North America Medical Document Management Market

North America Medical Document Management Market Size (2023 to 2032)

The North America Medical Document Management Market was valued at USD 133.00 million in 2023. The North America Medical Document Management Market is expected to have 13.8 % CAGR from 2024 to 2032 and be worth USD 425.73 million by 2032 from USD 151.35 million in 2024.  

Medical document management refers to the creation, management, and protection of electronic medical documents. Advanced medical document management (MDM) systems with functions including document scanning, retrieval, archiving, and access are available. Professional document scanning services can help practises digitise medical documents, making it easier to enter information into an electronic health record system (EHR).

Growing usage of healthcare IT, increasing requirement for medical records retention, and government initiatives are some of the factors accelerating the growth rate of the medical documents management market in North America. The market for medical document management systems has been driven by changing healthcare practices and rising adoption of health information management systems and electronic medical records systems.

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, as well as a gain in clinical efficiency. The Government initiatives to assist EMR and e-health adoption in the healthcare industry, as well as growing digitization and automation in the healthcare profession, are major factors driving the market forward.

Medical records document management systems are one of the most 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. These solutions help with workflow and increase the quality and safety of patient treatment.

However, 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, several regulations have been established by government agencies 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. 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, expected to be limiting the market's growth.

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

North America Medical Document Management Market - 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

North America Medical Document Management Market -  By Mode of Delivery

• Web-Based Solutions

• Cloud-Based Solutions

• On-Premise Model

North America Medical Document Management Market -  By Application

• Patient Medical Records Management 

• Image Management

• Admission and Registration Documents Management
• Patient Billing Documents Management

North America Medical Document Management Market -  By End-Users

• Hospitals & Clinics

• Nursing Homes/ Assisted Living Facilities/ Long Term Care Centres

• Insurance Providers
• Other Healthcare Institutions

North America Medical Document Management Market -  By Country

• The United States

• Canada

• Mexico
• Rest of North America

Due to its well-developed and established healthcare industry and greater penetration rate of medical document management systems into healthcare practises, North America dominated the global medical document management market. Administrative costs for hospitals and healthcare facilities account for more than 25% of overall expenditure in the United States. As a result, over the last several years, there has been a spike in the use of medical document management systems throughout the country and in the area in order 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, as well as the installation of medical data organising tools. This element is also expected to help the market's growth.

Canada is a country where Many MDM products seamlessly link with EMR, practise management, accounting, coding, and a variety of other tools, enhancing staff productivity. MDM systems store a database of a patient's medical history and allow doctors and administrators to make decisions about treatments and processes related with hospitalizations.

KEY MARKET PLAYERS

Companies playing a notable role in the North American 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.).