Detailed analysis of the Electronic Health Record (EHR) market, including size, share, and trends

Posted by Prabha Mahajan on October 3rd, 2022

Electronic Health Record (EHR) Market was valued at US$ 14,054.05 million in 2020 and it is projected to reach US$ 20,318.02 million by 2028; it is expected to grow at a CAGR of 4.9% during 2021–2028.

EHRs are patient-centered and real-time digital records that make patient data available instantly and securely to authorized healthcare professionals. The record comprises information regarding patient's medical history, medications, allergies, treatment plans, diagnoses, immunization dates, radiology images, and laboratory test results. The factors such as the increasing adoption of EHRs, rising incentives by federal government, and growing incidences of medication errors drive the growth of the electronic health record (EHR) market.

Market leaders operating in the market have undertaken various organic growth strategies in the Electronic Health Record (EHR) Market. The Electronic Health Record (EHR) market majorly consists of the players including. Cerner Corporation, Computer Programs and Systems, Inc., Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation, NextGen Healthcare, eClinicalWorks, Greenway Health, AdvancedMD, Inc., CureMD Healthcare. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.

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Below is the list of the growth strategies done by the players operating in the Electronic Health Record (EHR) Market:

In Apr-2021 NextGen Healthcare, Inc., announced the availability of its expanded platform for ambulatory providers, the spring ‘21 release of NextGen Enterprise. The platform also gives patients easier access to their medical records and to their care team, which strengthens the patient’s loyalty to the practice.

In Feb-2021 Pexip, a leading provider of enterprise video conferencing and collaboration solutions, announced a native integration with the electronic health record system, Epic. With a focus on providing an easy to use, secure system for patients and healthcare providers, the integration makes it simple to start a scheduled video meeting.

In Oct-2020 Epic to use InterSystems as data foundation for latest EHR release. Using the IRIS platform will allow Epic customers access to larger datasets and provide enhancements in asynchronous mirroring.

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Prabha Mahajan

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Prabha Mahajan
Joined: September 26th, 2022
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