The healthy $700M future of Medical Document Management Systems
Announced today, a new 80-page report has summarized that the future for Medical Document Managment Systems (DMS) is on a promising incline, with the industry expected to reach $700M by 2025. The report which was labeled with the catchy title “Global Medical Document Management Systems Market Size Study, By Mode of Delivery (Cloud-based, On-premise, and Web-based), By Product (Services, and Solutions), By End-user (Nursing Homes, Hospitals, Insurance Providers and Others), and By Regional (North America, Europe, Asia Pacific, Latin America, and Rest of the World) Forecasts, 2018-2025,” also reports a predicted growth rate of more than 10.07% over the forecast period 2018-2025.
The sector has experienced clear growth in the past few years due to the rising burden of paper management and storage, and a number of government initiatives to develop healthcare IT and clinical document managing software sector globally are the key drivers of the market. The objective of the study was to define market sizes of different segments & countries in recent years and to forecast the values over the coming eight years, states the report.
To get a better idea of what this could mean for the industry and society as a whole, we spoke with Ida Lucente, Head of Marketing at John Snow Labs, an award-winning global data operations company, who said “If we get to say one thing, I’ll want to highlight the game-changing opportunity of using automated diagnosis tools to provide high-quality health care to all humanity. Most people on earth do not have access to trained healthcare specialists – ophthalmologists, psychiatrists, endocrinologists, radiologists, pathologists, cardiologists and so on. Many people don’t even have access to a modernly trained primary care physician.”
She adds “We’re not training enough of these doctors fast enough – the population in many countries is growing faster than the number of doctors. However, if we automatically diagnose a wide range of diseases and recommend the best treatment – which research can do today for a growing number of conditions – then we can give everyone the best level of care, wherever they are. If you consider health care a human right, which I do, then automation using AI techniques is the only viable way to make it universally available in this century.”
As our populations grow around the world, along with paperwork and records that need to be tracked, it is clear that technology will need to play a more prevalent role in how we operate and run our health care systems.