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Growing Factors Of Global Electronic Health Records Market

Healthcare News

The_Factors-Of-Global-Electronic-Health-Records-Market-Growth Growing Factors Of Global Electronic Health Records MarketMany emerging countries understand the significance and advantages of EHR system (Electronic Health Record) and heavily investing capital in such technology. As EHR provides advanced patient care and management along with significant cost savings, it helps the practitioner in the management of patient data and streamlines workflow that should positively impact EHR market size. According to the market insights, Global Electronic Health Records market is predicted to exceed USD 38 billion by 2025, as the adoption of this kind of system continuously increasing.

An EHR is a digital version of a patient’s paper chart and real-time, patient-centered records that make information available instantaneously and securely to authorized users. It is an individual’s official health document which is shared among multiple facilities and agencies. Rising incentives and approvals for deployment of healthcare IT solutions across healthcare facilities will offer attractive segmental growth potential. Enactment of Meaningful Use (MU) incentives to achieve better adult and pediatric care is forecasted to expand adoption of EHR. Owing to massive investment in Electronic Health Record system, availability of funding and grants will have a high impact on global EHR market growth. However, the lack of skilled professionals to leverage sophisticated technology in some emerging and underdeveloped countries can hamper EHR market growth over the coming years. In 2018, the Web and Cloud-based EHR software product market was valued at USD 12.5 billion. Web-based EHR offers improved speed and flexibility to the end-users in terms of its operability. Web and Cloud-based EHR software also significantly saves cost that should spur its adoption in the near future.

Though, the market insights indicated that the U.S. EHR market will register robust growth at a CAGR of more than 5 percent in the coming years. Due to the growing adoption of EHR in the region across all physicians and healthcare providers will pose to be high U.S. EHR market growth rendering factor. Additionally, high internet penetration and availability of investment will stimulate EHR adoption rate, in addition to huge investment in healthcare IT will boost the U.S. EHR market in the near future.