The global medical document management systems market size reached US$ 551.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,111.7 Million by 2028, exhibiting a growth rate (CAGR) of 11.9% during 2023-2028.
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.
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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:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical document management systemsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our 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:
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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:
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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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Million
Segment Coverage
Product, Mode of Delivery, Application, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.
Customization Scope
10% Free Customization
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Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global medical document management systems market was valued at US$ 551.0 Million in 2022.
We expect the global medical document management systems market to exhibit a CAGR of 11.9% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of digitized medical DMS over paper medical records, as it decreases retrieval time and allows to prevent the transmission of the coronavirus infection among healthcare staff.
The rising utilization of Electronic Health Records (EHRs), that includes patient-centered records and provides information available instantly and securely to authorized users, is primarily driving the global medical document management systems market.
Based on the product, the global medical document management systems market has been segmented into solution and services. Currently, solution holds the majority of the total market share.
Based on the mode of delivery, the global medical document management systems market can be divided into web-based and cloud-based and on-premises, where web-based and cloud-based currently exhibits a clear dominance in the market.
Based on the application, the global medical document management systems market has been categorized into patient medical records management, admission and registration documents management, patient billing documents management, and others. Currently, patient medical records management accounts for the majority of the global market share.
Based on the end user, the global medical document management systems market can be segregated into hospitals and clinics, insurance providers, and others. Among these, hospitals and clinics hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global medical document management systems market include 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.
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