While integration, security and privacy pose challenges, the technology reduces medical errors, promotes patient safety and satisfaction and improves the continuity of treatment by saving time, money, space and manpower.
New analysis from Frost & Sullivan (frost.healthcareIT.com), European Healthcare Document Management Systems Markets, finds that the market earned revenues of $530.6 million in 2008 and estimates this to reach $753.7million in 2014.
"The European healthcare document management systems market is characterised by strong demand and high growth rates," notes Frost & Sullivan Research Analyst Jayapradha T E. "There is considerable scope and opportunity for digital document management system vendors to provide a cost-effective and customised products."
Currently, the market is highly competitive and is experiencing consolidation. This has lead to the boom of customised, patient-oriented document management solutions with high performance, compliance and security levels. There has been a steady increase in European government initiatives to promote digital patient records and create a single database of patient information.
Even as the market expands, growth patterns will vary due to many factors. Multiple level security and privacy issues along with the difficulty of transferring information from paper to digital format and integrating new systems with legacy systems will constitute pressing challenges for market participants.
"Healthcare in Europe is increasingly focusing on optimising patient care," explains Jayapradha. "Security and privacy concerns at various levels coupled with the need to effectively integrate technologically sophisticated systems with legacy systems will need to be addressed by healthcare document management systems manufacturers."
With security and privacy issues in the limelight, vendors should make efforts to achieve standardisation. To create a mutually beneficial deal that would also benefit buyers, it is necessary to focus on product customisation through the development of partnerships with technology vendors.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European healthcare document management systems markets, then send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
European Healthcare Document Management Systems Markets is part of the Healthcare & Life Sciences IT Growth Partnership Services programme, which also includes research in the following markets: Regulations Affecting European Healthcare IT, Primary Care Information Systems Market in Europe, Pharmaceuticals and Drugs Market in Brazil, Laboratory Information Systems Market in Europe and European Market for Imaging in Healthcare. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan has expanded its flagship Global Congress on Corporate Growth - GIL Global - into several major cities around the world including London. For the first time ever in Europe, Frost & Sullivan will be hosting the Growth, Innovation and Leadership Congress 'GIL 2009: Europe' on 19-20 May, at the Sofitel St James in London. GIL Global is the industry's only event designed to support senior executives in their efforts to achieve sustainable, top-line growth. To register, obtain a programme agenda, explore sponsorship opportunities, or attend as a member of the media for GIL 2009: Europe, please contact Katja Feick, Corporate Communications Europe, at katja.feick[.]frost.com. One-on-One interviews with Frost & Sullivan senior growth consultants are also being scheduled. For more information you can also visit frost.com/gilglobal
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
European Healthcare Document Management Systems Market / M2CE