Ambulatory EHR Market Size is Estimated to Reach USD 9.4 Billion by 2027

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Latest Study on “Ambulatory EHR Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.

The global Ambulatory EHR market size is expected to be worth around US$ 9.4 Billion by 2027, according to a new report by nova one advisor.

The global Ambulatory EHR market size was valued at US$ 6.2 Billion in 2020 and is anticipated to grow x1 of  7% during forecast period 2021 to 2027.

Overview of Ambulatory EHR Market Study

Ambulatory EHR market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

The key factors propelling the growth of the global ambulatory EHR market are government support for the adoption of EHR solutions, an increase in the COVID-19 patient volume, and the need to curtail healthcare costs. On the other hand, heavy infrastructure investments and the high cost of deployment are limiting the growth of the g  lobal ambulatory EHR market to a certain extent.

Ambulatory EHR Market Dynamics
Driver: Government support for the adoption of EHR solutions
The HCIT industry is widely regarded as one of the fastest-growing industries, which benefits largely from government regulations. EHRs are a central component of HCIT. Ambulatory EHRs are a digital version of outpatient medical history. They include information such as demographics, progress notes, medications, treatment plans, vital signs, past medical history, immunizations, laboratory data, and radiology reports. Ambulatory EHRs help in the easy exchange of healthcare information and communication among healthcare providers. The increasing adoption of EHR solutions, coupled with incentives and payment adjustments, is likely to drive the ambulatory EHR market during the forecast period.

Restraints: Heavy infrastructure investments and high cost of deployment
Presently, most healthcare providers do not have the required infrastructure (technology, data, and other resources) to manage complex healthcare cases. To implement ambulatory EHR solutions successfully, providers need to invest heavily in infrastructural development. In terms of IT infrastructure, investments are required for increasing data storage and processing capabilities. Finding the required investments to develop this infrastructure poses a serious challenge to the already-strained financial resources of healthcare providers. Additional investments would also be required to maintain this infrastructure.

Opportunities: Increasing demand for cloud-based ambulatory EHR solutions
The innovation of the cloud platform has offered new business capabilities and opportunities to healthcare enterprises across the globe. Cloud-based alternatives are widely preferred by providers as well as payers over on-premise solutions. The advantages of cloud-based platforms for healthcare enterprises include the better exchange of patient data, lower upfront costs, access on-demand capacity, simple implementation & scalability, and quick deployment.

Challenges: Interoperability issues
Heterogeneity in health information systems is one of the key challenges for the successful implementation and utilization of healthcare IT solutions. Many countries lack specific IT standards for data storage and exchange, which leads to interoperability issues. In this diverse environment, the need for interoperability and interoperability standards becomes critical. Due to the lack of defined standards, vendors also follow different data formats and standards that make it difficult to share real-time data with partner systems, thereby increasing the challenge for successful health information exchange.

The cloud-based solutions segment is projected to grow at the highest CAGR during the forecast period
Based on delivery mode, the hospital EHR market is segmented into on-premise and cloud-based solutions. In 2019, the cloud-based solutions segment accounted for the largest share of the ambulatory EHR market. The market is mainly driven by the advantages associated with cloud-based solutions, which include flexibility and cost reductions in healthcare delivery.

The large practices segment accounted for the largest share of the ambulatory EHR market in the year 2019.
On the basis of practice size, the global ambulatory EHR market has been segmented into large practices, small-to-medium-sized practices, and solo practices. The large practices segment commanded the largest share of the global ambulatory EHR market in 2019, owing to factors such as the availability of capital investments, the ability to handle productivity challenges that are created by new EHR adoption, and the ability to choose among vendors. However, small-to-medium-sized practices are projected to register the highest CAGR between 2020 and 2025, owing to factors such as extensive funding provided by the Regional Exchange Centers (REC) to support small-to-medium-sized practices in the adoption of EHR.

The Asia Pacific region is expected to show the highest growth rate during the forecast period.
Geographically, the global physitherapy market is segmented into North America, Europe, the Asia Pacific, and Rest of the World )RoW). Asia Pacific is expected to show the highest growth rate during the forecast period. Growth in this region can primarily be attributed to the investments and reforms to modernize China’s healthcare infrastructure; the digital healthcare scenario in India; Japan’s favorable outlook for HCIT; the One Singaporean, One Health Record initiative in Singapore; and the implementation of e-Health in Australia.

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COVID-19 Impact on Ambulatory EHR Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Ambulatory EHR market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Ambulatory EHR market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Ambulatory EHR market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Ambulatory EHR market include:

 Epic Systems Corporation (US), Cerner Corporation (US), Allscripts Healthcare Solutions (US), Medical Information Technology, Inc. (MEDITECH, US), CPSI (US), NextGen Healthcare Information Systems, LLC (US), eClinicalWorks (US), athenahealth, Inc. (US), Modernizing Medicine, Inc. (US), Medical Transcription Billing Corporation (MTBC, US), Amazing Charts, LLC (US), Greenway Health (US), eMDs, Inc. (US), NetSmart Technologies (US), and CureMD (US).

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Deployment mode

  • Cloud-based
  • On-premise

By Application

  • Practice Management
  • Patient Management
  • e-Prescribing
  • Referral Management
  • Population Health Management
  • Decision Support
  • Health Analytics

By Practice size

  • Large Practices
  • Small-to-Medium-sized Practices
  • Solo Practices

By End-User

  • Hospital-Owned Ambulatory Centers
  • Independent Centers

Why Buy this Report?

The purpose of Nova one advisor’s Ambulatory EHR market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Download This Full Research Report, Click Here@ https://www.novaoneadvisor.com/report/checkout/5415

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