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Global Medical Document Management System Market 2015-2019

Global Medical Document Management System Market 2015-2019

Market outlook of the medical document management systems

Management of critical information necessitates the deployment of a reliable and accessible document management system. Technavio's 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:

Segmentation of the global medical documentation management market by application

Billing systems
Record management
Admission registration
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

Services
Product
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

Cloud-based
On-premise
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.

Segmentation of the global medical documentation management market by end-users

Hospitals
Care centers and specialty homes
Healthcare insurance providers
Healthcare insurance providers are key end-user of DMS. Insurance providers use DMS tools for scanning, storing, and retrieving documents. Implementation of DMS helps agencies save space, time, and money. It also helps health insurers in effectively managing content and streamlining the insurance process while meeting all compliances and security regulations. This segment accounted for a market share of nearly 13% in 2014.

Geographical segmentation of the global medical documentation management market

APAC
Americas
EMEA
Presently, the US represents the largest market for healthcare, worldwide. Its growth is augmented by the growing demand for in-vitro diagnostics and research activities in advanced areas of biotechnology such as proteomics and glycomics. However, the Americas region is expected to witness a slow market growth rate because of the reduction in spending on the adoption of DMS during the forecast period.

Leading vendor analysis in the global medical documentation management market

Cerner
GE
McKesson
Siemens
Other prominent vendors in this market include 3M, Allscripts, EPIC, Hyland Software, Kofax, Nextgen Healthcare, Toshiba, Treeno, Henry Schein Medical Systems, and docSTAR.

The integration of mobile with medical DMS is expected to emerge as a key prospect for the leading market vendors over the next four years. Healthcare organizations are expected to scale up their investments on mobile DMS during the forecast period.

Key questions answered in the report

What are the key factors driving the global medical documentation management market?
What are the key market trends impacting the growth of the global medical documentation management market?
What are the various opportunities and threats faced by the vendors in the global medical documentation management market?
Trending factors influencing the market shares for EMEA, APAC, and Americas?
Key outcome of the five forces analysis on the global medical documentation management market?
Growth forecast of the global medical documentation management market until 2019?
Technavio also offers customization on reports based on specific client requirement.

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Press Release

Technavio Announces the Publication of its Research Report – Global Medical Document Management System Market 2015-2019

Technavio recognizes the following companies as the key players in the Global Medical Document Management System Market: Cerner, GE, McKesson and Siemens

Other Prominent Vendors in the market are: 3M, Allscripts, EPIC, Hyland Software, Kofax, Nextgen Healthcare, Toshiba, Treeno, Henry Schein Medical Systems, and docSTAR.

Commenting on the report, an analyst from Technavio’s team said: “An electronic DMS is a software program for managing, creating, storing, and controlling all documents electronically. The basic electronic DMS includes document management, workflow, text retrieval, and imaging. The system should also be capable of offering secured access, execution of text, and disposition of records.”

According to the report, one of the major drivers is the increased demand for advanced patient health monitoring systems. A DMS is an advanced monitoring system that enables doctors and patients to access high-quality healthcare information from anywhere. This results in faster access to health information and is likely to reduce medical errors, and thereby result into cost savings.

Further, the report states that one of the key challenges in this market is the high cost of implementation.

Companies Mentioned

Cerner, GE, McKesson, Siemens, 3M, Allscripts, EPIC, Hyland Software, Kofax, Nextgen Healthcare, Toshiba, Treeno, Henry Schein Medical Systems, and docSTAR.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table ECM segments
    • DMS components
      • Table DMS components
    • Global DMS market
      • Table Global DMS market 2014-2019 ($ billions)
    • Global medical DMS market
      • Table Global medical DMS market 2014-2019 ($ millions)
    • Position of global medical DMS market in global DMS market
      • Table Share of global medical DMS market in global DMS market 2014
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Table Global medical DMS market by application 2014
    • Global medical billing systems market
      • Table Global medical billing systems market 2014-2019 ($ millions)
    • Global medical records management systems market
      • Table Global medical records management systems market 2014-2019 ($ millions)
    • Global medical document imaging management systems market
      • Table Global medical document imaging management systems market 2014-2019 ($ millions)
    • Global medical admission and registration management systems market
      • Table Global medical admission and registration management systems market 2014-2019 ($ millions)
  • Market segmentation by technology
    • Table Global medical DMS market by technology 2014
    • Table Global medical DMS market by technology 2014-2019
  • Market segmentation by deployment model
    • Table Global medical DMS market by deployment model 2014
    • Table Global medical DMS market by deployment model 2014-2019 ( $ millions)
  • Market segmentation by end-user
    • Table Global medical DMS market by end-user 2014
  • Geographical segmentation
    • Table Global medical DMS market by geography 2014
    • Table Major drivers of global medical DMS market and their impact by region
  • Key leading countries
  • Market drivers
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Overview
    • Key vendors
    • Other prominent vendors
  • Key vendor analysis
    • Cerner
      • Table Cerner: Business segmentation by revenue 2014
      • Table Cerner: Business segmentation by revenue 2013 and 2014 ($ billions)
    • GE Healthcare
      • Table GE Healthcare: Business segmentation by revenue 2014
      • Table GE Healthcare: Geographical segmentation by revenue 2014
    • McKesson
      • Table McKesson : Business segmentation by revenue 2015
      • Table McKesson: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table McKesson: Geographical segmentation by revenue 2015
    • Siemens Healthcare
      • Table Siemens Healthcare: Product segmentation
  • Technavio analysis
  • Appendix
    • List of abbreviations
  • Explore Technavio

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