EHR market nears $32B, expected to top $40B by 2022
The electronic health records (EHR) market is expected to be a nearly $40 billion industry by 2022.
According to a report by Kalorama Information, the EHR market is currently $31.5 billion, and it's expected to rise to $39.7 billion by 2022.
The market is expected to grow at a "compound average rate of 6 percent per year" through 2022, according to the report.
"Growth is fueled by conversions of remaining hospital systems, upgrades on existing customers, new services and vendor switches at global hospitals," a press release stated.
The report lists the Cerner, Epic, Allscripts and athenahealth as the top major hospitals and health system technology providers.
Epic, Cerner, athenahealth, Allscripts and MEDITECH were listed as the top companies that provide electronic health record systems for smaller hospitals.
Cerner, Allscripts Healthcare Solutions and Epic were listed as the top practice management system acquirers.
Danielle covers Clinical Innovation & Technology as a senior news writer for TriMed Media. Previously, she worked as a news reporter in northeast Missouri and earned a journalism degree from the University of Illinois at Urbana-Champaign. She's also a huge fan of the Chicago Cubs, Bears and Bulls.