Electronic health record solutions are utilized for storing patient-related data in a systemized and accurate digital format. They help physicians in staying up to date on patient information. Electronic health record solutions also eliminate the risk related to data replication and also decrease the requirement for unnecessary paperwork.
These records comprise data related to the medical history, demographics, medication and allergies, immunization status, radiology images, vital signs, laboratory test results, and personal statistics including the weight and age of the patients. The information stored on electronic health records can be shared amongst a number of healthcare settings through enterprise-wide or network-connected information transfer systems.
Increasing Use of EHR Solutions in Asia Pacific to Drive Growth
Electronic health record (EHR) solutions enable physicians to implement information technology in healthcare operations, which also helps in the streamlining of routine medical procedures. This factor has raised the demand for these solutions amongst physicians, thus driving the growth of the global electronic health records solution market. In addition, governments in a number of nations are providing incentives to encourage the swift adoption of EHR solutions, thus augmenting the development of the market.
Furthermore, the rapid expansion of the EHR solutions market in the region of Asia Pacific will further provide impetus to the growth of this market. On the other hand, the soaring costs of the installation of EHR systems and the absence of expert healthcare IT professionals may negatively impact the growth of the electronic health records solution market.
SaaS-based EHR Systems to Register Highest Growth Rate
On the basis of installation, the market is segmented into software as a service (SaaS), client server-based, and web-based EHR systems. Amongst these, client server-based EHR systems held the largest share in the market in 2014. This is owing to their benefit of swift data transmission to a client site from a server site in comparison to other types of EHR systems. However, in terms of growth, the market for SaaS-based EHR systems is expected to witness the highest growth rate till 2023 owing to the increasing demand for these systems from small organizations. In addition, the low cost involved in the deployment of SaaS-based EHR systems will also raise their demand in forthcoming years.
Deployment of EHR Solutions Highest in Hospitals
By end use, the electronic health records market is categorized into ambulatory centers, physician offices, and hospitals. Of these, the deployment of EHR solutions is the highest in hospitals. 59% of hospitals had EHR solutions in 2013 and the majority of these hospitals have installed client server-based EHR solutions. On the other hand, most hospitals are poised to install cloud-based HER solutions from 2015 to 2023 due to the ongoing development in the arena of cloud computing.
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Latin America, APAC to Become Key Consumers of EHR Systems
Geographically, the market is classified into Europe, North America, Latin America, Asia Pacific, and Rest of the World (RoW). Of these, the North America electronic health records solution market constituted the largest share in 2014. This is owing to the increasing number of favorable policies implemented by the governments in various nations of North America. On the other hand, Latin America, trailed by Asia Pacific, is expected to emerge as the most rapidly growing market in the coming years due to the increasing development of healthcare infrastructure in a number of nations.
4medica, Athenahealth, Inc., CPSI, Epic Systems, Medical Information Technology, Inc., and NextGen Healthcare, among others, are the key players dominant in the market.