Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "US Electronic Health Record Market Size and Forecasts, Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Installation Type, Type, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The United States is witnessing a transformative phase in healthcare digitization, with the Electronic Health Record (EHR) market playing a pivotal role. The extensive utilization of EHR systems is expected to balloon to a staggering $39.993 billion market size by the end of 2030, demonstrating a robust Compound Annual Growth Rate (CAGR) of 12.5% from 2022 to 2030.
Growth Drivers and Regional Trends
The market's significant growth trajectory is primarily propelled by the increasing embrace of electronic health records, buoyed by federal incentives and the urgent need to curtail medication errors. The Health Information Technology for Economic and Clinical Health (HITECH) Act, which apportioned $27 billion towards incentivizing the adoption of EHR systems, has been a primary catalyst, encouraging healthcare establishments to transition from paper files to digital records.
Furthermore, advancements in integrating EHR with cutting-edge artificial intelligence and voice recognition technologies are casting light on future market trends. Such integrations are anticipated to streamline healthcare delivery by enhancing the accuracy and efficiency of data recording and retrieval processes.
Impact of Cloud-Based Solutions
A deep dive into the segmentation of the market reveals that cloud-based installation is outpacing on-premises solutions. The convenience, scalability, and cost-efficiency of cloud-based EHRs are resonating with healthcare providers, particularly those operating on a smaller scale. Renowned market leaders are continuously innovating in this arena, offering groundbreaking platforms optimized for improving healthcare outcomes while ensuring flexible remote data access.
US Market: A Hub of EHR Innovation
The US market emerges as a powerhouse in North America, spurred by digital healthcare transformation, a burgeoning chronic disease prevalence, and strategic government initiatives designed to refine care quality. The market is further bolstered by the growing necessity for automation to address increasing patient volumes against the backdrop of resource constraints.
Strategic Developments
To maintain their competitive edge, companies within the US EHR market are adopting a mix of organic and inorganic growth strategies. These include product launches, collaborations, and acquisitions that are set to enhance market presence and enlarge customer bases, contributing to the sustained growth of the market.
- Focus on streamlining administrative operations to reduce errors.
- Enriched patient outcomes via efficient EHR system integrations.
- Strategic alliances fostering industry innovation and expansion.
The report, which encapsulates these insights and more, has been meticulously prepared utilizing authoritative sources like The Office of the National Coordinator for Health Information Technology (ONC) and other healthcare industry mainstays.
The comprehensive findings and strategic recommendations within the report are geared towards enabling entities across the value chain to craft long-term, effective market approaches. In conclusion, with the EHR market in the US preparing for significant upswings and sustaining momentum through strategic advancements, stakeholders are poised to witness and partake in a healthcare revolution, anchored by digitization and innovative technology integrations.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 114 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 15.63 Billion |
| Forecasted Market Value by 2030 | 39.99 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | United States |
Companies Profiled
- Oracle
- AltexSoft
- Veradigm
- Greenway Health
- eClinicalWorks
- Infor-Med Inc
- Microwize Technology
- Athenahealth
- ChipSoft
- CureMD
- AdvancedMD
- PracticeSuite
For more information about this report visit https://www.researchandmarkets.com/r/v7lmsy
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