According to the research report titled ‘Global Electronic Health Record Market Size study, by Product (Cloud-Based Software, Server-Based/On-Premises Software), by Type (Inpatient Electronic Health Record, Ambulatory Electronic Health Record), by Application (Clinical Application, Administrative Application, Reporting in Healthcare System, Healthcare Financing, Clinical Research Application), by End-User (Hospitals, Clinics & Specialty Centers, Other) and Regional Forecasts 2020-2027’ available with Market Study Report, global electronic health record market was worth USD 27.2 billion in the year 2019 and is projected to grow at a CAGR of 5% during the duration of 2020-2027.
 

As per the report, increasing utilization of EHR (electronic health record) across various healthcare verticals including physicians, ambulatory care centers, and hospitals is major factor augmenting the market growth. Growing demand for electronic health record systems due to favorable government initiatives and gradual digitization of the healthcare industry are boosting the market expansion.
 

For the record, EHR (electronic health record) is a database that digitally records and stores a patient’s clinical data pertaining to medical history such as laboratory test results, treatment plans, allergies, radiology images, immunization dates, medication, and diagnosis. This electronic database is gaining significant recognition in the healthcare industry owing to its benefits such as evidence-based tools that automate the workflow of the industry. EHR also helps healthcare professionals in quick and effective decision making.
 

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In fact, HITECH (Health Information Technology for Economic and Clinical Health) Act, which was established in the year 2009, was intended towards promoting the use of EHR by providing government support to connect the end-user with this innovative technology. Subsequently, the act endorsed around USD 27 billion in order to increase the adoption of the electronic database in healthcare settings, thereby augmenting the growth of global electronic health record market.

 

The sudden outbreak of the COVID-19 pandemic has caused an upsurge in the demand for electronic health record systems in order to monitor and identify medical records of patients, thereby stimulating the industry outlook. However, high maintenance cost and tedious implementation are hampering the growth of global HER market.
 

Speaking of the product landscape, global electronic health record market comprises of on-premises/server-based software and cloud-based software. Based on the type of EHR the market is segmented into ambulatory HER and inpatient HER.
 

In terms of application, the industry includes clinical research, healthcare financing, reporting in healthcare system, administrative application, and clinical application. The end-user landscape of the overall market comprises of clinics & specialty centers, hospitals, and other.
 

As per the regional analysis, Asia-Pacific electronic health record market accounts for a significant market share. Rapidly developing healthcare IT infrastructure, increasing occurrence of chronic ailments like diabetes and heart diseases, and favorable government initiatives aiding the adoption of EHR are favoring the market outlook in Asia-Pacific.
 

The major organizations that define the competitive landscape of worldwide electronic health record market are GE Healthcare, Quality Systems Inc., Epic Systems Corporation, Greenway Health, eClinicalWorks, CureMD Corporation, Cerner Corporation, Computer Programs and Systems Inc., Allscripts Healthcare Solutions Inc., and AdvancedMD Inc. among others.