The size of the medical document management market in the APAC region was worth USD 66.79 million in 2021. It is expected to grow at a CAGR of 14.3% to reach USD 130.29 million by 2026. It captures 20% of the global market.
The primary factors driving the APAC medical document management market are an increase in the need to handle the significant information cost-effectively contained in health care systems and an increase in the requirement to improve the quality of the information and health care. The market is driven by the demand for effective data management systems in healthcare settings. To comply with regulations and legislation, the healthcare market uses digitalization and automation to reduce storage costs and the need for additional records and maintenance departments. The requirement for electronic document management with the increased adoption of EMR systems and HIM systems and the necessity to maintain patient data securely following state, federal, and local legislation are the other vital drivers accelerating the growth of the market.
Furthermore, as the number of patients treated and the number of medical institutions grows, much data is collected. Medical document management is also being driven by the requirement to manage this data and the desire to reduce paper usage to reduce operational expenses and storage issues. Admission forms, insurance cards, claims, invoices, and laboratory results are all automated with medical document management systems. Increasing R&D due to increased competition among healthcare institutions to improve patient safety and care is also estimated to favor the market during the forecast period.
In addition, the regional market is expected to be driven by rising government initiatives such as the deployment of e-Health and huge investments in infrastructure and healthcare IT development. The China National Forest Products Industry Association (CNFPIA), for example, produced the timber legality verification standard, which is a key component of CTLVS. The CNFPIA released a standard that establishes legality requirements for forest management and throughout the chain of custody, including timber legality requirements for document management, transportation, and sales, legality verification for domestic and imported timber, the development of a timber legality management system, and processing and trading.
The high costs associated with the implementation, concerns about confidentiality, and the unwillingness of medical, nursing, and other staff to adapt their established techniques are a few of the factors expected to be limiting the growth of the medical document management market in the APAC region. In addition, a shortage of funding and qualified employees hinders execution.
This research report segmented the Asia Pacific medical document management market into sub-segments.
By Product:
By Mode of Delivery:
By Application:
By End-Users:
By Country:
Regionally, the Asia-Pacific region represents the fastest-growing market in the global medical document management market due to the government's emphasis on adopting EHRs, modernization in healthcare, and investments by government and private entities to adopt healthcare IT technologies. Furthermore, improved clinical research and studies through organized and stored patient information through document management systems provide considerable growth opportunities for this market in this region.
However, due to improved healthcare infrastructure and more medical tourism in developing countries such as India and China, Asia-Pacific is likely to remain one of the fastest-growing regions. Furthermore, because of the government's emphasis on EHR adoption, modernization in healthcare, and investments by both government and commercial entities in healthcare IT systems, the Asia-Pacific region is the fastest-growing market. Furthermore, advancements in clinical research and studies utilizing organized and stored patient data via document management systems give numerous potential prospects for the Asia Pacific medical document management market.
KEY MARKET PLAYERS:
Companies playing a notable role in the Asia-Pacific 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.).
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Medical Document Management Solutions Market
5.1.2.1 Standalone Medical Document Management Solution
5.1.2.1.1 Medical Record Scanning Software
5.1.2.1.2 Electronic Medical Document Management Software
5.1.2.2 Integrated Medical Document Management Solution
5.1.3 Medical Document Management Services Market
5.1.3.1 Documents Scanning And Management Services
5.1.3.2 Product Support Services
5.1.3.2.1 Implementation And Integration Services
5.1.3.2.2 Maintenance, Support & Optimization Services
5.1.3.2.3 Education & Training Services
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Mode Of Delivery
5.2.1 Introduction
5.2.2 Web-Based Solutions
5.2.3 Cloud-Based Model
5.2.4 On-Premise Model
5.2.5 Y-o-Y Growth Analysis, By Mode Of Delivery
5.2.6 Market Attractiveness Analysis, By Mode Of Delivery
5.2.7 Market Share Analysis, By Mode Of Delivery
5.3 Application
5.3.1 Introduction
5.3.2 Patient Medical Records Management
5.3.3 Image Management
5.3.4 Admission And Registration Documents Management
5.3.5 Patient Billing Documents Management
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
5.4 End-Users
5.4.1 Introduction
5.4.2 Hospitals & Clinics
5.4.3 Nursing Homes/ Assisted Living Facilities/ Long Term Care Centers
5.4.4 Insurance Providers
5.4.5 Other Healthcare Institutions
5.4.6 Y-o-Y Growth Analysis, By End-Users
5.4.7 Market Attractiveness Analysis, By End-Users
5.4.8 Market Share Analysis, By End-Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Mode Of Delivery
6.1.3.4 By Application
6.1.3.5 By End-Users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Mode Of Delivery
6.1.4.4 By Application
6.1.4.5 By End-Users
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Mode Of Delivery
6.1.5.4 By Application
6.1.5.5 By End-Users
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 3M Compan
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Allscripts Healthcare Solutions Inc.
8.3 Cerner Corporation
8.4 EPIC Systems Corporation
8.5 GE Healthcare
8.6 Hyland Software Inc.
8.7 Kofax Ltd.
8.8 McKesson Corporation
8.9 Nextgen Healthcare Information Systems, Llc
8.10 Siemens Medical Solutions USA Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
