The Global Electronic Health Record (EHR) Market is projected to reach $40.13 billion by 2028, from a value of $28.29 billion in 2022, by registering a CAGR of 6.0% during the forecast period. Increasing demand for centralization and streamlining of healthcare administration, expanding adoption of EHR for delivering enhanced patient care and introduction to technologically advanced healthcare services are the major factors propelling the growth of the market. However, high costs and a lack of skilled professionals are hampering the market growth. Moreover, initiatives to expand foothold in digital health technologies are creating ample opportunities across the globe.
Recent Developments
In March 2022, Cerner Corporation expanded its collaboration with Nuance Communications, Inc. to integrate the Nuance® Dragon® Ambient eXperience (DAX) system into the Cerner Millennium® electronic health record (EHR). The collaboration deepens the existing integration of Nuance and Cerner technologies and is expected to help manage administrative workloads that lead to clinician burnout, expand access to care for patients, and enhance healthcare outcomes with clinical documentation that writes itself.
In Dec 2019, NextGen Healthcare, Inc. acquired OTTO Health. The integration of OTTO Virtual Visits and the Medfusion Patient Experience Platform into the EHR will have a profound impact on patients and the way they engage with their providers.
In March 2018, Allscripts Healthcare Solutions, Inc launched its new electronic health record (EHR), Avenel, at the annual HIMSS conference. Mobile-first and cloud-based, Avenel creates a community-wide shared patient record, uses machine learning to reduce time for clinical documentation and is designed to work like an app instead of traditional software.
In Oct 2019, Meditech collaborated with Google Cloud Platform (GCP) to Bring EHRs to the Public Cloud. This new collaboration solidifies MEDITECHs commitment to securely delivering greater access to patient data, facilitating interoperability, and enhancing scalability.
Competitive Landscape
Vitera Healthcare Solutions, Platinum System Specialistis, Inc, NextGen Healthcare Inc., eClinicalWorks, Meditab Software, Inc, Aprima Medical Software, Greenway Health, LLC, Athenahealth, Epic system corp., McKesson Corp., Cerner Corporation, Allscripts Healthcare Solutions, Inc, Meditech and GE Healthcare are some of the major players in the global Electronic Health Record (EHR) market.
