Medical Document Management Systems Market to grow by USD 412.45 million from 2022 to 2027|Increased efficiency and productivity in MDMS to boost the market

NEW YORK, July 10, 2023 /PRNewswire/ — The medical document management systems market size is set to grow by USD 412.45 million between 2022 and 2027 and register at an accelerating CAGR of  12.13%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

Medical Document Management Systems Market 2023-2027: Segmentation

The medical document management systems market is segmented as follows:

• Deployment

• End-user

• Geography

• The market share growth by the on-premise segment will be significant during the forecast period. It is expected that the on-premise segment in the global MDMS market will dominate the market share when compared to the cloud segment. One of the main reasons is the increase in the adoption of on-premise MDMS across several SMEs such as hospitals and clinics, globally. Some of the benefits of the on-premise MDMS segment include customization, enabling end-users to modify it as per their needs.

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Medical Document Management Systems Market 2023-2027: Vendor Analysis and Scope

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To help businesses improve their market position, the medical document management systems market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include 3M Co., Allscripts Healthcare Solutions Inc., Athenahealth Inc., Canon Inc., Compulink Management Center Inc., Epic Systems Corp., Exela Technologies Inc., General Electric Co., Hyland Software Inc., International Business Machines Corp., Konica Minolta Inc., McKesson Corp., Microsoft Corp., Open Text Corp., Oracle Corp., Siemens AG, Thoma Bravo LP, Thomson Reuters Corp., NextGen Healthcare Inc., and Pericent BPM and DMS Software Pvt. Ltd.

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Vendor Offering

• 3M Co: The company offers medical document management systems namely, 3M Health Record Management Software.

• Allscripts Healthcare Solutions Inc: The company offers medical document management systems namely, Allscripts Professional HER.

• Athenahealth Inc: The company offers medical document management systems namely, athenaClinicals.

Medical Document Management Systems Market 2023-2027: Market Dynamics

Key Drivers

The enhanced efficiency and productivity in MDMS drive market growth. Some of the main benefits of MDMS include management of patient demographics information, spending analysis, overheads, inventory management, insurance claims, patient analysis, regulatory and compliance information, license, and emergency management. It also analyzes business processes and recognizes financial irregularities, which can be reported to the management team for implementing appropriate course of action. Hence, there is an increasing adoption of MDMS across the healthcare sector in order to minimize costs and enhance productivity and efficiency.

Major Trends

The rising emphasis on detailed and customized reporting is a primary trend in the market. Reporting has become an essential part of medical document management in order to extract useful insights. Several physicians highly depend on the reporting capabilities of their software systems, which gives them actual figures that can help them in their medical assessment. Some of the key reports that MDMS generates include insights into unassigned credits, appointments turned out, and post-op calls. Hence, such factors are expected to drive market growth during the forecast period.

Significant Challenges

Threats from open-source MDMS  can pose a significant challenge to market growth. There are several open-source vendors in the global MDMS market which offer a variety of business analytic tools and applications. One of the main features of open-source MDMS is that it can be easily downloaded and can be run on any available platform. There is an increasing preference for open-source products across small- and medium-sized enterprises (SMEs) and individual users owing to their low cost and availability. Hence, such factors can hinder the market growth during the forecast period.

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• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

• Global competitiveness and key competitor positions

• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Medical Document Management Systems Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027

• Detailed information on factors that will assist medical document management systems market growth during the next five years

• Estimation of the medical document management systems market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the medical document management systems market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of medical document management systems market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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