NEW YORK, NY--(Marketwire - Oct 24, 2012) - Europe may provide opportunity for EMR software companies as European healthcare systems update their systems, according to Kalorama Information. The Healthcare market research publisher said that the European electronic medical records (EMR) market reached revenues of $6.8 billion in 2012. An established market in some countries and implementation issues in other countries have kept revenue growth at a modest rate of 3%, but that's expected to double in the coming years, according to Kalorama Information's new report, EMR in Europe.
The report identifies the opportunity for EMR companies in each European country. According to its findings, IT integration in Europe is varied depending on the country. Electronic medical records have been used for over 10 years in some countries such as the Nordic countries. However, in other countries such as the UK, Germany, France and Spain, EMR adoption is on course with the United States.
"Many of the EMR systems in various countries are outdated and not very efficient, creating an opportunity for new competitors," Kalorama analyst Mary Ann Crandall said. "Most EMR systems used in Europe are of local design but several companies are making inroads in this area."
Kalorama finds a fractured but growing market with a lack of pan-European players. Several factors are driving the European EMR market including a growing elderly population, rapid development of medical technology and cost. There is a strong drive to reduce avoidable medical errors, thus improving overall quality of care and facilitating the sharing of patient information. Also driving EMR adoption is the need to meet the legal requirements mandated by the health governing bodies within individual countries to improve security and privacy provisions, to comply with government funded policies and to increase organizational performance.
But there are also challenges that the report identifies. Key barriers to the adoption of EMRs in Europe include lack of funds, time, and cooperation of users, complexity of the systems and evaluation of need. These barriers differ from country to country but do create stumbling blocks for implementation. The report details how some companies have worked around these barriers in order to compete.
Kalorama Information's market research survey, EMR in Europe, details some of the ways that EMR firms can benefit from partnerships and marketing strategies in Europe, and examines EMR penetration and market opportunities for EMR in each country.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.