India to Hold the Lion’s Share in the Electronic Medical Records Market

An electronic medical record includes information about a patient’s health history, such as diagnoses, medicines, tests, allergies, immunizations, and treatment plans. The records can be seen by all healthcare providers that are taking care of the patient to help make recommendations about the patient’s care. Many of the concerned fraternities, including state healthcare agencies, medical industry leaders, and practitioners, believe that EMR has immense potential to provide substantial benefits to the healthcare facility, as well as help physicians, clinic practices, and health care organizations in providing better medical care and accurate diagnosis.

Impact of Coronavirus Pandemic on the Electronic Medical Records Market

The recent coronavirus pandemic has put the EMRs through the extremes. With a huge surge in patient volume, the market leaders are pressurized in innovating and developing a more accurate and faster-paced EMR system that would provide a quick narrative about the patient’s medical history and stimulate a faster treatment process.

Most of the healthcare-based organizations are involved in making serious efforts for the treatment of COVID-19. However, with the unusual surge in the number of patients at varied times, it is more challenging for hospitals to manage, update, store, and utilize patient information from EMR systems precisely. The healthcare-based digital IT players are thriving to provide a solution to the healthcare organizations with tools to manage a case, analyze the information, as well as assess the patients remotely.

In light of this pandemic, the electronic health record-electronic medical record has seen more R&D investments,and vendors are trying to modify their existing systems to provide a service with smooth functionality. For instance, in January 2020, Epic Systems Corporation released a software update in the home state that helps clinicians to identify potential COVID-19 patients. Further, the company is encouraging users to share COVID-19 data through its network, which can be used to track travel, infection-status information with both Epic and non-Epic networks.

Key Highlights

• The electronic medical report marketwas valued at USD 27,100 million in 2019 and is expected to grow with a CAGR of6.3%
• North American holds the largest share of the global EMR systems market, followed by Europe. The large share of market revenue in this region can be attributed to various important factors such as the government support and favorable incentives that help in the implementation of EHR solutions in hospitals, clinics, and medical help institutes
• India spearheads Asia-Pacific’s EMR market on account of a steady spike in the usage of electronic medical records and other electronic and digital equipment in the healthcare industry

Key Players

• Cerner Corporation (the U.S.)
• Epic Systems Corporation (the U.S.)
• Allscripts Healthcare Solutions, Inc. (the U.S.)
• MEDITECH (the U.S.)
• GE Healthcare (the U.S.)
• NextGen Healthcare (the U.S.)
• Intersystems Corporation (the U.S.)
• Cantata Health (the U.S.)
• Advanced-Data Systems Corporation (the U.S.)
• CureMD (the U.S.)

Electronic Medical Record Market: Segmentation

By Component

• Software
• Services
• Hardware

By Application

• General Application
• Specialty-Based

By Delivery Mode

• Cloud-based

• On-Premise

By End-User

• Hospital and Clinics
• Diagnostic Centers
• Ambulatory Care
• Research Laboratories

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany
• The U.K.
• France
• Italy
• Spain
• Russia
• The Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Korea
• Australia
• Southeast Asia
• The Rest of Asia-Pacific

Central and South America and the Caribbean

• Brazil
• Argentina
• Chile
• The Rest of Central and South America and the Caribbean

The Middle East and Africa

• South Africa
• Egypt
• The UAE
• Saudi Arabia
• The Rest of MEA