Ambulatory Electronic Medical Records Global Market Report 2024

Ambulatory electronic medical records refer to the digital collection of medical information about a patient in an outpatient setting. This electronic medical record encompasses details about a patient's health history, including diagnoses, medications, tests, allergies, immunizations, and treatment plans.

The main components of ambulatory electronic medical records include hardware and software. Hardware refers to the physical components of an analog or digital computer. Various types of practices, such as large practices, small-to-medium-sized practices, and solo practices, freestanding or integrated, utilize ambulatory electronic medical records. These records are delivered through different modes, including cloud-based and on-premise solutions. Applications of ambulatory electronic medical records include practice management, patient management, e-prescribing, referral management, population health management, decision support, and health analytics. End-users include hospital-owned ambulatory centers and independent centers.

The ambulatory electronic medical records market research report is one of a series of new reports that provides ambulatory electronic medical records market statistics, including ambulatory electronic medical records industry global market size, regional shares, competitors with an ambulatory electronic medical records market share, detailed ambulatory electronic medical records market segments, ambulatory electronic medical records market trends and opportunities, and any further data you may need to thrive in the ambulatory electronic medical records industry. This ambulatory electronic medical records market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ambulatory electronic medical records market size has grown strongly in recent years. It will grow from $6.96 billion in 2023 to $7.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to factors such as government initiatives, the increase in chronic diseases, improvements in patient care, the rise in population health management, and overall economic growth.

The ambulatory electronic medical records market size is expected to see strong growth in the next few years. It will grow to $10.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The anticipated growth in the forecast period can be attributed to factors such as the increasing adoption of telehealth, global expansion of healthcare services, a rise in patient engagement, emphasis on data security and privacy, and the overall growth in healthcare expenditure. Key trends expected in this forecast period include the prevalence of cloud-based solutions, the integration of artificial intelligence (AI) in healthcare systems, a focus on user experience (UX) design, the integration of genomic data, and the development of patient portals.

The growing prevalence of chronic diseases is anticipated to significantly boost the demand for ambulatory electronic medical records in the healthcare sector. Chronic diseases, which persist for extended periods, necessitate ongoing medical attention and monitoring. As a result, ambulatory healthcare services are increasingly relying on electronic medical records to efficiently manage patient data. For example, in 2020-21, The Treasury reported that nearly half of Australians across all age groups (46.6%) had one or more chronic conditions, with approximately 18.6% having two or more chronic conditions. This underscores the escalating need for ambulatory electronic medical records to cater to such health conditions, driving their increased utilization.

The surge in the adoption of Electronic Health Record (EHR) systems is poised to fuel the expansion of the ambulatory electronic medical records market. EHRs are digital versions of patients' medical charts, containing their comprehensive medical history, diagnoses, medications, treatment plans, and more. These systems enable the seamless exchange of patient data among various healthcare providers and settings. Their widespread adoption is particularly evident in ambulatory care, where patients often engage with multiple healthcare providers. According to HealthIT.gov's data from 2021, nearly all non-federal acute care hospitals (96%) and around 78% of office-based physicians had integrated certified EHRs. Additionally, a high percentage of non-federal general acute care hospitals had implemented certified electronic health records (EHRs), signifying the momentum toward adopting such systems for effective patient management and healthcare delivery.

Technological advancements represent a pivotal trend gaining traction within the ambulatory electronic medical records sector. Companies in this field are actively developing novel technological solutions to bolster their market position. For instance, Cerner Corporation, a prominent US-based health information technology company, introduced CommunityWorksSM Foundations - a cloud-based variant of the Cerner Millennium electronic health record. This technology was specifically designed to assist critical access and rural hospitals across the United States by alleviating financial burdens. CommunityWorksSM Foundations offers a fixed-fee payment structure without substantial upfront capital investment, allowing for reduced costs and quicker implementation. Its purpose is to streamline the implementation process, providing a six-month kick-off to go-live timeline, and ultimately facilitating small hospitals in serving their patients more efficiently.

Major corporations within the ambulatory electronic medical records sector are implementing cutting-edge technologies, exemplified by the eNautilus Project, to amplify their competitive edge and market potential. The eNautilus Project introduces advanced features for medicine administration, targeted support for oncology specialties, and refined clinical services. Functioning as a comprehensive cloud-based system, it consolidates patient records into a singular and portable health record that accompanies patients during interactions with various caregivers across different locations. As an illustration, in September 2023, Georgian Bay Information Network (GBIN), a collaboration among six Ontario healthcare organizations, in conjunction with Oracle Health's electronic health records (EHR), launched the eNautilus project in collaboration with Oracle Health. This initiative aims to integrate new EHR features from Oracle Health, significantly enhancing patient care.

In December 2022, CompuGroup Medical, a notable e-health company based in Germany, made a strategic acquisition by purchasing eMDs for $240 million. This acquisition is poised to leverage eMDs' ambulatory information systems and revenue cycle management expertise, consolidating CompuGroup's position in the ambulatory EHR sector. eMDs, a United States-based electronic health record developer specializing in ambulatory EHRs, provides a substantial addition to CompuGroup's operational and product portfolio, facilitating further growth and diversification in their offerings.

Major companies operating in the ambulatory electronic medical records market include Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare LLC, Medical Information Technology Inc., Computer Programs and Systems Inc., General Electric Company, Athenahealth Inc., MEDHOST Inc., eClinicalWorks LLC, NXGN Management LLC, InterSystems Corporation, CareCloud Inc., Cantata Health Solutions Inc., Advanced Data Systems Corporation, CureMD Healthcare Inc., Practice Fusion Inc., eMDs Inc., Virence Health Inc., McKesson Corporation, CPSI Inc., Veradigm Inc., Greenway Health LLC, DrChrono Inc., Eyefinity Inc., Amazing Charts LLC, Kareo Inc., iPatientCare LLC, Azalea Health Innovations Inc., Harris Healthcare Inc., ICANotes Inc.

North America was the largest region in the ambulatory electronic medical records market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ambulatory electronic medical records market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the ambulatory electronic medical records market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The ambulatory electronic medical record includes revenues earned by entities by providing medical workflow management, scanned and captured patient records, medical billing services, integrated documentation and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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