The Global Patient Registry Software Market is expected to be valued at USD 2.96 Billion in 2027 from USD 1.10 Billion in 2019, registering a CAGR of 13.9% through the forecast period. The exponential expansion of the market can be accredited to the ever-increasing demand for the development and application of more specialized and advanced treatments and medical technologies. The increasing application of EHRs in hospitals and other clinical settings is further projected to accelerate the expansion of the patient registry software market.
The application and usage of the patient registry data for real-time monitoring and evidence have exponentially risen in the past few years and is estimated to grow significantly over the forecast years. This is in turn estimated to bolster the market growth. Moreover, the increasing frequency and burden of chronic illnesses worldwide are further projected to bolster the market growth. The increasing initiatives of the government to improve the experiences of patients and minimize the healthcare-related expenses in developed and developing nations is further projected to add traction to the market growth.
However, increasing concerns related to security, privacy, and safety of the patient data and the scarcity of skilled medical professionals to maintain proper health records and reduce healthcare expenses is projected to impede the market expansion over the estimated timeframe. The increasing incidences of data breaches and hacks are also estimated to act as market restraining factors.
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Key Highlights from the Report:
- The commercial database segment is estimated to command the market growth over the projected timeframe owing to the availability of enhanced safety features, such as the support for data and vital documents generated in the Extensible Markup Language (XML).
- The disease registry sub-segment is foreseen to contribute significantly to the market share over the estimated timeframe. This can be accredited to increasing the application of disease registry software to efficiently identify the diseases’ nature and gaining a deeper understanding of the effects of various treatments and their outcomes.
- The population health management sub-segment is foreseen to grow at a CAGR of 14.2% throughout the estimated timeframe. The growth can be ascribed to increasing initiatives taken by the government to implement value-based care in the hospital and other healthcare facilities.
- The standalone sub-segment occupied a significantly large market share in 2019, accounting for a revenue share of 52.7% in the global market. The sub-segment is projected to command market growth in the coming years owing to the portable attribute of the standalone patient registry that can function anywhere without requiring the installation of operating systems.
- The government and third-party sub-segment are projected to grow significantly in the estimated timeframe due to increased patient registry software usage in several government organizations to treat patients affected by chronic illnesses, reduce healthcare-related expenses, and provide value-based care to the patients.
- North America dominated the global market in 2019 and is projected to account for a considerablemarket share owing to the increased government efforts to offer value-based care to the patients and the increasing regional presence of key providers of the patient registry software.
- Key companies operating in the industry include IQVIA Holdings, Inc., McKesson Corporation, ImageTrend, Inc., Optum, Inc., Phytel, Inc., Dacima Software, Inc., Premier, Inc., Telligen, Inc., International Business Machines Corporation, and Syneos Health Inc.
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For the purpose of this report, Emergen Research has segmented the Global Patient Registry Software Market on the basis of delivery, database, registry type, function, software type, end-user, and region:
Delivery Outlook (Revenue, USD Billion; 2017–2027)
Database Outlook (Revenue, USD Billion; 2017–2027)
- Public Database
- Commercial Database
Registry Type Outlook (Revenue, USD Billion; 2017–2027)
- Product Registries
- Health Service Registries
- Disease Registries
Function Outlook (Revenue, USD Billion; 2017–2027)
- Patient Care Management
- Population Health Management
- Product Outcome Evaluation
- Health Information Exchange
- Research & Clinical Studies
Software Type Outlook (Revenue, USD Billion; 2017–2027)
End-use Outlook (Revenue, USD Billion; 2017–2027)
- Government & Third-Party Administrators
- Pharmaceutical Companies
- Research Centers
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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