Wireless EHR market to hit $23.5 billion by 2018
The global market for wireless electronic health records is robust and expected to evolve in the next few years, according to the latest report from BBC Research.
The report, Wireless Electronic Health Records: Technologies and Global Markets predicts that the global market for wireless EHRs to grow to nearly $23.5 billion by 2018, with a five year compounded annual growth rate (CAGR) of 16.1 percent from 2013 through 2018. The report notes that wireless EHRs can streamline data and data storage options as well as provide "critical analytical data" inside and outside the traditional hospital setting.
While government initiatives are spurring the adoption of EHRs, they're also motivating efforts in related areas such as medical device connectivity, according to the report's authors.
"[R]ecent focus on meaningful EHR adoption across hospitals and a parallel growth with respect to mobile technologies have resulted in the evolution of the wireless EHR market," a BBC Research announcement says. "Wireless EHR devices provide freedom from a laboratory setting for monitoring purpose and also keep physicians well connected. ... Increasing R&D spending and technological advances, particularly in the area of mobile technologies, as well as intense interest from governmental and global public health institutions and hospital systems will drive tremendous growth in this market for foreseeable future."
The move to wireless EHRs may be part of the overall trend to implement EHRs and/or change systems. A recent report from Orem, Utah-based KLAS Research noted that many large hospitals still have no EHR or are running legacy systems that at some point may need to be replaced. Another report published in early 2013 found that many physicians who already have adopted EHRs are already considering switching from their existing EHR system.
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