Persistence Market Research, latest study on ‘Patient Record Management market’ features a holistic view of the market size, market share, profit estimates, SWOT analysis and the regional landscape of the business. The report precisely expounds key challenges and future growth prospects of the market, while highlighting the current competitive scene and analyzes the expansion strategies adopted by leading market players.
In this fast developing world, humans are less focused on their health issues and daily life activities. The emerging technologies in the areas of telecommunications are widely used in the healthcare sector, to provide better facilities and also to consume the time of treatment. Nowadays, the number of diseases have increased, with the increase in technologies and most of the people are facing health issues, especially due to the emission of radiations. In the past, the hospitals used to maintain a register as databases and also to keep the track on the patient’s treatment. The health professionals then started using a computer to manage the database. In this futuristic world, the health professionals are using software known as the patient record management system, to maintain the database and to track the patient’s treatment on a weekly or hourly basis. By using patient record management systems, the health professionals can record the patient’s info, department lies-in, physician, tours, treatment, and lab results.
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Healthcare sector conducts lots of documentation that requires maintenance, updates, and files on a regular basis. Medical practices use an (EPRMS) referred to as an Electronic Patient Record Management System. The Electronic Patient Record Management System is a software, which is used by health professionals to develop a centralized database using PHP & MYSQL combinations. This software can also be used in cash collection processes to manage, and archive data. However, these are the few factors which are creating the potential growth and opportunities for the patient record management system.
Global Patient Record Management Market: Drivers and Challenges
The primary factor, which is driving the patient record management market is the need of medical document management system with the increase in adoption of EMR systems & HIM systems, for improved facilities, such as patient care, and rising demand for efficient information management. The reduction of the mess of paperwork and cost of keeping employees for calculation work are also the main factors, which are driving the market for patient record management systems.
The primary challenge faced by the healthcare professionals in patient record management market is the high cost of implementation and ensuring privacy & security. The cost of establishing Electronic Patient Record Management System software in hospitals premises is too high, due to its features and installations. On the other hand, the privacy & security concerns, which includes the patient records and medical history of the patient. However, the Health Insurance Portability and Accountability Act (HIPAA) security rule has announced for the protection and accessibility of the record.
Global Patient Record Management Market: Segmentation
Segmentation of patient record management market on the basis of type of products:
- Standalone Medical Document Management Solutions
- Integrated Medical document Management Solutions
- Medical Record Scanning and Management Services
- Product Support Services
Segmentation of patient record management market on the basis of applications:
- Patient medical records managements
- Admission & registration document management
- Patient billing document management
Segmentation of patient record management market on the basis of delivery:
Segmentation of patient record management market on the basis of end-users:
- Hospitals & Clinics
- Nursing Homes
- Healthcare Payers
Global Patient Record Management Market: Competition Landscape
The prominent players in patient record management market are: Siemens Medical Solutions USA, Toshiba Medical Systems Corporation, Hyland Software, EPIC Systems, McKesson Corporation, GE Healthcare, 3M Company, Cerner Corporation, Allscripts Healthcare Solutions, and Inc, Kofax Ltd.
Global Patient Record Management Market: Regional Overview
On the basis of geography, North America is anticipated to have the largest market share, owing to the well-developed software developing companies, and the presence of various innovative technologies in the healthcare sector. Europe is also expected to gain substantial market share due to the introduction of new technologies, which includes easy methods of restoring data. Also, APAC is supposed to be the fastest growing patient record management market as many companies are developing new technologies and innovations and also, due to the government initiatives taken towards the improvement of technologies by the emerging economies such as India, China, and Japan.
The patient record management market in Latin America and MEA are also expected to witness high growth rates in the coming period due to the rise in technologies in healthcare sector.
The report covers exhaustive analysis on:
- Global Patient Record Management Market Segments
- Global Patient Record Management Market Dynamics
- Historical Actual Market Size, 2013 – 2017
- Global Patient Record Management Market Size & Forecast 2018 to 2028
- Supply & Demand Value Chain for Patient Record Management Market
- Global Patient Record Management Market Current Trends/Issues/Challenges
- Competition & Companies involved in Patient Record Management Market
- Patient Record Management Market Solutions Technology
- Value Chain of Patient Record Management Market
- Global Patient Record Management Market Drivers and Restraints
Regional analysis for Global Patient Record Management Market includes
- North America Patient Record Management Market
- Latin America Patient Record Management Market
- Rest of Latin America
- Western Europe Patient Record Management Market
- Rest of Western Europe
- Eastern Europe Patient Record Management Market
- SEA & Others of APAC Patient Record Management Market
- Australia and New Zealand (A&NZ)
- Rest of SEA & Others of APAC
- Japan Patient Record Management Market
- China Patient Record Management Market
- Middle East and Africa Patient Record Management Market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint