NEW YORK, August 19, 2015 /PRNewswire/ --
The global electronic medical record (EMR) systems market was valued at $12,971.0 million in 2014 and it is expected to grow at a CAGR of 9.2% during the period 2015 - 2020. The global EMR systems market is increasing due to increasing demand for better healthcare facilities. Older people are more prone to diseases, syndromes and sickness due to less regenerative abilities and thus require better healthcare facilities. Increase in geriatric population worldwide is resulting in growth of global EMR systems market. In addition, with the increase in chronic disease cases, the need for improved healthcare services is increasing, which is resulting in increased demand for EMR systems. Improvement in healthcare services and rising disposable income are further encouraging the growth of EMR systems, as adoption of latest technology is becoming more affordable.
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Based on components, the software market is expected to witness the highest growth during the forecast period. Among the application segments, the hospital EMR systems led the global EMR systems market in 2014 with the largest market size but the laboratory EMR systems is expected to see the fastest growth of 9.7% CAGR during the period 2015 - 2020. By technology, the cloud-based technology is gaining popularity in the EMR systems market. The cloud-based EMR systems market grew at an average annual growth rate of over 10% from 2011-2014.
The information and data in the publication "Global Electronic Medical Record Systems Market Size, Share, Development, Growth and Demand Forecast to 2020" represent the research and analysis of data from various primary and secondary sources. The bottom-up approach has been used to calculate the global EMR systems market by delivery mode, by component and by application. The market numbers for countries are obtained through top-down approach. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, aided by informed and detailed online and offline research.
Various healthcare reforms have been passed worldwide to reduce the cost and improve the quality of healthcare services. Governments of various countries are taking initiatives to encourage the use of EMR systems, as these systems help to reduce healthcare costs and maintain quality of healthcare services. The need for better healthcare facilities through improved and effective quality of treatments and lower costs is driving the demand for integrated healthcare systems. Integrated healthcare systems compile services related to diagnosis, treatment, care and rehabilitation; and maintain all this in the form of EMRs. The increasing investments from healthcare IT players are also escalating the EMR systems market globally.
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However, certain restraints such as high maintenance and service expenses for EMR systems are hindering the market growth. In addition, lack of skilled professionals for efficient handling of the EMR systems also restrains the market. Rural areas in the developing countries are emerging as a potential opportunity for EMR systems market. Demand for powerful IT systems in diagnostic and medical laboratories, is expected to create new demand for EMR systems market during the forecast period. The increasing awareness about EMRs and improving healthcare facilities in developing countries, such as China, India, and Brazil, are laying significant opportunities for EMR systems market. Asia EMR systems market is expected to witness the fastest growth of CAGR 11.4% globally during the period 2015 - 2020.
The key companies operating in the global EMR systems market include eClinicalWorks, GE Healthcare, McKesson Corporation, Cerner Corporation, Allscripts, athenahealth, Inc, Epic Systems Corporation, Quest Diagnostics Incorporated, MEDITECH, NextGen Healthcare Information Systems, LLC, Siemens AG, and Carestream Health.
EMR SYSTEMS MARKET SEGMENTATION
EMR Systems Market by Delivery Mode
EMR Systems Market by Applications
EMR Systems Market by Components
GEOGRAPHICAL SEGMENTATION
EMR Systems Market by Region
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