Electronic Medical Records Market in Europe

These are the latest findings of Frost and Sullivan (Palo Alto, CA, USA), an international consulting firm.

There is significant growth potential in EMR adoption rate and revenues in European hospitals, especially in the small and medium hospital segments where rates are presently the lowest. Due to deficiencies in administrative and record-keeping capacities, hospitals are under tremendous pressure to improve clinical practices; as inefficient trends permeate hospital management, the adoption of EMR solutions has become paramount. Designed to constantly report and monitor care pathways, EMRs reduce the number of data entry errors, inadequate prescriptions, and extraneous time spent on preparing charts by the nursing staff. Hospitals need to understand the return-on-investment in EMR and its long-term benefits, and should thus focus on cost-effective systems that provide greater value for money.

However, there are several challenges to the full implementation of EMRs. Hospitals across Europe have several forms of medical records, such as paper-based records, basic direct operating system (DOS) records, and Microsoft Access database management systems; the transition from these types of systems to the all-encompassing EMR is tedious and difficult. Market participants should focus on growth sectors, and those that can launch a product with a strong understanding of regional requirements and specifications, along with the right marketing mix, will be able to capture the market significantly.

"The fragmented nature of the market and budgetary constraints are factors affecting its wider adoption. Effective meetings to discuss end-user requirements and educate them on the capabilities of EMR systems will facilitate customer satisfaction, thereby stepping-up the customer base,” said Frost & Sullivan program manager Eramangalath Sujith.

The European EMR market earned revenues of U.S. $801.9 million in 2009, and Frost & Sullivan estimates this to reach $1,748.1 million by 2016, more than doubling itself despite the exorbitant annual maintenance costs of EMR systems.

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