The global electronic health records (EHR) market is expected to grow at a CAGR of 5.4 percent from 2015 to 2023, to reach an estimated value of USD 30.28 billion by 2023. In the past, EHR adoption has been higher among medium to large-sized hospitals as compared to small-sized practices, primarily because hospitals have a larger budget than small-sized practices. However, from 2015 to 2023, the market for EHR systems used in small-sized practices is expected to witness significant growth rate predicts Transparency Market Research. Significant advantages associated with EHR systems and financial incentives by government of various countries are among the major factors driving the growth of EHR market worldwide.
Web-based EHR systems are popular among medical professionals as they reduce deployment costs. On the other hand, client-server-based EHR systems have up-front installation fees, which act as a major restraint among small and mid-size practices. The software-as-a-service (SaaS) segment is likely to grow at a rapid pace. SaaS is gaining higher preference among physicians as it eliminates technical glitches and offer low upfront costs.