Market Portrayal
The latest report has been published to Market Research Future’s offering in this COVID 19 pandemic that states, the Global and US EHR-EMR Market 2020 might strike growth at a percent of 5.82 from 2015 through 2027. With this, this year also, the market would gain revenue of USD 42,427.27 million.
US EHR-EMR Market Boomers & Decliners
The development of healthcare IT and the enormous potential of the sector in combining data as well its capability are to radically surge the efficiency has affected the US EHR/EMR market to a great extent. EHRs and EMRs facilitate medical errors that are often faced at the time of diagnosis and treatment procedure. This occurs owing to a lack of awareness on the part of medical professionals concerning medical history and the therapeutic guidelines specific to the patient. On this, it is reportedly stated that the clinical decisions made using the assistance of EHRs have augmented the efficiency of care and the market as well.
The clinical benefits are essential in its positive influence on the global EHR/EMR market. Growing government support of the EHRs has also been a vital encouraging factor for the adoption of both EHRs and EMRs for subsequent growth in the market on the global level. In a case of point, NMS has employed the Integrated Digital Care Fund (IDCF) to support the shift from paper-based records to digital care records. These types of encouraging and supportive government initiatives are anticipated to induce market growth over the assessment period.
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Segment Review
The global and US EHR-EMR market is further studied over various segments of components, applications, mode of delivery, and end-user.
By the segment of components, the market has included services & consulting software and hardware.
By the segment of the application, the market has included specialty-based and general applications.
By the segment of the mode of delivery, the market has included an on-premise model and cloud-based.
By the segment of end-user, the market has included forensic science laboratories and hospitals.
Regional Framework
Regionally, the US was the leading global EHR market in the year 2018 (with a 64% market share at $14.6B), but its growth is now projected to rise more as new verticals, functionality, and international markets have become a key focus for leading vendors. US vendors grabbed the position of being seven of the top 10 largest EHR vendors, with the other three from the second-largest market in Japan. Therefore, the Americas is likely to lead the global & US EHR-EMR market owing to the escalating adoption of healthcare IT and encouraging incentive programs in the assessment period. The Americas secured the largest market share of USD 11,763.33 million in the year 2017 and is probable to govern the global & US EHR-EMR market by reaching USD 21,307.35 million by 2027 at 5.82% CAGR. It is also owing to the incidence of many key players and technologically advanced healthcare infrastructure in this region.
The government in Europe gradually supported the adoption of electronic health record EHR-EMR facilitates. Such an attempt has made Europe the second largest market share in the year 2017 and will be leading in the forecast period
Asia-Pacific is also predicted to be the fastest-growing market in the future timeframe. In the Asia-Pacific EHR-EMR market, Japan commands the largest share. In China, the market is prejudiced by the factor of rising geriatric population and extensive use of healthcare IT. Emerging economies, such as India, Australia, Singapore, and China, are the most lucrative markets owing to the rising geriatric population, as well as rising the patient pool, and improving healthcare facilities.
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Top Vendors
The core vendors in the global & US EHR-EMR market are Allscripts Healthcare Solutions, GE Healthcare, Advanced Data Systems Corporation, AdvancedMD Inc., Epic Systems, Meddbase (Medical Management Systems Ltd), Agastha, Inc., Koninklijke Philips NV, and Medical Information Technology, Inc. (MEDITECH).