The Global Latin America Electronic Health Recordss Market is projected to grow at a CAGR of around 8.12% during the forecast period, i.e., 2022-27. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
owing to the benefits of EHR, such as storing patients’ medical history, diagnosis, immunization dates, laboratory test results, etc., on a digital platform. Further, overcoming traditional healthcare challenges like concerns about keeping patients' previous medical records on paper has fuelled the demand for electronic health records in healthcare units, such as hospitals, clinics, laboratories, etc., assisting in the better treatment of patients in the future.
Furthermore, the region experiences a growing elderly population with several diseases such as cardiovascular diseases in the countries such as Mexico, Brazil, Chile, etc. Hence, this has boosted the need for modernized healthcare platforms, such as the digitization of patients' medical records, along with the implementation of advanced healthcare information systems to store bulk data generated in the region. Hence, these factors would act as a catalyst for the market growth of EHR in the forthcoming years.
Besides, the surging regulations by the governments of Mexico, Bolivia, Brazil, Colombia, etc., as well as a large number of investments to support the digitalization of healthcare units, are further expected to drive the market for electronic health records in Latin.
In 2021, Brazilian healthcare start-up Pipo Saude raised USD20 million to promote digital healthcare in the country.
Exploring the Market Dynamics: What’s Driving the Growth of Latin America Electronic Health Records Market?
The Growing Government Support to Digitalize Healthcare Units: The government support for upgrading electronic health record services has increased via continuous investment for its expansion & digitalization of the healthcare industry. The framing of guidelines for the computerization of health records, application of 5G, cloud expansion, and others have also driven the demand for EHR in the region. Furthermore, digitization has been the initial development towards the modernization of the record system as a result of a resolution by the Federal Council of Medicine (CFM) in Brazil.
Moreover, the EHR system helps the government in making health strategies & policies related to chronic diseases or pandemics for the citizens. Besides, electronic digitization has replaced obsolete paper notes to provide security & safety to patient data. Thus, the government of countries such as Brazil, Chile, Argentina, and others has been investing extensively for improvement in the Electronic health record system to provide more security & accessibility. For instance:
In 2020, the Government of Brazil invested more than USD432 million for the computerization of around 15,000 health teams that are serving primary healthcare (PHC) services. The investment would support the implementation of electronic medical records in health centers, facilitating the follow-up of patients seeking care in these services.
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Key Takeaways from the Market Study:
· Historical Data: 2017-20
· Base Year: 2021
· Forecast Period: 2022-27
· CAGR (2022-2027): 8.12%
· Key Players to Watch: Mural Med, Allscripts Healthcare Solutions Inc., GE Healthcare, Cerner Corporation, Epic Systems Corporation, Greenway Health, McKesson Corporation, Modernizing Medicine, NextGen Healthcare, AdvancedMD, CureMD are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Market Segmentation of Latin America Electronic Health Records Industry
The Latin America Electronic Health Records market is segmented as follows:
- By Deployment
- On-premise
- Cloud
- By Function
- Patient Management
- E-prescription
- Schedule Appointments
- Bill Payment
- Others (Referral Management, etc.)
According to report , the rechargeable segment holds a larger share of the Global Latin America Electronic Health Records Market mainly due to their lower costs.
· By End Users
· Hospitals
· Clinics
· Specialty Centres
· Labs
According to reports, offline retail holds the largest market share.
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Latin America Electronic Health Records Market Geographical Analysis
Mexico
Brazil
Argentina
Colombia
Chile
Rest of Latin America
According to reports, Latin America holds a prominent share of the Latin America Electronic Health Records Market
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