Global Ophthalmology EHR market is expected to grow at a CAGR of 4.9% during the forecast period 2019–2026.
Ophthalmology electronic health record (EHR) is a small part of the overall EHR market. Growing digitalization in healthcare coupled with favourable incentive scheme, constantly growing support in the form of grants. Rising popularity of American Recovery and Reinvestment Act for adopting electronic medical records (EMR), and fundraised by government bodies to promote the adoption of EHR are projected to boost the ophthalmology EHR market.
The market growth is mainly attributed to rapidly developing healthcare sector and the government auxiliary activities to improve public health and medical scenario of the world. Growing digitalization in healthcare coupled with favorable incentive scheme, constantly growing support in the form of grants, rising popularity of American Recovery and Reinvestment Act.
Global ophthalmology EHR market is segmented by product, type, end users, and region.
On the basis of Product Type
The market is segmented into cloud-based software devices, server-based / on premise software devices. Cloud-based software devices is likely to hold largest share in segment owing to cost effective and convenient option.
On the Basis of Type
The ophthalmology EHR market is segmented into inpatient EHR and ambulatory EHR. Inpatient EHR is expected grow at highest CAGR during forecasted period.
Based on End Users
The market is segmented into hospitals, clinics, specialty centers, and others. Hospitals is projected to grow at highest CAGR in this segment.
By region, global ophthalmology EHR market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America ophthalmology EHR market is projected to dominate over the forecast period on account of government funding encouraging the meaningful use of certified EHR technology across health care facilities and high spending on research and development. The U.S. is expected to dominate the regional ophthalmology EHR market owing to high expenditure on advanced healthcare facilities, improved infrastructure, and rising penetration of IT in the healthcare industry.
Europe is expected to witness significant growth in the global ophthalmology EHR market during the forecast period. In Europe, on an average 10% GDP is spent on healthcare of which 7.2% is attributed to medical technologies. Germany has substantial healthcare market with health IT applications representing USD 284 million and is expected to reach USD 631.3 million by 2020.
Asia Pacific is predicted to be the fastest growing market for ophthalmology EHR services over the forecast period. Rising R&D expenditure, improving healthcare infrastructure, and growing presence of MNCs operating is helping to boosting growth of the market. Medical tourism is forecasted to witness considerable growth in China, driven by current health care reform efforts, relatively low medical service costs, highly qualified medical personnel, and favorable government policies.
LAMEA is expected to witness a limited growth for ophthalmology EHR market during the forecast period. Lack of funds, poor infrastructure, lack of government initiatives, and late technology adoption is restraining the market growth. However, the African region has huge potential for health IT application research and development owing to presence of huge untapped opportunities in the region. Brazil is the largest market for ophthalmology EHR in the region.
Some of the key players in the global ophthalmology EHR market
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