Electronic Health Records Market Size, Share & Trends Analysis Report By Product, By Type, By Business Model, By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Electronic Health Records Market Size, Share & Trends Analysis Report By Product, By Type, By Business Model, By Application, By End Use, By Region, And Segment Forecasts, 2024 - 2030

Electronic Health Record Market Growth & Trends

The global electronic health records market size is anticipated to reach USD 43.36 billion by 2030, growing at a CAGR of 4.43% from 2024 to 2030, according to a new report by Grand View Research, Inc. This is due to the increasing adoption of Electronic Health Records (EHRs) for data collection. This data is used to improve patient care by enabling clinicians to identify specific patterns in populations suffering from diseases and make better clinical decisions. Additionally, the use of analytical tools on this data helps predict risk for hospitalizations or readmissions boosting the demand for advanced EHR solutions.

Furthermore, the increasing use of cloud-based EHR systems is expected to drive market growth. Cloud-based EHRs offer numerous advantages over traditional web-based systems, making them highly appealing to healthcare providers. These benefits include easy implementation, cost savings, reduced IT resource requirements, improved accessibility and collaboration, and simplified scalability.

Moreover, cloud-based EHRs enhance data security and tackle interoperability and data exchange challenges, further increasing their adoption. For instance, in August 2023, Microsoft Corp announced a new partnership that allows Epic Systems Corporation clients, first with Mount Sinai Health System, to use Microsoft Azure Large Instances. This would precisely benefit larger Epic electronic health record (EHR) databases, offering support for over 50 million database entries per second with dedicated resources. This new solution enables Mount Sinai and other Epic clients to overcome the restrictions of previously used shared public cloud infrastructures.

Electronic Health Records Market Report Highlights

• Based on product, the web & cloud based EHR segment dominated the overall revenues share as of 2023 and is projected to witness lucrative growth over the forecast period. A high adoption rate by physicians is expected to boost the market growth.
• Based on type, the acute segment dominated the market in 2023. The growth is attributed to the government initiatives for the adoption of EHRs in small-scale facilities.
• Based on end use, the ambulatory use segment which includes physician clinics, laboratories, and pharmacies is expected to exhibit the fastest growth over the forecast period owing to the increasing number of ambulatory care centers globally.
• In terms of business model, the professional services segment dominated the market in 2023 and is expected to grow at the fastest CAGR during the forecast period. Professional services help healthcare systems in the implementation of information systems in their organizations.
• Based on application, the cardiology segment held the largest market share in 2023. The growth of this segment is driven by the increasing incidence of hospitalization of patients diagnosed with cardiovascular diseases such as coronary heart disease and stroke
• North America held a major market share as of 2023, due to the presence of well-established healthcare infrastructure as well as favorable government initiatives regarding population health management.

Please note The report will be delivered in 2-3 business days upon order notification.