Hospital EMR Systems Market is projected to reach USD 20.7 Billion by 2025, at a CAGR of 7.8%. 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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Browse in-depth TOC on “Hospital EMR Systems Market”
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Key Player
The prominent players in this market are 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).
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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 market in 2019.
Based on the delivery mode, the hospital EMR systems market is segmented into on-premise and cloud-based solutions. In 2019, the on-premise segment accounted for the largest share of the market. On-premise solutions offer enhanced control, safety of inventory data, and cost benefits in the long term. These solutions are mostly preferred by large hospitals owing to the high volumes of data that can be handled with ease. These factors are contributing to the large share of the on-premise solutions segment.
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.
“North America to hold the largest regional market share in 2019.”
North America accounted for the largest share of the global hospital EMR systems market, followed by Europe. The large share of this region can be attributed to factors such as government mandates to implement EHR solutions in hospitals; the presence of major EHR vendors such as Epic Systems Corporation (US), Cerner Corporation (US), MEDITECH (US), CPSI (US), and Allscripts Healthcare Solutions, Inc. (US) in the region; and technological advancements for the development of next-generation EHR solutions.
Recent Development
- In 2020, MTBC acquired CareCloud Corporation that will help the company yield greater operating efficiencies, accelerate growth, and provide more flexibility for future expansion.
- In 2019, MEDITECH collaborated with Google to offer EHR data through the Google Cloud Platform. This helped to securely deliver patient data, enhance scalability, and facilitate interoperability.
- In 2019, NextGen Healthcare acquired OTTO Health that helped the company provide integrated virtual care capabilities to its software. The company has integrated the OTTO Health platform with the NextGen EHR platform.
- In 2019, Epic Systems partnered with Teledoc Health to integrate Teledoc Health & virtual care platform with Epic & App Orchard that would help the company conduct telehealth video visits.
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