North America Medical Document Management Systems Market Report and Forecast 2024-2032
North America Medical Document Management Systems Market Report and Forecast 2024-2032
North America Medical Document Management Systems Market Outlook
The North America medical document management systems market size was valued at USD 133 million in 2023, driven by the rising adoption of health information management systems along with the growing advancements in the health information technology sector in the region. The market is expected to grow at a CAGR of 13.80% during the forecast period of 2024-2032, with the values likely to rise from USD 151.4 million in 2024 to USD 425.7 million by 2032.
Key Takeaways
- In November 2023 , AdaptX raised a funding of USD 10 million to support the development of its AI-powered medical data analysis technology for healthcare providers. The investment indicates the rising adoption of artificial intelligence driven technologies in the North America medical document management systems market.
- The market is heavily influenced by an influx of investments. In December 2023 , Harmony Healthcare IT, a United States-based health data management and platform solutions provider, secured a major investment from a private equity firm, Novacap.
- In November 2023 , Thoma Bravo acquired NextGen Healthcare, Inc. in a deal amounting to USD 1.8 billion. Strategic mergers and acquisitions are driving the market value significantly.
The market is witnessing an increasing adoption of health information management systems and rapid digitization in healthcare organizations to improve efficiency in the workflows and enhance patient care. Medical document management systems include software solutions that can efficiently manage, organize, and store medical information. This shift from paper-based records to digital health records is likely to boost the North America medical document management systems market demand in the coming years.
The market is influenced by the rising investment in the health information technology (HIT) sector to support data-driven innovations in healthcare facilities. In December 2023 , Harmony Healthcare IT, a United States-based health data management and platform solutions provider, secured a major investment from a private equity firm, Novacap. This partnership will support the development of data handling and data use innovations, along with the advancement and expansion of the company’s existing data management solutions including HealthData Platform. Such significant investments in the health IT industry are expected to propel market growth in the region.
The North America medical document management systems market growth is driven by rising technological advancements including the integration of artificial intelligence (AI) to analyze digital health records. In November 2023 , a Seattle-based technology company, AdaptX, raised an additional funding of USD 10 million to support the development of its AI-powered medical data analysis technology for healthcare providers. The financing round, led by Cercano Management, raised the company’s total amount to USD 20 million. The funding will enable the company to strengthen and expand its technology called self-serve tools which can help detect patterns and trends from electronic medical records, indicating ways to improve patient care. The rising innovation in data management solutions is anticipated to elevate market value.
One of the significant North America medical document management systems market trends is the increased merger and acquisition activities among the key market players. In November 2023 , an American cloud-based healthcare technology provider NextGen Healthcare, Inc. was acquired by a leading software investment firm, Thoma Bravo in a deal amounting to USD 1.8 billion. NextGen Healthcare has a diverse portfolio of technology solutions including electronic health records (EHR) and practice management. With this strategic partnership, it plans to accelerate growth and product innovation in the healthcare technology sector. Such partnerships facilitate the sharing of resources and expertise and also contribute to expediting the pace of market growth in the region.
North America Medical Document Management Systems Market Segmentation
The report offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Solutions
- Service
- Patient Medical Records Management
- Admission and Registration Documents Management
- Patient Billing Documents Management
- Others
- Cloud-Based
- On-Premises
- Hospitals and Clinics
- Nursing Homes
- Insurance Providers
- Others
- United States
- Canada
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:
- 3M
- MCKESSON CORPORATION
- Siemens Medical Solutions USA, Inc.
- GE Healthcare
- Veradigm LLC
- Oracle
- Tungsten Automation Corporation
- Epic Systems
- Hyland Software, Inc.
- Midmark Corporation
FAQs
- What was the North America medical document management systems market value in 2023?
- What is the North America medical document management systems market forecast outlook for 2024-2032?
- What are the major factors aiding the North America medical document management systems market demand?
- What are the major North America medical document management systems market trends?
- What is the market segmentation based on the product?
- What is the market breakup by mode of delivery?
- What are the major end users of medical document management systems?
- What are the applications of medical document management systems?
- What is the market segmentation by countries?
- Who are the key players involved in the North America medical document management systems market?
Meta description
The North America medical document management systems market size was valued at USD 133 million in 2023 and it is anticipated to grow at a CAGR of 13.80% during the forecast period of 2024-2032.
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- 1 Preface
- 1.1 Objectives of the Study
- 1.2 Key Assumptions
- 1.3 Report Coverage – Key Segmentation and Scope
- 1.4 Research Methodology
- 2 Executive Summary
- 3 North America Medical Document Management Systems Market Overview
- 3.1 North America Medical Document Management Systems Market Historical Value (2017-2023)
- 3.2 North America Medical Document Management Systems Market Forecast Value (2024-2032)
- 4 North America Medical Document Management Systems Market Landscape*
- 4.1 North America Medical Document Management Systems: Developers Landscape
- 4.1.1 Analysis by Year of Establishment
- 4.1.2 Analysis by Company Size
- 4.1.3 Analysis by Region
- 4.2 North America Medical Document Management Systems: Product Landscape
- 4.2.1 Analysis by Product
- 4.2.2 Analysis by Application
- 5 North America Medical Document Management Systems Market Dynamics
- 5.1 Market Drivers and Constraints
- 5.2 SWOT Analysis
- 5.2.1 Strengths
- 5.2.2 Weaknesses
- 5.2.3 Opportunities
- 5.2.4 Threats
- 5.3 Porter’s Five Forces Model
- 5.3.1 Bargaining Power of Suppliers
- 5.3.2 Bargaining Power of Buyers
- 5.3.3 Threat of New Entrants
- 5.3.4 Threat of Substitutes
- 5.3.5 Degree of Rivalry
- 5.4 Key Demand Indicators
- 5.5 Key Price Indicators
- 5.6 Industry Events, Initiatives, and Trends
- 5.7 Value Chain Analysis
- 6 North America Medical Document Management Systems Market Segmentation (2017-2032)
- 6.1 North America Medical Document Management Systems Market (2017-2032) by Product
- 6.1.1 Market Overview
- 6.1.2 Solutions
- 6.1.3 Service
- 6.2 North America Medical Document Management Systems Market (2017-2032) by Application
- 6.2.1 Market Overview
- 6.2.2 Patient Medical Records Management
- 6.2.3 Admission and Registration Documents Management
- 6.2.4 Patient Billing Documents Management
- 6.2.5 Others
- 6.3 North America Medical Document Management Systems Market (2017-2032) by Mode of Delivery
- 6.3.1 Market Overview
- 6.3.2 Cloud-Based
- 6.3.3 On-Premises
- 6.4 North America Medical Document Management Systems Market (2017-2032) by End User
- 6.4.1 Market Overview
- 6.4.2 Hospitals and Clinics
- 6.4.3 Nursing Homes
- 6.4.4 Insurance Providers
- 6.4.5 Others
- 6.5 North America Medical Document Management Systems Market (2017-2032) by Country
- 6.5.1 Market Overview
- 6.5.2 United States
- 6.5.3 Canada
- 7 United States Medical Document Management Systems Market Segmentation (2017-2032)
- 7.1 United States Medical Document Management Systems Market (2017-2032) by Product
- 7.1.1 Market Overview
- 7.1.2 Solutions
- 7.1.3 Service
- 7.2 United States Medical Document Management Systems Market (2017-2032) by Application
- 7.2.1 Market Overview
- 7.2.2 Patient Medical Records Management
- 7.2.3 Admission and Registration Documents Management
- 7.2.4 Patient Billing Documents Management
- 7.2.5 Others
- 7.3 United States Medical Document Management Systems Market (2017-2032) by Mode of Delivery
- 7.3.1 Market Overview
- 7.3.2 Cloud-Based
- 7.3.3 On-Premises
- 7.4 United States Medical Document Management Systems Market (2017-2032) by End User
- 7.4.1 Market Overview
- 7.4.2 Hospitals and Clinics
- 7.4.3 Nursing Homes
- 7.4.4 Insurance Providers
- 7.4.5 Others
- 8 Canada Medical Document Management Systems Market Segmentation (2017-2032)
- 8.1 Canada Medical Document Management Systems Market (2017-2032) by Product
- 8.1.1 Market Overview
- 8.1.2 Solutions
- 8.1.3 Service
- 8.2 Canada Medical Document Management Systems Market (2017-2032) by Application
- 8.2.1 Market Overview
- 8.2.2 Patient Medical Records Management
- 8.2.3 Admission and Registration Documents Management
- 8.2.4 Patient Billing Documents Management
- 8.2.5 Others
- 8.3 Canada Medical Document Management Systems Market (2017-2032) by Mode of Delivery
- 8.3.1 Market Overview
- 8.3.2 Cloud-Based
- 8.3.3 On-Premises
- 8.4 Canada Medical Document Management Systems Market (2017-2032) by End User
- 8.4.1 Market Overview
- 8.4.2 Hospitals and Clinics
- 8.4.3 Nursing Homes
- 8.4.4 Insurance Providers
- 8.4.5 Others
- 9 Regulatory Framework
- 10 Patent Analysis
- 10.1 Analysis by Type of Patent
- 10.2 Analysis by Publication Year
- 10.3 Analysis by Issuing Authority
- 10.4 Analysis by Patent Age
- 10.5 Analysis by CPC Analysis
- 10.6 Analysis by Patent Valuation
- 10.7 Analysis by Key Players
- 11 Grants Analysis
- 11.1 Analysis by Year
- 11.2 Analysis by Amount Awarded
- 11.3 Analysis by Issuing Authority
- 11.4 Analysis by Grant Application
- 11.5 Analysis by Funding Institute
- 11.6 Analysis by Departments
- 11.7 Analysis by Recipient Organization
- 12 Funding and Investment Analysis
- 12.1 Analysis by Funding Instances
- 12.2 Analysis by Type of Funding
- 12.3 Analysis by Funding Amount
- 12.4 Analysis by Leading Players
- 12.5 Analysis by Leading Investors
- 12.6 Analysis by Geography
- 13 Partnership and Collaborations Analysis
- 13.1 Analysis by Partnership Instances
- 13.2 Analysis by Type of Partnership
- 13.3 Analysis by Leading Players
- 13.4 Analysis by Geography
- 14 Supplier Landscape
- 14.1 Market Share by Top 5 Companies
- 14.2 3M
- 14.2.1 Financial Analysis
- 14.2.2 Product Portfolio
- 14.2.3 Demographic Reach and Achievements
- 14.2.4 Mergers and Acquisitions
- 14.2.5 Certifications
- 14.3 MCKESSON CORPORATION
- 14.3.1 Financial Analysis
- 14.3.2 Product Portfolio
- 14.3.3 Demographic Reach and Achievements
- 14.3.4 Mergers and Acquisitions
- 14.3.5 Certifications
- 14.4 Siemens Medical Solutions USA, Inc.
- 14.4.1 Financial Analysis
- 14.4.2 Product Portfolio
- 14.4.3 Demographic Reach and Achievements
- 14.4.4 Mergers and Acquisitions
- 14.4.5 Certifications
- 14.5 GE Healthcare
- 14.5.1 Financial Analysis
- 14.5.2 Product Portfolio
- 14.5.3 Demographic Reach and Achievements
- 14.5.4 Mergers and Acquisitions
- 14.5.5 Certifications
- 14.6 Veradigm LLC
- 14.6.1 Financial Analysis
- 14.6.2 Product Portfolio
- 14.6.3 Demographic Reach and Achievements
- 14.6.4 Mergers and Acquisitions
- 14.6.5 Certifications
- 14.7 Oracle
- 14.7.1 Financial Analysis
- 14.7.2 Product Portfolio
- 14.7.3 Demographic Reach and Achievements
- 14.7.4 Mergers and Acquisitions
- 14.7.5 Certifications
- 14.8 Tungsten Automation Corporation
- 14.8.1 Financial Analysis
- 14.8.2 Product Portfolio
- 14.8.3 Demographic Reach and Achievements
- 14.8.4 Mergers and Acquisitions
- 14.8.5 Certifications
- 14.9 Epic Systems
- 14.9.1 Financial Analysis
- 14.9.2 Product Portfolio
- 14.9.3 Demographic Reach and Achievements
- 14.9.4 Mergers and Acquisitions
- 14.9.5 Certifications
- 14.10 Hyland Software, Inc.
- 14.10.1 Financial Analysis
- 14.10.2 Product Portfolio
- 14.10.3 Demographic
- 14.10.4 Mergers and Acquisitions
- 14.10.5 Certifications
- 14.11 Midmark Corporation
- 14.11.1 Financial Analysis
- 14.11.2 Product Portfolio
- 14.11.3 Demographic Reach and Achievements
- 14.11.4 Mergers and Acquisitions
- 14.11.5 Certifications
- 15 North America Medical Document Management Systems Market – Distribution Model (Additional Insight)
- 15.1 Overview
- 15.2 Potential Distributors
- 15.3 Key Parameters for Distribution Partner Assessment
- 16 Key Opinion Leaders (KOL) Insights (Additional Insight)
- 17 Company Competitiveness Analysis (Additional Insight)
- 17.1 Very Small Companies
- 17.2 Small Companies
- 17.3 Mid-Sized Companies
- 17.4 Large Companies
- 17.5 Very Large Companies
- 18 Payment Methods (Additional Insight)
- 18.1 Government Funded
- 18.2 Private Insurance
- 18.3 Out-of-Pocket
- *Additional insights provided are customisable as per client requirements.
- * The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
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