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The Global Market For Electronic Health Records To Witness Huge Growth Through 2025

Healthcare News

The_Global-Market-For-Electronic-Health-Records-To-Witness-Huge-Growth-Through-2025 The Global Market For Electronic Health Records To Witness Huge Growth Through 2025Information Technology has transformed every aspect of the healthcare industry worldwide over the past two decades. The cosmic adoption of IT and digital infrastructure in this space has made information a benefit as well as a challenge for each care provider. However, several pilot and cohort studies are being underway by government organizations and institutes concerning the effectiveness of computerized patient healthcare information systems or EHRs are progressively replacing manually filled paper sheets, medical images, and other documents concerned with a patient’s healthcare history.

According to the market insights, the global market for Electronic Health Records is predicted to garner USD 38.29 billion by 2025. The market was valued at USD 23.22 billion in the year 2016 and is anticipated to grow at a promising CAGR of 5.7 percent during the forecast period. EHRs are the digital module of a patient’s medical history that is maintained by the care provider over time and may include all of the key executives’ clinical data pertinent to that individual care under a particular provider. It includes a range of data from demographics, progress notes, vital signs, past medical history, medications, immunizations, radiology reports, laboratory data, and others. Meanwhile, the healthcare cost has seen a steep increase over the last few decades, as the geriatric populations and subsequent rise in prevalence of chronic diseases increased.

However, the trend is expected to continue to increase in the following years that will have a massive overload over healthcare systems of various locations worldwide. Though, these insights illustrate that there is a need for efficient, result-oriented based healthcare system which prioritizes the prevention of diseases, early diagnosis, and detection of disorders and constant monitoring in addition to providing superior value-based healthcare.