Ambulatory EHR Market to Reach $6 Billion by 2023: P&S Market Research

NEW YORK, Oct. 31, 2017 -- Ambulatory EHR market is forecasted to attain a value of $6.0 billion by 2023, growing at a CAGR of 5.9% during 2017-2023, according to the latest study published by P&S Market Research, the growth in the market will be led by increasing government initiatives for the adoption of EHR systems, rising adoption of healthcare intranet technologies (HCIT), rising usage of EHR solutions, and need to reduce the overall healthcare cost.

The two-different delivery modes for ambulatory EHR solutions are cloud based solutions and on-premise solutions, with the cloud based category being the larger contributor to the ambulatory EHR market. Cloud based solutions are also projected to register faster growth compared to on-premise solutions, during the forecast period. Among the various practice size, small-to-medium sized practices is expected to register the fastest growth during the forecast period, mainly due to increasing adoption of EHR solutions.

Ambulatory EHR finds application in practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. Among the various applications, e-prescribing is expected to witness the fastest growth in demand during the forecast period in the ambulatory EHR market. The increasing adoption of e-prescriptions because of the various government policies is the key factor driving the growth of e-prescribing. Hospital owned ambulatory centers were the larger end user in ambulatory EHR market due to increasing patient base and rising healthcare expenditure.

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Asia–Pacific is expected to be the fastest growing region in the global ambulatory EHR market due to aggressive investments by the governments, non-profit entities and the private sector in EHR systems, growing aging population, and rising incidence of chronic diseases in various countries, such as India and China.

Government of India has also introduced ‘The Digital India Healthcare’ initiative to introduce EHR and digitize healthcare in the country. In 2013, the Ministry of Health and Family Welfare notified EHR standards for India to make sure that patient digital data become portable and easily redeemable. To uplift the adoption of EHR, various category of standards such as Vocabulary Standards ((ICD10, ATC etc.), Content Exchange Standards (HL7, FHIR, CCR and DICOM), Clinical Standards and interoperability (to exchange the records between hospitals) parameters were inculcated in the documented polices.

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Globally, the key players in the ambulatory EHR market are launching new products to gain a larger market share. For instance, in June 2017, eClinicalWorks, a provider of healthcare IT solutions, launched a telehealth solution on the company’s Health & Online Wellness (HEALOW) mobile app to provide patients with live video visits.

Some of the other key players operating in the ambulatory EHR industry include General Electric Company, Cerner Corporation, Epic Systems Corporation, Mckesson Corporation, Quality Systems, Inc., eMDs Inc., Allscripts Healthcare Solutions, Inc., Greenway Health, LLC.

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