LONDON, November 24, 2022 /PRNewswire/ — The adoption of natural language processing (NLP) is gaining popularity in electronic medical records market trends. NLP creates machines that can understand text or spoken input and react to it like people do when responding with their own text or speech. NLP techniques are used in EHRs to capture unstructured data, analyze grammatical structure, determine meaning, and summarize data. Therefore, NLP approaches can reduce costs, while thoroughly extracting large amounts of data analysis information.
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The Global Electronic Medical Records Market Size is Expected to Grow from $31.78 billion in 2021 for $34.3 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The Global Electronic Medical Records Market Share is Expected to Reach $44.18 billion in 2026 at a CAGR of 6.5%.
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Rise in Diseases – A Major Driver for the Electronic Medical Records Market
Rising healthcare diseases across the world are expected to propel the growth of the electronic medical records market over the forecast period. Health-related diseases are increasing due to climate change, rapid urbanization, changing land use patterns, infections, heredity and other reasons. The increasing prevalence of diseases will lead to an increase in the number of patients, which will support the demand for medical record keeping, including EMRs. Due to the ever-increasing loads of healthcare documents and information, there will be a need for an effective tool to maintain records, making the electronic medical record one of the most efficient and effective tools to store, access, retrieve and protect patient health records. , while helping with preventive care.
Electronic Medical Records Market Trends – Growing Acceptance of Telemedicine
North America was the largest region in the electronic medical records market and was worth $12,417.39 million in 2021. The electronic medical records market in North America is supported by the presence of a large, well-established and technologically advanced healthcare industry in countries such as UNITED STATES and Canada. In 2021, North America the health services market was valued at $2.8 trillion.
Data Security Concerns Will Limit Electronic Medical Records Market
According to the Electronic Medical Records Market research, data security issues and EMR challenges are expected to hamper the growth of the Electronic Medical Records market over the forecast period. Electronic medical records are associated with several privacy and security issues, such as data and patient safety. Additionally, cybercrime is increasing globally, posing a significant challenge to electronic medical records. Cybercrime is increasing due to increasing automation, fast internet usage, remote working and others. The vulnerability of electronic records on the Internet will increase the risks associated with the use of electronic medical records.
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