(I-BusinessNews.Com, May 13, 2021 ) According to the research report the ambulatory EHR market size is projected 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.
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The key factors propelling the growth of the global ambulatory EHR market are government support for the adoption of HCIT, an increase in the COVID-19 patient volume, growing usage of EHR solutions, and the need to curtail healthcare costs. On the other hand, heavy infrastructure investments and the high cost of deployment are limiting the growth of the global ambulatory EHR market to a certain extent.
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 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.
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 ambulatory EHR market. The market is mainly driven by the advantages associated with cloud-based solutions, which include flexibility and cost reductions in healthcare delivery.
Opportunities: Increasing demand for cloud-based ambulatory EHR solutions
The innovation of the cloud platform has offered new business capabilities and opportunities to healthcare enterprises across the globe. Cloud-based alternatives are widely preferred by providers as well as payers over on-premise solutions. The advantages of cloud-based platforms for healthcare enterprises include the lower upfront costs, better exchange of patient data, access on-demand capacity, simple implementation & scalability, and quick deployment.
Challenges: Interoperability issues
Heterogeneity in health information systems is one of the key challenges for the successful implementation and utilization of healthcare IT solutions. Many countries lack specific IT standards for data storage and exchange, which leads to interoperability issues. In this diverse environment, the need for interoperability and interoperability standards becomes critical. Due to the lack of defined standards, vendors also follow different data formats and standards that make it difficult to share real-time data with partner systems, thereby increasing the challenge for successful health information exchange.
The prominent players operating in the ambulatory EHR market are Epic Systems Corporation (US), Cerner Corporation (US), Allscripts Healthcare Solutions (US), Modernizing Medicine, Inc. (US), Medical Transcription Billing Corporation (MTBC, US), Amazing Charts, LLC (US), Medical Information Technology, Inc. (MEDITECH, US), CPSI (US), NextGen Healthcare Information Systems, LLC (US), eClinicalWorks (US), athenahealth, Inc. (US), Greenway Health (US), eMDs, Inc. (US), NetSmart Technologies (US), and CureMD (US).
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Geographically, the global physitherapy market is segmented into North America, Europe, the Asia Pacific, and Rest of the World )RoW). North America accounted for the largest share of this market, followed by North America. Growth in the North American ambulatory EHR market can be attributed to factors such as federal mandates, payment deductions driving the adoption of EHR, the increasing geriatric population, collaboration between stakeholders, the need to curtail healthcare costs, 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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