Electronic Medical Records (EMR) Market Top Key Players, Trends, Regional Insights and Industry Dynamics 2031

According to Future Market Insights (FMI) in its most recent market report, the electronic medical records (EMR) market will grow at a 7.8 percent CAGR from 2021 to 2031. Pandemics and an increased burden on the healthcare system drove significant growth in the EMR market in 2021.

The EMR market grew by 5.5 percent year on year in 2021 and is expected to exceed a valuation of US$ 21.5 billion by the end of 2021. Increasing government support for EMR implementation in the United States under the Health Information Technology for Economic and Clinical Health (HITECH) Act is a key factor driving regional demand for EMR.

Furthermore, efforts by various governments to encourage digital transformation in healthcare will benefit the market. As policies are implemented to help health care systems go paperless by digitising medical records, EMR deployment will increase.

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NHS Digital’s Terminology Server went live in June 2021, under the government of the United Kingdom, allowing the healthcare IT system to collaborate with multiple healthcare facilities while transitioning medical reports and data.

The increased number of illnesses in children and infants, as well as the growing need to create reliable appointment charts for children and parenting, will drive up demand for EMR. The increasing use of EMR at various stages of clinical trials, as well as the use of web applications in EMR management, will drive the market for electronic medical records (EMR).

However, the high cost of digitising EMR is becoming a growing source of concern as it raises healthcare costs. Rising government funding and rising customer spending power will drive market growth.

Key Takeaways from FMI’s Electronic Medical Records (EMR) Market Study

  • North America electronic medical records (EMR) market is forecast to grow at 8.2% CAGR during the assessment period backed by stringent data protection laws, favorable insurance policies and thriving healthcare industry in U.S. and Canada.
  • Due to rising demand for better patient experience and digitization of medical records in U.K and Germany, Europe EMR market will expand at 7.5% CAGR during the forecast period.
  • Australia is forecast to exhibit tremendous growth owing to increased government spending on integrating artificial intelligence with electronic health report solutions and development of unified EMR service for easy access of patient’s medical details from anywhere in the country.
  • Japan is estimated to account for 31.5% of East Asia market share as of 2021. Increasing economic development and rising population will create lucrative opportunities for growth in East Asia.
  • Service based EMR are expected to showcase elevated demand and is forecast to hold more than 60.12% of global EMR market share throughout the assessment period.
  • The clinical segment of end use will experience tremendous and is expected to account for more than 27% of global market share by the end of 2031.

Who is Winning?

According to FMI, the top EMR market players are Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions Inc., GE Healthcare, McKesson Corporation, and NextGen Healthcare. They control approximately 65 percent of the global market.

Market participants are forming strategic alliances, mergers, and acquisitions in order to accelerate product development and strengthen their position in this highly competitive market.

They also conduct extensive research and development in order to expand their product portfolio. They are also working on developing low-cost EMR services in order to expand into emerging markets.

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In March 2021, MEDITECH introduced new genomic electronic medical and health record solutions. According to the company, the new service will improve the effectiveness of precision medicines by assisting users in dealing with complex genomic data.

Physician’s Computer Company (PCC) partnered with the Comprehensive Health and Decision Information System (CHADIS) in May 2021 with the goal of reducing the time it takes to access screenings for issues such as asthma, ADHD, depression, and even parenting.

Additional Information on the Global Electronic Medical Records (EMR) Market

FMI’s latest report provides an unbiased analysis of the global electronic medical records (EMR) market, with historical data from 2015 to 2025 and forecast statistics from 2021 to 2031.

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