Ambulatory Electronic Health Record Market is projected to Surpass USD 7.74 Billion by 2028, at a CAGR of 5.60% from 2022-2028, owing to Rising Emphasis on the Effective Regulation of Medical Information Exchange
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Westford USA, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The global ambulatory electronic health record market is projected to see substantial growth in the coming years, with North America being a key contributor to this growth. The rising incidence of chronic diseases worldwide and a growing patient population have led to an increased demand for ambulatory care. In turn, this has fueled the demand for advanced EHR systems that can effectively manage the needs of patients in an outpatient setting. Additionally, the need for advanced analytics, e-prescribing, population health management, and decision support has intensified the demand for ambulatory EHR systems.
According to SkyQuest's global research, as of 2022, over 85% of North America and Europe, hospitals have adopted some form of EHR system, and over 78% of eligible providers have adopted EHR systems.
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Ambulatory electronic health records are revolutionizing the healthcare industry by streamlining the process of managing and organizing patient information. These software programs allow healthcare providers to access crucial patient data in real-time, from anywhere, at any time, providing them with essential insights and information to make informed decisions about patient care. With the help of ambulatory EHRs, healthcare professionals can manage and update patient information, reduce the risk of errors, improve the quality of care, and enhance patient satisfaction.
Prominent Players in Ambulatory Electronic Health Record Market
Epic Systems Corporation
Medical Information Technology, Inc.
Allscripts Healthcare Solutions, Inc.
Computer Programs and Systems, Inc.
NextGen Healthcare, Inc.
Atec Pharmatechnik GmbH
Greenway Health, LLC
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Cloud Segment Set to Drive Significant Growth due Increasing Preference among Healthcare Service Providers
The ambulatory electronic health record market is shifting towards cloud-based solutions as more healthcare providers look to improve their data management capabilities. The growing need to manage large amounts of patient data and the preference for cloud-based platforms has fueled the growth of the cloud segment, making it one of the lucrative segments in the EHR market. With cloud-based EHRs, healthcare professionals can ensure the secure storage and management of patient information and control access to sensitive data.
North America continues to lead the global ambulatory electronic health record market and is expected to maintain its dominance in the future. This is due to numerous key factors, including the widespread adoption of healthcare IT services in the United States, which is supported by the presence of key players in the market. Additionally, the growing number of surgical procedures performed in outpatient settings and the need to control rising healthcare costs are driving growth in this region. With these favorable conditions, North America is poised to remain a dominant player in the market in the coming years.
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Practice Management Segment Emerges as the Major Revenue Contributor Thanks to Increasing Demand for Advanced HER Solutions
The practice management segment is projected to generate the highest revenue share between 2022 and 2028. Such growth prospects can be attributed to several factors, including the increasing demand for advanced electronic health record solutions for managing appointments, patient data, and billing tasks. In addition, this demand is driven by a growing patient population, the rapid implementation of EHR systems in ambulatory care, which improves clinical practice management, and the reduction in transcription costs. With these favorable conditions, the practice management segment is predicted to play a dominant role in the global market during the forecast period.
The global ambulatory electronic health record market holds significant potential, especially in the Asia Pacific and the Middle East & Africa regions. This is due to the growing demand for advanced technology systems, the limitations of conventional clinical processes, and substantial investments from government and non-profit organizations. During the forecast period, it is expected that the Asia Pacific market will experience significant growth. Increasing awareness and acceptance of healthcare solutions, increasing healthcare knowledge, and the widespread use of digital solutions help the growth. With these favorable conditions, the Asia Pacific market is poised to become a leading region in the global ambulatory electronic health record market.
The global ambulatory electronic health record market is the subject of an in-depth report that comprehensively analyzes the leading players in the industry. The research report offers a broad overview of the competitive landscape, production capacity, and recent developments such as mergers, acquisitions, investments, and capacity expansions. In addition, it provides a comprehensive evaluation of the market using Porter's five forces model, which offers valuable insights into market dynamics and competition. This report is essential for anyone seeking a deeper understanding of the global market and the key players shaping its future.
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Key Developments in Ambulatory Electronic Health Record Market
CareCloud, a prominent provider of healthcare technology solutions for medical practices and health systems, has announced the integration of Medicomp Systems' Quippe Clinical Data Engine into its EHR platforms. This integration will ensure that physicians can access patient-specific and problem-specific clinical data during treatment. In addition, it will benefit physicians of all specialties and ensure they have the necessary information to provide the best possible healthcare solutions to their patients.
Methodist Le Bonheur Healthcare (MLH) is embarking on a new digital transformation journey in patient care with the help of the electronic health record company, Epic. MLH is now part of a network of nearly 2,400 hospitals across the country that have transitioned to the Epic platform. This move will bring MLH's patient care to a new level by aligning its electronic health records into one cutting-edge digital platform. The integration of Epic's platform will also improve communication between physicians, clinical staff, and patients, providing a seamless and efficient care experience.
Wellsheet, a provider of Electronic Health Records (EHRs), has partnered with athenahealth to bring its cutting-edge solution to a wider audience. The company's EHRs have a predictive and user-friendly interface, making them a valuable tool for healthcare providers. This partnership allows Wellsheet's EHRs to be part of the athenahealth Marketplace program, giving healthcare providers access to this innovative solution. The integration of Wellsheet's EHRs into the athenahealth Marketplace is now available for large healthcare systems and community health centers.
The MEDITECH as a Service (MaaS) solution, which operates on a subscription-based model, provides cost-effective and efficient solutions to organizations switching to the Expanse EHR. The solution had a successful fourth quarter, with nine organizations signing on, following its third-quarter success. Additionally, the popularity of the MaaS platform grew significantly in 2022, with a 45% increase in the number of organizations licensing the solution. This growth showcases the continued value and efficiency of the MEDITECH MaaS solution for organizations transitioning to the Expanse EHR.
Key Questions Answered in Ambulatory Electronic Health Record Market Report
What is the worldwide market's estimated size and growth rate over the forecast period?
Which electronic health record solutions generated the most revenue in the target market?
What category of ambulatory electronic health records holds the largest market share?
Which geographical region is expected to dominate the global market in the forecast period?
Which region presents the highest growth potential and business opportunities in the global market?
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