Electronic Health Records (EHR) Market: North America and Europe’s Firm Foothold Will Continue to 2020 Thanks to Government Backing
Electronic Health Records (EHR) Market (Installation Types: Web-based EHR System and Client Server-based EHR System; End-users: Hospitals and Ambulatory Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Paper-based records are being phased out at a rapid pace in the healthcare industry, and paperless healthcare systems are filling this void. Digitization and virtualization are the two biggest trends and they have created a whole new electronic health records (EHR) market within the global healthcare industry. The ball has been set rolling with over 54% physicians in the United States adopting electronic health record systems, as of 2011. These estimates were reported by the U.S. Centers for Disease Control (CDC). In the same year, 50% of physicians who were not already using an EHR system said that they planned to invest in one within the next twelve months.
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A similar change is taking place in the United Kingdom, as by 2018, the National Health Service (NHS) is slated to go entirely paperless. Thus, the market for electronic health records in the United Kingdom looks promising.
Market Forecasts in Numbers: The Electronic Health Records Market will Show a 6.4% CAGR
According to the findings of Transparency Market Research (TMR), a U.S.-based market intelligence firm, the global electronic health records (EHR) market is projected to show a CAGR of 6.4% between 2014 and 2020. This marks an imminent phase of moderate growth that will largely be seen in traditional markets.
The global EHR market can be segmented based on the way the EHR systems are installed as web-based or client server-based. The latter...