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(Medical-NewsWire.com, November 15, 2022 ) Projected Surge in Revenue Generation:
The global ambulatory EHR market is projected to reach USD 7.7 billion by 2027 from an estimated USD 5.7 billion in 2022, at a CAGR of 6.1% during the forecast period.
Major Growth Influencing Factors:
Growth in this market is primarily driven by the growing demand for HCIT solutions, the rising number of outpatient facilities, rising funding-related initiatives by the government. However, the high infrastructure, maintenance and training costs leading to unwillingness of healthcare providers to adopt ambulatory EHR solutions in developing countries is expected to restrain market growth to a certain extent.
In 2021, the cloud-based segment accounted for the largest share of the ambulatory EHR market.
Based on delivery mode, the ambulatory EHR market is segmented into on-premise and cloud-based solutions. The cloud-based segment accounted for the largest share by delivery mode of the ambulatory EHR market. The major factor contributing for its large share includes increasing demand for cloud-based HCIT solutions due to more flexibility and cost-reduction.
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The health analytics segment is expected to witness the highest growth rate in the ambulatory EHR market.
On the basis of application, the global ambulatory EHR market has been segmented into practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. The health analytics segment is expected to register the highest CAGR during the forecast period. Factors responsible for the growth of this segment are the benefits offered by health analytics such as improved patient safety and health outcomes, evidence-based improvements in the quality of care, effective and efficient healthcare services, and forecasts of healthcare needs.
Global Geographical Growth Dynamics:
North America dominated the ambulatory EHR market in 2021
North America accounted for the largest share of the ambulatory EHR market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the strong HCIT infrastructure in the region, increasing investments and regulatory mandates favouring the implementation of EHR solutions, and the rising utilization of remote patient monitoring solutions and services for the management of chronic diseases and lifestyle disorders. The presence of major market players in the US and a large number of outpatient healthcare facilities are further contributing to the growth of the market in the region.
Epic Systems Corporation (US), Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), Medical Information Technology, Inc. (MEDITECH, US), Computer Programs and Systems, Inc. (CPSI, US), are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.
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