Electronic Health Records Market Size, Share, Growth Analysis, By Product(Client Server Based and Web Base), By Type(Acute EHR, Ambulatory EHR and Post-Acute EHR), By End user(Hospitals Use and Ambulatory Use (Physician’s Clinic Laboratories and Pharmacy)), By Business Model(Licensed Software, Technology Resale, Subscriptions, Professional Services), By Region - Industry Forecast 2024-2031

Drivers 

Increasing insurance penetration 

• In the past couple of decades, medical insurance has been a luxury in the developing and underdeveloped economies with more than 50% of the mass population in these regions lacking insurance coverage. With the emergence of private insurance companies’ insurance penetration rates are on the rise especially in the developing countries in Asia Pacific, Latin America and Eastern Europe. Higher insurance coverage requires more health record integration among hospitals, insurance companies and insured, this is expected to drive the demand for EHR market. 

Growing app based medical services 

• Higher internet penetration and improving internet connectivity has fueled the demand for app-based services. App based medical services such as video-based doctor consultation, online order for pathology services and medicines is on the rise which has created high volume of health record data and the app developers and investing on EHR software for storing customer data which are not only used to maintain record but also for marketing analysis.  

Restraints 

Lack of IT infrastructure in Government hospitals 

• Both in developed and developing economies government hospitals have low budget for investing in IT services. Government medical facilities are part of the emergency services, and the organization is overburdened with a high volume of patients. Hence the majority of the resources are spent on providing medical services leaving less room for improving the IT infrastructure. 

Slow adoption of technology in healthcare sector 

• Among the different end use industries, the healthcare sector has always been slow in adopting new technologies in comparison to other sectors such as banking, finance, media among others. Post pandemic medical institutions were forced to adopt technology as a necessity however the percentage is still considerably low. Moreover, strict regulations surrounding the healthcare sector pertaining to patient data and data privacy are also restricting the demand for EHR.