The US Electronic Medical Records Market to Hit $8.10 Billion by 2029, Modernization of Healthcare Creating Huge Demand for EMR – Arizton

According to Arizton’s latest research report, the US electronic medical records (EMR) market is growing at a CAGR of 5.35% during 2023-2029.        

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Report Summary               

Market Size (2029): $8.10 Billion 

Market Size (2023): $5.92 Billion 

CAGR (2023-2029): 5.35%     

Historic Year: 2020-2022          

Base Year: 2023          

Forecast Year: 2024-2029     

Market Segmentation: Development, Component, Application, and End-User         

The Rise of EMR Systems in Modern Healthcare Creating Market Expansion 

The adoption of Electronic Medical Record (EMR) systems has surged in healthcare settings over the past decade. Due to federal funding and legislation mandating the adoption of EMR systems, over 96% of hospitals and physicians had transitioned to digital systems by 2023, a significant leap from less than 10% in 2010. This shift reflects an evolving healthcare landscape where EMR providers are increasingly vital. Demographic and economic factors have driven the widespread use of EMRs, and their benefits—such as cost savings, enhanced security, and improved coordination—underscore the superiority of digital records over paper-based ones. EMRs have become integral to the more digital healthcare environment of today. Most health systems now rely on EMR systems for their ability to enhance security, patient outcomes, and overall efficiency. Innovators continue to push the boundaries at this digital frontier, demonstrating how EMRs can contribute to safer, more effective, and more affordable healthcare.  

Segmentation Insights 

Insights by Development Type 

The U.S. electronic medical records (EMR) market is segmented by development type, with the web/cloud-based EMR segment leading the 2023 market, capturing over 62% of the share. The growing digitalization of healthcare is fueling the demand for cloud-based EMR solutions and the adoption of cloud-based healthcare systems. These solutions require minimal upfront investment, offer high scalability, and are easily accessible. However, security concerns persist, and healthcare organizations must carefully weigh factors such as cost, security, accessibility, and scalability when choosing cloud-based EMRs. 

Insights by End-User Type 

The specialized clinics segment is experiencing significant growth, with the highest compound annual growth rate (CAGR) of 6.15% projected during the forecast period. This growth is attributed to the increasing accuracy and systematization of these clinics. Specialty-specific EHRs provide a standardized system that helps maintain peak performance by minimizing errors and redundancies. This, in turn, enables staff to operate more efficiently, reducing patient wait times. 

Competitive Overview   

The U.S. electronic medical records (EMR) market report features exclusive data on 37 vendors. This market is highly competitive, marked by rapidly evolving technology, shifting solution standards, changing user needs, and the frequent introduction of new solutions and services. With their innovative products and technologies, emerging med-tech companies pose a significant threat to established global players. Competition is expected to intensify further, driven by potential incentives from government programs and ongoing consolidation within the I.T. and healthcare industries.      

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Key Vendors 

• Epic Systems Corporation 
• Praxis EMR 
• Oracle 
• eClinicalWorks 
• MEDITECH 
• Veradigm 
• NextGen Healthcare 
• TruBridgem 
• Practice Fusion 
• Greenway Health 
• G.E. Healthcare 
• Nextech 
• DrChrono 
• AdvancedMD 
• Athenahealth 
• CompuGroup Medical 
• Carecloud 
• CureMD 
• PrognoCIS 
• Kareo 
• Azalea Health 
• Modernizing Medicine 
• Integrated Practise Solutions 
• Altera Digital Health 
• American EMR 
• Virence Health 
• Valant 
• TherapyNotes 
• Netsmart 
• RXNT 
• Amrita Medical Solutions 
• Askesis Development Group 
• Cantata 
• Qualifacts 
• Medhost 
• Optum 
• Harris Healthcare 

Segmentation & Forecast 

• Deployment 
• Web/Cloud-based EMR System 
• On-Premises EMR System 
• Hybrid EMR System 
• Component 
• Software 
• Services 
• Application 
• Specialty Care 
• Primary Care 
• End-User 
• Hospitals 
• General Physician Clinics 
• Specialized Clinics 
• Others 

Key Questions Answered in the Report:              

How big is the U.S. electronic medical records (EMR) market? 

What is the growth rate of the U.S. electronic medical records (EMR) market? 

What are the U.S. electronic medical records (EMR) market trends? 

Who are the major U.S. electronic medical records (EMR) market players?              

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