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The size of the global electronic health record market is expected to grow from $31.78 billion in 2021 y $34.3 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global market share of electronic health records is expected to grow to $44.18 billion in 2026 at a CAGR of 6.5%.
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Disease surge: A driving factor for the electronic health record market
The rise in healthcare diseases globally is expected to spur the growth of the electronic health record market over the forecast period. Health diseases are increasing due to climate change, rapid urbanization, changing land use patterns, infections, heredity and other reasons. The increasing prevalence of diseases will lead to an increase in the number of patients, supporting the demand for medical record keeping, including electronic health records. Due to the ever increasing burden of healthcare documents and information, an effective record keeping tool will be needed, making the electronic health record one of the most effective and efficient tools for storing, accessing, retrieving and protecting patient medical records, helping even in preventive care.
Electronic Health Record Market Trends: Growing Acceptance of Telehealth
North America it was the largest region in the electronic health record market and it was worth $12,417.39 million in 2021. The Electronic Health Record Market in North America is supported by the presence of a large, well-established and technologically advanced healthcare industry in countries such as the United States of America And Canada. In 2021, of North America health services market was valued at $2.8 trillion.
Data security issues will hold back the market for electronic health records
According to the Electronic Health Record Market Research, data security issues and challenges related to EMRs are expected to hamper the growth of the Electronic Health Record market during the forecast period. Electronic health records are associated with several privacy and security concerns, such as patient data and safety. Additionally, cybercrime is on the rise globally, which presents a significant challenge for electronic health records. Cybercrime is on the rise due to increasing automation, rapid internet usage, remote working and others. The vulnerability of electronic health records on the Internet will increase the risks associated with the use of electronic health records.
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