One element affecting the industry is the growing focus on interoperability across healthcare IT systems. Acute care EHR solutions that enable seamless information interchange across healthcare departments, providers, and systems improve patient care integration and coordination.
Acute Care Electronic Health Record (EHR) business regulations, such as those set by government healthcare authorities, have a major influence. Mandates that promote or require healthcare institutions to employ EHRs are growing the sector. Because providers work hard to follow regulatory agency requirements.
Continuous technical advances in electronic health record systems drive commercial innovation. Artificial intelligence, predictive analytics, and mobile access may enhance acute care EHR systems. These attributes appeal to healthcare professionals seeking modern patient care and data management technologies.
The industry-wide trend toward patient-centered care is affecting the market. Patient engagement elements like customized health records and secured patient portals improve medical professional-patient contact in acute care electronic health record (EHR) systems. This increases patient engagement in treatment decisions.
Customers' growing worries about patient data privacy and safety affect the industry. Acute care EHR providers that use robust security, encryption, and data protection requirements gain healthcare organizations' confidence and boost their products' marketability. These providers provide a safer atmosphere for patients.
Due to the sector-wide trend toward value-based care, acute care EHR systems are becoming increasingly popular. These technologies allow healthcare providers to monitor and report quality measures, enhance patient outcomes, and conform with value-based compensation schemes.
Cloud-hosted EHR solutions are in demand for acute care. Cloud technology lets healthcare institutions securely access patient data from several locations. This technology's versatility, scalability, and accessibility allow this. This makes it easier for healthcare workers to collaborate, improving operational efficiency.
The acute care EHR market in the healthcare information technology sector is affected by supplier consolidation and collaboration. EHR technology vendors' mergers, acquisitions, and alliances with other healthcare technology providers affect the sector's dynamics. These actions provide more complete and integrated solutions.
Report Attribute/Metric | Details |
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Growth Rate | Â Â 3.8% |
Acute Care EHR Market Size was valued at USD 19.30 Billion in 2023. The Acute Care EHR industry is projected to grow from USD 20.05 Billion in 2024 to USD 570.09 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.98% during the forecast period (2024 - 2032). The electronic health record (EHR) is a longitudinal electronic record of the patient's health information, including past medical history, complications, medication, progress notes, patient demographic, vital signs, immunization, laboratory data and others.
The acute care EHR slightly differs from ambulatory EHR and hospital EHR. It generates patient information showing all clinical details for the emergency department, operating room, ICU or any other inpatient unit. During the last decade, the significant increase in the number of patients suffering from diabetes, cancer, heart disease among people has increased the number of the hospital all around the world. According to the Centers for Diseases Control and Prevention, 7 out of 10 deaths are due to chronic disease globally.
The acute care EHR market is majorly operated by the rising commonness of chronic diseases, increase in the number of hospitals and ambulatory centers and increase in the number of patients. The rise in the requirement of remote monitoring of senior patients has played a crucial role in creating demand for improving healthcare facilities. Healthcare IT has helped overcome this problem and has improved the quality of treatment. It also helped in healthcare maintenance. The introduction of the adoption of advanced devices & technology and advanced healthcare software by healthcare has raised the market's growth. Due to the use of advanced technology, the cost of the treatment is increased, which is affecting the affordability of patients in developing countries.
Covid-19 analysis
Due to the impact of the pandemic outbreak Covid-19, the electronic medical record system is built for tracking and invoicing the patients other than taking good care, which is most needed. As covid-19 keeps rising, the existing software can track such outbreaks or not is needed to be seen. The various risk levels of this virus can be identified in advance, which can help prevent this disease by attaining high-quality outcomes. Electronic health records are proved to be helpful for population health and data management during the time of the pandemic. The global acute care EHR market is predicted to have significant development as more attempts to utilize digital platforms due to pandemic management develop ongoing usage of the digital technology in the future.
The market is impacted by new expansion activities, product launches, product approvals, partnerships, and acquisitions in recent years. There has been a notable increase in the demand for electronic health records due to growing digitalization which is fueling the acute care EHR market growth.
Rising demand for centralization and streamlining of healthcare administration is also predicted to operate the market for electronic health records. Centralization of health and management is operated by a value-based model which targets streamlining operations, standardizing processes, reduction of costs, and improving the quality of care that results in patient satisfaction.
As advanced technology is being used, the cost of the treatment is increased, which affects the affordability of patients in developing countries. Because not everyone is able to afford such expenses, the high cost of the devices and treatment may slow the growth of the market as many people are not able to buy the Product.
The increasing number of ambulatory hospital centers is a major opportunity for acute care EHR market value. It is Funded by several sources such as charities, the public sector, health insurance companies, health organizations of all other kinds; it is also another opportunity of this market.
The high cost of EHR and the growing concern about patient data safety and security due to the increasing cybercrime are some important restraints to the acute care EHR market. However, information technology, a lack of uniform definitions and concepts, lack of needs assessment and cultural issues before implementation are challenges for the EHR infrastructure, but structural challenges are caused by enforcing stability, privacy violation and legal cases. These are a few restraints of the market which drag back the market from growing and developing further.
Cumulative Evaluation Of The Market
The acute care EHR market size was estimated at USD 27.2 billion in 2021, and it is predicted to expand at a CAGR of 4.0% from 2024 to 2032. Government initiatives to encourage healthcare usage are the key driver of this market. Demand for web-based EHRs is predicted to show the largest growth during the estimated period. These EHRs are most convenient to use in pharmacies, clinics, and small-scale laboratories, as they require limited hardware infrastructure, which reduces the installation cost.
The acute care EHR market globally is segmented under deployment, application, and end-users.
Under the deployment, the market is divided into On-Premises based, Web-based. Under the application, the market is divided into personal care, pharmaceuticals, and others. Under the end-users, the market is divided into hospital, ambulatory care and others.
The global acute care EHR market forecast is dominated by America owing to the increase in the number of hospitals, presence of huge patient population, ambulatory centers and well-developed technology. As these are funded by several funds, the hospital and clinics are able to afford the cost of the devices. The funds come from the public sector, health insurance companies, charities, health organizations of all kinds, etc. On account of higher per capita income in this region, the people in this region are able to afford the high cost of treatment. With the rapid increase in patient population, governments have started supporting the manufacturers for the development of advanced devices, which has operated the growth of the market. The well-developed technology, high healthcare expenditure, and huge senior population have boosted the growth of the market in this region.
Europe is the second-largest acute care EHR market which is followed by the Asia Pacific. Strong Government support, Availability of funds, and increasing need for better management devices & platforms operate the growth of the market in Europe. Western Europe has a major share of the market due to the presence of well-developed economies. U.K, Germany and France are the major regions that contribute to the market.
Asia Pacific is the fastest growing acute care EHR market size owing to the rapidly increasing number of hospitals & clinics and the increasing number of patients suffering from chronic diseases. The rapidly growing economies and increasing healthcare expenditure will boost the growth of the market. Whereas the Middle East & Africa hold the least share of the market owing to limited availability of medical facilities, less availability of funds and poor political conditions in Africa.
The competitive landscape of the acute care EHR market analysis shows an oligopoly market structure that is dominated by some of the major vendors such as Cerner, Allscripts, and Epic system corporations. The constant technological innovation is combined with the extensive product portfolio of EHR suites by these companies is the main factor that is responsible for the dominance of the industry.
There are some key companies in the market such as:
These are the competitive key players which represents the Acute Care EHR Market Outlook.
Recent Market Developments
SimboAlpha, Simbo.ai’s main cloud-based API technology platform, was launched in March 2021. It has access to EMR providers, hospital chains and app providers to give smart voice-based EMR to physicians.
Epic System launched the epic EHR in 190 health systems in October 2020, making it the most effective implementation of vendor globally and increasing Acute Care EHR Market Share.
Report Overview
This report consists of the market overview, the market strategies, Size, Market Share, Analysis, Trends, Forecast, Outlook, Opportunities, Challenges and Restraints.
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