- New market research projects the ambulatory EHR market to reach $5.2 billion by 2012, a 5.8-percent growth rate.
The report details the major sources of growth in the market as well as limitations most likely to keep the industry from further expansion.
According to MarketsandMarkets, growth in the ambulatory EHR market is attributable in part to government support for advanced health IT adoption through federal incentive programs. Additionally, the increased use of EHR technology and need to reduce healthcare costs have encouraged more healthcare facilities to implement ambulatory EHRs.
“On the other hand, market growth in limited to a certain extend due to factors such as heavy infrastructure investments and the high cost of deployment,” wrote researchers.
The ambulatory EHR market is divided into cloud-based and on-premise solutions.
In 2016, cloud-based solutions accounted for the largest share of the market. EHR cloud-based models are effectively less expensive to implement and include the added benefit of the software-as-a-service (SaaS) model, which offers providers support across the spectrum of patient care.
With providers and stakeholders alike vying for more advanced health IT in hospitals, cloud-based technologies and other cutting-edge solutions are likely to continue gaining traction among providers.
The report also noted between practice management, patient management, e-prescribing, and a variety of other services, ambulatory EHR systems were used primarily for practice management in 2016.
“This growth can be attributed to the increasing adoption rate among healthcare providers, as they are shifting from pay-per-procedure billing to paying for value—that is, incentives for providing better care efficiently,” wrote researchers.
While ambulatory EHRs are becoming more common in small- and medium-sized practices with the introduction of more affordable, adaptable EHR product packages to the market, large hospitals still occupy the largest share of the global market.
Small- and medium-sized practices, however, are expected to catch up soon.
“The small to medium sized practices segment is estimated to register the highest growth rate primarily due to the funding provided by the regional extension centers (REC) to support to adoption of EHR among these users,” stated the report.
Dominant players in the ambulatory EHR market include Cerner, McKesson, Allscripts, Epic, and eClinicalWorks.
Similarly, the clinical decision support system (CDSS) market is expected to continue its upward trajectory over the next five years.
“The clinical decision support systems market is projected to reach $1,519.2 million by 2021 from $856.3 million in 2016, at a compound annual growth rate (CAGR) of 12.2 percent from 2016 to 2021,” stated the report.
In keeping with expectations set for ambulatory EHR market growth, CDSS market growth will increase the most in relation to its cloud-based solution offerings.
“The market for cloud-based solutions is expected to witness the highest growth rate, owing to the higher flexibility, scalability, and affordability offered by these solutions,” wrote researchers. “The integrated CDSS segment is expected to account for the largest share of the market by product in 2016 and also witness the fastest growth during the forecast period.
EHR vendors including NextGen and Allscripts have been working to extend their health IT capabilities to include cloud-based technologies in an effort to keep pace with this provider demands for mobility, scalability, and flexibility.
“These solutions equip the healthcare providers with a large volume of relevant data and can be used to perform a wide variety of applications,” added researchers.
Therapeutic CDSS is expected to be the most popular type of clinical decision support system in the coming years as compared to diagnostic systems.
In terms of model, knowledge-based CDSS will likely command the largest share of the global market and grow at the fastest rate.
“These systems have a built-in reference table, containing inbred information about different diseases, treatments, and other parameters which reduces clinical errors and aid in treatment planning,” wrote researchers.
Allscripts, Cerner Corporation, Epic Systems, and McKesson are among the top clinical decision support system providers in the industry this year.