The global medical document management systems market reached a value of US$ 489.32 million in 2021. Looking forward, the market is projected to reach a value of US$ 997.83 million by 2027, exhibiting a CAGR of 12.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
A medical document management system (DMS) tracks, manages, and stores documents and aids in the reduction of paper usage. It assists in streamlining the billing process and coordinating the flow of information between laboratories and other departments. It enhances productivity by providing fast access to documents and allowing quick processing with minimum errors. As a result, medical DMS finds extensive applications in hospitals, clinics, nursing homes, and insurance agencies around the world.
There is presently a considerable rise in the number of patients visiting hospitals on account of the increasing prevalence of chronic diseases worldwide. This represents one of the key factors stimulating the growth of the market. Moreover, paper medical records can be easily misplaced or destroyed in a fire, flood, or natural disaster. Converting medical documents to a digital format helps develop a more efficient document workflow irrespective of the size of the project or the type of files being converted. Besides this, physically retrieving paper documents from archives and delivering them to different departments is time-consuming. However, using digitized medical DMS decreases retrieval time with no physical effort. This, in confluence with the rising automation and digitalization in the healthcare industry, is strengthening the growth of the market. Furthermore, there is an increase in the use of electronic health records (EHRs), which are real-time, patient-centered records that make information available instantly and securely to authorized users. These records include clinical data, such as demographics, progress notes, problems, medications, vital signs, past medical history, immunizations, laboratory data, and radiology reports. This, coupled with the rising adoption of health management information systems (HMIS), is impelling the growth of the market.
This report provides an analysis of the key trends in each sub-segment of the global medical document management systems market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product, mode of delivery, application and End-user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Cerner Corporation, Epic Systems Corporation, General Electric Company, Hyland Software Inc., Kofax Inc., McKesson Corporation, Nextgen Healthcare Inc., Siemens Aktiengesellschaft and Toshiba Corporation.
A medical document management system (DMS) tracks, manages, and stores documents and aids in the reduction of paper usage. It assists in streamlining the billing process and coordinating the flow of information between laboratories and other departments. It enhances productivity by providing fast access to documents and allowing quick processing with minimum errors. As a result, medical DMS finds extensive applications in hospitals, clinics, nursing homes, and insurance agencies around the world.
Medical Document Management Systems Market Trends
There is presently a considerable rise in the number of patients visiting hospitals on account of the increasing prevalence of chronic diseases worldwide. This represents one of the key factors stimulating the growth of the market. Moreover, paper medical records can be easily misplaced or destroyed in a fire, flood, or natural disaster. Converting medical documents to a digital format helps develop a more efficient document workflow irrespective of the size of the project or the type of files being converted. Besides this, physically retrieving paper documents from archives and delivering them to different departments is time-consuming. However, using digitized medical DMS decreases retrieval time with no physical effort. This, in confluence with the rising automation and digitalization in the healthcare industry, is strengthening the growth of the market. Furthermore, there is an increase in the use of electronic health records (EHRs), which are real-time, patient-centered records that make information available instantly and securely to authorized users. These records include clinical data, such as demographics, progress notes, problems, medications, vital signs, past medical history, immunizations, laboratory data, and radiology reports. This, coupled with the rising adoption of health management information systems (HMIS), is impelling the growth of the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global medical document management systems market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product, mode of delivery, application and End-user.
Breakup by Product:
- Solution
- Services
Breakup by Mode of Delivery:
- Web-based and Cloud-based
- On-premises
Breakup by Application:
- Patient Medical Records Management
- Admission and Registration Documents Management
- Patient Billing Documents Management
- Others
Breakup by End-user:
- Hospitals and Clinics
- Insurance Providers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Cerner Corporation, Epic Systems Corporation, General Electric Company, Hyland Software Inc., Kofax Inc., McKesson Corporation, Nextgen Healthcare Inc., Siemens Aktiengesellschaft and Toshiba Corporation.
Key Questions Answered in This Report
- How has the global medical document management systems market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global medical document management systems market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the mode of delivery?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global medical document management systems market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Medical Document Management Systems Market
What is the estimated value of the Global Medical Document Management Systems Market?
What is the growth rate of the Global Medical Document Management Systems Market?
What is the forecasted size of the Global Medical Document Management Systems Market?
Who are the key companies in the Global Medical Document Management Systems Market?
Report Attribute | Details |
---|---|
No. of Pages | 145 |
Published | April 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 489.32 Million |
Forecasted Market Value ( USD | $ 997.83 Million |
Compound Annual Growth Rate | 12.6% |
Regions Covered | Global |
No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Medical Document Management Systems Market
6 Market Breakup by Product
7 Market Breakup by Mode of Delivery
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 3M Company
- Allscripts Healthcare Solutions Inc.
- Athenahealth Inc.
- Cerner Corporation
- Epic Systems Corporation
- General Electric Company
- Hyland Software Inc.
- Kofax Inc.
- McKesson Corporation
- Nextgen Healthcare Inc.
- Siemens Aktiengesellschaft
- Toshiba Corporation
Methodology
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