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

The global electronic health records market size is estimated to grow by USD 32.27 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 12.91% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 41%. The Electronic Health Records (EHR) Market is experiencing significant growth due to the increasing demand from healthcare organizations for affordable and accessible healthcare services. EHR systems offer centralization of patient medical histories, streamlining workflows, and access to evidence-based tools for authorized providers. These benefits lead to increased efficiency and productivity in healthcare administration.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors.

Market segmentation by deployment
In the Electronic Health Records (EHR) market, hospitals, ambulatory care centers, and ambulatory surgical centers utilize both on-premises and cloud-based solutions. On-premises EHR systems, which run on an organization’s native IT infrastructure, offer increased control and are typically licensed software options. These systems can be integrated with business management software like ERP but may involve challenges such as data duplication and customization expenses. On the other hand, cloud-based EHR solutions provide flexibility through subscriptions, professional services, managed services, and support & maintenance. Technology resale is also a business model for EHR systems.

Geographic landscape
The North American Electronic Health Records (EHR) market is dominated by hospitals, ambulatory care, and ambulatory surgical centers. Business models include licensed software, technology resale, subscriptions, professional services, managed services, and support & maintenance. Market growth is driven by stringent regulatory norms and incentivizing policies. The US and Canada lead in EHR adoption, with advanced healthcare IT solutions. Regulatory frameworks are strict, ensuring data security and interoperability. Technavio