Global EHR market set for rapid growth

According to Zion Market Research, the global electronic health records (EHR) market was valued at approximately USD 2542.00 million in 2017 and is expected to generate a revenue of around USD 4019.00 million by end of 2026, growing at a CAGR of around 5.2 percent. Notable advantages associated with the EHR system and financial incentives by governments of various countries are amongst the major factors driving the growth of the market, all over the world. In the United States of America, around 90 percent of physicians are making use of EHRs. As per research, the annual healthcare spending of the United States of America had reached around USD 2.9 trillion in 2011, which increased up to USD 3.5 trillion by 2015. According to NEHRS (National Electronic Health Records Survey) in 2015, around 78 percent of physicians registered using a certified EHR system and 87 percent of physicians reported using an EHR system. These percentages are anticipated to increase in the near future owing to growing technological developments and the advantages of EHR provided to doctors and patients.

Owing to advantages such as low deployment costs and automatic data back-up, the web-based EHR system is more popular among medical professionals and is anticipated to hold significant market share. The high installation fees for client server-based EHR system anticipates limiting the growth of the segment; however, since additional control and proper management on data and software is provided by the client-server based EHR system the segment anticipates having demand in the coming years. North America is anticipated to remain the leading region attributing to high adoption of EHR systems in the region along with the favorable government policies. Asia-Pacific is expected to grow at the highest CAGR owing to the developing healthcare infrastructure and increasing disposable income. Developing nations such as China and India are the most prominent markets owing to the rapid adoption of healthcare IT and significant economic growth.