NEW YORK, Jan. 24 /PRNewswire/ — With the ability to make healthcare workflows more efficient, reduce costs, and improve the quality of patient care, the advent of Electronic Medical Records (EMR) is swiftly taking this technological wonder from a $1 billion market in 2005 to more than $4 billion by 2015, according to EMR Technologies in Healthcare, a new study from market research firm Kalorama Information.Nearly a 400% increase over an eight year period, the report reveals double-digit growth projections which begin to escalate significantly as electronic healthcare modalities enter the next decade. With hospitals, physician’s offices, and other healthcare entities increasing their IT budgets to include wireless technology applications — with many focusing on EMR adoption — the stage is set for a market surge.
Among segments within the healthcare industry, the physicians market for EMR is expected to witness the maximum growth as the vast customer base of this segment presents a huge potential market. While cost is currently a key deciding factor for most healthcare sectors — a typical EMR infrastructure requires workstations, servers, PDAs, tablet PCs, computer on wheels, and other networking hardware as well as software — the eventual reduction in costs is expected to expedite the adoption of EMR systems in the next several years.
“The potential not only in the U.S., but globally as well, is enormous, making EMR an exceptional opportunity not only for the current market players but for new entrants into the market,” notes Steven Heffner, the publisher at Kalorama Information. “This is one area of healthcare where regulations such as HIPPA and various other government initiatives will actually help drive adoption of this advanced technology.”
Including extensive hospital IT budget data and over 100 figures and tables, EMR Technologies in Healthcare provides the most comprehensive EMR market analysis available. It profiles key market players and technology innovators, looks at current products and new products on the horizon, and provides extensive insights into the business and regulatory issues catapulting this market from pipedream to reality. It can be purchased directly from Kalorama Information by visiting http://www.kaloramainformation.com or it is also available at MarketResearch.com.