The acute care EHR slightly differ from the hospital and ambulatory EHR, generating patient information with all clinical details including the operating room, emergency department, ICU, and inpatient unit. Over the past decade, there has been a significant rise in the number of patients suffering from chronic diseases such as cancer, diabetes, heart disease, and stroke among others which are driving the acute care EHR market, increasing the number of caregiving facilities across the globe.
Recognizing the exponential growth, the market perceives currently and gauging the potential the market holds to grow in the years to come; Market Research Future (MRFR), in its recently published market forecast asserts that the global acute care EHR market will grow exponentially by 2023, registering approximately 7% CAGR during the forecast period (2017 – 2023).
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The global acute care EHR is majorly driven by the augmenting demand for the remote health monitoring for geriatric patients. Additionally, factors such as huge development in the Healthcare IT sector are fostering the market growth, helping in overcoming the issues occurring in the systems. These technological advancements have improved the quality of treatment and also helped in the healthcare maintenance.
Technological strides being made in electronic monitoring devices and substantial investments transpired into R&D activities are in turn, paying off well, expanding the market size. Furthermore, the emergence of the advanced healthcare software and adoption of advanced devices & technologies in the healthcare has boosted the growth of the market exponentially. On the other hand, high cost associated with the treatment is affecting the market growth, restricting the uptake of acute care EHR, especially in the developing regions. Simultaneously, the high cost of devices used in the EHR is expected to slow down the growth of the market.
The acute care EHR Market is segmented into four key dynamics for the convenience of understanding;
By Deployment : On-Premise Based, and Web-Based among others.
By Applications : Personal Care, and Pharmaceuticals among others.
By End-Users : Hospitals, and Ambulatory Care among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Globally, the North American region accounts for the leading market for Acute Care EHR with a significant market share followed by the markets in the European and Asia Pacific regions. North America has one of the best medical facilities around the globe with the high rate of patients’ arrival.
Countries such as the U.S. and Canada fall under the umbrella of developed countries and are technologically well advanced, therefore, hold the largest market share in the Acute Care EHR market in the region. Furthermore, increasing number of hospitals ambulatory centers, the presence of huge patient population and well-developed technology drives the market growth in the region. Huge funding from public and private sectors are fostering the market growth, making the cost of the devices used for the EHR affordable.
The European region has acquired the next largest market share in the global acute care EHR. Factors substantiating the market growth include the availability of funds, strong government support, and increasing demand for the better management devices & platform. Western European region, due to the presence of well-developed economies such as the U.K., Germany, and France holds a major share of the market in the region.
The resurging economy is making the high cost of treatment affordable increasing per capita income in this region. Additionally, considering the huge patient population, governments have started supporting the manufacturers for the development of new and better devices which in turn, is fostering the market growth in the region.
The Asia Pacific region has emerged as a lucrative market for the Acute Care EHR, growing with the market a significant rate of CAGR. The Asia Pacific together accounts for more than 41% of the global population, and most of the countries falling under the Asia Pacific region are in the developing phase. Developing countries have immense opportunities for the Acute Care EHR.
Some of the countries in the APAC such as China and India together hold more than 30% of the global population are said to be the biggest market for the Acute Care EHR products in the region. Factors such as the increasing number of patients suffering from chronic diseases and rapidly improving healthcare infrastructure are impacting the market growth in the region, positively. Moreover, the rapidly surging economy in the region is providing impetus to the market growth, increasing per capita healthcare expenditure.
Well-established players adorn the Acute Care EHR market as highly competitive. High investments are transpired in the market in order to develop next-generation healthcare IT solutions. The global Acute Care EHR market is witnessing fierce competition.
The global Acute Care EHR market is led by some of the fervent players including Allscript (U.S.), Cerner Corporation (Siemens) (U.S.), Healthland (U.S.), McKesson Corporation (U.S.), Medhost (U.S.), Evident (CPSI) (U.S.), Meditech (U.S.), Epic Systems Corporation (U.S.), Athenahealth (RazorInsights) (U.S.), IBM (U.S.), General Electric Company (U.S.), eClinicalWorks (U.S.), and Vitera Healthcare Solutions (U.S.).
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Industry, Innovation & Related News
September 24, 2018 – PointClickCare (US), a major electronic health record (EHR) provider announced entering into the strategic partnership with Bridge Connector (US), an integration platform as a service (iPaaS) company that delivers streamlined integration solutions for healthcare organizations. The partnership is aimed at strengthening the transferring of patient data across different systems.
Besides improving care coordination between acute and post-acute care facilities, partnering with Bridge Connector will help PointClickCare to drive better outcomes by maintaining full visibility of the patient journey, even after they have left the facility.
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