Cloud-based Segment has the Largest Share of Installation Type in the South and Central America Electronic Health Record (EHR) Market during 2021–2028

According to a new market research study on “South and Central America Electronic Health Record (EHR) Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Installation Type, Type, and End User,” is expected to reach US$ 607.5 million by 2028 from US$ 458.6 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the South and Central America Electronic health record (EHR) market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing adoption of Electronic Health Records (EHRs), rising incentives by federal government and growing incidences of medication errors are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the concerns regarding data privacy.

The outbreak of COVID–19 has severely impacted the flow of medical services in the region. Also, the countries are popular for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, Colombia are affected by the second wave of corona infection. Among which Brazil has registered the majority of the deaths. Moreover, countries are significantly dependent on the US and European countries for their medical resources. Thus, the region's market has experienced a significant slowdown and is expected to face the same in the following two to three years.

The market for electronic health record (EHR) market is segmented into installation type, type, and end user. Based on installation type, the electronic health record (EHR) market is segmented cloud-based and on-premise. In 2020, cloud-based segment accounted for the largest share of the market. Cloud-based solutions are cost-effective as cloud computing reduces the cost of managing and maintaining your IT systems. Cloud-based EHR offers flexibility and allows the user to access the data from any place. Also, developments by market players in this segment are likely to enhance the growth of the segment. For instance, in July 2020, Cerner launched a cloud-based EHR platform, CommunityWorks Foundations, which aims at reducing the costs of traditional EHR systems in rural and Critical Access Hospitals.

Cerner Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, and Epic Systems Corporation. are among the leading companies in the South and Central America Electronic health record (EHR) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2019, iKnowMed, McKesson’s oncology practice electronic health record (EHR) system, has been named the top ranked EHR platform for oncologists and hematologists for the eighth year in a row by Black Book Research.

The report segments the South and Central America Electronic Health Record (EHR) market as follows:

By Installation Type

• Cloud-Based
• On-Premise

By Type

• Acute EHR
• Ambulatory EHR
• Post-Acute HER

By End User

• Hospitals
• Diagnostic and Imaging Centers
• Ambulatory Care Centers
• Pharmacies
• Other

By Country

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America