Hospital EMR Systems Market Report by Manufacturers, Opportunities, Challenges, Drivers, Growth, Countries, Revenue, And Forecast To 2025
Hospital EMR Systems Market Overview:
The Hospital EMR Systems Market is projected to reach USD 20.7 billion by 2025 from USD 14.2 billion in 2020, at a CAGR of 7.8% during the forecast period. Market growth can be attributed to the growing number of hospitals adopting EMR solutions worldwide, the need to curtail escalating healthcare costs, government mandates and support to increase adoption of hospital EMR solutions, and growing patient volume due to the global COVID-19 pandemic. However, the high deployment cost of EMR solutions and data security concerns are major factors limiting market growth to a certain extent during the forecast period.
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Hospital EMR Systems Market by Component (Software, Services, Hardware), Delivery Mode (Cloud, On-premise), Type (Specialty EMR), Hospital Size (Small, Large Hospitals) and Region (North America, Europe, Asia Pacific) - Global Forecast to 2025, size is projected to reach USD 20.7 billion by 2025 from USD 14.2 billion in 2020, at a CAGR of 7.8% during the forecast period. A majority of this growth is attributed to the government mandates and support to increase adoption of hospital EMR solutions, the need to curtail escalating healthcare costs, a growing number of hospitals adopting EMR solutions worldwide, and growing patient volume due to the global COVID-19 pandemic.
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Market Segmentation:
By component, the services segment accounted for the largest share of the hospital EMR systems market in 2019.
Based on components, the market is segmented into services, software, and hardware. In 2019, the services segment accounted for the largest share of the hospital EMR systems market. Growth in this segment is mainly due to the recurring nature of services, such as training and education, installation, consulting, and maintenance services, as well as the increase in the number of patients being admitted to hospitals.
By delivery mode, the on-premise segment accounted for the largest share of the hospital EMR systems market in 2019.
Based on the delivery mode, the market is segmented into on-premise and cloud-based solutions. The cloud-based segment is expected to be the fastest-growing segment during the forecast period. An increasing number of hospitals have shifted their preference for EMR systems from on-premise models to cloud-based models, which has contributed towards its market growth.
By type, the general EMR solutions segment accounted for the largest share of the hospital EMR systems market in 2019.
Based on type, the market is segmented into general EMR and specialty EMR solutions. In 2019, the general EMR solutions segment accounted for the largest share of the hospital EMR systems market. The large share of this market segment can be attributed to the multifunction, multi-specialty capabilities of general EMRs, enabling their use in various specialties through flexible functioning and incorporated plugins.
By hospital size, the small and medium-sized hospitals segment accounted for the largest share of the market in 2019.
Based on hospital size, the hospital EMR systems market is segmented into small and medium-sized hospitals and large hospitals. In 2019, the small and medium-sized hospitals segment accounted for the largest share of the hospital EMR systems market. The large share of this segment can be attributed to the faster adoption of EMRs in small and medium-sized hospitals owing to factors such as ease of transfer of patient data among healthcare providers, lower upfront costs, and ease of deployment.
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Key Players:
Cerner Corporation (US), Epic Systems Corporation (US), Allscripts Healthcare Solutions, Inc. (US), MEDITECH (US), CPSI (US), GE Healthcare (US), athenahealth, Inc. (US), MEDHOST (US), eClinicalWorks (US), NextGen Healthcare (US), Intersystems Corporation (US), MTBC (US), Cantata Health (US), Advanced Data Systems Corporation (US), and CureMD (US) are the leading players in the global hospital EMR systems market.
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