Healthcare Content Management System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Healthcare Content Management System market studied is expected to grow with an estimated CAGR of 12.4% over the forecast period.

The COVID-19 epidemic benefited the healthcare content management system industry by increasing the need for automated workflow for document and patient data management. The necessity of having data kept digitally for easier management and retrieval has grown due to COVID. It makes it simple to retrieve all patient-related content and the content of all patients suffering from a specific ailment. According to the World Health Organization, from January to April 2020, COVID has infected a total population of 3,059,642, with 211028 fatalities. As a result, healthcare content management results in being extremely useful for storing and retrieving data to analyze the COVID effect on the population.

The increase in the need to manage a huge influx of data for managing the data and resources and the rise in technological advancement are the key drivers for the healthcare content management system market. Also, an increase in the number of hospitals and clinics will result in a higher demand for healthcare content management systems. For instance, according to the data published by the American Hospital Association in 2022, there are about 6,093 hospitals in the United States. According to the same source, there are about 2,960, 1,228, 951, 207, 635, and 112 Nongovernment Not-for-Profit Community Hospitals, Investor-Owned (For-Profit) Community Hospitals, State and Local Government Community Hospitals, Federal Government Hospitals, and Nonfederal Psychiatric Hospitals respectively.

The healthcare content management systems improves the efficacy of the healthcare providers as it saves time through the automated workflow. The industry is growing because of better solutions and upgraded technologies, as well as increasing awareness of the need of having a modern healthcare system and better data management, resulting in more healthcare investments in technology than ever before. Therefore, this has resulted in deploying more healthcare content management systems than before and is a major reason for the growing market demand for the healthcare content management system.

For instance, in August 2021, Delhi government plans launch a cloud-based Health Information Management System (HIMS) to provide eHealth Cards and book online appointment with doctors at government hospitals. Also, In March 2022, Microsoft announced advances in cloud technologies for healthcare and life sciences with the general availability of Azure Health Data Services and updates to Microsoft Cloud for Healthcare.

However, the high cost of a healthcare content management system is expected to restrain market growth over the forecast period.

Key Market Trends

The Document Management System is Expected to Witness a High Growth During the Forecast Period

On paper, patient data management is quite difficult and time consuming task. Thus, a Healthcare content management system is quite beneficial in easing the process and providing a secure platform where data can be saved safely. Data backup and disaster recovery plans are included in a document management system resulting in the safety of documents against fire, flood, or other natural disasters. Furthermore, data from disease management programs and computerized EMR feeds are used by healthcare service providers. According to the article published in the University of Pittsburgh in January 2021, titled “The Role of Data Analytics in Health Care”, data management can result in better healthcare for patients, and better solutions can be provided with the help of data management.

Additionally, Rise in number of healthcare service provides such as hospitals is expected to drive the market. For instance, as per the article published in hospital management in December 2021, the top countries having a maximum number of new projects featuring new hospitals by end of 2022 would be China, the United States, and India. The United States is working on 54 new projects, followed by India having 37 new projects. China has a total of 25 new projects. An increase in hospitals will create in a large amount of patient data. Thus, it is anticipated to increase the demand for document management systems over the forecast period.

North America is Expected to Hold Major Share in the Healthcare Content Management System Market

North America is expected to dominate the global healthcare content management system market owing to high hospital spending in the region. For instance, according to the Center for Medicine & Medicaid Services in December 2021, United States federal government spending grew by 36% in 2020 which is significantly higher than the 5.9% growth in 2019. Also, according to the same source, Hospital expenditures grew 6.4% to USD 1,270.1 billion in 2020, slightly faster than the 6.3% growth in 2019. This is expected to increase the adoption of healthcare content management systems in the United States, thereby driving market growth.

In addition, the rise in mergers and acquisitions and the presence of key companies such as Microsoft, IQVIA, and IBM, among others are expected to drive the regional market. For instance, The Berndt Group (TBG) firm known as a customer experience firm specializing in healthcare digital transformations having expertise in content management systems was acquired by Valtech in April 2022.

Competitive Landscape

The healthcare content management system market is moderately competitive with the presence of several players in the industry. The key players in the market are Capgemini SE, Xerox Corporation, OpenText Corporation, IBM, Microsoft, Oracle, Dell Inc, Hyland Software Inc, IQVIA, and SAP.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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