Europe Medical Document Management Market

Europe Medical Document Management Market Size (2023 to 2028)

The size of the European Medical Document Management Market was worth around USD 83.34 million in 2023. It is expected to grow at a CAGR of 14.1% to reach USD 161.17 million by 2028. It captures 25% of the global medical document management market.

The rising use of healthcare IT, the requirement for medical records retention, and government initiatives are some factors driving the expansion of the medical document management market in Europe. The need for medical document management in the European region is further expected to be caused by changing healthcare practices and the rising adoption of health information management systems and electronic medical records systems.

Electronic miscellaneous documents (EMDS) solution suppliers abound in Germany. As a result, health information management systems such as the electronic medical record (EMR), health information management (HIM), radiology information system (RIS), and picture archiving and communication system (PACS) are becoming more widely used, contributing to the growth of the medical document management market.

Health information management and electronic medical record systems are gaining popularity. The growing awareness of the need to reduce healthcare expenses. The use of the least amount of paper possible and again in clinical efficiency. The Government initiatives to assist EMR and e-health adoption in the healthcare industry and growing digitization and automation in the healthcare profession are significant factors driving the market forward.

Medical records document management systems are one of the essential factors because they provide easy-to-use, quick-to-implement, and smart process solutions that improve practice effectiveness and reduce medical record retention costs. In addition, these solutions aid workflow while also improving the quality and safety of patient care.

There have been security worries about data privacy as the use of the electronic medical record (EMR) has grown. Many firms have been observed to lack transparency in their data management processes. Furthermore, government agencies have established several regulations to address data security issues and security breaches, requiring life sciences organizations to implement several controls over their electronic signatures (ERES) Using electronic records to assure healthcare data's authenticity, integrity, and confidentiality. However, this has remained a major stumbling block for large pharmaceutical and biotechnology organizations, causing them to be hesitant to adopt web- and cloud-based solutions, limiting the market's growth.

This research report has been segmented the European medical document management market into the following sub-segments.

By Product:

• Medical Document Management Solutions Market                             
  • Standalone Medical Document Management Solution   
    • Medical Record Scanning Software
    • Electronic Medical Document Management Software
  • Integrated Medical Document Management Solution    
• Medical Document Management Services Market               
  • Documents Scanning and Management Services              
  • Product Support Services             
    • Implementation and Integration Services
    • Maintenance, Support & Optimization Services
    • Education & Training Services

By Mode of Delivery:

• Web-Based Solutions
• Cloud-Based Solutions
• On-Premise Model

By Application:

• Patient Medical Records Management 
• Image Management
• Admission and Registration Documents Management
• Patient Billing Documents Management

By End-Users:

• Hospitals & Clinics
• Nursing Homes/ Assisted Living Facilities/ Long Term Care Centres
• Insurance Providers
• Other Healthcare Institutions

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Regionally, due to its well-developed and established healthcare industry and greater penetration rate of medical document management systems into healthcare practices, Europe held the second-largest share in the global medical document management market. Administrative costs for hospitals and healthcare facilities account for more than 25% of overall expenditure in Germany and the U.K. As a result, over the last several years, there has been a spike in medical document management systems throughout the country and the area to reduce these enormous costs.  The Health Information Technology for Economic and Clinical Health (HITECH) Act encourages the use of health IT in hospitals and clinics and the installation of medical data organizing tools. This element is also expected to help the market's growth.

Medical document management in the U.K refers to creating, managing, and protecting electronic medical documents. Advanced medical document management (MDM) systems with functions including document scanning, retrieval, archiving, and access are available. In addition, professional document scanning services can help practices digitize medical documents, making entering information into an electronic health record system (EHR).

Germany is a country where many MDM products seamlessly link with EMR, practice management, accounting, coding, and various other tools, enhancing staff productivity. In addition, MDM systems store a database of a patient's medical history and allow doctors and administrators to decide treatments and processes related to hospitalizations.

KEY MARKET PLAYERS:

Companies playing a significant role in the European medical documents management market are McKesson Corporation (U.S.), Toshiba Medical Systems Corporation (Japan), Cerner Corporation (U.S.), Kofax Ltd. (U.S.), EPIC Systems (U.S.), 3M Company (U.S.), Siemens Medical Solutions USA, Inc. (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.) and Hyland Software (U.S.).