Dublin, May 06, 2024 (GLOBE NEWSWIRE) -- The "Pediatric Electronic Medical Record (EMR) Software Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global pediatric EMR software market has grown rapidly in recent years. It will grow from $3.43 billion in 2023 to $3.83 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The expansion observed in the historical period can be credited to the escalating number of medical records, which has stimulated the demand for pediatric EMR software. Additionally, the surge in medical records, the growing regulatory requirements for pediatric healthcare facilities, and the rising need for interoperable pediatric EMR solutions have all played significant roles in driving this growth.
The pediatric EMR software market is expected to see rapid growth in the next few years. It will grow to $5.92 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The projected growth in the forecast period can be ascribed to the increasing trend of digitalization, a heightened demand for pediatric EMR software in healthcare facilities, the widespread adoption of EMR software, and the growing prevalence of pediatric subspecialties. Key trends anticipated in the forecast period encompass technological advancements, customization tailored for pediatric specialties, the integration of telemedicine capabilities for pediatric consultations, advancements in pediatric pain management, and the implementation of technology for enhanced care coordination.
The pediatric electronic medical record (EMR) software market is anticipated to experience growth, propelled by the increasing volume of medical records. For example, as of September 2022, the Bureau of Labor Statistics, a US government agency, projects an 8% growth in employment for medical records specialists from 2022 to 2032, surpassing the average for all occupations. Consequently, the increasing number of medical records is a key driver for the pediatric EMR software market's growth.
Major players in the pediatric EMR software market are concentrating on incorporating advanced AI-based solutions into pediatric electronic medical records to enhance their competitive advantage. AI-based solutions within pediatric EMR systems contribute to improved clinical decision-making, individualized care delivery, efficiency, and outcomes for pediatric patients and their families. For instance, in December 2023, Pieces Technologies, a US-based healthcare artificial intelligence and technology company, introduced Children's Health, a clinical generative AI, at the North Texas Pediatric Health System. This technology seamlessly integrates with the pediatric health system's Epic electronic medical record, utilized by healthcare professionals for various purposes such as clinical handoffs, length of stay management, discharge barrier resolution, team communication, and multidisciplinary rounds. Pieces Technologies achieves an exceptionally low rate of major error by combining contextual modeling, collaborative and adversarial AI, human-in-the-loop supervision, and automated clinical rapid engineering.
In December 2021, Oracle Corporation, a US-based computer technology company, completed the acquisition of Cerner Corporation for $28.3 billion. This strategic move aims to revolutionize healthcare delivery by providing medical professionals with improved information systems to enhance patient outcomes and reduce administrative workloads. Leveraging Cerner's expertise, this acquisition positions Oracle to expand into healthcare and international markets, anticipating significant growth in the forthcoming years. Cerner Corporation, a US-based provider of pediatric EMR software, specializes in long-term care and skilled healthcare services.
North America was the largest region in the pediatric electronic medical record (EMR) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pediatric electronic medical record (EMR) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pediatric electronic medical record (EMR) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
Markets Covered:
1) By Type: Cloud Based; On Premises
2) By Components: Software Services; Consulting; Hardware
3) By Functionality: Clinical Documentation; Patient Management; Reporting and Analytics
4) By Application: Large Enterprise; Small and Medium-sized Enterprises (SMEs)
5) By End User: Hospitals; Diagnostic Centers; Other End Users
Key Companies Mentioned: Meta Platforms Inc.; Oracle Corporation; SAP SE; Cognizant Technology Solutions Corporation; Koninklijke Philips N.V.
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $3.83 Billion |
| Forecasted Market Value (USD) by 2028 | $5.92 Billion |
| Compound Annual Growth Rate | 11.5% |
A selection of companies mentioned in this report includes, but is not limited to:
- Meta Platforms Inc.
- Oracle Corporation
- SAP SE
- Cognizant Technology Solutions Corporation
- Koninklijke Philips N.V.
- Optum Inc.
- Goodwill Industries International
- Epic Systems Corporation
- Change Healthcare Inc.
- Infor Inc.
- eClinicalWorks
- Athenahealth Inc.
- Allscripts Healthcare Solutions Inc.
- NextGen Healthcare Inc.
- Meditech
- Computer Programs and Systems Inc.
- GroupOne Health Source Inc.
- Greenway Health LLC
- Bizmatics Inc.
- Kareo Inc.
- AdvancedMD Inc.
- Connexin Software Inc.
- Elinext Group
- Duchang Information Technology
- Kaaspro Enterprises
- MedicalMine Inc.
- JAG Products LLC
- AllegianceMD Software Inc.
For more information about this report visit https://www.researchandmarkets.com/r/swd7fe
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