The global addressable market1 for electronic medical records (EMR) and electronic health records (EHR)2 is projected to grow at a slower pace in the next two years than previously realized, reflecting the ongoing need to improve the quality of patient care while managing cost pressures.
Restrained by a maturing market in the US and parts of the international community that are still in economic recovery, growth has and may continue to remain slow. As such, innovative solutions will be crucial to thrive in an increasingly competitive environment with changing needs. Governments and health systems will be better equipped to make a transformational leap forward toward the next wave of EMR/EHR needs if IT vendors embrace interoperability, mobile, cloud and big data.
Accenture research estimates that the size of the global EMR/EHR addressable market will grow at an annual rate of 5.5 percent (CAGR) between 2012 and 2015. Accenture forecasts that the global market will increase from $18.8 billion (USD) in 2012 to $22.3 billion by the end of 2015.This represents a slowdown from the growth rates previously forecasted by Accenture, which were as high as 9 percent in some markets.3
1 Addressable Market defined as hospital providers (all sizes) and IT Services for business (Consulting, Implementation, Business Process Outsourcing, IT Outsourcing)
2 Electronic medical records (EMRs) are defined as patient treatment records, including a patient’s background information and history of patient care, maintained within a hospital or clinic. Electronic health records (EHRs) are defined as patient health records that include clinical data and information from multiple sources and that are maintained outside of a single hospital or clinic.
3 Accenture Research, Overview of International EMR/EHR Markets, 2010