Wireless Electronic Health Records Market Size, Share, Growth, and Global Industry Analysis, By Type (3G/Commercial Cellular, Radio Frequency Identification (RFID), Wimax, Zigbee, Wireless LANS, Satellite, Sensors, and Bluetooth), By Application (Administration, Nursing, Radiology, Lab, Clinicians, and Pharmacy), Regional Insights, and Forecast To 2031

WIRELESS ELECTRONIC HEALTH RECORDS MARKET REPORT OVERVIEW

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The global wireless electronic health records market size is expected to be USD 34510 million in 2022 and is projected to touch USD 128885.41 million by 2031, exhibiting a CAGR of 15.8% during the forecast period.

Wireless electronic health records are digitalized version of patient’s medical records and history. Growing interest in the usage of technology to improve the tracking of person’s medical history. They record patient’s health and medical records in real-time. The information is available instantly as it is stored in digital format. These records can be shared in different healthcare settings. It is being used to improve the quality of outcomes through care management programs.

The growth in the wireless electronic health records is driven by advancements in software technologies and healthcare sector. Introduction of artificial intelligence in developing Electronic Health Records (EHRs) software which is propelling the growth for the product. Introduction of technologically advanced healthcare services is anticipated to drive the demand for the market. The demand for EHRs was experienced immensely during the pandemic for managing and recording of patients’ data.  

COVID-19 Impact: Adoption of EHRs During Pandemic to Impel Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with wireless electronic health records experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the wireless electronic health records market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the global wireless electronic health records market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The demand for electronic health records was increased due to limits on physical interactions and social distancing norms. Electronic Health Records software manufacturers initiated the collaborations to develop COVID-19 dashboards. It helped in minimizing the errors in patient’s data and financial details as well. Telehealth became one of the mainstream alternatives during the pandemic to heighten data accessing through EHRs. The helped in creating demand during the pandemic and also created demand post pandemic.   

LATEST TRENDS

"Integration of Artificial Intelligence in EHR to Improve Market Progress"

One of the trends for global wireless electronic health records market is integration of artificial intelligence in EHR. Incorporation of AI has been helping physicians and specialists to diagnose patient’s condition. Various manufacturers have been focusing on incorporating AI by voice recognition capabilities. The technology can notify the doctor regarding patient’s health status and can start the treatment. Manufacturers have started implementing such technologies. The launch of artificial intelligence-based health records is expected to create string revenue growth. Such integration of artificial intelligence technology in EHR is likely to pose as a window of opportunity for market growth during the forecast period.

WIRELESS ELECTRONIC HEALTH RECORDS MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into up to 3G/commercial cellular, Bluetooth, Radio frequency identification (RFID), Satellites, sensors, Wimax, Wireless LANS, and Zigbee.

• By Application

Based on application; the market is divided into nursing, administration, lab, pharmacy, and radiology.

DRIVING FACTORS

"Growing Number of Chronic Diseases to Thrust Market Growth "

The global wireless electronic health records market is projected to expand owing to increasing number of patient seeking treatment for chronic diseases. This is expected to propel the development of effective data management systems for keeping health records. Rising instances of chronic and severe health disorders such as skin infections, cancer, diabetes, orthopedic conditions, and other health disorders. This has resulted in the number of patients and health professionals mainly rely on digital technologies and wireless EHRs. Such new technologies can help in enhancing the ongoing treatments and treatment processes. Such growing commercial applications is anticipated to provide profitable opportunities for the market.

"Demand for Telemedicine to Inflate Product Demand"

Mounting demand for wireless electronic health records is growing due to demand for telemedicine which is estimated to drive the product demand. Telemedicine is preferred by patients as it offers the virtual care options for them. Electronic health records is one of the primary technologies that have been are being used in telemedicine. Consumer wearables, augmented reality, and sensors are expected to enhance the demand for wireless electronic health records.  

RESTRAINING FACTORS

"High Costs of Implementation to Obstruct Market Growth"

There are a number of factors that can propel the growth of the wireless electronic health records market. Restraining factors such high costs associated with the implementation and maintenance of EHRs. Several healthcare structures in various countries have been facing difficulties in the adopting of wireless electronic health records. Such negative effects associated with the product are anticipated to restrict and limit the market growth.   

WIRELESS ELECTRONIC HEALTH RECORDS MARKET REGIONAL INSIGHTS

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"Growing Adoption of EHRs in North America to Boost Market Share"

North America holds the largest part of the global wireless electronic health records market share due to the adoption of EHRs and availability of health infrastructure. High rate of digital literacy in the region is expected to propel market growth. Rise in the number of key players that develop advanced technology for healthcare industry is projected to drive the market growth. Increasing digitalization in the healthcare sector along with encouraging government policies in the region is expected to create demand for the product in the region. Increasing private and public funding for EHRs to propel the demand for electronic health records.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

LIST OF TOP WIRELESS ELECTRONIC HEALTH RECORDS COMPANIES

• Abbott Laboratories (U.S.)
• Allscripts Healthcare Solutions Inc. (U.S.)
• Amd Global Telemedicine Inc. (U.S.)
• Cerner Corporation (U.S.)
• Fitbit Inc. (U.S.)
• GE Healthcare (U.S.)
• Honeywell International Inc. (U.S.)
• Johnson & Johnson Inc. (U.S.)
• Medtronic (Ireland)
• Philips Medical Systems (Netherlands)
• Roche Diagnostics Limited (Switzerland)
• St. Jude Medical (U.S.)
• Schiller AG (Switzerland)
• Second Opinion Telemedicine Solutions Inc. (U.S.)
• Siemens Healthcare (Germany)
• Welch Allyn (U.S.)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.