.
“Epic is making inroads into the market and will undoubtedly provide sustained competition for Cerner in this area,” said Mary Ann Crandall, Kalorama analyst and the author of the report. “McKesson, although strong in the industry as a whole, seems to be losing hospital market share to some of the other companies more targeted in EMR.”
Epic is a private company that has steadily increased it revenue strength from $31 million in 1997 to an estimated $1.8 billion in 2013. Because Epic is a private company, revenues have been estimated by Kalorama in its report. Recently the firm became a provider for CVS/Caremark and clinic in its retail stores.
Smaller and mid-size companies gained some share from giants. Epic systems made slight share gains. Epic also grew at the expense of Allscripts which was plagued by internal management issues. McKesson, GE Healthcare and Siemens lost a small amount of share.
The 23 billion-dollar plus market for EMR is a fragmented, according to Kalorama. 52% of the market is held by scores of other companies, up from 42% last year. The report says there is still no one clear leader in the EMR market and there is opportunity for entrants, particularly in web offerings. Due to the fragmented industry, there seems to be room for additional mergers and acquisitions and new players.
This is the seventh year that Kalorama has studied the market for EMR. Their report, “EMR 2014: The Market for Electronic Medical Records,” contains detailed segment breakouts for EMR market revenues such as software, hardware and services. The report also contains a breakout by user including hospitals and physicians. Detailed profiles of companies in the market and market share of top players are included. The report can be obtained at http://www.kaloramainformation.com/EMR-Electronic-Medical-8100400/.
About Kalorama Information — Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at http://www.kaloramainformation.com.
