The healthcare content management system market was $318.2 million in 2013 and is estimated to to reach $715.4 million in 2019. The developed countries such as Europe and the U.S. are expected to witness steady demand for healthcare content management system solutions in the forecast period. Asia-Pacific on the other hand will witness significant growth especially in Australia, India and China.
Healthcare content management system is increasingly been adopted in healthcare to manage huge influx of data for efficient management of operational resources. The use of healthcare content management has encouraged healthcare providers to use various healthcare information technologies (IT) which has led to increase in their efficiency and quality of care. Various healthcare content management system providers are attracted by the vast opportunities available in this segment of the market. The traditional enterprise content management providers have entered the healthcare space. Of these some of the vendors are focusing specifically on ECM software products while others are extending their product offerings to healthcare providers. The market on the other hand is affected by the external factors such as the reduction in the addressable market size of end users due to the shrinkage in the number of hospitals as a result of shutdowns or due to strategic agreement deals. With various advantages in technology, an increasing number of healthcare organizations are shifting from on-premise to hosted (web-based) models. While a number of online storage vendors are offering web-based backup systems, healthcare organizations have concerns regarding patient data confidentiality.
The major factors driving the healthcare content management system market are increasing investments from life science and healthcare industry, exponential increase in healthcare data, and the increasing cloud and other emerging solution platforms that have revolutionized the healthcare content management system market. Security concerns with cloud and mobile healthcare content management system platforms pose a major challenge for the emerging solutions in the industry. Challenges in understanding the requirements of the end users by healthcare content management system vendors about the complete usability and advantages of healthcare content management system suits will hinder the progress of the market. Integration of healthcare content management system with electronic health records (EHR) will present new opportunities for healthcare providers to achieve the best patient outcomes while reducing the costs of information-gathering, management, and sharing. Companies such as IBM, Microsoft, Oracle, EMC Corporation, OpenText, Hyland Software, Cisco, Xerox, and SAP are the major players in the market of Enterprise Content Management.
The healthcare content management system market is segmented into traditional solution, emerging solution, deployment type and by geography. The traditional solution is further sub-segmented into document management, document imaging and capture, web content management, records management, document collaboration, digital rights management, content analytics, rich media management, advanced case management, document output management, and workflow management. The emerging solution is further divided to social content management, mobile content management, big data management, and cloud content management. On the basis of deployment type the market is further divided to Hosted, and on-premises. By geography the healthcare content management system market is segmented into North America, Europe, Asia-Pacific and Rest of the World.