Medical Document Management System Market Worth USD 0.63 Billion by 2025

The global medical document management systems market size is expected to reach USD 0.63 billion by 2025. The global market is estimated to register a CAGR of 10.2 percent. The sector has experienced noticeable growth in the past few years owing to rising burden of paper management and storage. Medical document management solutions such as hospital information systems, patient monitoring system, electronic medical record (EMR), and e-prescribing methods facilitate managing medical records like insurance cards/claims, admission forms, invoices, and records of laboratory results. Rising need for ease of managing large amounts of healthcare data along with increasing demand for electronic health record (EHR) and clinical trial management system (CTMS) is expected to propel market demand.

Various government initiatives to develop healthcare IT and clinical document managing software sector globally are the key drivers of the market. For instance, the 58th World Health Assembly; where the WHO urged member states to promote EHR and health documentation and create awareness regarding the same. Apart from this, there are many region-specific initiatives that are promoting the adoption of these services. For instance, the Health Department Republic of South Africa set guidelines for healthcare IT strategy in the region. – Grand View Research