The North America
medical record management market is expected to grow at a substantial CAGR during
the forecast period. According to WHO, the effectiveness of a
medical system in detecting health problems, identifying innovative solutions,
defining priorities and allocating resources to improve health outcomes is
determined by proper collection, management and use of information within
healthcare systems. Therefore, these medical records are maintained to improve
the overall quality of healthcare.
Key factors anticipated
to drive the growth of North America medical record management market include
rising adoption of IT in healthcare coupled with surging requirement for
medical records retention. Moreover, increasing initiatives by the government are
expected to further fuel the market growth over the coming years. However, unwillingness
of physicians, nurses, and other medical staff to change their traditional
methods might hamper the adoption of medical record management systems, thereby
acting as a major impediment to the market growth over the forecast period.
By delivery, the medical
record management market is bifurcated into on-premise and cloud-based. Among
them, cloud-based segment is projected to show lucrative growth in the market during
the forecast period. This can be attributed to the low cost of installation,
implementation, and setting up of these systems. In addition to this, the
cloud-based software eliminates the need for in-house maintenance, which is
likely to be the prime factor due to which the North America medical record
management market is estimated to rev up during the forecast period.
Major players in
the North America medical record management market include GE Healthcare, Siemens Corporation, The 3M Company, Cerner
Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc, Athenahealth,
Inc., NextGen Healthcare, among others. The companies in the market are using
strategies such as launch of new products & services, merges and
acquisitions to increase their customer bases and expand their share in the
market.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyse and forecast the market size of North
American medical record management.
- To forecast North America medical record
management market based on delivery, application, end user and regional distribution.
- To identify drivers and challenges for North
America medical record management market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions etc., in North
America medical record management market.
- To conduct the pricing analysis for North
America medical record management market.
- To identify and analyse the profile of leading
players operating in the North America medical record management market.
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TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of medical record management service providers across the region.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the suppliers which could not be identified due to the limitations of secondary
research. TechSci Research analyzed the product types, application types and
presence of all major medical record management providers across the region.
TechSci Research calculated North America medical record
management market size using a bottom-up approach, where data for various end
user industries and its application across various product types were recorded
and forecast for the future years. TechSci Research sourced these values from
the industry experts and company representatives and externally validated
through analyzing historical data of these product types and applications for
getting an appropriate, overall market size. Various secondary sources such as
company websites, news articles, press releases, company annual reports,
investor presentations and financial reports were also used by TechSci
Research.
Key Target
Audience:
- Medical record management service
providers, vendors and other stakeholders
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and industry
associations & alliances related to medical record management market
- Market research and
consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as hazard control system providers and partners, end users etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, North America medical
record management market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, By Delivery:
- Market,
By Application:
- Patient
record management
- Admission
& Registration document management
- Patient
billing document management
- Others
- Market, By End Use:
- Hospitals &
Clinics
- Nursing homes
- Others
- Market, By Country:
- United States
- Canada
- Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in North America medical record management market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis
in case of direct and indirect sales channel.
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