Market outlook of the medical document management systems
Management of critical information necessitates the deployment of a reliable and accessible document management system. Technavios market research analysts project revenues for the global medical document management systems market to reach around USD 527 million by 2019.
Rising demand for advanced health monitoring system drives the growth of this market. As a result of the growth of the global IT healthcare market, the demand for advanced monitoring systems for patients in hospitals and clinics is likely to increase. Medical DMS provides information about patients and helps maintain the record of their medical history. With the help of this system, physicians and medical staff can increasingly focus on patients’ health eliminating the process of manual preparation of medical records. During the forecast period, the market is predicted to witness an increase in spending on healthcare BI and analytics solutions.
DMS is a part of electronic content management (ECM) solution. Based on component types, ECM solution consists of the following segments:
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Segmentation of the global medical documentation management market by application
Document imaging management
The records management market is expected to reach close to USD 134 million by 2019. The market is evolving thanks to paper-based transactions shifting to electronic mediums. However, the lack of proper standards in developing countries can act as an impediment to the growth of this market.
During the forecast period, the growing need to streamline billing systems will drive the market for billing systems. The market is witnessing a substantial increase in the number of hospitals and clinics. With this, the need to track all treatment-related expenses of patients has become a key priority for the healthcare sector. Thanks to these positive trends, the billing systems segment is expected to expand significantly over the next four years.
Segmentation of the global medical documentation management market by technology
The DMS services segment focuses on updates, support, maintenance, and training expenses. The market revenue of this segment is slated to increase as more healthcare organizations start realizing the benefits of investing in updates rather than making new purchases. With investments in R&D, many new products are expected to be launched in this segment during the forecast period.
Segmentation of the global medical documentation management market by deployment model
On-premise is ideal for mid-sized enterprises that do not have the same requirements as large organizations. On-premise solutions are usually dependent on in-house IT administration and takes a longer timespan for implementation.
Many vendors have started delivering medical document solutions on the cloud to cater to the growing demand from enterprises. As the software is maintained at the vendor’s data center, corporate IT departments of hospitals and care centers incur lower costs on services available on a subscription basis. It eliminates all complexities involving software installation at the premises of the user. The cloud-based segment is expected to grow rapidly until 2019.
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Table of Contents:
PART 01: Executive summary
PART 02: Scope of the report
Top vendor offerings
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Global DMS market
Global medical DMS market
Position of global medical DMS market in global DMS market
Five forces analysis
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