Increasing Utilization of HCITs Boosting Ambulatory EHR Market Growth

A number of factors, such as the rising number of government initiatives to inspire the adoption of electric health record (EHR) systems, surging need for lowering the overall healthcare cost, and increasing utilization of healthcare information technologies (HCITs) across the world, are projected to boost the ambulatory EHR market at a CAGR of 5.9% in the forecast period (2017–2023). At this growth rate, the market is expected to reach $6.0 billion by 2023 from $4.0 billion in 2016.

Moreover, the rising number of government initiatives to increase the adoption of EHR systems is another key factor that drives the market growth. Hospitals and clinics are being encouraged by governments across the globe to convert their health data into the electronic format. For example, the U.S. government has taken several initiatives to encourage the adoption of EHR solutions in the country. The government approved the Health Information Technology for Economic and Clinical Health (HITECH) Act in 2009 to increase the utilization of the solutions, to improve and modernize the country’s healthcare system.

Globally, North America accounted for the largest share in the ambulatory EHR market in 2016. This is attributed to the rising number of government initiatives to promote the adoption of EHR solutions and the surging geriatric population in the region. The Asia-Pacific (APAC) market is projected to record the fastest growth during the foreseeable period due to the surging investments by government and private organizations for the development of EHR systems, increasing incidence of chronic cases, and growing geriatric population in the region.

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Thus, the rising number of government initiatives and increasing utilization of HCITs are expected to propel the growth of the market during the forecast period.

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