Medical Document Management Systems Market Status (2017-2021) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2022-2028
Report Description
The global Medical Document Management Systems market size is estimated at USD 360.2 million in 2021, expanding at a CAGR 14.7% from 2022-2028 to reach USD 778.1 Million US in 2028.
Market Dynamics
Medical document management is an integral aspect of the accreditation program, and the necessity to follow regulatory guidelines is propelling the medical document management systems market forward. The market is likely to be driven by greater investment in the healthcare industry in emerging nations. Various governments are providing grants and investments to help the transition to medical document management systems. Despite the high level of interest in deploying a medical document management system, acceptance is hampered by the current technological infrastructure, which is insufficient to integrate such a system. In addition, a shortage of funding and qualified employees’ stymies execution.
The demand for effective data management systems in healthcare settings is driving the market. In order to comply with rules and legislation, the healthcare sector is using digitalization and automation to reduce storage costs and the need for extra records and maintenance departments. Furthermore, the growing demand to establish a seamless experience while decreasing mistakes is expected to propel market expansion in the approaching years.
The market for medical document management systems has been driven by evolving care delivery and rising use of health information devices and network medical files systems. Electronic miscellaneous documents (EMDS) solution suppliers abound in the United States. As a result, the adoption of health information systems such as the health information management (HIM), electronic medical record (EMR), picture archiving and communication system (PACS), and radiology information system (RIS) has increased, contributing to the growth of the healthcare electronic document management systems market.
Regional Insights
North America dominated the medical document management systems market due to its very well and developed healthcare sector and increasing penetration rate of healthcare document management systems into care practice. In the US, administrative spending for healthcare and hospitals clinics accounts for more than a quarter of total cost. As a result, there has been a surge in the usage of medical documentation throughout the country in recent years in order to cut on these massive expenditures.
Segment Dynamics
The cloud-based solutions is a relatively recent strategy that is mostly adopted by enterprises that lack the necessary core systems. These systems have a cheaper installation cost than on-premises solutions. Furthermore, this software eliminates necessity in-house support, which is probably the major driver of its demand.
Due to the obvious cheap installation cost, execution, and setup, cloud-based solutions are anticipated to witness the fastest market. Cloud-based technologies are rapidly being adopted by large pharmaceutical and biopharmaceutical organizations. The cheap costs of procuring servers, as well as the deployment and validation of programs, can be linked to the rising use of cloud-based systems by businesses (and their maintenance).
Competitive Insights
The market for Medical Document Management Systems is very competitive, with both domestic and foreign players involved. To stay competitive, large corporations engage in strategic mergers and acquisitions, collaborations, and new product launches. Hyland Software, a content services company, will buy Alfresco an information services framework and connected with various, in October 2020. Alfresco's business, including its products and technology, was purchased in the successful acquisition.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Medical Document Management Systems by type, region, and application. In addition, this report introduces the market competition situation among the vendors, and company profile, besides, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- Toshiba Medical Systems Corporation
- ThoughtTrace, Inc.
- Siemens AG
- Midmark Corporation
- McKesson Corporation
- Laserfiche
- Kofax Limited
- Hyland Software, Inc.
- GE Healthcare
- Epic Systems Corporation
- Cerner Corporation.
- Athena Health Inc.
- Allscripts Healthcare Solutions Inc.
- athenahealth, Inc.
- FUJIFILM Holdings Corporation
- 3M Company
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Solutions
- Services
Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Patient Medical Records Management
- Patient Billing Documents Management
- Other Applications
- Admission and Registration Documents Management
Mode of Delivery Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Web-based and Cloud-based
- On-premises
End Users Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Hospitals and Clinics
- Insurance Providers
- Other Healthcare Institutions
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
1. Medical Document Management Systems Market Overview
1.1. Product Overview and Scope of Medical Document Management Systems
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Medical Document Management Systems Market Size Growth Rate Analysis by Type 2021 VS 2028
1.3.1. Solutions
1.3.2. Services
1.4. Global Medical Document Management Systems Consumption Comparison by Applications: 2021 VS 2028
1.4.1. Patient Medical Records Management
1.4.2. Patient Billing Documents Management
1.4.3. Admission and Registration Documents Management
1.4.4. Other Applications
1.5. Global Medical Document Management Systems Consumption Comparison by Mode of Delivery: 2021 VS 2028
1.5.1. Web-based and Cloud-based
1.5.2. On-premises
1.6. Global Medical Document Management Systems Consumption Comparison by End User: 2021 VS 2028
1.6.1. Hospitals and Clinics
1.6.2. Insurance Providers
1.6.3. Other Healthcare Institutions
1.7. Global Medical Document Management Systems Market Size Estimates and Forecasts by Region: 2021 VS 2028
1.7.1. North America Medical Document Management Systems Estimates
1.7.2. Europe Medical Document Management Systems Estimates
1.7.3. China Medical Document Management Systems Estimates
1.7.4. Japan Medical Document Management Systems Estimates
2. Market Competition by Manufacturers
2.1. Global Medical Document Management Systems Revenue Market Share by Manufacturers (2020)
2.2. Medical Document Management Systems Market Share by Company Design (Tier 1, Tier 2 and Tier 3)
2.3. Global Medical Document Management Systems Average Price by Manufacturers (2017-2021)
2.4. Manufacturers Medical Document Management Systems Production Sites, Area Served, Product Types
2.5. Medical Document Management Systems Market Competitive Situation and Trends
2.5.1. Medical Document Management Systems Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Medical Document Management Systems Consumption by Region (2017-2021)
3.1. Global Medical Document Management Systems Consumption by Region
3.2. Global Medical Document Management Systems Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Medical Document Management Systems Consumption Growth Rate (2017-2021)
3.2.3. North America Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
3.2.4. North America Medical Document Management Systems Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Medical Document Management Systems Consumption Growth Rate (2017-2021)
3.2.7. Europe Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
3.2.8. Europe Medical Document Management Systems Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Medical Document Management Systems Consumption Growth Rate (2017-2021)
3.2.11. Asia Pacific Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
3.2.12. Asia Pacific Medical Document Management Systems Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Medical Document Management Systems Consumption Growth Rate (2017-2021)
3.2.15. South America Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
3.2.16. South America Medical Document Management Systems Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Medical Document Management Systems Consumption Growth Rate (2017-2021)
3.2.19. Middle East and Africa Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
3.2.20. Middle East and Africa Medical Document Management Systems Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Medical Document Management Systems Consumption by Type (2017-2021)
4.1. Global Medical Document Management Systems Price by Design (2017-2021)
4.2. Global Medical Document Management Systems Revenue Market Share by Design (2017-2021)
4.2.1. Solutions
4.2.2. Services
5. Global Medical Document Management Systems Consumption by Applications (2017-2021)
5.1. Global Medical Document Management Systems Price by Application (2017-2021)
5.2. Global Medical Document Management Systems Revenue Market Share by Application (2017-2021)
5.2.1. Patient Medical Records Management
5.2.2. Patient Billing Documents Management
5.2.3. Admission and Registration Documents Management
5.2.4. Other Applications
6. Global Medical Document Management Systems Consumption by Mode of Delivery (2017-2021)
6.1. Global Medical Document Management Systems Price by Mode of Delivery (2017-2021)
6.2. Global Medical Document Management Systems Revenue Market Share by Mode of Delivery (2017-2021)
6.2.1. Web-based and Cloud-based
6.2.2. On-premises
7. Global Medical Document Management Systems Consumption by End Users (2017-2021)
7.1. Global Medical Document Management Systems Price by End User (2017-2021)
7.2. Global Medical Document Management Systems Revenue Market Share by End User (2017-2021)
7.2.1. Hospitals and Clinics
7.2.2. Insurance Providers
7.2.3. Other Healthcare Institutions
8. Key Companies Profiled
8.1. Toshiba Medical Systems Corporation
8.1.1. Toshiba Medical Systems Corporation Medical Document Management Systems Corporation Information
8.1.2. Toshiba Medical Systems Corporation Medical Document Management Systems Product Portfolio
8.1.3. Toshiba Medical Systems Corporation Medical Document Management Systems Consumption, Price and Gross Margin (2017-2021)
8.1.4. Toshiba Medical Systems Corporation Main Business and Markets Served
8.1.5. Toshiba Medical Systems Corporation Recent Developments/Updates
8.2. ThoughtTrace, Inc.
8.3. Siemens AG
8.4. Midmark Corporation
8.5. McKesson Corporation
8.6. Laserfiche
8.7. Kofax Limited
8.8. Hyland Software, Inc.
8.9. GE Healthcare
8.10. Epic Systems Corporation
8.11. Cerner Corporation.
8.12. Athena Health Inc.
8.13. Allscripts Healthcare Solutions Inc.
8.14. athenahealth, Inc.
8.15. FUJIFILM Holdings Corporation
8.16. 3M Company
9. Marketing Channel, Distributors and Customers
9.1. Marketing Channel
9.2. Medical Document Management Systems Distributors List
9.3. Medical Document Management Systems Customers
10. Market Dynamics
10.1. Medical Document Management Systems Industry Trends
10.2. Medical Document Management Systems Growth Drivers
10.3. Medical Document Management Systems Market Challenges
10.4. Medical Document Management Systems Market Restraints
11. Global Medical Document Management Systems Consumption and Demand Forecast, by Region (2022-2028)
11.1. Global Forecasted Demand Analysis of Medical Document Management Systems, by Regions and Country
11.1.1. North America Forecasted Consumption of Medical Document Management Systems by Country
11.1.2. Europe Market Forecasted Consumption of Medical Document Management Systems by Country
11.1.3. Asia Pacific Market Forecasted Consumption of Medical Document Management Systems by Region
11.1.4. Latin America Forecasted Consumption of Medical Document Management Systems by Country
11.1.5. Middle East and Africa Forecasted Consumption of Medical Document Management Systems by Country
12. Global Medical Document Management Systems Consumption and Demand Forecast, by Device Segments (2022-2028)
12.1. Global Forecasted Consumption of Medical Document Management Systems by Device Segments (2022-2028)
12.2. Global Consumption and Price Forecast by Device Segments (2022-2028)
12.3. Global Forecasted Growth Rate of Medical Document Management Systems by Device Segments (2022-2028)
13. Research Finding and Conclusion
14. Methodology and Data Source
14.1. Methodology/Research Approach
14.1.1. Research Programs/Design
14.1.2. Market Size Estimation
14.1.3. Market Breakdown and Data Triangulation
14.2. Data Source
14.2.1. Secondary Sources
14.2.2. Primary Sources
14.3. Author List
14.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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