EMR market pegged at $6B by 2015

By Healthcare IT News
10:20 AM

The U.S. electronic medical records market is poised to reach the $6 billion mark by 2015, according to new research from MarketsandMarkets, a global research and consulting firm.

The U.S. Electronic Medical Records (EMR) Market, 2010-2015 (Market Share, Winning Strategies and Adoption Trends) analyzes the EMR market by end users, components and applications, and studies the major market drivers, restraints, and opportunities.

A growth rate of more than 16 percent of the U.S. healthcare IT spending and the initiatives taken by government towards development of a nationwide healthcare information network are expected to push EMR implementation across the healthcare sector in the United States, according to the report. The rising demand for the healthcare cost containment and need to improve the quality of healthcare service are driving the growth of the EMR market, which is expected to grow from $2,177 million in 2009 to $6,054 million in 2015 at an estimated CAGR of 18.1 percent during the forecast period 2010-2015.

Though large-sized healthcare practices prefer on-site/client-server based EMR systems, web-based EMR solutions or ASP models are gaining higher popularity within the small-sized healthcare practices and private physician offices.

The U.S. EMR market space is highly fragmented with more than 1,000 players, the report notes.  In 2010, Allscripts emerged as a market leader with 15.7 percent market share in the physician office EMR market; whereas MEDITECH led the hospital EMR segment with an overall market share of 24.9 percent.

The report evaluates the U.S. EMR market with respect to its sub-segments on the basis of end users, components, and applications.

Each section will provide market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. The report will also provide market tables for covering the sub-segments and micro-markets, and it provides more than 20 company profiles covering all the sub-segments.

MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.

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