Global Medical Document Management System Market to Reach US$527 mn by 2019 owing to Increasing Demand for Advanced Health Monitoring Systems


Published Date : Jan 07, 2016

ALBANY, New York, January 7, 2016: MarketResearchReports.biz announces the addition of a latest report, titled ‘Global Medical Document Management System Market 2015-2019’ to its online repository. As per the report, the global medical document management system market is expected to reach USD527 mn by 2019.

Management of valuable information requires the deployment of an accessible and reliable document management system. Document management system (DMS) is an integral part of electronic content management solution. Increasing demand for advanced health monitoring systems is expected to drive the global medical document management system market during the period between 2015 and 2019. Due to the growth of the global IT healthcare market, it is expected that there will be more demand for advanced monitoring systems for the patients in clinics and hospitals in the years to come. Medical document management systems offer information about the patients and assist medical professionals to maintain patients’ history efficiently and accurately. By using medical document management systems, medical experts and doctors can eliminate the procedure of documenting patient information manually and instead concentrate on the patient’s health. Increased spending by the governments of various countries is expected to propel the global medical document management system market.

The global medical document management system market is segmented on the basis of application, technology, deployment model, end-user, and geography. By application, the global medical document management system market is classified into billing systems, admission registration, record management, and document imaging management. In 2014, the record management segment dominated the global medical document management system market and is expected to maintain its dominant position by 2019. The record management segment is predicted to reach US$134 mn by 2019 due to a shift from paper-based transactions towards electronic mediums. Lack of standards in the underdeveloped countries will restrict the growth of the global medical document management system market in the next few years.

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By technology, the global medical document management system market is classified into product and services. The service segment of the DMS system market focuses on training, updates, maintenance, and support expenses. By deployment model, the global medical document management system market is classified into cloud-based and on-premise. For mid-sized organizations, on-premise is an ideal deployment model. Nowadays, many vendors deliver medical document management solutions on the cloud to meet the increasing demand from organizations.

Based on end-user, the global medical document management system market is segmented into healthcare insurance providers, hospitals, and care centers and specialty homes. In 2014, the healthcare insurance providers segment held a share of close to 13% in the global medical document management system market and is expected to maintain its dominant position in the years to come. APAC, EMEA, and the Americas are the major geographical regions in the global medical document management system market. The Americas is predicted to be the fastest-growing region in the global medical document management system market in the next few years. Cerner, GE, McKesson, and Siemens are some of the dominant companies in the global medical document management system market.

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