The Latin American market for electronic health records is expected to grow at a CAGR of 5.12% from 2023 to 2028 and be worth USD 3.08 billion by 2028 from USD 2.40 billion in 2023.
EHRs are patient-centered, real-time records that make information available to authorized users quickly and securely. While an EHR system does contain a patient's medical and treatment history, it is designed to go beyond traditional clinical data collected in a provider's office to provide a more comprehensive perspective of a patient's care.
The measures of Latin American governments to encourage the use of healthcare IT is expected to showcase a favorable impact on the market growth. In the Latin American EHR market, the rise in the geriatric population, R&D in cloud storage technology, and an increase in the number of EHR service providers are expected to contribute to the growth of the EHR market in Latin America. Furthermore, due to increasing digitalization, there has been a constant increase in demand for electronic health records, supporting market expansion. Moreover, the market for electronic health records is expected to grow as the need for centralizing and streamlining healthcare administration grows.
Compared to small-scale ambulatory care centers, large-scale ambulatory care centers have higher adoption of electronic health records. Because the cost of installing electronic health records is higher in ambulatory care centers, and large-scale centers have easier access to money, they can also handle productivity, which is one of the primary restraints to the EHR market in the Latin American region. The lockdown has had a detrimental influence on key market competitors’ revenue since confident client purchasing choices and projects have been postponed to focus on treating patients, procuring crucial medical supplies, and managing their organizations during this crisis.
This research report on the Latin American EHR market has been segmented and sub-segmented into the following categories.
By Product:
By Type:
By End-User:
By Business Models:
By Country:
Geographically, the Latin American EHR market had a moderate share of the worldwide EHR market in 2022, with Mexico accounting for the most significant revenue share in electronic health records in this region. The Latin America Commission's market provides consumers and businesses with access to online services and goods throughout Latin America, thereby creating the necessary conditions for the digital network and related services, which is expected to maximize the country economy's growth potential. The availability of infrastructure with high digital literacy is one of the factors leading to the growth of policies that encourage the implementation of electronic health records on a regional level. In addition, the rising incidence of chronic and severe illnesses such as cancer, diabetes, skin infections, and orthopedic problems has resulted in a rise in the number of individuals seeking treatment at hospitals specialist facilities.
Healthcare providers in nations such as Mexico and Brazil rely on digital technologies to provide continuing care and improve the treatment process. The acceptance of EHR software in specialty centers will continue to expand in the future since it allows for a cost-effective way to manage patient health data.
KEY MARKET PLAYERS:
Cerner Corp., GE Healthcare, NextGen Healthcare, Inc., eClinicalWorks, Medical Information Technology, Inc., HMS, CPSI, AdvancedMD, Inc., DXC Technology Company, CureMD Healthcare, Greenway Health, LLC, Allscripts Healthcare, LLC, McKesson Corp., and Epic Systems Corp are some of the notable companies operating in the Latin American EHR market profiled in this report.
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