The Rising Prevalence Of Chronic Diseases Will Drive The Ambulatory Electronic Medical Records Market Growth As Per The Business Research Company's Ambulatory Electronic Medical Records Global Market Report 2022
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LONDON, Dec. 13, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research on the ambulatory EMRs market, the rising prevalence of chronic diseases is expected to propel the growth of the ambulatory electronic medical records market going forward. Chronic diseases refer to conditions that last 1 year or more and require ongoing medical attention or limit activities of daily living or both. The rising prevalence of chronic diseases is fueling the growth of ambulatory healthcare services as it requires ambulatory electronic medical records for patient management.
For instance, in 2020, according to the World Health Organization, a Switzerland-based government agency responsible for international public health data, the chronic disease prevalence increased by 57%. Therefore, the rising prevalence of chronic diseases is driving the growth of ambulatory electronic medical records.
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The global ambulatory electronic medical records market size is expected to grow from $5.75 billion in 2021 to $6.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. As per TBRC’s ambulatory electronic medical records market report the market is expected to grow to $8.18 billion in 2026 at a CAGR of 7%.
Technological advancement is a key trend gaining popularity in ambulatory electronic medical records. Major companies operating in the ambulatory electronic medical records sector is focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2020, Cerner Corporation, a US-based health information technology company launched CommunityWorksSM Foundations, a cloud-based version of the Cerner Millennium electronic health record created to help critical access and rural hospitals reduce financial burdens across the US. This new technology provides a fixed-fee payment structure with no up-front capital spending for reducing costs and lengthy implementation processes. It has been designed to expedite implementation with a six-month kick-off to go-live timeline and will make it easier for small hospitals to better serve their patients.
Major players in the ambulatory electronic medical records market are Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare LLC, Medical Information Technology Inc., Computer Programs and Systems Inc., General Electric Company, Athenahealth, MEDHOST, eClinicalWorks, NXGN Management LLC., Intersystems Corporation, CareCloud Inc., Cantata Health Solutions, Advanced Data Systems, and CureMD Healthcare.
North America was the largest region in the ambulatory electronic medical records market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ambulatory electronic medical records market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global ambulatory electronic medical records market is segmented by component into hardware, software; by practice type into large practices, small-to-medium-sized practices, solo practices freestanding; by delivery mode into cloud-based, on-premise; by application into practice management, patient management, e-prescribing, referral management, population health management, decision support, health analytics; by end users into hospital- owned ambulatory centres, independent centres.
Ambulatory Electronic Medical Records Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide ambulatory electronic medical records market overview, ambulatory EMRs market forecast size and growth, ambulatory electronic medical records market share, ambulatory EMRs market segments, ambulatory EMRs market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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