Electronic Health Records [EHR] Market is Projected to Reach US$ 57.38 Billion By 2032, Rising Demand for Efficient Patient Data Management & Enhanced Healthcare Quality

The Electronic Health Records (EHR) market is witnessing significant growth, propelled by a confluence of factors including technological advancements, regulatory support, and evolving healthcare needs.

Pune, July 03, 2024 (GLOBE NEWSWIRE) — Electronic Health Records (EHR) Market Size Analysis:

“As per the SNS Insider Research, The Electronic Health Records (EHR) Market size, valued at USD 32.53 billion in 2023, is expected to grow up to USD 57.38 Billion by 2032, registering a CAGR of 6.56% from 2024 to 2032.”

AI-Driven Analysis of EHR Data Poised to Transform Alzheimer’s Prediction and Propel Electronic Health Records Market Growth

A High Growth in Electronic Health Records (EHR) Market to be observed under AI Examination of EHR Data for Alzheimer prediction However, with early detection and intervention it’s expected that AI can decrease patient outcomes from this crippling disease greatly. In addition, as technology progresses and personalized medicine becomes ubiquitous with individual risk factors being defined by EHRs-correspondingly the hospitals would be required to checkout Electronic Health Record.

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Major Players Analysis Listed in this Report are:

  • NextGen Healthcare, Inc.
  • McKesson Corporation
  • Cerner Corporation (Oracle)
  • CureMD Healthcare
  • GE Healthcare
  • AdvancedMD, Inc.
  • Veradigm LLC (Allscripts Healthcare, LLC)
  • CPSI
  • Epic Systems Corporation
  • Health Information Management Systems
  • eClinicalWorks
  • Medical Information Technology, Inc. (Meditech)
  • Greenway Health, LLC
  • Other Players

Scientists are studying the role of artificial intelligence in examining EHR data and forecasting Alzheimer’s Disease, then ran this through a suite of machine learning algorithms that sifted through the vast quantities of anonymized EHR data, which included diagnoses, lab tests results demographics and visit history. The research points to the potential for AI that can analyze EHR data by accurately Predicting Alzheimer’s risk when accounting for demographic information, and identified specific patterns in medical history associated with future development of Alzheimer’s. Risk factors- such as very high blood fat, heart failure or even a lack of vitamin D- appeared to vary widely in how long before the stroke they showed up in the records. For men, the system identified chest pain to be at higher risk for fraud than osteoporosis in women Dive into the biological mechanisms using EHR data linked to genetics and biochemical databases, investigators further fleshed out some of these risk factors. Further, this study indicates a need for state-of-the-art advanced analytics in EHRs. This makes it a lucrative opportunity base for EHR vendors to develop and embed AI capabilities, leading Electronic Health Records (EHR) market moving further. Predicting and perhaps preventing conditions such as Alzheimer’s naturally leads to a paradigm shift in healthcare systems, where preventive care would play an important role. EHRs which can aid this transition by allowing risk assessments and early detection will be adding more worth.

Together, the June 2024 study by the National Institute on Aging shows how AI-powered EHR analysis can offer accurate prediction of Alzheimer’s and also highlight a new approach to personalized health-care that leverages active prediction based on routine clinical data. The opportunity for this advance to not only improve health but also be involved in expanding the Electronic Health Records (HER) market is enormous.

Electronic Health Records (EHR) Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 32.53 Billion
Market Size by 2032  US$ 57.38 Billion
CAGR  CAGR of 6.56% From 2024 to 2032
Base Year  2023
Forecast Period  2024-2032
Historical Data  2020-2022
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Key Growth Drivers Revolutionizing Healthcare with Improved Care, Efficiency, and AI Integration

Segmentation Dynamics

By Products, web-based EHRs currently possess the biggest share of the market, particularly for smaller practices. The reason they are popular is that working with them requires no internal servers and also allows you more flexibility to customize. The primary form is based on client-server, but that will become the less used model. They provide higher levels of security, due to data storage on-site rather than offsite cloud servers leverage multi-physician facilities works well.

The Electronic Health Records (EHR) market is designed around the individual systems of specific healthcare settings. Currently the largest market for EHRs is acute care based on Type, follow mandates or incentives from the government enabling adoption by smaller facilities such as hospitals. Many healthcare practitioners continue to turn toward ambulatory care EHRs – that is, software for outpatient clinics and smaller practices – because of its simplified UI/UX as well as greater federal advocacy throughout the COVID-19 global pandemic. Finally, the post-acute care sector will grow based on increasing outlays for rehab centers and other types of services. EHRs for this segment should be able to handle patient care post-hospital.

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The EHR market is like any other in that it uses a number of different Business Models to reach customers. This is led by the professional services sector that supports healthcare systems in adopting EHR. At the same time, these services range from project management to specialized technical expertise and workflow optimization as well as legal compliance guidance or staff training. Nevertheless, there are other models beyond professional services technology resale includes selling licensed software and add-ons that are developed by third-party vendors to make full healthcare offerings. This software may range from licensed application software, to system architecture and data systems with algorithms built into it. The market is offering rendered managed services, ongoing user and technical support & maintenance that requires initial acquisition of the license together with miscellaneous functionalities.

The EHR market is divided on the primary End User basis i.e. hospitals and ambulatory care. Currently, the market is dominated by hospitals because of their large chunk of medical data and benefits associated with EHR implementation per USD 1 cost compared to smaller ambulatory care centers. Despite this, the EHR market for ambulatory surgical centers (ASCs) is experiencing growth. More than half of ASCs (54.6%) already use EHRs, according to a 2021 survey; adoption is highest in physician-owned facilities (62.2%). This trend demonstrates the rise of ASCs, even more so with newer formed clinics beginning to see value in using EHRs.

Electronic Health Records (EHR) Market Key Segments:

By Product

  • Client Server-Based EHR
  • Web-Based HER

By Type

  • Acute
  • Ambulatory
  • Post-Acute

By Business Models

  • Licensed Software
  • Technology Resale
  • Subscriptions
  • Professional Services
  • Others

By End Use

  • Hospital Use
  • Ambulatory Use

Regional Analysis

North America, particularly the United States leads the EHR market that dominance can be chalked up to several ingredients mixing together that have spawned a rich EHR ecosystem. Supportive government moves that not only accelerate EHR adoption but also construct the necessary infrastructure to push digital healthcare solutions upstream. This makes the perfect soil for deployment of HER and the importance of a favourable regulatory environment and safety cannot be overstated. With government mandates such as the Federal Health IT Strategic Plan in place to ensure these EHR systems are secure and trustworthy, healthcare organizations can implement EHR solutions-image in confidence. As a result, demand for advanced healthcare technology creates high competition among EHR vendors. The compliance with regulations and the necessity of guaranteeing that data may interchange between disparate systems stirs innovation in features, ease-of-use and economy. This competitive market is currently home to top names such as Epic Systems, NextGen Healthcare, eClinicalWorks, Cerner Corporation and Allscripts competing with one other in a bid to provide the optimal healthcare specific EHR system.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Global Electronic Health Records (EHR) Market Segmentation on the basis of Installation type

9. Global Electronic Health Records (EHR) Market Segmentation on the basis of Type

10. Global Electronic Health Records (EHR) Market Segmentation on the basis of Application

11. Global Electronic Health Records (EHR) Market Segmentation on the basis of End-User

12. Regional Analysis

13. Company Profiles

14. Competitive Landscape

15. Conclusion

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