Medical Document Management Systems Market Scope
Nowadays, more and more government agencies, companies and healthcare organisations are moving from records on paper to electronic records. In healthcare organisations, document management systems are being used to capture, organize, maintain and retrieve patient’s medical records. Document management systems consists of a comprehensive database used to store and access patient’s healthcare information. The hospital document management use a computer system with a set of programs to track and store all the documents and directions related to the patient's welfare.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | McKesson Corporation (United States), 3M Company (United States), Siemens Medical Solutions USA, Inc. (United States), GE Healthcare (United States), Allscripts Healthcare Solutions, Inc. (United States), Toshiba Medical systems Corporation (Japan), Cerner Corporation (United States), Kofax Ltd. (United States), EPIC Systems (United States), Hyland Software (United States) and Nextgen Healthcare Information Systems, Llc (United States) |
CAGR | 11.8% |
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Medical Document Management Systems market throughout the predicted period.
McKesson Corporation (United States), 3M Company (United States), Siemens Medical Solutions USA, Inc. (United States), GE Healthcare (United States), Allscripts Healthcare Solutions, Inc. (United States), Toshiba Medical systems Corporation (Japan), Cerner Corporation (United States), Kofax Ltd. (United States), EPIC Systems (United States), Hyland Software (United States) and Nextgen Healthcare Information Systems, Llc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Ephesoft Inc. (United States) and Manorama Infosolutions Pvt. Ltd. (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Medical Document Management Systems market by Type , by Application (Patient Medical Records Management, Image Management, Admission and Registration Documents Management, Patient Billing Documents Management and Others) and Region with country level break-up.
On the basis of geography, the market of Medical Document Management Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On October 11, 2019 - 3M announced that it has completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners. and On October 15, 2019 - Allscripts Healthcare Solutions announced that Northwell Health has extended its engagement with the comprehensive Allscripts Sunrise inpatient platform through December 2027.
On December 9, 2019 - NextGen Healthcare, Inc., a leading provider of ambulatory-focused technology solutions, announced that it has completed the acquisition of Medfusion, Inc. (“Medfusion”) a patient experience platform leader.
Influencing Trend:
Technological Advancements in the Healthcare Industry
Market Growth Drivers:
Healthcare Reforms and Medical Records Retention Requirements and Increasing Adoption of Health Information Management System
Challenges:
Integration of Document Management Systems with Existing Systems in Healthcare
Restraints:
High Implementation Costs
Opportunities:
Rising Adoption of Digitalization & Automation in the Healthcare Industry and Growing Usage of Connected Medical Devices
Key Target Audience
Medical Document Management System Providers, Software Providers of Medical Document Management System, Healthcare Industry and Governmental Bodies