Medical Document Management Systems Market Is Expected To Reach Around US$ 1,111.7 Million by 2028, Grow at a CAGR Of 11.9% during Forecast Period 2023-2028

The latest research study "Catheter-Directed Thrombolysis Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that 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) refers to software designed to store, track, and manage documents. It helps reduce paper usage, coordinate the information flow between laboratories and other departments, and streamline the billing process. It increases productivity by offering quick access to documents and enabling fast and efficient processing with minimal errors. As a result, medical DMS finds extensive applications in clinics, nursing homes, hospitals, and insurance agencies across the globe.

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Medical Document Management Systems Market Trends and Drivers:

The global medical document management systems market is primarily driven by the increasing number of patients visiting hospitals due to the widespread prevalence of chronic diseases. Moreover, the escalating need to convert medical documents to a digital format to protect medical records from being lost or destroyed in a fire, flood, or natural disaster and develop a more efficient document workflow is positively influencing the market growth.

Additionally, it takes time to physically retrieve paper documents from archives and transport them to other departments. Consequently, the rising adoption of medical DMS to reduce retrieval time with no physical effort has catalyzed market growth. Furthermore, there has been a rise in the use of electronic health records (EHRs), which are real-time, patient-centered records that provide secure, quick access to information for authorized users.

Along with this, the surging adoption of health management information systems (HMIS) is contributing to market growth. Other factors, including the rising automation and digitalization in the healthcare industry, increasing incidences of data security breaches, and the surging number of drug discovery activities, are also anticipated to propel the market growth.

Global Medical Document Management Systems Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region 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:
• 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:
• 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

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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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