The Business Research Company’s market reports offer an in-depth analysis on the market’s growth potential, major drivers, key trends and more.

Market Overview:

• 2023 to 2024 Growth:
  • Market size: $9.20 billion in 2023 to $10.14 billion in 2024.
  • CAGR: 10.3%.
• Historic Growth Drivers:
  • Market demand and supply dynamics.
  • Government initiatives.
  • Integration with traditional record-keeping.
  • Increased chronic disease management.
  • Consumer demand for accessible healthcare information.

Future Projections and Trends

2024 to 2028 Forecast:

• Expected Growth:
  • Market size: $10.14 billion in 2024 to $14.64 billion in 2028.
  • CAGR: 9.6%.
• Growth Drivers:
  • Centralizing and streamlining healthcare information.
  • Rising initiatives promoting patient-centric care.
  • Increasing consumer awareness and adoption.
• Major Trends:
  • Government initiatives for patient-centric care.
  • Growing demand for centralized healthcare information.
  • Rising patient awareness about medical information management.

Read More On The Personal Health Record Software Market Report 2024 – https://www.thebusinessresearchcompany.com/report/personal-health-record-software-global-market-report

Digital Health Solutions Fueling Market Growth

Integration of Digital Health:

• Impact on Market:
  • Empowers patients and improves care coordination.
  • Enhances clinical decision-making and health outcomes.
• Key Statistics:
  • Australian Digital Health Agency (2022): 118.2 million telehealth services provided to 18 million patients.
  • Rock Health Survey (2023): 80% of U.S. adults accessed care remotely, up from 72% in 2021.

Key Players in the Market

Major Companies:

• GE Healthcare
• Cerner Corporation
• Allscripts
• eClinicalWorks
• Athenahealth
• NextGen Healthcare
• Meditech
• Greenway Health
• CareCloud Inc.
• Kareo
• Zapbuild
• E-MDs Inc.
• SoftClinic Software
• Practice Fusion Inc.
• ChARM Health

AI Integration Transforming the Market

Advancements in AI:

• Key Developments:
  • Amazon Web Services (AWS) launched AWS HealthScribe in July 2023.
  • Uses generative AI to create clinical documentation from patient-clinician conversations.
  • Enhances consultation efficiency and boosts medical scribe workflow.
• Benefits of AI Integration:
  • Accelerates clinical documentation.
  • Improves consultation efficiency.
  • Helps healthcare software vendors build advanced clinical applications.

Thoma Bravo’s Strategic Acquisition of NextGen Healthcare

Significant Acquisition:

• Details:
  • Thoma Bravo acquired NextGen Healthcare in November 2023 for $1.8 billion.
• Expected Benefits:
  • Leverage Thoma Bravo’s expertise to accelerate NextGen’s leadership in healthcare solutions.
  • Focus on long-term growth and operational excellence.

Market Segmentation and Regional Insights

Market Segmentation:

• By Component:
  • Software and Mobile Applications
  • Service
• By Deployment:
  • Cloud-Based
  • Web-Based
• By Architecture:
  • Payer-Tethered
  • Provider-Tethered
  • Standalone

Regional Insights:

• 2023 Leading Region:
  • North America was the largest region in the personal health record software market.

The personal health record software market is set for significant growth, driven by technological advancements, increasing consumer demand, and strategic initiatives by key players and government bodies. The integration of AI and digital health solutions will further revolutionize the market, making healthcare more accessible, efficient, and patient-centric.

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