Global Report on Electronic Medical Records Market

A growing number of healthcare institutions around the world are adopting electronic medical record (EMR) systems. Electronic medical records form an integral part of the advancing healthcare IT industry. The technological benefits of EMRs are projected to drive the overall efficiency of healthcare institutions. In addition to this, the higher efficiency of paperless administration is also supporting the growth of the global electronic medical records market.

Increasing Portability and Accessibility of EMRs to Drive Global Market

A paperless administration in a healthcare setting is a more sustainable and scalable set up. Furthermore, this setup helps minimize errors in a healthcare facility and also helps store data in a centralized repository, which will further fuel the global electronic medical records (EMRs) market.

Besides the rising demand for paperless administration, the global electronic medical records (EMRs) market will also benefit from the rising portability and accessibility of medical document management systems. Moreover, the global electronic medical records market will also be driven by the rising technological developments and modernization in the healthcare management system.

It is now widely accepted that the broad adoption of electronic medical record (EMR) systems will result in major healthcare savings, improved efficiency, and improved health outcomes for patients. On the basis of end users, the global electronic medical records market is segmented into home health agencies, clinics and nursing homes, and hospitals.

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North America to Lead Global EMRs Market

By geography, the global electronic medical records (EMRs) market is divided into North America, Asia Pacific, Europe, and Rest of the World (RoW). The Western markets of North America and Europe are projected to witness good growth in the coming years. North America is leading the global electronic medical records market, trailed by Europe.

The North America electronic medical records (EMRs) market is driven by the favourable healthcare reforms and federal incentives to contain healthcare-related costs. In addition to this, this regional electronic medical records market also benefits from the growing demand for integration of healthcare systems, improved patient care due to EMR implementation, rising share of IT in healthcare expenditure, and the elevated return of investment (ROI) via efficient utilization of EMRs.

Asia Pacific is expected to emerge in the global electronic medical records (EMRs) market as the most promising regional market. Some of the factors supporting the growth of this regional EMR systems market are the rising demand for better quality of care and growing initiatives from governments to opt for patient flow management solutions and electronic health records (EHRs). Further, the accelerating need to improve management of patient data and reduce record retention costs will also drive this regional electronic medical records market.

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Companies in Global EMR Systems Market Offering Novel Solutions

The global electronic medical records (EMRs) market is highly competitive in nature and is marked with the presence of several international and domestic key players. The firms operating in the global electronic medical records market are offering novel systems and software to drive demand for digital management of health information. These companies have helped simplify the complex medical records and successfully achieved quality incomes. Two of the key software delivery modes in the global electronic medical records market are cloud and on-premise.

Some of the top companies operating in the global electronic medical records (EMRs) market are 3M Company, Hyland Software, Toshiba Medical Systems Corp., McKesson Corporation, Allscripts Healthcare Solutions, Epic Systems, and GE Healthcare. In 2010, Allscripts stood out as the market leader in the U.S. electronic medical records market.

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Electronic Medical Records Market - Market Analysis Report, 2015 - 2023

An electronic medical record is a digital version of paper-based medical information of patients. Such electronic medical records are aimed at improving the overall quality of care. Electronic medical record comprises combination of clinical, financial, demographic and coded healthcare data. Many government organizations have also stressed upon the significance of electronic medical records. For instance, according to the World Health Organization, the proper collection, management and use of information within healthcare systems will determine the system’s effectiveness in detecting health problems, defining priorities, identifying innovative solutions and allocating resources to improve health outcomes. Currently, a number of hospitals and clinics are using electronic medical records to store important documents related to the patient’s illness. The information repository of individual patients would lead to better security and quick data retrieval whenever required.

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Based on software delivery mode, the electronic medical records market can be segmented as follows:
Cloud: Cloud computing software allows centralized data storage and online access to services with multiple sites across geographic locations but do not support remote access to existing network. The software possesses the flexibility to allow anywhere and anytime access of data records.
On-premise: On-premises software, also known as shrink wrap, is installed and operated from the premises of the person or any organization. It makes use of the organization’s local computing resources and requires a licensed software copy from an independent software vendor
Based on end users, the electronic medical recordsmarket can be segmented as follows:
Hospitals
Clinics and nursing homes
Home health agencies

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Geographically, the electronic medical recordsmarket can be segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World (RoW). Out of these four regions, North America holds a leading position in the market followed by Europe. The prime factors driving the growth of the electronic medical recordsmarket in these regions are increased portability and accessibility of medical document management systems, and growing demand for paperless environment to minimize human error. Furthermore, technological advancement and modernization in the healthcare management system and improved clinical studies are also expected to augment the growth of the electronic medical records market in North America and Europe. Asia Pacific is one of the fastest growing regions globally and is expected to emerge as the most promising market for the growth of the electronic medical records market. The factors which would boost the growth of the market in Asia Pacific are growing demand for better quality of care, and increasing government initiatives to opt for patient flow management solution and electronic health records (EHRs). Moreover, better management of patient’s information record and increasing need to minimize records retention costs is also expected to accentuate the growth of the electronic medical recordsmarket in Asia Pacific.

Various companies offer novel systems and software for the management of health information. Such companies have simplified the complex medical records, hence achieving quality outcomes. Some of the top companies operating in the electronic medical recordsmarket are 3M Company, Toshiba Medical Systems Corp., Hyland Software, Siemens Medical Solutions, McKesson Corporation, Henry Schein, Inc., Allscripts Healthcare Solutions, Inc., WRS Health, Medical Information Technology, Inc. (Meditech), Cerner Corporation,Quest Diagnostics, GE Healthcare, Epic Systems, SequelMed, Kofax Limited and others.