Global Hospital EMR Systems Market By Component (Software, Services, and Hardware), By Delivery Mode (Cloud-based, and On-premise), By Type (General EMR Solutions and Specialty EMR Solutions), By Hospital Size (Small and Medium-Sized and Large Hospitals), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)-Global Forecast to 2027
Global Hospital EMR Systems Market Overview:
Electronic medical records (EMR, Electronic Medical Record) are also called as a computerized medical record system or computer-based patient record (CPR, Computer-Based Patient Record). It uses digital equipment to save, manage, transmit, and reproduce digitized patient medical records, replacing handwritten paper medical records. Its content includes all the information of the paper medical record. Electronic medical records not only refer to static medical record information, but also related services provided. Information about the lifelong health status and medical care behavior of individuals is managed electronically, involving all process information of patient information collection, storage, transmission, processing, and utilization.
Global Hospital EMR Systems Market Insights
The global hospital EMR systems market size was valued at USD 13.64 billion in 2019 and expected to generate USD 23.72 billion by 2027, growing at a CAGR of 6.87% during the forecast period, 2020-2027. The growth of the market is driven by the increasingly large number of hospitals adopting EMR solutions globally. The growing need to reduce escalating healthcare costs and government support to increase the adoption of hospital EMR solutions. Additionally, the rapid pace of digitization in healthcare services, and rise in demand in hospital EMR systems for improving productivity in medical practices and improving the quality of care for patients will spur the global hospital EMR systems industry. The mounting awareness about the importance of EMR for enhancing the efficiency of patient care and maintenance of patient records will augment the growth of the hospital EMR systems market.
Moreover, the rise in the adoption of software solutions such as data mining, clinical decision support system, and clinical trial management systems will foster the growth of the hospital EMR systems market. The rising efforts by various governments in several countries to streamline in-patient care and growing need to cut down the cost of healthcare in hospitals for patient population will complement the industry. The increasing adoption of electronic healthcare records for streamlining workflow and enhancing patient care delivery is anticipated to increase hospital EMR systems’ demand. Furthermore, the swelling of government expenditure in developing countries and funding for the development of healthcare IT solutions for better diagnosis and treatment of patients will stimulate the global hospital EMR systems market share. The flexibility in customization in meeting the needs of various general and specialized health professionals will accelerate the robust growth of the hospital EMR systems industry in the analysis timeframe.
Growth Driver
Increasing expenditure on healthcare
According to WHO, the global healthcare expenditures are rising rapidly, especially in low- and middle-income countries. The average annual growth of health expenditure in these countries is 6%, and the average annual growth rate of high-income countries is 4%. Healthcare expenditures consist of government expenditures, out-of-pocket payments, voluntary health insurance, employer-provided medical plans, and NGOs’ activities. New data shows that more than half of health expenditures go to primary healthcare in low- and middle-income countries. But less than 40% of all primary healthcare expenditure comes from the government.
Government support for the adoption of EMR solutions
Various government has put millions into training health information technology workers and establishing regional extension centers to provide technical and other advice. Hospitals’ requirements to implement information transformation become more urgent, simplify procedures, and improve medical efficiency. It is necessary to organically integrate these two relatively independent systems into a complete hospital information management platform. The integrated hospital information center will provide digital hospitals with support for HIS, PACS, LIS, CIS, EMR, R1S, EMR, R1S, and other business systems. It ensures that the entire system can provide maximum data throughput and the fastest response speed and reliable and quality data protection.
COVID-19 Impacts Insights
Recently, the outbreak of COVID-19 has vigorously affected the healthcare system of developed and developing countries globally. The surge in demand for hospital services during the COVID-19 pandemic, EMR solutions are changing the rules of the game, such as the need for temporary bubble-out respiratory monitoring beds as needed to accommodate the changing number of cases and track the health of employees who have exposed to COVID-19. These solutions help to manage cases, analyze data, and remotely assess the health status of patients.
Component Segmental Analysis
Based on the component, the global hospital EMR systems market segregated into software, services, and hardware. The services segment was identified as the largest component segment in the year 2019 due to the recurring nature of services, including training and education, installation, consulting, maintenance services, and the rise in the number of patients admitted to hospitals.
The software will grow at a significant rate during the forecast period due to the surge in adoption of EMR for prioritizing task donut, patient cards & physician dashboard to unify all roles of practice to improve clinical care.
Delivery Mode Segmental Analysis
Based on the delivery mode, the global hospital EMR systems market classified into cloud-based and on-premise. The cloud-based segment accounted for the largest share of the hospital EMR systems market in 2019 and will witness to gain maximum market revenue by 2027. It is attributable to the benefits such as the users with multiple payment models, convenience for clinics, pharmacies, small-scaled laboratories, and limited hardware infrastructure requirements that reduce the cost of system installation.
The on-premise segment is poised to witness the highest CAGR significant growth in 2019 as on-premise offer enhanced control, inventory data safety, and cost benefits in the long term.
Type Segmental Analysis
Based on the type, the global hospital EMR systems market categorized into General EMR Solutions and Specialty EMR Solutions. The general EMR solutions are projected to expand at a higher CAGR from 2020 to 2027. It is attributed to the multifunction, multi-specialty capabilities of general EMRs, enabling their use in various specialties through flexible functioning and incorporated plugins.
Hospital Size Segmental Analysis
Based on the hospital size, the global hospital EMR systems market classified into small and medium-sized and large hospitals. Small and medium-sized are expected to be the highest revenue share for hospital EMR systems during the forecast period. The segment’s growth is primarily attributed to the faster adoption of EMRs in small and medium-sized hospitals on account of factors such as ease of transfer of patient data among healthcare providers, lower upfront costs, and ease of deployment.
The large hospitals will witness a lucrative growth rate in the estimated period due to the EMR offering computerized physician order entry, clinical data repository, clinical decision support, and controlled medical vocabulary.
Region Segmental Analysis
Based on geography, the global hospital EMR systems market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to gain a maximum growth rate over 2020-2027. It is owing to the government mandates for implementing EHR solutions in hospitals, rapid digitalization of patient care, and increasing the adoption of EMR in primary care across the region.
The Asia Pacific will capture a prominent share of the hospital EMR systems market by 2027. Due to the growing awareness about electronic healthcare record systems and their increasing importance and supportive government programs and policies.
Competitor Analysis
Companies such as Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., MEDITECH, CPSI, GE Healthcare, Athena health Inc., MEDHOST, eClinicalWorks, NextGen Healthcare, Intersystems Corporation, MTBC, Cantata Health, Advanced Data Systems Corporation, and CureMD are the key players in the global hospital EMR systems market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global hospital EMR systems manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to hospital EMR systems
- Regulatory bodies
- Suppliers
- Retailers
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Component
- Software
- Services
- Hardware
By Delivery Mode
- Cloud-based
- On-premise
By Type
- General EMR Solutions
- Specialty EMR Solutions
By Hospital Size
- Small and Medium-Sized
- Large Hospitals
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Supply Chain Analysis
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- New Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Impact of COVID-19 on global Hospital EMR Systems
- Global Hospital EMR Systems Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Units)
- Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Component
- Demand
- Market Size & Forecast, 2016-2027
- North America Hospital EMR Systems Market Overview
- North America Hospital EMR Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Unit)
- North America Hospital EMR Systems Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Country
- US
- Canada
- Mexico
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Hospital EMR Systems Market
- By Component
- Demand
- North America Hospital EMR Systems Market Size & Forecast, 2016-2027
- Europe Hospital EMR Systems Market Overview
- Europe Hospital EMR Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Units)
- Europe Hospital EMR Systems Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Hospital EMR Systems Market
- By Component
- Demand
- Europe Hospital EMR Systems Market Size & Forecast, 2016-2027
- Asia Pacific Hospital EMR Systems Market Overview
- Asia Pacific Hospital EMR Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Units)
- Asia Pacific Hospital EMR Systems Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Hospital EMR Systems Market
- By Component
- Demand
- Asia Pacific Hospital EMR Systems Market Size & Forecast, 2016-2027
- South America Hospital EMR Systems Market Overview
- South America Hospital EMR Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Units)
- South America Hospital EMR Systems Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Country
- Brazil
- Argentina
- Rest of South America
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Hospital EMR Systems Market
- By Component
- Demand
- South America Hospital EMR Systems Market Size & Forecast, 2016-2027
- Middle East & Africa Hospital EMR Systems Market Overview
- Middle East & Africa Hospital EMR Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- By Volume (Number of Units)
- Middle East & Africa Hospital EMR Systems Market Share & Forecast, 2016-2027
- By Component
- Software
- Services
- Hardware
- By Delivery Mode
- Cloud-based
- On-premise
- By Type
- General EMR Solutions
- Specialty EMR Solutions
- By Hospital Size
- Small and Medium-Sized
- Large Hospitals
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Hospital EMR Systems Market
- By Component
- Demand
- Middle East & Africa Hospital EMR Systems Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Cerner Corporation
- Epic Systems Corporation
- Allscripts Healthcare Solutions, Inc.
- MEDITECH
- CPSI
- GE Healthcare
- athenahealth, Inc.
- MEDHOST
- eClinicalWorks
- NextGen Healthcare
- Intersystems Corporation
- MTBC
- Cantata Health
- Advanced Data Systems Corporation
- CureMD
- Other Prominent Players