Electronic Medical Records Market Report 2024 (Global Edition)

Global Electronic Medical Records Market Report 2024 Market Size Split by Type (General EMR Solutions, Specialty EMR Solutions, Interoperable EMRs, Others), by Application (E-Prescription, Practice Ma...

Electronic Medical Records Market Report Description

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Electronic Medical Records Market Insights Video

Competitive Landscape of the Electronic Medical Records Market

Many multinational and global firms make up the electronic medical records market, which is both diverse and competitive. Agreements, new product releases, geographic expansions, and mergers are some of the growth tactics the leading competitors utilize to increase their market presence. Market participants are also concentrating on education, price reductions for electronic medical records software and related services, and integrating current technologies with electronic medical records to break into emerging and middle-income markets. 

• In April 2023, the Georgian Bay Information Network, a collaboration of six healthcare organizations in Ontario, is enhancing its utilization of Oracle Health's EHR through the recently initiated multi-year project eNautilus. This includes adding capabilities for advanced clinical services, optimized medication administration, and oncology speciality support. Caregivers anticipate that these enhancements will ease the administrative load on clinicians, increase patient safety, and foster better communication among caregivers at different sites. 
• In November 2023, Veradigm, Inc. introduced a new solution that can help medical offices save time and effort by automating account reconciliation, increasing payment rates, and decreasing the time it takes to get paid. Veradigm Payerpath offers Veradigm Intelligent Payments, a suite of financial communications and payment solutions, thanks to a partnership with RevSpring, an industry-leading and highly acclaimed healthcare engagement and payment solutions provider.

(Source:https://www.allscripts.com/newsroom/)

Electronic Medical Records Industry News

• CareArc, partnered with Health Choice Network (HCN) to launch an Epic EHR implementation

CareArc in collaboration with Health Choice Network (HCN), a federally qualified health center (FQHC) in Kansas, began implementing Epic EHR to enhance patient care.

(Source:https://www.carearc.org/latest-news-posts/carearc-goes-live-with-epic-electronic-health-records-system)

Top Companies Market Share in Electronic Medical Records Industry: (In no particular order of Rank)

• Cerner Corporation (US)
• Epic Systems Corporation (US)
• Allscripts Healthcare Solutions Inc. (US)
• MEDITECH (US)
• CPSI (US)
• GE Healthcare (US)
• Athenahealth Inc. (US)
• MEDHOST (US)
• eClinicalWorks (US)
• NextGen Healthcare (US)
• Intersystems Corporation (US)
• MTBC (US)
• Cantata Health (US)
• Advanced Data Systems Corporation (US)
• CureMD (US)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Asia-Pacific dominated the market in 2023, predicted to show the fastest CAGR of 7.5%.

According to Cognitive Market Research, Asia-Pacific dominated the market in 2023, predicted to show the fastest CAGR of 7.5%. A major element propelling the regional market is expected to be driven by advantageous insurance policies, the existence of major market players in the nation, an increase in the integration of artificial intelligence, and a growing need for the centralization and simplification of healthcare administration. In addition, a growing number of industry participants' mergers and acquisitions are driving the market's expansion during the forecast period.

The Middle East and Africa region accounted for the largest share of the market because of the policies supporting the use of electronic health records and the accessibility of facilities with high levels of digital literacy, as well as the growing demand for quality standards and a strong emphasis on electronic record adoption, are the main factors driving the growth of this region and increasing the digitalization of healthcare is also anticipated to be boosted the demand during the forecast period

The current report Scope analyzes Electronic Medical Records Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Electronic Medical Records Market

According to Cognitive Market Research, North America held a considerable market share in 2023, accounting for more than 40% of global revenue, and will expand with a CAGR of 3.00% from 2023 to 2030. Because of the rapid use of electronic medical record systems, Companies in the North American EMR market are always innovating to satisfy the changing healthcare demands of their customers. Moreover, in the North American area, patient management is presumed to have the fastest growth in the coming years because doctors can monitor their patients with long-term health difficulties with the help of electronic medical records, allowing for proactive management, quick interventions, and preventative care. The encrypted messaging features of many EMR systems further facilitate communication between patients and clinicians. This market sector is anticipated to develop fastest throughout the forecast period. In conclusion, According to Cognitive Market Research, rapid urbanization and growth of government initiatives for healthcare will increase the demand during this region's forecast period.

Europe Electronic Medical Records Market

According to Cognitive Market Research 2023, Europe held a considerable market share in 2023, accounting for more than 28% of global revenue, and will expand with a CAGR of 3.2% from 2023 to 2030. The market is growing due to developments in software technology and the healthcare industry. One factor contributing to this growth is the inclusion of artificial intelligence in developing electronic medical records software. In addition, hospital electronic medical records are predicted to expand rapidly in the European market in the following years due to the elimination of human error inherent in paper-based data and handwritten notes; electronic medical records offer accurate and easy-to-read documentation. The outcome is an improvement in care quality and patient safety. According to the guidelines, you may rest assured that your food will be prepared, kept, and served safely. In conclusion, the Electronic medical records market in the European region with developing countries such as Germany, France, Italy, Spain, Russia, and the Rest of the European countries will witness healthy growth during the forecast period.

Asia Pacific Electronic Medical Records Market

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 23% of global revenue, and will expand with a CAGR of 5.6% from 2023 to 2030. This can be attributed to several factors, such as the government's increased expenditures on the healthcare sector and the region's electronic medical records business, which has been affected by the growing interest in health and wellness. In addition, expanding urbanization and rising consumer disposable income levels will fuel demand. According to Cognitive Market Research, in the Asia-Pacific region, the service category is presumed to witness the most significant growth in the coming years because electronic medical records make it easy for doctors to obtain a patient's complete medical history, which includes results from tests, medications, allergies, and diagnoses. Thanks to this service, better judgments and personalized treatment are available. In conclusion, Asia-Pacific nations, including South Korea, China, Japan, and India, have been at the cutting edge of technology adoption. Electronic medical records are in high demand due to programs spearheaded by the government to increase the utilization of electronic medical record systems, which fuels the industry's growth during the forecast period.

South America Electronic Medical Records Market

According to Cognitive Market Research, Latin America held a considerable market share in 2023, accounting for more than 5.00% of global revenue, and will expand with a CAGR of 4.00% from 2023 to 2030. This is because there are significant market players for electronic medical records, and the region's general expansion of regulatory contexts because of the increasing workflow interruptions are all factors that are increasing demand in the electronic medical records market in this region. According to Cognitive Market Research, the Latin American market is expected to increase in the following years because administrative tasks are made easier with electronic medical record systems, leading to less paperwork and more efficiency. Appointment setting, invoicing, and medication delivery are all part of this, improving overall market electronic general EMR solutions category growth. In conclusion, rapid urbanization and technical improvement in the electronic medical records business have contributed to Latin America's rising economies. This is positive because it creates more chances in this region, resulting in healthy growth over the next few years.

Middle East and Africa Electronic Medical Records Market

According to Cognitive Market Research, the Middle East and Africa held a considerable market share in 2023, accounting for more than 4.00% of global revenue, and will expand with a CAGR of 4.2% from 2023 to 2030 due to factors such as the growing number of product launches, technological advances, and the use of electronic medical records in healthcare settings. According to Cognitive Market Research, the on-premise electronic medical records category will expand in the coming years because on-premise electronic medical record systems provide a great deal of leeway for personalization to match unique business requirements. Customization options allow healthcare practitioners to tailor the system to their needs, including reporting requirements, workflows, and patient care processes. In conclusion, According to Cognitive Market Research, initiatives in infrastructure development and increasing focus on patient engagement in healthcare in the Middle East and Africa will grow significantly during the forecast period.

Electronic Medical Records Market Analysis

Electronic Medical Records Type Segment Analysis

According to Cognitive Market Research, general EMR solutions hold a prominent market share because general electronic medical record systems streamline administrative processes, allowing for more efficiency and less paperwork. This includes appointment scheduling, billing, and prescription administration.

The speciality EMR solution is the fastest-growing category over the forecast period because speciality electronic medical record systems often include clinical decision support features that provide advice, reminders, and notifications tailored to various medical specialities. Healthcare workers can use this data to their advantage by making educated judgments that adhere to best practices.

• General EMR Solutions
• Specialty EMR Solutions
• Interoperable EMRs
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electronic Medical Records Industry. Request a Free Sample PDF!

Electronic Medical Records Application Segment Analysis

According to Cognitive Market Research, patient management holds a prominent market share because electronic medical records allow doctors to keep tabs on patients who have long-term health issues, which aids in proactive management, rapid interventions, and preventative care. Additionally, many electronic medical records systems have encrypted messaging capabilities that make communication easy for doctors and patients.

Population health management is the fastest-growing category over the forecast period. Using electronic medical record data, healthcare practitioners can do population health risk assessments to identify patients most at risk for developing specific diseases. This allows for preventative actions and focused interventions.

• E-Prescription
• Practice Management
• Referral Management
• Patient Management
• Population Health Management
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Electronic Medical Records End-Use Segment Analysis

According to Cognitive Market Research, the hospital holds a prominent market share due to electronic medical records providing accurate and readable documentation by eliminating the possibility of mistakes caused by handwritten notes and paper-based data. This enhances both patient safety and the quality of care.

Speciality centres are the fastest-growing category over the forecast period because the area of specialization medical conditions and treatments specialized to a speciality may have their own set of patient education materials made available by electronic medical record systems. This helps patients comprehend and participate in their healthcare.

• Hospitals
• Specialty Centers
• Clinics
• Ambulatory Surgical Centers
• Others 

Electronic Medical Records Component Segment Analysis

According to Cognitive Market Research, service held the major market share over the forecast period because healthcare providers have easy access to a patient's medical history, including tests, prescriptions, allergies, and diagnoses, thanks to electronic medical records. Better decisions and individualized treatment are made possible by this service.

Software is the fastest-growing category over the forecast period. Many electronic medical records systems come with patient portals where patients can see their medical information, lab results, appointment scheduling, and doctor-patient communication tools. As a result, a sense of agency and participation is encouraged among patients.

• Services
• Software
• Hardware

Electronic Medical Records Delivery Mode Segment Analysis

According to Cognitive Market Research, on-premise holds a prominent market share as businesses can customize security measures to their requirements and risk profiles using on-premise solutions. Important medical records warrant this degree of protection.

Cloud-based is the fastest-growing category over the forecast period. Because of the scalability offered by cloud-based solutions, healthcare companies can increase or decrease their infrastructure capacity according to their needs. Businesses experiencing rapid expansion or unpredictable workloads will appreciate this adaptability, contributing to the market's growth.

• On-Premise
• Cloud-Based

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

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Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

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