The personal health record software market size is expected to see strong growth in the next few years. It will grow to $14.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing demand for centralizing and streamlining healthcare information, rising initiatives to promote patient-centric care, increasing awareness and adoption among consumers. Major trends in the forecast period include increasing government initiatives to promote patient-centric care, growing demand for centralizing and streamlining healthcare information, rising awareness among patients about medical information storage and management.
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Scope Of Personal Health Record Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Personal Health Record Software Market Overview
Market Drivers –
The growing demand for digital health solutions is expected to propel the growth of the personal health record software market going forward. Digital health solutions refer to the integration of technology and digital tools into healthcare delivery to improve efficiency, accessibility, quality of care, and patient outcomes. Personal health record software is used in digital health solutions to empower patients, improve care coordination, enhance clinical decision-making, and promote better health outcomes. For instance, in August 2022, according to a report published by the Australian Digital Health Agency, an Australia-based government agency, between 2020 and 2022, a total of 118.2 million telehealth services were provided to 18 million patients, with over 95,000 practitioners utilizing telehealth services during this period. Further, in February 2023, according to a survey of 7,980 U.S. adults by Rock Health, a US-based healthcare organization, telemedicine adoption had surged, with 80% of respondents accessing care remotely, up from 72% in 2021. Therefore, the rising demand for digital health solutions is driving the growth of the personal health record software market.
Market Trends –
Major companies operating in the personal health record software market are focusing on developments in AI advancement software, such as AWS HealthScribe, due to the significant benefits of AI integration in healthcare software solutions. AWS HealthScribe is a new generative AI-powered service that automatically creates clinical documentation from patient-clinician conversations. For instance, in July 2023, Amazon Web Services, a US-based cloud solutions provider, launched AWS HealthScribe, a new generative AI-powered service that automatically creates clinical documentation. It is a HIPAA-eligible service designed to help healthcare software providers build clinical applications that use speech recognition and generative AI to create preliminary clinical notes from doctor-patient discussions. The service is aimed at accelerating clinical documentation, enhancing consultation efficiency, and boosting medical scribe workflow efficiency. Additionally, these features are designed to help healthcare software vendors build clinical applications that use speech recognition and generative AI to create preliminary clinical notes, thereby enhancing consultation efficiency and boosting medical scribe workflow efficiency.
The personal health record software market covered in this report is segmented –
1) By Component: Software And Mobile Applications, Service
2) By Deployment: Cloud-Based, Web-Based
3) By Architecture: Payer-Tethered, Provider-Tethered, Standalone
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Regional Insights –
North America was the largest region in the personal health record software market in 2023. The regions covered in the personal health record software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
GE Healthcare, Cerner Corporation, Allscripts, eClinicalWorks, Athenahealth, NextGen Healthcare, Meditech, Greenway Health, CareCloud Inc., Kareo, Zapbuild, E-MDs Inc., SoftClinic Software, Practice Fusion Inc., AdvancedMD, Practice Fusion, HealthFusion, CureMD, Epic Systems Corporation, NoMoreClipboard, Amazing Charts, Validic Inc., Health Companion, Patient Ally, Healthspek, 75Health (Kaaspro), Knapsack Health, Records For Living Inc., DrChrono, ChARM Health
Table of Contents
1. Executive Summary
2. Personal Health Record Software Market Report Structure
3. Personal Health Record Software Market Trends And Strategies
4. Personal Health Record Software Market – Macro Economic Scenario
5. Personal Health Record Software Market Size And Growth
…..
27. Personal Health Record Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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