Medical Document Management Market Report (2020-2027) Examines Critical insights of each segment, including volume growth outlook, and demand & supply pattern | Athena Health, Cerner Corporation, Siemens, Kofax Ltd, etc

Increasing adoption of health information management systems and electronic medical records systems, Growing needs to curtail healthcare costs as well as need to minimize the use of paper, and the need to increase clinical efficiency are key factors contributing to a high CAGR of medical document management during the forecast period.

Market Size - USD 334.5 Million in 2018, Market Growth - CAGR of 10.4%, Market Trends - Development of mobile platforms for medical document management

According to the current analysis of Reports and Data, the global Medical Document Management market was valued at USD 334.5 Million in 2018 and is expected to reach USD 774.5 Million by the year 2026, at a CAGR of 10.4 %. The systems eliminate paper-based processes like record management in the health care sector.

The system involves the database of patient's information related to health in clinics and allows doctors and administrators to make well-informed choices in treatment for particular injury and hospitalization procedures. Using the document template utility, medical offices can plan and deploy customized solutions that enable them to customize to their needs. Text templates can be set up for patient information sheets, lab results, prescriptions, and any other type of text that may be looked-for. Each document template allows for several user-defined fields that can assist with indexing and searching. For example, a lab-result text template may consist of a patient id field, a date field, and a lab name field.

This report covers the recent COVID-19 incidence and its impact on Medical Document Management Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants include 3M Company, Allscripts Healthcare Solutions, McKesson, Epis corporation System, Athena Health, Cerner Corporation, Siemens, Kofax Ltd. Among others

For the purpose of this study, Reports and Data have segmented the Medical Document Management market based on product type, delivery mode, application, end-use, and region:

Product Type (Revenue, USD Million; 2016-2026)
Solution
Services

Delivery Mode Type (Revenue, USD Million; 2016-2026)
On-premises
Web-based
Cloud-based

Application (Revenue, USD Million; 2016-2026)
Patient Medical Records Management
Admission & Registration Document Management

End Use (Revenue, USD Million; 2016-2026)
Hospital
Insurance Providers
Nursing Homes and Long-term care
Other Healthcare Organizations

Market Segmentation by Regions:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Further key findings from the report suggest

The services segment of management allows the processing and storage of medical information such as lab tests, x-rays, emergency room records, and admitting information.

The cloud-based system is expected to witness lucrative growth during the forecast period 2019-2026 with a CAGR of 10.1 % owing to the low-cost installation, implementation, and set up of these systems

Hospitals and clinics led the end-user segment with the highest revenue share. The increasing number of hospital admissions is driving the demand in the industry.

North America accounts for the largest market share of 40% in 2018 attributing to the presence of highly-developed healthcare infrastructure and well-defined regulatory frameworks

The integrated solutions are expected to grow at a CAGR during the forecast period. Advantages offered by integrated software solutions, such as data integration and provision of the one-stop solution, for data management, make it popular among hospitals.

Standalone solutions tools have various advantages over integrated solutions as they offer the ability to work offline. However, integrated tools include Electronic Health Record, Picture Archiving, and Communication System, which integrate with other tools to manage data.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/medical-document-management-market

Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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