The global Hospital EMR Systems Market is valued at an estimated USD 12.0 billion in 2018 and is projected to reach USD 18.3 billion by 2023, at a CAGR of 8.8% during the forecast period. The growth in this market is primarily attributed to factors such as government support for the adoption of EMRs and the rising need to curtail healthcare costs.
In the EMR type, general EMRs is growing at fastest rate during the forecast period
In the EMR type, the general EMRs segment is expected to register highest CAGR during the forecast period. General EMRs are designed for use by universal practices. They have all the functions of EMR, such as CPOE, clinical decision support, controlled medical vocabulary, clinical data repository, ordering, and billing. Due to their multi-function, multi-specialty capabilities, these EMRs can be used in various specialties through flexible functioning and incorporated plugins.
North America is expected to account for the largest market size during the forecast period
North America is the major revenue generating region in Hospital EMR Systems Market. Federal mandates in the US, growing digitalization in healthcare coupled with favorable government policies, and continuous support in the form of grants by the federal government in Canada are some of the factors contributing to the large share of this segment.
The major vendors in the hospital EMR market are Cerner Corporation (US), Epic Systems Corporation (US), athenahealth, Inc. (US), eClinicalWorks (US), Allscripts Healthcare Solutions, Inc. (US), Medical Information Technology, Inc. (US), MEDHOST (US), CPSI (US), and Intersystems Corporation (US).