Hospital EMR Systems Market Worth $20.7 Billion by 2025 - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, June 12, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets(TM), the Hospital EMR Systems Market 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.
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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.
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.
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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.
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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.
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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