Hospital-Based EMR Solutions Market Size, Share & Industry Analysis, And Regional Forecast, 2024-2032

An electronic medical record (EMR) is a digital version of a paper record which helps in the storage of information in a secure manner and is visible to other authorized users/practitioners. It is an electronic version of patient medical history, which is maintained and includes all data related to patient care under a particular doctor, which includes past medical history, demographics, progress report, treatment and medications, vital signs, laboratory data, and radiology reports.

Electronic medical record (EMR) systems have become popular, as the entire healthcare industry is slowly moving toward digitization. The electronic medical records assist the overall healthcare delivery process in lowering their cost and maximizing their profits.

Initiatives by the government or regulatory bodies like encouraging physicians to adopt the electronic health records, establishing regional centres to provide technical advisory, and investments to train healthcare information technology professionals are driving the market growth. For example, according to the American Recovery and Reinvestment Act, all private and public healthcare providers are expected to demonstrate “meaningful use” of EMRs from 1^st January 2014. The rising need for an integrated healthcare system, technological advancements in technologies, and big data trends in the healthcare industry are accelerating the market growth. Increase in demand for cloud-based EHR solutions and patient-centric healthcare delivery are expected to project new opportunities for the electronic medical records (EMR) market players.

However, the reluctance of adopting the EMR solutions by developing countries and the need for significant investments in terms of infrastructure development are restraining the market growth. The compatibility issues and the increasing data security concerns challenge the growth of the market.

Key Market Driver -

Digitalization in the healthcare industry along with government initiatives are major factors driving the market growth.

Key Market Restraint -

High deployment cost and reluctance to adopt EMR solutions are factors obstructing the market growth.

Market Segmentation:

Globally, the Hospital-based EMR Solutions market can be segmented on the basis of component, type, mode of delivery, end user, and region. Based on components, the market can be segmented into services, software, and hardware. Based on application, the market can be segmented into general application and specialty based application. Based on mode of delivery, the market can be segmented into cloud based and on premise. Based on hospital size, the market can be segmented into large hospitals and small hospitals. Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The major companies in the global Hospital-based EMR Solutions market report includes Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare, LLC, Medical Information Technology, Inc., CPSI, GE Healthcare, Intersystems Corporation, MTBC, eClinicalWorks, Advanced Data Systems Corporation.

Key Insights

• Hospital-based EMR Solutions Market Analysis - by Key Players


• Technological advancements in the Hospital-based EMR Solutions market


• Overview of R&D advances in Hospital-based EMR Solutions


• Impact of COVID-19 on the Global Hospital-based EMR Solutions Market


• Key Industry Development - Mergers and Acquisitions

Regional Analysis:

North America holds the largest share in the global market, followed by Europe. The dominance of this region is due to the government regulations for the implementation of EMR solutions in hospitals, the presence of major players and the technological advancements for the development of next-generation EMR solutions. The Europe region is also anticipated to witness significant growth, due to the recent developments and recommendations from the European Commission (EC). This new recommendation would help European citizens to access their health data from any part of the European Region.

The Asia Pacific is the fastest-growing region due to the various investments, reforms to modernize healthcare infrastructure, and e-health initiatives in Australia. The Latin America and the Middle East region represent great opportunities for manufacturers of EMR solutions as there is slow adoption of EMR in various hospitals in this region. 

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Segmentation

Hospital-based EMR Solutions Industry Developments

• In January 2020, MTBC announced the acquisition of CareCloud Corporation. The acquisition will help the organization accelerate growth, and provide flexibility of expansion in future.


• In October 2019, MEDITECH announced the collaboration with Google to provide EHR data through the Google Cloud Platform. This collaboration would help the company to securely deliver patient data, improve its scalability, and facilitate interoperability.