Asia Pacific Is Projected to be the Fastest Growing Market in the Ophthalmology EHR Market

Tue, 21 May 2019 2:42

These records can be shared easily for effective treatment across different healthcare settings to track patients’ medication information and history such as diagnostic information, medical history, laboratory & tests results, allergy information and other information. Government initiative to increase adoption of EHR system such as the Centers for Medicare & Medicaid Services (CMS) has conducted Promoting Interoperability (PI) Programs to emphasize improving patients’ access to health information and achieve interoperability, which is a priority of physicians. According to the Centers for Medicare & Medicaid Services (CMSs), in 2018, more than 546,644 healthcare providers received payment for participating in the Medicare and Medicaid PI Programs.

Market Segmentation

Ophthalmology EHR Market is segmented into product, type, end users, and region.

On the basis of product, Ophthalmology EHR market is segmented into medical devices, services, systems & software. Systems and software segment is offering high growth opportunities and is gaining importance among the end users due to primary focus on device management and integration, information security, data collection, and data analytics which helps in reducing delivery time and cost of projects; ultimately driving the market growth.

By type, the market is segmented into telemedicine, workflow management, connected imaging, inpatient monitoring, medication management, and others. The inpatient monitoring is expected to grow at the highest CAGR during the forecast period due to continuous observation or measurement of a patient’s physiological functions for guiding management decision and making therapeutic interventions.

On the basis of end user, Ophthalmology EHR market is segmented into hospitals, surgical centers, and clinics, clinical research organizations (CRO), government, and others. Clinical research organization (CRO) segment is expected to witness the highest CAGR during the forecast period owing to its offering that supports to biotechnology, pharmaceutical, and medical device industries in the form of research services. The surgical center's segment is estimated to have the largest market size in 2017, as it requires efficient managing of medical equipment.

Regional Analysis

By geography, Ophthalmology EHR market is segmented into North America, Europe, Asia Pacific, and the LAMEA.

North America is a leading region in the ophthalmology EHR market, owing to rising penetration of connected devices in healthcare, evolution of artificial intelligence (AI) technology and reduced cost of patient care. Furthermore, the U.S. government announced an investment of over USD 160 million in federal research and development technology partnership to create improved smart city services, in 2015, which is expected to drive the ophthalmology EHR market in this region.

Europe is a second largest growing region in the ophthalmology EHR market, followed by Asia Pacific due to adoption of IoT enabled healthcare devices. Additionally, the market growth is driven by increasing need to improve both operational efficiency and patient experience in the region. Moreover, healthcare providers in Europe are being challenged with improving patient care and satisfaction while facing increasing time pressures and budget cuts. Thus, demand for IoT enabled healthcare service and solution is expected to increase in Europe in the next few years.

Asia Pacific is projected to grow at highest CAGR in the ophthalmology EHR market during the forecast period due to growing government initiatives to encourage healthcare providers & other healthcare organizations to adopt EHR & EMR technology.

LAMEA is anticipated to grow at healthy growth rate owing to development in healthcare sector.

Key Players

Some of the key market players in the Ophthalmology EHR market include Allscripts, NextGen Healthcare, Inc., EyeMD EMR Healthcare Systems, Inc., MedNetworx, Eye Care Leaders, Nextech Systems, LLC, Rev360, and Modernizing Medicine.