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Electronic Health Record (EHR) Market Size

Report ID: GMI3130
Published Date: Jul 2024
Report Format: PDF

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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.

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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 Market Report Attributes
Report Attribute	Details
Base Year:	2023
Electronic Health Record Market Size in 2023:	USD 34 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.4%
2032 Value Projection:	USD 64.5 Billion
Historical Data for:	2021 - 2023
No. of Pages:	120
Tables, Charts & Figures:	288
Segments covered:	Product Type, Application, End-user, and Region
Growth Drivers:	Increasing expenditure on healthcare Growing funding and initiatives for implementation of EHR Expanding adoption of EHR for delivering enhanced patient care Implementation of national strategies for adopting EHR
Pitfalls & Challenges:	High cost of EHR implementation and maintenance Lack of skilled professionals in developing countries Security and privacy concerns

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global electronic health records market was valued at USD 34 billion in 2023 and will grow at 7.4% CAGR during 2024-2032, driven by increasing demand for efficient and high-quality healthcare services.

The web/cloud based electronic health records segment held a revenue of USD 19.5 billion in 2023 and will expand rapidly through 2032, driven by lower installation costs, simplified maintenance, and enhanced accessibility.

U.S. electronic health records market size was USD 13.7 billion in 2023 and is expected to grow rapidly through 2032, due to widespread adoption driven by government initiatives including the HITECH Act, which incentivizes EHR implementation.

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, and Oracle Corporation (Cerner) Limited among others.