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Medical Document Management Systems Market Segmented By on-premise, cloud-based, and web-based delivery mode with solution and services product
The value of the global medical document management systems market is US$ 1 Bn in 2022 and is likely to reach US$ 2.7 Bn by 2032. The compound annual growth rate of the industry is predicted to be 10.4% through 2032.
| Report Attribute | Details |
|---|---|
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Medical Document Management Systems Market Size (2022) |
US$ 1 Bn |
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Projected Market Value (2032F) |
US$ 2.7 Bn |
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Market Growth Rate (2022-2032) |
10.4% CAGR |
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Leading Regional Market |
North America |
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“Increased Government Initiatives for Implementation of Healthcare IT Technologies”
At present, many government organizations around the world are taking initiatives to implement various IT technologies in the healthcare industry. In addition, the rising count of hospitalization cases across the world is also predicted to serve as a significant factor to bolster the demand opportunities in the market with the growing need to maintain accurate patient data.
“Increasing Mergers & Acquisitions among Healthcare IT Companies”
Healthcare IT companies that are operating across the world are increasing their involvement in several growth strategies. For instance, mergers and acquisitions are being used at an increased rate by these companies to expand their footprint on a global scale.
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The lack of healthcare IT professionals, especially in developing regions, is estimated to restrict growth avenues in the market. In addition, increased concerns related to security and data privacy in document management systems are likely to limit expansion avenues in the industry. Growing incidence related to data security breaches is also expected to restrict market growth impetuses over the coming years.
Major companies operating in this market are 3M Company, McKesson Corporation, Siemens AG, Hyland Software, Inc., Epic Systems Corporation, Kofax Limited, Toshiba Medical Systems Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., and GE Healthcare.
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“Improved Healthcare Infrastructure in North America Drives Avenues”
Based on geography, North America is anticipated to dominate the global industry of medical document management systems. The dominating position of the region is attributed to increased government funding for healthcare facilities. Further, the presence of improved healthcare infrastructure is also contributing to the growth of this regional market.
Technological advancements taking place in document management systems are also fueling growth in the North American regional market. At present, there is a rapid increase in the adoption of EHRs (Electronic Health Records) for healthcare practices to provide better solutions that are contributing to growth opportunities in the industry.
The South Asia and Pacific and East Asia markets are likely to grow at a rapid pace as compared to other regional markets. This is owing to an increased number of initiatives that are undertaken by regional governments to implement IT technologies in the healthcare industry. Moreover, rising pressure on healthcare organizations by regional governments for the improvement of quality care and minimizing the cost of healthcare is also contributing to growth in the Asian market. Japan, China, and India are predicted to serve as the fastest-growing countries in the Asian market.
Medical document management systems eliminate paper-based processes in health care organizations. These systems manage patient information and allow clinicians and administrators to make well-informed decisions in treatment and hospitalization procedures. In addition, medical document management systems help health care organizations to automate admission forms, insurance cards, insurance claims, invoices, and laboratory results.
The global medical document management systems market is categorized based on various types of delivery modes, products, applications, and end users. Based on the type of delivery mode, the report covers on-premise, cloud-based, and web-based delivery modes. Based on the product, the report covers medical document management solutions and services. The solution segment is further sub-segmented into standalone solutions and integrated solutions. Standalone solutions include electronic document management software and document scanning software. The integrated solution segment accounts for the largest market share in the medical document management systems market.
The service segment is further sub-segmented into medical record planning and management services and support services. The major support services in the market include training and education services, implementation and integration services, and maintenance and optimization services. Based on the application, the report covers patient billing document management, patient medical record management, and admission and registration document management. The end user segment is further sub-segmented into hospitals and clinics, government organizations and Third Party Administrators (TPAs), nursing homes, and other health care organizations.
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Details |
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Forecast period |
2022-2032 |
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Historical data available for |
2017-2021 |
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Market analysis |
USD million for Value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report Coverage |
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Customization & pricing |
Available upon request |
By Delivery Mode:
By Product:
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By Region:
The global medical document management systems market is set to expand at a CAGR of 10.4% through 2032.
The market for medical document management systems is valued at US$ 1 Bn in 2022.
The market is estimated to reach a valuation of US$ 2.7 Bn by the end of 2032.
North America leads the global medical document management systems market with the highest share.
