Rockville (MD), August 13, 2018 — Kalorama Information estimated the market for electronic medical records at $31.5 billion in 2018. The firm expects the market to rise to $39.7 billion by 2022. The healthcare market research firm reports on the industry each year, and includes revenues for EMR/EHR systems, CPOE systems, and directly related services such as installation, training, servicing, and consulting which are key profit areas for companies. (It does not include PACS or hardware). The finding was based on its latest report, EMR 2018.
From 2018-2022 the market is expected to grow at a compound average rate of 6% per year. Growth is fueled by conversions of remaining hospital systems, upgrades on existing customers, new services and vendor switches at global hospitals.
Cerner and Epic lead the EMR market; however, there are still many opportunities for other companies and new entrants. There is still not a single system that is complete with true interoperability. The main drawback for smaller companies is the cost to enter the market with a certified product.
There are varied participants in the EMR realm. These consist of providers for hospitals and health systems, practice management systems, pharmacy services, and others. All of these entities have specific needs, which demand individualized offerings from providers. The following table identifies movers and shakers in the various categories, regardless of size. Each column represents a type of physician that is targeted. This list represents companies that have excelled in their products, service or both.
Because of the large size of the market, Kalorama divides the marketplace for EMR into several parts:
Hospitals and Health System Technology Providers
The companies operating in this segment essentially leverage hospital and health system relationships into ambulatory physician-based practices. These companies assist hospitals and clinics to automate their clinical processes by implementing applications, such as EMR. They also offer support to programs, such as hospital-physician linkage. Moreover, these companies can offer their expertise in linking laboratories with the EMR network. They also support the engagement of health systems with RHIOs.
The major companies in this domain are as follows:
Smaller hospitals have different needs from larger hospitals and they do not have the monetary resources to purchase large expensive EHR systems. However, there is a need. Major companies filling this need include:
PMS companies are large in number and they have been supporting numerous clients over a period. Since 2005, PMS acquirers have shown a lot of interest in acquiring EMR/PMS combinations, resulting in more effective clinical systems strategies. This strategy has also strengthened the vendor-customer relationship, driving more companies to follow a multi-market strategy.
The key companies in this domain include the following:
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama’s website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
Please link any media or news references to our reports or data to https://www.kaloramainformation.com/.
Questions?Contact a research specialist >
Live Chat Software