Increasing adoption of health information management systems and electronic medical records systems, Growing needs to curtail healthcare costs as well as need to minimize the use of paper, and the need to increase clinical efficiency are key factors contributing to a high CAGR of medical document management during the forecast period.

According to the current analysis of Reports and Data, the global Medical Document Management market was valued at USD 334.5 Million in 2018 and is expected to reach USD 774.5 Million by the year 2026, at a CAGR of 10.4 %. The systems eliminate paper-based processes like record management in the health care sector. The system involves the database of patient’s information related to health in clinics and allows doctors and administrators to make well-informed choices in treatment for particular injury and hospitalization procedures. Using the document template utility, medical offices can plan and deploy customized solutions that enable them to customize to their needs. Text templates can be set up for patient information sheets, lab results, prescriptions, and any other type of text that may be looked-for. Each document template allows for several user-defined fields that can assist with indexing and searching. For example, a lab-result text template may consist of a patient id field, a date field, and a lab name field.

Similarly, each text can have user-configurable fields that define numeric values, text or dates. The number of text templates and indexing possibilities are unlimited. Medical record maintenance is one of the segments under this market that keeps a record regarding the health issue of patients. These records can be used further if a person suffers from problems in the future, and the stored data can help the practitioner to treat the problem of patients. It provides workflow and improvement in patient care and patient safety. Electronic document archiving and retrieval is proven to help medical offices to cut short the cost of maintaining paper, increasing productivity, and make day-to-day organization activities much more efficient. With the help of Medical Document Management Systems customizable document templates and built-in workflow platforms, the usage of manual movement of paper becomes a process of the past.

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The global pharma healthcare market revenue growth is majorly driven by factors such as rising prevalence of chronic and acute diseases globally, rise in global geriatric population, growing awareness of health wellness among consumers, and growing demand for advanced medications and therapeutics. Growing need for advanced, patient-centered healthcare services, increasing availability of advanced point-of-care diagnostics, increasing biotechnological and pharmaceutical research development activities and clinical trials, and rise in public and private investments in the healthcare industry are some of the other major factors supporting market revenue growth. Market revenue growth is further driven by factors such as rising cases of the novel coronavirus disease, rising focus on development of rapid COVID-19 diagnostics including the RT-PCR test kits, increasing government intiatives towards manufacturing and distribution of COVID-19 vaccines, rising trends of telehealth and telemedicine, and growing need for remote patient care monitoring solutions.

Leading Players in the Global Pharma Healthcare Market:

3M Company, Allscripts Healthcare Solutions, McKesson, Epis corporation System, Athena Health, Cerner Corporation, Siemens, Kofax Ltd. Among others

Regional Outlook of the Global Medical Document Management Market:

Under this section of the report, the authors comprehensively analyze the key regional markets in the global Medical Document Management market. This section accurately evaluates the revenue shares and year-on-year revenue growth rate of these regional markets. Key regional markets encompassed in the report include North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.

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Detailed Regional Market Segmentation

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

Further key findings from the report suggest

• The services segment of management allows the processing and storage of medical information such as lab tests, x-rays, emergency room records, and admitting information.
• The cloud-based system is expected to witness lucrative growth during the forecast period 2019-2026 with a CAGR of 10.1 % owing to the low-cost installation, implementation, and set up of these systems
• Hospitals and clinics led the end-user segment with the highest revenue share. The increasing number of hospital admissions is driving the demand in the industry.
• North America accounts for the largest market share of 40% in 2018 attributing to the presence of highly-developed healthcare infrastructure and well-defined regulatory frameworks
• The integrated solutions are expected to grow at a CAGR during the forecast period. Advantages offered by integrated software solutions, such as data integration and provision of the one-stop solution, for data management, make it popular among hospitals.
• Standalone solutions tools have various advantages over integrated solutions as they offer the ability to work offline. However, integrated tools include Electronic Health Record, Picture Archiving, and Communication System, which integrate with other tools to manage data.

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