Market Trends of India EMR (Electronic Medical Records) Industry
The Cloud-based Segment is Expected to Hold Significant Market Share During the Forecast Period
Cloud-based EMR offers easy retrieval and analysis of clinical data for research, staff access management, data migration from existing EMR systems, customizable templates, medical calculators, dental and vaccination charts, and real-time revenue tracking over the internet, which does not require physical deployment of computing instruments or devices, such as servers and storage units, the healthcare providers on their premises. This is the biggest advantage of cloud-based information systems. The rising technological advancements in the cloud-based EMR are expected to increase its accessibility and affordability in the country, which will drive the market during the forecast period. For instance, in August 2022, HealthPlix, an AI-powered EMR software company in India, reported the launch of a new feature, Drug to Drug Interaction’ (DDI), for HealthPlix’s interactive cloud-based EMR platform. This feature helps doctors recall molecule-to-molecule interactions at the time of care. The suggestive feature is designed for doctors in India and is targeted to decrease the time to write a prescription. Hence, such advancements in the cloud-based EMR software are expected to increase the adoption of EMR solutions in the country to improve patient treatment outcomes, driving the market during the forecast period. Also, the increasing strategic activities, such as the launch of cloud-based EMR solutions by key players, are expected to increase the accessibility of EMR solutions in the country, driving the market during the forecast period. For instance, in July 2022, MyHealthcare reported the launch of a general EMR in India. This technology enables doctors and clinicians to submit all medical information for a patient visit on a single screen. This cloud-based EMR solution increases the efficiency and accuracy of clinical documentation while simultaneously reducing the workload of the physicians. Hence, such strategic activities by the key players are expected to increase the accessibility of cloud-based EMR, driving the market during the forecast period. Thus, the increasing technological advancements in the cloud-based EMR software and growing strategic activities by key players, such as product launches, are expected to drive the market during the forecast period.
The Specialty EMR Segment is Expected to Have High Annual Growth Rate During the Forecast Period
Specialty EMR refers to electronic health record systems tailored to meet the specific needs of particular medical specialties such as cardiology, orthopedics, diabetes, or dermatology. The specialty is designed to streamline the workflows, enhance patient management, and support specialty-specific documentation.
The growth of this segment is being driven by several major factors, including strategic collaborations between Indian hospitals and developed national hospitals, the increasing number of multispecialty hospitals in the country, and the rising prevalence of chronic diseases such as diabetes and obesity. The growing collaboration between hospitals in India and developed nations to improve healthcare accessibility and patient outcomes is expected to increase the adoption of specialty EMRs in India, driving the market during the forecast period. For instance, in July 2024, Ramaiah Memorial Hospital (RMH), a multi-super-specialty quaternary care hospital based in Bengaluru, Karnataka, reported that it signed an exclusive agreement with the New York-based Mount Sinai Health System to advance healthcare services through collaborations in clinical excellence, quality of care, research, innovation, and healthcare IT technology such as specialty EMR. Mount Sinai Medical Center uses the Epic EMR system, a specialty EMR that improves the quality of care for patients with chronic diseases, especially hypertension, diabetes, asthma, and congestive heart failure. Through this collaboration, it is expected that RMH will adopt this technology to improve its patient outcomes in India. Hence, such cooperation between Indian and developed national hospitals is expected to increase the adoption of advanced specialty technologies, driving the market during the forecast period.
Also, the increasing number of multispecialty hospitals in the country increases the adoption of specialty EMR to improve efficiency, accuracy, and patient care in specialized hospitals, which will drive the market during the forecast period. For instance, in October 2023, Apollo Hospitals Group and Steel Authority of India (SAIL) reported the establishment of a 290-bed multispecialty hospital in Rourkela, India, which will benefit over 70 lakh people in the Western Odisha region. Hence, such establishments of new specialty hospitals are expected to increase the adoption of specialty EMR and drive the market during the forecast period. Hence, the growing collaboration between Indian hospitals and developed nations' hospitals for improving patient outcomes and the rising establishment of new multispecialty hospitals in the country are expected to drive the market during the forecast period.
