EHR market to grow by USD 32.27B from 2023-27

The Electronic Health Records (EHR) market is forecast to increase by USD 32.27 billion, at a CAGR of 12.91% between 2022 and 2027. North America is set to contribute 41% to global market growth, driven by well-established healthcare IT infrastructure and EHR adoption. The region, led by the US and Canada, benefits from stringent regulations and incentivizing policies, fostering widespread implementation of advanced healthcare IT solutions like EHR.

Government initiatives supporting EHR adoption is a major driver fueling the market growth:
Government support for EHR adoption drives market growth by easing implementation and providing financial assistance to healthcare systems. Initiatives like the UK’s NHS Long Term Plan prioritize digital transformation, while region-specific efforts worldwide promote digital healthcare services, fostering market expansion.

• The growing use of connected devices and technologies is a major trend influencing the market.
• Rising data security and privacy concerns are major hindrances to the market growth.

Market overview:
The Electronic Health Records (EHR) Market is experiencing significant growth, driven by the increasing adoption of digital solutions by healthcare organizations worldwide. Deals in the market are on the rise, leading to substantial software revenue and increased demand for professional services implementations. Centralization and streamlining of healthcare administration processes are key drivers of market expansion, propelled by initiatives such as Medicare and Medicaid EHR Incentive Programs. Product insights reveal a growing preference for web-based EHR systems among physicians and healthcare providers, as well as client server-based EHR solutions. Different categories of EHR systems include acute EHR, ambulatory EHR, and post-acute EHR, catering to the needs of hospitals, ambulatory care centers, and ambulatory surgical centers. Revenue streams in the market include licensed software, technology resale, subscriptions, professional services, managed services, and support & maintenance offerings. Technavio