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Medical Document Management Market Size is projected to reach USD 774.5 Million by 2026, growing at a CAGR of 10.4%

Akshay Chavhan 4 months ago 0 5

The global market for Medical Document Management (MDM) Market was valued at USD 334.5 Million in 2018 and is projected to attain USD 774.5 Million by the year 2026, demonstrating a Compound Annual Growth Rate (CAGR) of 10.4%. ERMS, serving as a central management and storage system for medical records, adheres to the legal requirements of organizations by preserving crucial records. The MDM system meticulously records, supports, and manages the operational, performance, and administrative activities of hospitals. It facilitates electronic storage and retrieval of records by authorized hospital staff, facilitating the elimination of paper file copies and safeguarding against inadvertent destruction. Applicable across various healthcare organizations, MDM systems are versatile tools designed for creating and managing electronic medical documents, ensuring their security, and streamlining workflows.

These systems play a pivotal role in document scanning, archiving, retrieval, and access. Integration with existing healthcare systems such as EMR, PACS, HIS, and RIS enhances workflow efficiency, leading to improved clinical effectiveness and patient care. Beyond regulatory compliance, these systems contribute to establishing a paperless environment within organizations.

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Key Highlights of the Report:

  • Region and country-specific evaluation covering the period 2016-2026, utilizing 2016-2017 as historical data, 2018 as the base year, and deriving forecasts for 2019-2026.
  • Analysis of Demand and Supply GAP.
  • Examination of the regulatory framework in each region.
  • Outlook on upcoming research and applications at the regional level.
  • Market share analysis of key industry players.
  • Strategic recommendations tailored for new entrants.
  • Market forecasts extending over a minimum of 6 years for all mentioned segments and regional markets.
  • Identification and analysis of market trends, encompassing Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations.
  • Strategic recommendations in key business segments based on market estimations.
  • Comprehensive mapping of competitive landscapes, highlighting key common trends.
  • Detailed company profiling, encompassing strategies, financials, and recent developments.

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Prominent Trends in the Medical Document Management Market

  • The drive for a paperless environment and the reduction of manual errors are anticipated to propel market growth.
  • Global healthcare organizations are intensifying efforts to enhance productivity and elevate the quality of customer service. To remain competitively positioned, organizations must deliver superior patient care while concurrently reducing operational costs.
  • The growth of document management systems is fueled by the necessity to allocate physical space for storing an array of documents, including patient charts, treatment authorization forms, patient information forms, insurance claims, among others. These systems facilitate seamless data accessibility.
  • The demand for a systematic approach further contributes to market expansion in the healthcare sector. Document Management Systems (DMS) streamline various features, and the centralized storage of documents with timestamps, patient history, and test reports aids in efficient retrieval without the need for physical movement. Moreover, the integration of healthcare systems onto these platforms can establish a data warehouse for specific diseases, fostering AI-based capabilities to support healthcare personnel.
  • Nevertheless, the challenge of a low adoption rate of medical document management systems remains a significant hurdle to global market growth.

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Companies considered and profiled in this market study

  • 3M Company,
  • Allscripts Healthcare Solutions,
  • McKesson,
  • Epis corporation System,
  • Athena Health,
  • Cerner Corporation,
  • Siemens,
  • Kofax Ltd.,
  • Nextgen Healthcare Information Systems,
  • GE Healthcare.

We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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