New York, USA, April 27, 2023 (GLOBE NEWSWIRE) -- Cloud-based Medical Records Management Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cloud-based Medical Records Management Market Research Report Information by Product & Service, by Application, by End User, and By Region - Forecast Till 2030, the Cloud-based Medical Records Management Market industry is projected to grow from USD 2.03 Billion in 2023 to USD 5.83 billion by 2030, exhibiting a CAGR of 14.91% during the forecast period (2023 - 2030).
Market Scope:
Medical records are significant papers that include private information about each patient's medical background. Medical records must be kept up-to-date and accessible so that doctors may access them whenever they're needed. It could be challenging for the doctor to give the appropriate therapy if the record cannot be located. The practice of keeping patient medical records electronically rather than on paper file systems has become more popular in recent years.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/11476
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.83 Billion |
| CAGR | 14.91% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product & Service, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing adoption of electronic health records (EHR) fuels market growth |
| Improving infrastructure & rising adoption of healthcare information systems |
Cloud-based Medical Records Management Market Competitive Outlook
Leading market players are investing a lot of money in R&D to broaden their product portfolios, which will spur further growth in the market for cloud-based medical records management. Moreover, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and collaborating with other organizations in order to expand their global presence. In order to grow and thrive in a market that is becoming more competitive and growing, competitors in the cloud-based medical records management sector must offer affordable products.
Key Companies in the market of cloud-based medical records management market includes,
- Oracle Corporation (US)
- Epic Systems Corporation (US)
- 3M Company (US)
- McKesson Corporation (US)
- Siemens Medical Solutions USA Inc. (US)
- Allscripts Healthcare, LLC (US)
- GE Healthcare (US)
- Canon, Inc. (Japan)
- Hyland Software (US)
- AthenaHealth (US)
Cloud-based Medical Records Management Market Trends
Market Drivers
The expanding implementation of electronic health records (EHR), improved infrastructure, and increased acceptance of healthcare information systems are the main drivers of market growth. The use of electronic health records (EHR) has grown recently on a global scale. EHR adoption is being fueled by expanded government initiatives and physician acceptance of EHR. Moreover, EHR systems support healthcare professionals in effectively maintaining patient records. EHR adoption is fueled by the numerous advantages that EHR offers in medical evaluation, such as greater care coordination and better decision-making.
The market for medical document management systems has been pushed by evolving healthcare practices as well as rising use of health information management systems and electronic medical records systems. The market for medical electronic document management systems has grown as a result of the rising adoption of health information management systems like the electronic medical record (EMR), health information management (HIM), radiology information system (RIS), and picture archiving and communication system (PACS). For instance, as the healthcare sector transitions to digitalization, electronic medical record (EMR) systems are growing in popularity.
Since this system's introduction, which makes many workplaces paperless and provides protection for critical papers, there has been a rise in demand for it. Faster data searches are made possible by cloud-based medical document management systems, which offer greater file visibility than traditional server-based systems. It also lessens the necessity for employing a specialist who can operate these devices, which contributes to lowering total expenses. The majority of hospitals and clinics nowadays use cloud-based document management systems to keep track of their patient data since they provide a variety of advantages, such as quick access, little time commitment, improved security for important documents, effective workflow management, etc.
Market Limitations
Nonetheless, it is anticipated that worries about data security and privacy would impede the expansion of the worldwide industry.
Browse In-depth Market Research Report (128 Pages) on Cloud-based Medical Records: https://www.marketresearchfuture.com/reports/cloud-based-medical-records-management-market-11476
COVID-19 Analysis:
The market for medical document management solutions has experienced substantial damage from the COVID-19 pandemic. Companies can begin to apply solutions that can help us escape from the crisis specifically from document management. Because to the massive amount of data generated by COVID-19, various businesses are already offering new solutions based on electronic medical records. As a result, the COVID-19 pandemic has contributed to the expansion of the industry under investigation.
Cloud-based Medical Records Management Market Segmentation:
Product & Service Insights
In 2022, it was anticipated that the market for cloud-based medical records management will be dominated by the services sector. This is a result of greater adoption of patient healthcare improvement strategies, such as safety, patient-centeredness, and effectiveness.
Application Insights
The market for medical records is anticipated to be dominant in 2022 and to see the fastest growth over the forecast period of 2023–2030. The doctor, patients, and other healthcare professionals can greatly benefit from the medical records that are offered by solutions. The benefits include encouraging workflow efficiency, providing flexibility and scalability, strengthening patient security, improving patient care overall, and finding patients who need preventive care. They also include improving communication and identifying patients who need preventive treatment.
End User Insights
In 2022, the hospitals and clinics category held the greatest market share because of the aging population, increased multimorbidity, and the strong desire for improved health. Also, the prevalence of chronic diseases throughout the world is boosting demand for cloud-based records management software, which is propelling the market's expansion.
Cloud-based Medical Records Management Market Regional Analysis:
The North American area is expanding as a result of crucial variables such rising comorbidity, high technology usage, and payers and providers using patient portals more frequently. Moreover, patient portals are becoming widely used by end users in the US and Canadian markets, including payers and providers. As compared to other geographical areas, the healthcare information technology sector in the nation is one of the most mature markets. As a result, in the United States, an enormous fraction of the population uses electronic medical records. Governments in the North American area have recommended hospitals and clinics to switch from paper medical records to electronic versions for improved patient data storage.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=11476
In 2022, Europe held the second-largest market share for cloud-based medical records management. It is anticipated that national adoption of digital health policies would encourage reforms to European regulatory frameworks governing the preservation of patient health records. The market for cloud-based medical records management in the UK is anticipated to develop at the quickest rate in the area of Europe, while the market for cloud-based medical records management in Germany is said to have the biggest market share.
From 2023 to 2030, it is anticipated that the Asia-Pacific cloud-based medical records management market would expand at a high rate. The infrastructure for hosting databases on servers is extensively established in Singapore, Japan, Australia, and China. The emerging nations in the area offer potential for developers to work with national health agencies to digitize medical records. Also, the Asia-Pacific region's cloud-based medical records management market is predicted to develop at the highest rate in 2022, with China holding the greatest market share.
Discover more research Reports on Healthcare Industry by Market Research Future:
Medical Billing Market Share, Trends and Growth Analysis By Type (Professional Billing, Institutional Billing), Application (Database Management, Financial, Infrastructure, Operational) Process (Electronic Billing, Payment And Medical Billing Services) - Forecast Till 2030
EHR-EMR Market Information By Component (Software, Hardware), By Application (Specialty-Based and General Application), By Mode Of Delivery (Cloud-Based), By End User (Hospitals and Clinics and Ambulatory Care Centers) - Forecast till 2030
Healthcare Information Systems Market research report, by type (hospital information systems, pharmacy information systems), components (software, hardware), deployment (web-based, on premise), by end user (hospitals) - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
