(PharmaNewsWire.Com, November 23, 2021 ) According to the new market research report Ambulatory EHR Market is expected to reach USD 6.8 billion by 2025 from USD 5.2 billion in 2020, at a CAGR of 5.7% during the forecast period of 2020 to 2025.
Growth in the global ambulatory EHR market can primarily be attributed to various factors such as government support for the adoption of EHR solutions, increasing number of outpatient care centers, growing patient volume due to the global outbreak of COVID-19, and the need to curtail healthcare costs. On the other hand, market growth is limited to a certain extent due to factors such as reluctance to adopt EHR solutions in developing countries, heavy infrastructure investments, and the high cost of deployment.
On the basis of application, the global market has been segmented into practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. The practice management segment commanded the largest share of the global ambulatory EHR market in 2019. The significant share of this application segment can primarily be attributed to the wide range of advantages associated with practice management solutions, including increased efficiency of day-to-day operations, enhanced value of services provided to patients, and improved adherence to compliance requirements.
Based on delivery mode, the hospital EHR market is segmented into on-premise and cloud-based solutions. In 2019, the cloud-based solutions segment accounted for the largest share of the market. The market is mainly driven by the advantages associated with cloud-based solutions, which include flexibility and cost reductions in healthcare delivery.
Opportunities: Increasing demand for cloud-based ambulatory EHR solutions
The innovation of the cloud platform has offered new business capabilities and opportunities to healthcare enterprises across the globe. Cloud-based alternatives are widely preferred by providers as well as payers over on-premise solutions. The advantages of cloud-based platforms for healthcare enterprises include the better exchange of patient data, lower upfront costs, access on-demand capacity, simple implementation & scalability, and quick deployment.
Challenges: Interoperability issues
Heterogeneity in health information systems is one of the key challenges for the successful implementation and utilization of healthcare IT solutions. Many countries lack specific IT standards for data storage and exchange, which leads to interoperability issues. In this diverse environment, the need for interoperability and interoperability standards becomes critical. Due to the lack of defined standards, vendors also follow different data formats and standards that make it difficult to share real-time data with partner systems, thereby increasing the challenge for successful health information exchange.
The ambulatory EHR market is predominantly divided into five major geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of this market, followed by North America. Growth in the North American market can be attributed to factors such as federal mandates, the increasing geriatric population, collaboration between stakeholders, the need to curtail healthcare costs, payment deductions driving the adoption of EHR, conferences and workshops to raise awareness in the US, growing efforts to enhance healthcare delivery, and the adoption of digital recordkeeping in Canada.
The prominent players operating in the Ambulatory Electronic Health Records Market are Epic Systems Corporation (US), Cerner Corporation (US), Allscripts Healthcare Solutions (US), Medical Information Technology, Inc. (MEDITECH, US), CPSI (US), NextGen Healthcare Information Systems, LLC (US), eClinicalWorks (US), athenahealth, Inc. (US), Modernizing Medicine, Inc. (US), Medical Transcription Billing Corporation (MTBC, US), Amazing Charts, LLC (US), Greenway Health (US), eMDs, Inc. (US), NetSmart Technologies (US), and CureMD (US).
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