(PharmaNewsWire.Com, November 03, 2021 ) According to the new market research report Ambulatory EHR Market is expected to reach USD 6.8 billion by 2025 from USD 5.2 billion in 2020, at a CAGR of 5.7% during the forecast period of 2020 to 2025.
Growth in the global ambulatory EHR market can primarily be attributed to various factors such as government support for the adoption of EHR solutions, increasing number of outpatient care centers, growing patient volume due to the global outbreak of COVID-19, and the need to curtail healthcare costs. On the other hand, market growth is limited to a certain extent due to factors such as reluctance to adopt EHR solutions in developing countries, heavy infrastructure investments, and the high cost of deployment.
Based on delivery mode, the hospital EHR market is segmented into on-premise and cloud-based solutions. In 2019, the cloud-based solutions segment accounted for the largest share of the market. The market is mainly driven by the advantages associated with cloud-based solutions, which include flexibility and cost reductions in healthcare delivery.
On the basis of application, the global market has been segmented into practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. The practice management segment commanded the largest share of the global ambulatory EHR market in 2019. The significant share of this application segment can primarily be attributed to the wide range of advantages associated with practice management solutions, including increased efficiency of day-to-day operations, enhanced value of services provided to patients, and improved adherence to compliance requirements.
Some of the key players competing in the ambulatory EHR market are Epic Systems Corporation (US), Cerner Corporation (US), Allscripts Healthcare Solutions (US), Medical Information Technology, Inc. (MEDITECH, US), CPSI (US), Modernizing Medicine, Inc. (US), NextGen Healthcare Information Systems, LLC (US), eClinicalWorks (US), athenahealth, Inc. (US), Medical Transcription Billing Corporation (MTBC, US), Amazing Charts, LLC (US), Greenway Health (US), eMDs, Inc. (US), NetSmart Technologies (US), and CureMD (US). These players have adopted various growth strategies such as partnerships, agreements, collaborations, new product launches, and acquisitions to increase their presence in the global ambulatory EHR market.
Epic Systems (US) was the leading player in the ambulatory EHR market in 2019. Epic’s position in the market is mainly due to the innovative EHR solutions offered by the company. The company also focuses on improving its geographic presence across the globe and integrating its EHR solutions with other healthcare IT solutions to improve the quality of care and enhance productivity for healthcare providers. In this regard, in 2019, the company partnered with Teledoc Health (US) with the aim to integrate Epic’s EHR solutions with telehealth solutions and tools that can deliver real-time pharmacy data. The company also focuses on R&D activities to develop its ambulatory EHR that meet the customers’ demands.
The ambulatory EHR market is predominantly divided into five major geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of this market, followed by North America. Growth in the North American market can be attributed to factors such as federal mandates, the increasing geriatric population, collaboration between stakeholders, the need to curtail healthcare costs, payment deductions driving the adoption of EHR, conferences and workshops to raise awareness in the US, growing efforts to enhance healthcare delivery, and the adoption of digital recordkeeping in Canada.
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