Electronic Health Records (EHR) Market to Expand at a CAGR of 5.2% over 2024 to 2032; NextGen Healthcare Launched NextGen Office Ambient Assist to Secure an Edge over Competitors

The global Electronic Health Records (EHR) market size stood at USD 29.68 billion in 2023. The market value is slated to rise from USD 31.00 billion in 2024 to USD 46.63 billion by 2032 at a CAGR of 5.2% during 2024-2032. Fortune Business Insights™ presents this information in its report, titled “Electronic Health Records (EHR) Market Size, Share & Industry Analysis, By Product (Web-based and On-premise), By Type (Standalone and Integrated), By End-User (Physician Offices, Hospitals, and Others), and Regional Forecast, 2024-2032”.

Electronic Health Records (EHR) are used for collecting a patient’s medical history and are increasingly being adopted across various healthcare settings for improving the quality of their services. The mounting endeavor of industry players to invest in the development and launch of advanced software solutions is set to push market expansion over the forthcoming years.

The COVID-19 pandemic negatively affected industry expansion, driven by a decline in the revenues of market players considering the reduced product adoption. Furthermore, a drop in patient volumes also impacted the Electronic Health Records (EHR) market during the pandemic period.

Thomson Medical Went Live at Thomson Medical Center with MEDITECH’s Expanse EMR to Modernize Healthcare Services

In May 2024, Thomson Medical went live at its specialty hospital Thomson Medical Center with MEDITECH’s Expanse EMR, intending to provide modernized services. ‘Expanse’ was chosen following an in-depth evaluation of several IT platforms on the basis of digital enablement, interoperability, and usability. Some of the major factors in the decision-making process involved benefits such as improved coordinated care and productivity and features such as a fetal heart monitor.

Rising Integration of ML and AI Tools in EHR Solutions to Propel Industry Growth

The mounting emphasis of industry players on the integration of AI-powered solutions in EHR systems is anticipated to bode well for market expansion over the coming years. The Electronic Health Records (EHR) market growth is further favored by the mounting technological advancements such as incorporation of Machine Learning (ML) and Artificial Intelligence (AI) tools in the solutions.

However, the industry growth may be affected due to the lack of awareness associated with EHR systems.

Leading Players Enter Collaborations to Strengthen Global Brand Presence

Major industry players are forging strategic partnerships and acquiring other companies to consolidate brand presence and increase their Electronic Health Records (EHR) market share. There is also a robust emphasis on investments and R&D activities. A few of the major participants in the market comprise NextGen Healthcare and Oracle.

Key Players Profiled in the Report:

• Epic Systems Corporation (U.S.)


• Veradigm LLC (U.S.)


• Oracle (U.S.)


• eClinicalWorks (U.S.)


• Athenahealth (U.S.)


• NextGen Healthcare (U.S.)


• Medical Information Technology, Inc. (U.S.)


• Kareo, Inc. (U.S.)   

Key Industry Development

• June 2024 – NextGen Healthcare launched the NextGen Office Ambient Assist, expanding the capabilities of NextGen Ambient Assist for large and mid-sized practices.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/electronic-health-records-ehr-market-102660

Further Report Findings:

• North America’s market for Electronic Health Records (EHR) registered a leading market share in 2023 fueled by the escalating strategic partnerships between healthcare providers and industry players.


• Rising awareness regarding the benefits of EHR systems in healthcare settings and enhancements in healthcare infrastructure are set to push industry growth in Asia Pacific.


• The Middle East & Africa and Latin America are set to expand owing to the escalating launch of new electronic health records by industry players in Mexico and Brazil.


• By product, the market is subdivided into web-based and on-premise. The web-based segment accounted for a prominent share considering the mounting adoption of these solutions due to a range of benefits such as reduced cost, enhanced efficiency, and enhanced scalability.


• By type, the market is bifurcated into integrated and standalone. The integrated segment captured a dominating share of the global market in 2023 owing to the rising adoption and awareness of integrated software among healthcare providers.


• On the basis of end-user, the market is segregated into hospitals, physician offices, and others. The hospitals segment held a prominent share in 2023 owing to the mounting number of hospitals and increasing product demand in emerging and developed nations.

Table of Segmentation