Ambulatory EHR Market Worth USD 5.20 Billion by 2021
PUNE, India, May 3, 2017 /PRNewswire/ --
According to a new market research report "Ambulatory EHR Market By Delivery Mode (Cloud-based, On-premise), Application (Practice Management, Patient Management, Referral Management, Health Analytics), Practice Size (Large, Small-to-medium, Solo), End User-Global Forecast to 2021", published by MarketsandMarkets™, the global market is expected to reach USD 5.20 Billion by 2021 from USD 3.92 Billion in 2016, at a CAGR of 5.8% in the next five years (2016 to 2021).
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Browse 85 market data Tables and 61 Figures spread through 160 Pages and in-depth TOC on "Ambulatory EHR Market"
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The report provides a detailed overview of the major drivers, restraints, opportunities, and threats impacting the ambulatory EHR market along with the estimates and forecasts of the revenue and market share analysis.
Growth in this market can be attributed to various factors such as government support for the adoption of HCIT, growing usage of EHR solutions, and the need to curtail healthcare costs. On the other hand, market growth is limited to a certain extent due to factors such as heavy infrastructure investments and the high cost of deployment.
The market is segmented on the basis of delivery mode, application, practice size, end user, and region. On the basis of delivery mode, the market is segmented into cloud-based solutions and on-premise solutions. The cloud-based solutions segment accounted for the largest share of the market in 2016. Cloud-based ambulatory EHR solutions are based on the SaaS (software-as-a-service) model, which utilizes a group of servers to spread data processing tasks across healthcare organizations. In addition, cloud services help curtail costs incurred in the purchase of hardware and the licensing of software.
On the basis of application, the ambulatory EHR market is segmented into practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. The practice management segment commanded the largest share of the global ambulatory EHR market in 2016. This growth can be attributed to the increasing adoption rate among healthcare providers, as they are shifting from pay-per-procedure billing to paying for 'value'-that is, incentives for providing better care efficiently.
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Based on practice size, the ambulatory EHR market is segmented into large, small-to-medium, and solo practices. The large practices segment commanded the largest share of the global ambulatory EHR market in 2016. The small-to-medium-sized practices segment is estimated to register the highest growth rate primarily due to the funding provided by the regional exchange centers (REC) to support the adoption of EHR among these users.
Based on end user, the ambulatory EHR market is segmented into hospital-owned ambulatory centers and independent centers. The hospital-owned ambulatory centers segment commanded the largest share of the global ambulatory EHR market in 2016. The high growth in this segment is attributed to expansion initiatives by hospitals (allowing them to establish ambulatory care centers and necessitating the adoption of solutions for streamlining workflow). In addition, the benefits of EHR solutions, such as operational savings and enabling patient involvement in medical decisions, have also driven their adoption among these end users.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America commanded the largest share of the global ambulatory EHR market, followed by Europe. Asia-Pacific is projected to register the highest CAGR during the forecast period. Factors such as Japan's favorable outlook for HCIT, investments and reforms to modernize China's healthcare infrastructure, digital healthcare scenario in India, and the implementation of e-Health in Australia are likely to boost market growth in the region.
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The major market players in the ambulatory EHR market include Cerner Corporation (U.S.), McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), eClinicalWorks (U.S.), athenahealth, Inc. (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Practice Fusion, Inc. (U.S.), Amazing Charts, LLC (U.S.), eMDs, Inc. (U.S.), GE Healthcare (U.S.), and Greenway Health, LLC (U.S.)
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