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Global Medical Document Management System Market to Reach More Than USD 527 Million by 2019The global medical document management system (DMS) market is set to grow at a CAGR of over 15% by 2019, according to Technavio's latest report. In this report, Technavio covers the market outlook and growth prospects of the global medical document management system market for 2015-2019. Based on application, the report segments the market into the following: billing systems, records management systems, document imaging management systems, and admission and registration document management systems. Technavio's research study segments the global medical document management system market into the following regions:
Americas: largest medical document management system market In 2014, with a market share of 48%, the Americas dominated the global medical document management system market. At present, the US represents the largest market for healthcare worldwide, which is due to the growing demand for in vitro diagnostics and research activities in advanced areas of biotechnology such as proteomics and glycomics. Also, the increase in the adoption of healthcare IT technologies and greater investment in IT healthcare as well as improved regulatory compliance is fostering the growth of the market in this region. Amrita Choudhury, one of Technavio's lead enterprise application analysts, says, "The market in the Americas is also driven by the government incentives that are awarded for the meaningful use of electronic records. Moreover, government regulations are leading to added pressure to adopt healthcare software." Ask for a sample of this report: http://goo.gl/rzWq5y High level of research activities in biotechnology fueling the medical document management system market in EMEA In 2014, EMEA acconted for a market share of 28% and became the second largest region in the market. The growth in this region is supported by the high level of research activities in biotechnology. Also, the growth of niche diagnostic markets such as companion diagnostics, hematology testing, and tissue diagnostics will increase the growth of the market during the forecast period. Factors such as an increase in healthcare expenditure and the desire to collect detailed information about patients are driving the market in this region. Moreover, the increase in the income of the middle-class population is leading to increased expenditure on healthcare services in this region. With the improvement in overall economic conditions, investment in new technologies such as electronic medical record (EMR) systems is expected to increase as people will become more concerned about their health and more ready to spend on tackling health-related problems. However, the shortage of skilled professionals in this region is expected to have an impact on the use of EMR technology on a large scale. APAC market expected to grow at a sound rate during the forecast period APAC accounted for a market share of 24% in 2014. The region is expected to grow at a steady rate as a result of the increase in drug discovery and diagnostic procedures during the forecast period. Also, the doubling of healthcare expenditure is expected to increase the rate of adoption of medical DMSs in the future, however, automated systems have limited usage in laboratory settings. Many SMEs may not adopt automation as a priority because of its high cost. Also, the increased skilled workforce in this region may pose a further challenge to the adoption of EMR systems. On the other hand, changes in the mindset of end-users based in APAC are expected to improve the growth of the market in this region. "The increasing number of acquisitions by DMS vendors and the increasing demand for EMR systems in emerging countries such as China and India are other factors propelling the growth of the market in APAC," says Amrita. Some of the top vendors in the global medical document management system market highlighted in the report are: Browse Related Reports:
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