Global EHR solutions market to reach $30.3B by 2023: 4 key trends

The global EHR solutions market is expected to see solid growth through 2023, according to a Transparency Market Research report. The market, which was valued at $18.93 billion in 2014, is expected to reach an estimated value of $30.28 billion by 2023.

Here are four trends in the market:

1. The EHR solutions market is anticipated to grow at a compound annual growth rate of 5.4 percent from 2015 to 2023.

2. North America accounts for the largest market share. Major factors boosting market growth in North America include governmental funding encouraging the meaningful use of certified EHR technology across healthcare facilities and increasing healthcare cost containment pressure.

3. In Europe, the United Kingdom and Germany are major sectors in the market due to the increasing geriatric population and growing need for remote monitoring.

4. The Asia-Pacific region is also slated to witness rapid growth in the adoption and utilization of EHRs. However, lack of skilled professionals required to operate EHR systems and broadband connectivity are major restraints to market growth in this region.

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