The present valuation of the U.S. electronic health records market is pegged at US$ 8.1 billion, with expectations of surpassing US$ 12.4 billion by the conclusion of 2032. Forecasts indicate a consistent and gradual expansion at a Compound Annual Growth Rate (CAGR) of 4.3% spanning the period from 2022 to 2032. Consequently, this market is poised to offer substantial financial opportunities, with an estimated worth of US$ 4.3 billion by the end of 2032.
An electronic health record (EHR) serves as a digital repository securely housing medical information that is accessible to healthcare professionals and authorized users. It functions as a comprehensive digital representation of patients’ medical histories, meticulously managed and curated by medical practitioners.
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Market Dynamics:
The growth of the U.S. EHR market is driven by several key factors:
1. Government Initiatives
Government initiatives, including the HITECH Act and the Meaningful Use program, have provided incentives and penalties to encourage healthcare providers to adopt EHRs. These initiatives aimed to improve the quality and safety of patient care.
2. Advancements in Technology
Advancements in technology, particularly in cloud computing and mobile solutions, have made EHRs more accessible and user-friendly. Healthcare providers can now access patient data from their mobile devices, improving the efficiency of patient care.
3. Data Security
With concerns about data security and privacy, EHR vendors have invested heavily in robust security measures to protect patient information. This has contributed to the growing acceptance of EHRs in healthcare.
4. COVID-19 Pandemic
The COVID-19 pandemic accelerated the adoption of telemedicine and digital health solutions, further highlighting the importance of EHRs in supporting remote patient care and data exchange.
5. Patient Engagement
EHRs are increasingly integrating patient portals, allowing patients to access their health records, communicate with healthcare providers, schedule appointments, and view test results. Patient engagement is a critical aspect of modern healthcare.
Competitive landscape:
Prominent players in the United States electronic health records market are focusing on advancements in software technology. They are also incorporating artificial intelligence in the development of electronic health record software and solutions to gain an edge over competitors in the market.
Increasing research & developmental activities along with constant technological innovations by prominent companies will support their growth in the market in the long run.
- Oracle Corporation agreed to acquire Cerner Corporation in 2021. The company is a leading provider of digital information systems that are used in hospitals, enabling medical professionals to deliver better healthcare.
- Constellation Software Inc. agreed to acquire Allscripts Healthcare Solutions in 2022. This acquisition is likely to be a cornerstone for the company providing key strategic components to become a digital health leader, benefitting customers over the coming years.
Fact.MR has provided detailed information about the price points of key electronic health record solution providers positioned across regions in the U.S., sales growth, production capacity, and speculative technological expansion, in the recently published report.
Key Companies Profiled:
- Cerner Corporation
- Allscripts Healthcare, LLC
- NextGen Healthcare, Inc.
- eClinicalWorks
- HMS Networks
- CPSI Corporation
- AdvancedMD, Inc.
- CureMD Healthcare
- Greenway Health, LLC
U.S. Electronic Health Records Industry Research Categorization
- by Solution:
- EHR Software
- Cloud-based EHR
- On-premise EHR
- Services
- Consulting
- Implementation & Integration
- Support & Maintenance
- EHR Software
- by End Use:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Diagnostic Labs
- Others
- by Region:
- West U.S.
- South-West U.S.
- Mid-West U.S.
- North-East U.S.
- South-East U.S.
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Questionnaire answered in the Market outlook Report of U.S. Electronic Health Records include:
- What is the key strategy deployed by large players to maximize U.S. Electronic Health Records Market growth?
- What are the main challenges faced by players in the U.S. Electronic Health Records market Demand?
- With the advent of technological advancement, how will the U.S. Electronic Health Records market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the U.S. Electronic Health Records market size?
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