Key players in hospital EMR market are Cerner Corporation (US), Epic SystemsCorporation (US), athenahealth, Inc. (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US),Medical Information Technology, Inc. (US), MEDHOST (US), CPSI (US), and Intersystems Corporation (US).
The hospital EMR market growing at 8.8% CAGR, valued at an estimated US$ 12 billion in 2018 and is projected to reach USD 18.3 billion by 2023, during the forecast period. The key factors driving the growth of this market include the government support for the adoption of EMRs and the rising need to curtail healthcare costs.
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Report analyzes hospital EMR market and aims at estimating market size and future growth potential of this market based on various segments such as component, mode of delivery, type, and region. Report also includes competitive analysis of key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
“The healthcare IT industry relies heavily on service providers for consulting, storage, implementation, training, maintenance, and regular technology upgrades.”
Hospital EMR systems market report will enrich established firms as well as new entrants/smaller firms to gauge pulse of market, which in turn would help them, garner a greater share. Firms purchasing report could use one or any combination of below-mentioned five strategies.
- In 2018, the Veterans Affairs Department in the US announced the implementation of the Cerner EHR system. The deal size was USD 10 billion.
- In 2018, Mayo Clinic Rochester (US) went live with the Epic EHR system and completed a massive overhaul of nearly all of Mayo’s computerized systems. The deal size was USD 1.5 billion.
- In 2018, Epic launched Sonnet, an EHR solution designed for the smaller hospital with fewer modules and a reduced feature scope.
- In 2018, MEDITECH established MEDITECH UK with the aim of delivering Expanse to customers in the UK and Ireland. This expansion was aimed at increasing the company’s global presence and customer base.
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Study involved four major activities to estimate hospital EMR systems market size for global products. Introduction of complex software & integration & interoperability of software, which requires extensive training and upgrades is expected to boost demand for services in coming years. It enriches with multiple component like hardware, software, & services, mode of delivery like cloud based and on premise), with type called general EMR & specialty EMR.
Hospital EMR systems market further segmented into services, software, and hardware. The services segment is expected to grow at highest CAGR during the forecast period. This can be attributed to the recurring nature of services such as training and education, installation, consulting, and maintenance services.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–39%, Tier 2–45% and Tier 3–16%
- By Designation– C-level–24%, Director Level–18%, Others–58%
- By Region – North America–42%, Europe–21%, Asia Pacific–26%, RoW–11%
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Healthcare EMR type, the general EMRs segment is expected to register highest CAGR during the forecast period. General EMRs are designed for use by universal practices. They have all the functions of EMR, such as CPOE, clinical decision support, controlled medical vocabulary, clinical data repository, ordering, and billing. Due to their multi-function, multi-specialty capabilities, these EMRs can be used in various specialties through flexible functioning and incorporated plugins.
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