EMR Market in Europe Expected to Double

Europe may provide the next opportunity for electronic medical record (EMR) software companies as healthcare systems update their systems. These are the latest findings of Kalorama Information (New York, NY, USA), an independent medical market research firm.

EMRs have been an established market in some countries for over 10 years in some countries such as the Nordic countries, while in others, such as the United Kingdom, Germany, France, and Spain, EMR adoption is on course with the United States; but even in those countries where the EMR market growth has been successful, systems are becoming outdated and need to be upgraded. A major obstacle to further adaptation is due to differences in legislation, healthcare organizational structure, and language barriers that have thwarting EMR companies attempting to develop a universal system.

These implementation issues have kept the overall European market revenue growth at a modest rate of 3%. But according to the Kalorama Information report, the growth rate is expected to double in the coming years. Several factors will drive this growth, including a growing elderly population, rapid development of medical technology, and cost. This is accompanied by is a strong drive to reduce avoidable medical errors, thus improving overall quality of care and facilitating the sharing of patient information.

Another factor driving EMR adoption is the need to meet the legal requirements mandated by the health governing bodies within individual countries to improve security and privacy provisions in order to comply with government-funded policies and to increase organizational performance. On the other hand, there are also challenges and barriers to the adoption of EMRs in Europe, including lack of funds, time, and cooperation of users, complexity of the systems, and evaluation of need. The European EMR market reached revenues of USD 6.8 billion in 2012.

“Many of the EMR systems in various countries are outdated and not very efficient, creating an opportunity for new competitors,” said Kalorama analyst Mary Ann Crandall. “Most EMR systems used in Europe are of local design but several companies are making inroads in this area.”

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