Electronic Health Record (EHR) Market – By Product Type (Web/ Cloud-based, On-premises), Application (E-prescription, Practice Management, Referral Management, Patient Management, Population Health Management), End-user, Global Forecast 2024 – 2032

Electronic Health Record Market Size

Electronic Health Records Market size was valued at USD 34 billion in 2023 growing at a CAGR of 7.4% between 2024 and 2032. The market is experiencing dynamic growth driven by increasing demand for efficient, high-quality healthcare services. EHR enhances care coordination, minimizing medical errors, and streamlining clinical workflows, resulting in improved patient outcomes and greater physician adoption.
 

For instance, a study of 141 primary care physicians at UW Health revealed that from April 2022 to March 2023, doctors spent 30 minutes (7.8%) more on EHRs per eight hours of clinical appointments compared to 2019-2020. Time in orders increased by 231 minutes (60%), inbox time by 14 minutes (24%), clinical review by 7.2 minutes (13%), and notes by 2.9 minutes (2.3%). This growing EHR adoption among physician’s fuels market demand. Additionally, government initiatives and regulations promoting the use of EHR systems, coupled with financial incentives for healthcare providers to adopt digital health technologies, further drive market growth.
 

Electronic health record (EHR) is a digital version of a patient's comprehensive medical history, maintained by healthcare providers over time. It includes detailed information such as demographics, medical history, diagnoses, medications, treatment plans, immunization records, allergies, radiology images, and laboratory results. EHRs are designed to enhance patient care by enabling quick access to patient data, facilitating coordination among healthcare providers, reducing medical errors, and improving clinical workflows.
 

Electronic Health Record Market Trends

Technological advancements in EHR systems have significantly fuelled the market growth by enhancing data accessibility, interoperability, and user-friendliness. Innovations such as AI-driven analytics, cloud-based solutions, and mobile accessibility streamlined workflows, improved patient care, and facilitated better clinical decision-making. These technologies enable seamless integration with other healthcare systems, ensuring comprehensive and real-time access to patient data thereby bolstering the market growth.
 

• For instance, in March 2024, Health Information Management Systems (HiMS) launched AxiomEHR, a groundbreaking AI-powered EHR solution. This innovative system boasts a unique architecture designed to support data-driven decision-making, flexible care coordination, and enhanced resilience for quality-based care. Specifically tailored for behavioral and integrated healthcare providers, AxiomEHR features AI-driven automation to streamline workflows and significantly reduce the screen time required by traditional systems. Thus, the introduction of AxiomEHR represented a significant advancement in EHR technology, promising to improve efficiency and the quality of care in the healthcare sector.
   

Electronic Health Record Market Analysis

Based on the product type, the global market is classified into web/ cloud based EHR and on-premise EHR. The web/ cloud-based EHR segment dominated the market with a revenue of USD 19.5 billion in 2023.
 

• The substantial segment revenue is driven by factors such as lower installation costs, simplified maintenance, and enhanced accessibility. Increasing adoption across pharmacies, hospitals, and healthcare facilities further fuels this trend. Also, web/cloud-based software allows for seamless remote data access, real-time tracking for rapid recovery, and business continuity solutions, all of which are essential for maintaining quality patient care.
   
• Further, its scalability model supports cost-effective storage usage and streamlines workflow by integrating clinical information. Thus, such aforementioned factor accelerated the adoption of cloud-based medical records will spur the market growth.
   

Based on the application, the electronic health record market is classified into e-prescription, practice management, referral management, patient management, population health management, and other applications. The practice management systems segment dominated the market with market share of 27.2% in 2023.
 

• Practice management systems asserted dominance by consolidating and improving administrative and operational functions within healthcare practices. These systems optimize scheduling, billing, and patient management, enhancing practice efficiency and financial performance. Therefore, automating tasks such as scheduling appointments, registering patients, and processing insurance claims minimizes administrative burdens and errors, thereby gaining traction in the market.
   
• Further, these systems enhance communication between healthcare providers and patients, enhancing overall patient satisfaction. Integrating with EHRs further enhances clinical workflows and data accessibility, facilitating improved care coordination and decision-making. These capabilities strengthen their role in optimizing practice management and solidifying their prominence in the market.
   

Based on the end-users, the global electronic health records market is classified into hospitals, clinics, ambulatory surgical centers, and other end-users. The hospitals segment dominated the market with highest market share in 2023 with a CAGR of 7.2%.
 

• The dominance of the hospitals segment in the EHR market is driven by its critical role in comprehensive healthcare delivery. Hospitals require robust EHR systems to manage large volumes of patient data efficiently, ensuring seamless coordination across departments and enhancing clinical decision-making.
   
• Also, these systems streamline workflows from patient admission to discharge, by integrating medical records, lab results, medication histories, and treatment plans. Thus, EHRs in hospitals improve patient safety by reducing medication errors and supporting timely access to critical information during emergencies.
   
• Moreover, regulatory incentives and mandates encouraging hospital adoption of EHRs to improve healthcare quality, operational efficiency, and compliance with healthcare standards, solidifying their prominence in the market.
   

In 2023, the U.S. held the highest market revenue of USD 13.7 billion in the North American electronic health records market and is expected to dominate throughout the forecast period.
 

• The U.S. holds a prominent position in the EHR market due to widespread adoption driven by government initiatives including the HITECH Act, which incentivizes EHR implementation. Also, the presence of leading EHR vendors such as Epic Systems and Cerner, further strengthens the market.
   
• Further, high healthcare expenditure, advanced healthcare infrastructure, and a strong focus on patient-centric care contribute to this prominence. Thus, ongoing technological advancements and regulatory support for interoperability and data security bolster the U.S. EHR market's growth and leadership.
   

Germany is expected to hold a prominent position in the European electronic health records market holding a substantial share in 2023.
 

• Germany's prominence was driven by significant government initiatives and strong emphasis on digital health innovation. For instance, The "Digital Healthcare Act," promotes widespread EHR adoption and interoperability, enhancing healthcare efficiency and patient care. Therefore, Germany's robust IT sector and the presence of leading healthcare technology companies facilitate the development and implementation of cutting-edge EHR solutions.
   
• Further, Germany's focus on data privacy and security ensures compliance with stringent regulations, building trust among healthcare providers and patients. These factors collectively position Germany as a leader in the European electronic health records (EHR) market.
   

The Asia Pacific electronic health records market is expected to grow with a significant CAGR of 8% during the forecast period.
 

• The rapid technological advancements and increasing adoption of digital health solutions in the region is posing significant growth in the global market. Countries such as China, India, Japan, and Australia are witnessing significant growth in EHR implementation across healthcare facilities. This trend is driven by robust healthcare infrastructure development, expanding internet penetration, and supportive government initiatives promoting digital healthcare.
   
• Further, EHR systems in the Asia-Pacific region are enhancing clinical workflows, improving patient care coordination, and facilitating data-driven decision-making. Therefore, as healthcare providers prioritize efficiency and patient outcomes, the Asia-Pacific EHR market continues to grow, fueled by innovation and strategic investments in healthcare IT infrastructure.
   

Electronic Health Record Market Share

The electronic health records industry is characterized by the presence of several key players focusing on continuous innovation, extensive product portfolios, and strategic partnerships. The major key players dominate the market due to their comprehensive EHR solutions and large customer bases. Additionally, the competitive strategies include mergers and acquisitions, collaborations, and product enhancements to meet evolving healthcare needs and regulatory requirements, driving growth and technological advancements in the market.
 

Electronic Health Record Market Companies

Prominent players operating in the electronic health records industry are as mentioned below:

• AdvancedMD, Inc.
• Athenahealth, Inc.
• CareCloud, Inc.
• CureMD Healthcare
• eClinicalWorks
• Epic Systems Corporation
• Greenway Health, LLC
• McKesson Medical-Surgical Inc.
• Medical Information Technology, Inc.
• Modernizing Medicine
• NextGen Healthcare, Inc.
• Oracle Corporation (Cerner)
• Teladoc Health, Inc.
• Valant
• Veradigm LLC (Allscripts Healthcare Solutions Inc.)
   

Electronic Health Record Industry News:

• In June 2024, Munich Re Life US and Clareto introduced the Automated EHR Summarizer, a cutting-edge digital solution that delivers a smart and intuitive summary of EHR data. This solution provides the data in two formats that include user-friendly human-readable HTML report and structured digital data for integration into rules, models, and analytics. This innovation aimed to enhance the usability and application of EHR data, significantly improving data interpretation and analysis.
   
• In September 2023, the Georgian Bay Information Network (GBIN), a collaboration of six Ontario healthcare organizations, is expanding its use of Oracle Health's EHR through the eNautilus project. This initiative aimed to enhance clinical services, medication administration, and oncology support, benefiting patient safety, fostering collaboration among caregivers across 15 hospitals, and easing clinician administrative tasks.
   

The electronic health records market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:

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Market, By Product Type

• Web/ cloud-based EHR
• On-premise EHR

Market, By Application

• E-prescription
• Practice management
• Referral management
• Patient management
• Population health management
• Other applications

Market, By End-user

• Hospitals
• Clinics
• Ambulatory surgical centers
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
  • Poland
  • Switzerland
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Peru
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Iraq
  • Israel
  • Rest of Middle East and Africa