Global Electronic Health Records Market Set to Reach USD 54.7 Bn by 2031, With a Sustainable CAGR Of 7.8%| Growth Market Reports
PUNE, India, Jan. 18, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Electronic Health Records Market by Products (On-premise Software and Cloud-based Software), Types (Ambulatory EHR and Inpatient EHR), Applications (Healthcare Financing, Clinical, Reporting in Healthcare System, Administrative, and Clinical Research), End-users (Hospitals, Specialty Centers, Clinics, and Others), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market size was USD 29.8 Bn in 2022 and is expected to reach USD 54.7 Bn expanding at a CAGR of 7.8% by the end of 2031. The market growth is attributed to the rapid growth in the digitalization of patients' health records as these are easily accessible and aid to enhance workflow efficiency.
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Highlights on the Segments of the Electronic Health Records Market
In terms of product, the global electronic health records market is divided into on-premise software and cloud-based software. The on-premise software segment is expected to hold a large share of the global market due to the increasing use of on-premise software to store medical and health records.
Based on type, the global market is bifurcated into ambulatory EHR and inpatient EHR. The ambulatory EHR segment is expected to grow at a significant pace during the forecast period as it enables healthcare professionals to analyze and diagnose medical conditions based on the medical history and symptoms of the patient.
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On the basis of application, the market is segregated into healthcare financing, clinical, reporting in healthcare system, administrative, and clinical research. The clinical segment is expected to expand at a significant rate owing to the increasing demand for electronic health records for diagnosis and decision-making for the treatment of the patient.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period owing to the increasing number of patients sufering from chronic diseases such as tuberculosis, diabetes, and others.
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Key Takeaways from the Study:
Read 185 Pages Research Report with Detailed ToC on "Electronic Health Records Market by Products (Server-based/On-premise Software and Cloud-based Software), Types (Ambulatory EHR and Inpatient EHR), Applications (Healthcare Financing, Clinical, Reporting in Healthcare System, Administrative, and Clinical Research), End-users (Hospitals, Specialty Centers, Clinics, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"
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