Rising Level of Competition to Generate Promising Growth Opportunities in EHR Market

The global electronic health records (EHR) market is competitive in nature and is projected to experience a significant rise in the level of competition. The rapid growth in digitalization is considered as one of the major factors expected to enhance the overall growth of the market in the next few years. Some of the key players operating in the electronic health records market across the globe are Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Cerner Corporation, eClinicalWorks, Epic Systems, CPSI, GE Healthcare, Greenway Health, LLC, 4medica, Medical Information Technology, Inc., McKesson Corporation, and NextGen Healthcare. The leading players in the market are focusing on research and development activities, which are predicted to enhance the overall growth of the market in the near future. Furthermore, the rising number of mergers and acquisitions are projected to enhance the competition level among the players in the coming years. In 2016, the global market for EHR was worth USD 23.22 billion. The market is estimated to reach a value of USD 38.29 billion by the end of 2025, exhibiting a healthy 5.7 percent CAGR between 2017 and 2025.

Asia-Pacific and Europe are projected to witness high growth. The high growth of these two regions can be attributed to the rise in the geriatric population and the potential rise in the pressure of restriction on the healthcare expenses. In addition to this, the increasing requirement of remote monitoring and the growing need of patients care are some of the other factors that are predicted to encourage the growth of these two regions. Furthermore, the rapid growth of the healthcare sector is another key factor predicted to enhance the market growth in the near future. On the basis of installation, the web based electronic health records segment is projected to witness high growth in the next few years, leading the global market in the near future. Furthermore, the software as a service segment is anticipated to grow at a rapid rate in the next few years, thanks to the rising preference of physicians across the globe.

The increasing number of benefits with EHR system and the rising monetary incentives are some of the key factors that are anticipated to encourage the growth of the global electronic health records market. The enhancement of the patient data and the reduced healthcare cost in the long term cases are further projected to accelerate the overall growth of the market in the near future. In addition to this, the development of the healthcare sector and the maintenance of the medical history of patient data, expanded patient support, and the enhanced effectiveness of healthcare providers are some of the other key factors that are predicted to generate promising growth opportunities in the market. – Transparency Market Research