The Global Hospital Electronic Medical Records (EMR) Systems Market is projected to reach $30.00 billion by 2028, from a value of $17.12 billion in 2022, by registering a CAGR of 9.8% during the forecast period. Digitization in the healthcare industry along with government initiatives, rising number of hospitals adopting EMR solutions worldwide, growing patient volume due to the global COVID-19 pandemic, and need to curtail escalating healthcare costs are the major factors propelling the growth of the market. However, high deployment cost of EMR solutions and data security concerns are hampering market growth. Moreover, increase in demand for cloud-based EHR solutions and shift towards patient-centric healthcare delivery systems are creating ample opportunities across the globe.
Recent Developments
In January 2020, MTBC announced the acquisition of CareCloud Corporation, which provides its proprietary, award-winning, enterprise cloud platform and business solutions to more than 7,000 healthcare providers nationwide. The acquisition will help the organization accelerate growth, and provide flexibility of expansion in future.
In December 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 October 2019, Meditech collaborated with Google to offer EHR data through the Google Cloud Platform. This new collaboration solidifies MEDITECHs commitment to securely delivering greater access to patient data, facilitating interoperability, and enhancing scalability.
In October 2019, Epic Systems partnered with Teledoc Health to integrate Teledoc Healths virtual care platform with Epics App Orchard that would help the company conduct telehealth video visits.
Competitive Landscape
GE Healthcare, McKesson, Cerner Corporation, Medhost, Nextgen Healthcare, Cantata Health, Athenahealth, Inc., Epic Systems Corporation, Medical Information Technology, Inc., Eclinicalworks, Computer Programs and Systems, Inc. (CPSI), Allscripts Healthcare Solutions, Inc., MTBC, Advanced Data Systems Corporation, CureMD, Meditech, Intersystems Corporation, and Greenway Health are some of the major players in the global Hospital Electronic Medical Records (EMR) Systems market.
