Growth Spike for Worldwide Electronic Medical Records Market

A substantial growth rate, exceeding more than 16% of global healthcare information technology spending, is expected to push Electronic Medical Records (EMR) development all over the globe.

MarketsandMarkets (Dallas, TX, USA) reports that the global EMR Market is expected to grow from US$4,355 million in 2009 to $9,957 million in 2015, at an estimated compound annual growth rate (CAGR) of 14.9%. The report also found that EMR is the major segment that is driving Healthcare Information Technology (HCIT) market growth, which is expected to exceed $25 billion in 2015.

Until 2010, client server based EMRs formed approximately 78% of the EMR software market; but cost issues are driving the adoption of world wide web (WWW) based EMR solutions, and this market is expected to grow at an compound annual growth rate (CAGR) of 21.4%, from 2010 to 2015, and to contribute 30% of the global EMR software market revenues by 2015. North America, which holds the largest share (59.4%) of the global EMR market, is thus a particularly lucrative market for EMR vendors, due to the increasing focus on adoption of EMR solutions across the healthcare industry and the development of a national health information network across the US.

Currently, the market players are undergoing consolidation to achieve marketing and distribution synergy and to develop an interoperable EMR solution; many companies have taken the route of agreements and partnerships to leverage technical expertise and achieve this objective. Lowering the cost of EMR implementation and a rising demand for healthcare cost containment is another burning issue within the industry. Industry participants with the most significant developments include Allscripts (Chicago, IL, USA), Cerner, McKesson (San Francisco, CA, USA), EMIS, and NextGen.

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