European Market for EMRs to Reach $688 Million by 2010

The European market for electronic medical records (EMRs) is forecast to reach U.S.$688 million by 2010, with enterprise EMT systems accounting for nearly 80% of this and primary care the remainder, according to a new report from Frost & Sullivan, an international market consulting firm (London, UK). Growth rates will peak in 2005 and 2006, at an average of 22.4%, due to enhanced EMR implementation in the German, French, and UK markets. These three countries are expected to account for the largest share of EMR revenues in 2010.

Misdiagnosis due to incomplete medical information and extended hospital stays caused by complications from adverse drug events (ADEs) have resulted in considerable financial losses for the European healthcare industry. As efforts are made to reduce errors and increase levels of patient safety, information technology (IT) solutions such as EMRs are emerging as enablers of high-quality, cost-effective healthcare.

Currently, the EMR industry in Europe is fragmented with several participants offering niche capabilities. This complicates efforts to achieve a consensus on industry standards for data communication and medical terminology. Diverse healthcare systems across Europe are aggravating the problem by their different payment protocols and use of clinical terminology, while instances of data not being transferable between healthcare providers, doctors, and payer organizations are likely to retard the efficacy of EMRs.
The potential of EMRs is likely to remain unrealized without continuity in data accessibility. True continuity is a critical long-term challenge and is not likely to be attained until standards are implemented for medical terminology, data exchange, and data security.

"One of the major initiatives that can make a big difference to growth in this industry is continued collaboration between vendors, providers, decision-makers, and the payers to work on developing and perfecting universally acceptable standards,” said industry analyst Siddharth Saha, of Frost & Sullivan.




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