EMR is a part of healthcare information technology that is used to make paperless computerized patient data in order to increase efficiency of hospital systems and reduce chances of errors in medical records. A substantial growth rate (more than 16%) of global healthcare IT spending is expected to push EMR development across the world.
EMR is the major segment driving its growth. The rising demand for healthcare cost containment and need to improve quality of healthcare service are driving the growth of the Worldwide EMR market. The global EMR market is expected to grow from $4,355 million in 2009 to $9,957 million in 2015, at an estimated CAGR of 14.9% from 2010 to 2015.
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Currently, the market players are focusing on development of interoperable EMR solutions. Many companies have taken the route of agreements and partnerships to leverage technical expertise and achieve their objective. Lowering the cost of EMR implementation is another burning issue within the industry which has driven the growth of web-based EMR solutions within the industry. Though the client server based EMRs formed approximately 78% of the EMR software market.
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North America is a lucrative market for EMR vendors owing to increasing focus on adoption of EMR solutions across the healthcare industry and development of a national health information network across U.S. This market holds the largest share (59.4%) of the global EMR market.
Industry participants with the most significant developments include Allscripts, Cerner, McKesson, EMIS and NextGen. Industry players are undergoing consolidation to achieve marketing and distribution synergy and to develop an interoperable EMR solution.
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