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Artificial Intelligence Is Fastest Growing Segment Fueling Growth Of Electronic Medical Records Market

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Leena Shedmake
Artificial Intelligence Is Fastest Growing Segment Fueling Growth Of Electronic Medical Records Market

Electronic Medical Records (EMRs) are digital versions of paper charts used by doctors, nurses, and other health care providers. EMRs contain the medical and treatment history of patients, as well as other health-related information. The use of EMRs can enhance healthcare quality and efficiency.

The global Electronic Medical Records Market is estimated to be valued at US$ 21237.73 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.



Market key trends:


Artificial intelligence (AI) is one of the key emerging trends in the electronic medical records market. AI-powered systems can analyze massive amounts of patient data, such as medical images, electronic health records, and personal health information, to discover patterns and predict outcomes. This allows clinicians to gain important insights that may help improve clinical workflows and patient outcomes. AI is being increasingly implemented in areas such as medical imaging analysis, diagnosis and treatment recommendations, and drug discovery. Several key players are focusing on offering AI-integrated solutions to gain a competitive edge in the market.



Segment Analysis



The global Electronic Medical Records market is segmented by product, component, delivery mode, type, and end user. By product, the service segment dominates the market as it allows users to store patient data on remote servers. By component, the software segment holds the largest share as it offers various functionalities like clinical documentation, revenue cycle management, and patient engagement.



Key Takeaways 



The global Electronic Medical Records Market Demand is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing demand for digitization and automation in the healthcare sector. The growing need to minimize medical errors and enhance patient outcomes is further boosting the adoption of EMR software.


Regional analysis


North America dominates the global Electronic Medical Records market and is expected to continue its dominance over the forecast period. This is attributed to rising healthcare IT spending and growing implementation of EHR incentive programs in the US. Asia Pacific is expected to witness the highest growth rate owing to increasing government initiatives to digitalize healthcare and rising medical tourism in the region.


Key players


Key players operating in the are GE Healthcare, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Computer Programs and System Inc., Medical Information Technology, Inc., Next Gen Healthcare Information Systems, LLC, and Greenway Health, LLC. GE Healthcare dominates the market due to its wide range of EMR solutions catering to various healthcare domains.

 

Explorer more information on this topic, Please visit - 

https://www.marketwebjournal.com/electronic-medical-records-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

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