Medical document management systems market to reach US$1.8b by 2032

In 2023, the solution segment accounted for around 60% of the market.

The medical document management systems (MDMS) market is projected to reach US$1.81b by 2032 with a compound annual growth rate (CAGR) of 12.48% from 2024 to 2032, according to a S&S Insider report.

The rapid growth of the market is linked to the increasing need for efficient management of vast healthcare data, including electronic health records (EHRs) and diagnostic reports, it noted.

By product, the solution segment accounted for around 60% of the market in 2023, driven by the increasing demand for integrated platforms.

By end use, the hospitals and clinics segment emerged as the largest (MDMS) market, accounting for about 51% of total revenue in 2023.

Moreover, the insurance providers segment is projected to grow at the highest CAGR of 13.75% driven by the increasing need for insurance companies to manage medical claims and patient data efficiently.

Meanwhile, the service segment is expected to grow at the fastest CAGR of about 13.54%, attributed to the rising need for consulting, implementation, and ongoing support services.

In 2023, North America led the MDMS market, capturing around 44% of the revenue share whilst the Asia Pacific region is expected to grow at the fastest CAGR of approximately 13.75%.

As countries like China and India modernise healthcare infrastructure, the need for scalable and cost-effective MDMS solutions is fueling market expansion in the region.