Published By : 13 Dec 2016 | Published By : QYRESEARCH
The global healthcare industry has witnessed a digital transformation in the past few years as the number of electronic gadgets, computers, and technologically advanced medical devices started becoming an inseparable part of the overall infrastructure common to any healthcare delivery center. Such vast rise in electronic components in every possible sphere of operations is one of the key factor electronic health records are set to become not only a reality but a common segment of healthcare services across several parts of the globe.
Market to Register Healthy Single-digit Growth
No doubt the technologically advanced healthcare infrastructures of developed economies across North America and Europe are among the first to adopt electronic health records (EHR) in the mainstream, developing economies are also rapidly becoming increasingly adaptable. Transparency Market Research estimates that the global EHR market will exhibit a healthy 6.4% CAGR from 2014 to 2020, rising to a valuation of US$24 bn by 2020.
The market has significantly benefitted from factors such as technological advancements in the field of electronics and telecommunications in the past few years. The ease of availability of advanced mobile technologies and expanding wireless mobile networks are also expected to have a significant impact on the market’s future development.
Ambulatory Centers to Rapidly Adopt Electronic Health Records
Electronic health records are presently most commonly used across hospitals and ambulatory centers. Of these, the use of electronic health records in hospitals rake in the largest share in revenues for the global market. The rising global demand for high-quality healthcare services and the high preference of patients for hospitals for undergoing complex surgeries and other medical practices are the key factors encouraging the use of EHRs across hospitals.
Hospitals will continue to be one of the primary takers of electronic health records in the next few years as well, having a plausible impact on the overall development of the global market. Nevertheless, the prominence of electronic health records across ambulatory centers is also expected to rise at a rapid pace. The increased availability and adoption of wireless electronic health record software systems in retain pharmacies, clinics, and diagnostic labs is also expected to witness significant rise in the next few years.