Europe Medical Document Management Systems Market Report and Forecast 2024-2032
Europe Medical Document Management Systems Market Report and Forecast 2024-2032
Europe Medical Document Management Systems Market Outlook
The global medical document management systems market size was valued at USD 0.8 billion in 2023, with Europe holding a significant market share. The market is driven by the increasing adoption of health information management systems. It is expected to grow at a CAGR of 14.10% during the forecast period of 2024-2032, with the values likely to attain USD 2.1 billion by 2032.
Key Takeaways
- In November 2023 , it was reported that 90% of NHS trusts have adopted electronic patient records, with NHS England investing EUR 1.9 billion in the initiative. The rising government support aimed at the digital transformation of the healthcare system is expected to fuel market demand.
- One of the major Europe medical document management systems market trends is the increased investment in cloud-based solutions and patient-focused technologies. In September 2023 , Clanwilliam announced the launch of a United Kingdom (UK) Division comprising five UK brands and an investment of EUR 10 million in research and development to expand and advance the companies’ product portfolios including Medisec Software’s document management software.
- The rising technological advancements, such as cloud computing, artificial intelligence (AI), and machine learning, are expected to drive innovation in data management platforms.
Europe Medical Document Management Systems Market Analysis
Medical document management systems help to digitize, store, and manage medical documents and records in a healthcare setting. These software solutions enable the shift from paper-based to electronic document management, improving workflow efficiency and enhancing access to patient medical information. The demand for cloud-based data management systems is on the rise in healthcare organizations due to their flexibility and cost-effectiveness, which is likely to fuel Europe medical document management systems market growth in the forecast period.
The rising government initiatives aimed at the digital transformation of the healthcare system in the region are increasing the market demand for medical document management services. In November 2023, it was reported that 189 NHS trusts (accounting for 90%) have adopted electronic patient records (EPR). To ensure the adoption of this digital technology, NHS England invested EUR 1.9 billion to either adopt a new or improve the existing system in the hospital trusts in England. With the digitization of patient records, there will be a growing need for integration between EPR platforms and data management solutions which is anticipated to augment the Europe medical document management systems market demand.
The market is witnessing increased investment in cloud-based solutions and patient-focused technologies, which is expected to influence the adoption of medical document management systems in Europe. In September 2023 , a global healthcare technology group Clanwilliam announced the launch of a United Kingdom (UK) Division comprising five UK brands along with an investment worth EUR 10 million in research and development (R&D). The funding was intended to advance the product portfolios of these companies and develop new solutions. The UK Division of Clanwilliam will also include Medisec Software’s document management software and Informatica Systems’ patient intervention and population health management tools. This planned investment is intended to support the digital transformation initiatives of the NHS and UK healthcare system. Such collaborative initiatives with substantial financial backup are poised to elevate the Europe medical document management systems market share in coming years.
The market is also driven by the increasing volume of medical data generated by healthcare organizations including patient records, imaging studies, and lab reports, among others. To enhance data accessibility and usability, there is a critical need for robust medical document management solutions. Moreover, the rising technological advancements, such as cloud computing, artificial intelligence (AI), and machine learning, are expected to drive innovation in data management platforms.
Europe Medical Document Management Systems Market Segmentation
Market Breakup by Product
Market Breakup by Application
- Patient Medical Records Management
- Admission and Registration Documents Management
- Patient Billing Documents Management
- Others
Market Breakup by Mode of Delivery
Market Breakup by End User
- Hospitals and Clinics
- Nursing Homes
- Insurance Providers
- Others
Market Breakup by Country
- United Kingdom
- Germany
- France
- Italy
- Others
Europe Medical Document Management Systems Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Cerner Corporation
- Epic Systems Corporation
- Allscripts Healthcare Solutions, Inc.
- McKesson Corporation
- GE Healthcare
- Siemens Healthineers
- Philips Healthcare
- IBM Watson Health
- Hyland Software, Inc.
- Agfa-Gevaert Group
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
FAQs
- What is the Europe medical document management systems market forecast outlook for 2024-2032?
The Europe medical document management systems market is expected to be driven by the rising demand for the global medical document management systems market, which is anticipated to grow at a CAGR of 11.36% during the forecast period of 2024-2032 and is likely to reach a market value of USD 2.1 billion by 2032.
- What are the major factors aiding the Europe medical document management systems market demand?
The rising technological advancements in the healthcare sector are fuelling the demand for the market.
- What are the major Europe medical document management systems market trends?
One of the significant trends in the market include increased investment in cloud-based solutions and patient-focused technologies. In September 2023, Clanwilliam announced the launch of a UK Division comprising five UK brands and an investment of EUR 10 million in R&D to expand and advance the companies’ product portfolios.
- What is the market segmentation based on the product?
Based on the product, the market is segmented into solutions and services.
- What is the market breakup by mode of delivery?
By mode of delivery, the market is divided into cloud-based and on-premises.
- What are the major end users of medical document management systems?
End users of the market are hospitals and clinics, nursing homes, and insurance providers, among others.
- What are the applications of medical document management systems?
Major applications include patient medical records management, admission and registration documents management, and patient billing documents management, among others.
- What is the market segmentation by countries?
The market segmentation by countries includes the United Kingdom, Germany, France, and Italy, among others.
- Who are the key players involved in the Europe medical document management systems market?
The key players in the market are Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, GE Healthcare, Siemens Healthineers, Philips Healthcare, IBM Watson Health, Hyland Software, Inc., and Agfa-Gevaert Group.
Meta description
The Europe medical document management systems market is poised for growth, driven by the expansion of the global market, which was valued at USD 0.8 billion in 2023 and is projected to grow at a CAGR of 11.36% during the forecast period of 2024-2032.
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