The USA electronic health records market is expected to enjoy a valuation of USD 9.1 Billion in the year 2023, and further expand at a CAGR of 5.3% to reach a valuation of ~USD 15.3 Billion by the year 2033. According to a recent study by Future Market Insights, EHR Software in the solution segment is leading the market with a share of about 63.3% in the year 2022, within the USA market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2023 | USD 9.1 Billion |
| Market Value 2033 | USD 15.3 Billion |
| CAGR 2023 to 2033 | 5.3% |
| Key Market Players | Epic Systems Corporation, Cerner Corporation, Medhost Inc., Computer Programs and Systems, Inc., Allscripts, Medhost, Netsmart Technologies Inc., Athena health, Harris Healthcare, eClinicalWorks |
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The market value for USA electronic health records market was around 6.7% of the overall ~USD 129.0 Billion USA digital health market in 2022.
Many national cohort study projects mainly depend upon the utilization of the Internet and mobile phone networks and also involve the transfer, storage, and analysis of sensitive personal data, some of which were initially created as Protected Health Information (PHI) within HIPAA-covered companies. It will aim at the security bugs of many computer devices, such as desktops, cellphones, and data servers.
However, the EHR workgroup believes that it doesn’t require additional or specific cybersecurity measures for the project.
The effectiveness of hospital EMR software as a tool for improved productivity and patient engagement is growing. The use of EMR in hospitals allows for the creation of insights into better care management and the improvement of patient experiences. Through the use of population health management and healthcare analytics, EMR systems for hospitals can further improve the patient experience.
Hospital management can be elevated through the use of EMR by establishing long-lasting customer relationships and offering a variety of solutions to satisfy client demands. EMR systems for hospitals are used by patient management solutions and patient engagement systems to conduct data storage and analysis for improved patient satisfaction. A deeper relationship between patients and providers results naturally from higher customer satisfaction.
Strong hospital EMR platforms raise user satisfaction, boost physician effectiveness, and provide all-encompassing hospital management system solutions.
Hospitals must consider how to provide their patients with the best medical technological breakthroughs and internal operative efficiency if they want to remain at the forefront of business. Using hospital EMR systems, this strategy of prioritizing the patient leads to patient-enabled profitability.
Thus, owing to the forenamed factors, the USA electronic health records market is expected to grow at a CAGR of 5.3% during the forecast period from 2023 to 2033.
Blockchain technology has enormous potential for enhancing the effectiveness, security, and privacy of systems used to share Electronic Health Records (EHRs). Existing solutions, however, rely on a central database that is vulnerable to conventional security issues including DoS attacks and a single point of failure identical to conventional database systems.
A blockchain-based healthcare data-sharing system that integrates threshold signatures, distributed file systems and blockchain technology has been created to address the aforementioned problems. Blockchain technology enables new methods of sharing and storing patient electronic health records.
To create and expand their products to have a significant impact, digital health innovators can benefit from understanding different areas of potential such as
Treatment options may be constrained even when patients overcome financial and geographical obstacles to care because of variations in physician knowledge and patients' reactions to therapies. For instance, inaccurate data and a discrepancy between provider knowledge and the clinical presentation of the disease might make it difficult to diagnose and treat rare diseases.
Start-ups and established leaders in the field of digital health innovation can begin to envision how their products will address health inequity and this can create lucrative opportunities for the market to grow in the next decade.
Electronic health records are one of the essential elements of the Health Information System (HIS) in the United States (EHR).
Building a secure electronic health record (EHR) in a cloud computing environment has received a lot of interest from the academic community as well as the healthcare sector due to the emergence of cloud computing and its accompanying problems. an electronic health records system that is cloud-based and can store, retrieve, and update patient medical records.
The adoption of cloud in the healthcare leads to great changes that impact highly the way healthcare professionals work, making their job easier, faster, and more efficient.
Principal Consultant
Confidentiality and data security will be among the main topics of discussion around the development of digital health on a worldwide scale. Not just in terms of the data owner, but also about the abundance of information that patients have access to as well as the fragmentation of the many healthcare systems as a result of data interoperability.
The digital change affects both culture and technology. It will therefore be crucial to address the concerns that the impending changes may cause. As the healthcare industry changes, it will also be crucial to increase professional and decision-maker awareness of new competencies and skills.
It will be critical to keep an eye on how issues like data ownership and the purchasing of digital services are controlled.
The mismatch in digital capabilities among stakeholders may hinder collaborations in the future by impeding communication. Additionally, it will be necessary to establish an interdisciplinary consortium with participation from all relevant parties to facilitate the creation of political policies and legal frameworks that advance the digital economy at the local, national, and regional levels, the change of the health sector. Therefore, the above-mentioned factors can hinder the growth of the EHR market in the approaching years.
EHRs are seriously endangered by malware, notably ransomware. EHR data can be encrypted by ransomware to limit access, which disrupts medical services and jeopardizes patient safety, increasing the likelihood that the ransom will be paid. Phishing attempts to obtain the login information needed to access EHRs are also frequent. Therefore, the above-mentioned factors can hinder the growth of the EHR market in the approaching years.
As telemedicine has grown in popularity, doctor visits increasingly occur via a variety of channels, making it more difficult for medical staff to update patients' medical information. It will therefore be crucial for the healthcare sector to develop a method for documenting and updating health information for both in-person and virtual consultations.
To create a product or service that is simple to use, the end user must be taken into consideration when it comes to any form of technology. Since many solutions will be utilized by both patients and medical personnel, this is essential for the healthcare sector.
The Midwest USA accounted for around 24.2% market share in the USA electronic health records market in 2022, and a similar trend is expected over the forecast period. When it comes to employment and money, the healthcare industry ranks among the largest in the nation. The government has taken primary measures in this area, and its plan to release further funds to promote healthcare IT usage in the future is positively affecting the Midwest USA EHR industry.
In 2022, Southeast USA held a market share of about 24.0% 2022 in the USA electronic health records market.
The southwest USA market benefits from mergers and acquisitions by market players that are intended to bring to market effective infrastructure designed to improve the implementation timelines for electronic health records, and create community-wide connectivity with value-based care analytics. These actions will aid in the market's growth in the years to come.
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The EMR software segment in the solution category of the USA electronic health records market accounts for a revenue share of about 63.3% in the USA market in 2022.
Sales of the EHR software are driven by its simple installation and worldwide accessibility to medical data. The sizeable market share is due to their acceptance among physicians and other healthcare professionals who perform work on a smaller scale.
Hospitals in the end-user segment have become more and more popular, accounting for a signification share of 32.8% in 2022 due to increasing incidences of pandemic and epidemic illnesses. The business is further aided by the fact that establishing electronic health records in hospitals is less expensive than deploying them in ambulatory care facilities. They also help big hospitals save time, which fuels the sector even more. Also, due to factors including ease of deployment, the sector is predicted to be driven by the growing adoption of electronic health records in small and midsized institutions.
To raise their market share internationally and improve their business strategy, the top players make significant investments in numerous product launches, product expansions, collaborations, mergers, and acquisitions. These have been adopted as their top-tier principal promotional strategies by the leading players in the USA market for electronic health records.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the USA electronic health records market space, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Region Covered | United States |
| Key Zones Covered | Northeast USA, Midwest USA, Southeast USA, Southwest USA, and West USA |
| Key Market Segments Covered | The solution, End User, and Country |
| Key Companies Profiled | Epic Systems Corporation; Cerner Corporation; Medhost Inc.; Computer Programs and Systems, Inc.; Allscripts; Medhost; Netsmart Technologies Inc.; Athena health; Harris Healthcare; eClinicalWorks |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The global market is expected to be estimated USD 15.3 billion by 2033.
The market is expected to continue to evolve at a 5.3% CAGR through 2033.
From 2018 to 2022, the global market expanded at a 6.7% HCAGR.
Southeast USA had a 24.0% market share in the USA electronic health records industry in 2023.
1. Market - Executive Summary | Electronic Health Records (EHR) Market 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Market Demand (in Value USD Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033 7. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, by Solution 7.1. EHR Software 7.2.1. Cloud-based EHR 7.3.2. On-premise EHR 7.4. Services 7.5.1. Consulting 7.6.2. Implementation & Integration 7.7.3. Support & Maintenance 8. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, by End User 8.1. Hospitals 8.2. Specialty Clinics 8.3. Ambulatory Surgical Centers 8.4. Diagnostic Labs 8.5. Diagnostic Imaging Centers 8.6. Payers 8.7. Others 9. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, by Zone 9.1. Northeast 9.2. Midwest 9.3. Southeast 9.4. Southwest 9.5. West 10. Northeast Market Analysis 2017 to 2022 and Forecast 2023 to 2033 11. Midwest Market Analysis 2017 to 2022 and Forecast 2023 to 2033 12. Southeast Market Analysis 2017 to 2022 and Forecast 2023 to 2033 13. Southwest Market Analysis 2017 to 2022 and Forecast 2023 to 2033 14. West Market Analysis 2017 to 2022 and Forecast 2023 to 2033 15. Market Structure Analysis 16. Competition Analysis 16.1. Epic Systems Corporation 16.2. Cerner Corporation 16.3. Medhost Inc. 16.4. Computer Programs and Systems, Inc. 16.5. Allscripts 16.6. Medhost 16.7. Netsmart Technologies Inc. 16.8. Athena health 16.9. Harris Healthcare 16.10. EClinicalWorks 17. Assumptions and Acronyms Used 18. Research Methodology
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USA Electronic Health Records (EHR) Market
