Posted January 13, 2015 by admin in Library

Medical Document Management Systems Market: 14% CAGR to 2019

Medical Document Management Systems Market
Medical Document Management Systems Market

Latest Research Report Available at adds “Medical Document Management Systems Market by Solution (Document Scanning Software, Document Management Software), Application (Medical Records Management), Mode of Delivery (Web-Based, Cloud-Based), & by End-User (Hospitals) – Global Forecasts to 2019” global research report to its store.

The global medical documents management systems market is expected to grow at a compound annual growth rate of around 14.0% during the forecast period of 2014–2019. The market is mainly driven by record retention requirements and other regulations, increasing information content in healthcare organizations, need to increase clinical efficiency, and to improve quality of healthcare. Moreover, the need to resolve storage issues of paper records, continued pressure to reduce health care costs, and increase overall operational efficiency of organizations further propel the growth of this market. Various factors such as increasing consolidation in healthcare, and technology advancements such as mobile platforms for document management systems, are providing significant growth opportunities for the market. However, factors such as the high implementation costs of these systems and reluctance of healthcare employees to adopt new methods are hampering market growth to a certain extent.

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Over the years, medical document management systems market has been experiencing continuous growth owing to the need for making computerized healthcare record systems. The advent of document management systems has revolutionized the management of electronic health records in healthcare. Growth in this market is primarily attributed to the need to improve the quality of the information as well as healthcare services, manage increasing information content in healthcare systems in a cost-effective way, and reduce compliance risks.

The companies profiled in medical documents management systems market research report are 3M Company, Allscripts Healthcare Solutions Inc., Cerner Corporation, EPIC Systems Corporation, GE Healthcare, Hyland Software Inc., Kofax Ltd., McKesson Corporation, Nextgen Healthcare Information Systems, Llc, Siemens Medical Solutions USA Inc., and Toshiba Corporation.

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The integrated medical document management solutions form the major portion of the medical document management solutions market. This is due to the increasing need of integration of document management systems with other systems such as EHR, PACS, RIS, and practice management systems to increase the clinical efficiency and provide improved patient care.

By 2019, North America contributed the largest share to the global medical document management systems market, followed by Europe, Asia-Pacific, and RoW. Developed geographies like North America and Europe are likely to grow at lower CAGRs as compared to the Asia-Pacific market, which is expected to show the fastest growth, largely driven by the increased healthcare spending, government initiatives for e-Health, and rising number of multi-specialty hospitals in the region.

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