Patient Registry Software Market Size, Share, Qualitative Analysis & Industry Growth Factors and is growing at a CAGR of 11.5% by 2029
Exactitude Consultancy
6 min read
Growth Drives implementation of government initiatives to build patient registries, rising adoption of electronic health records (EHR)
Luton, Bedfordshire, United Kingdom, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Patient Registry Software Market.
The global patient registry software market is expected to grow at 11.5% CAGR from 2022 to 2029. It is expected to reach above USD 4 billion by 2029 from USD 1.5 billion in 2020.
Patient registries are being developed by a rising number of pharmaceutical companies and patient foundations to investigate the treatment of uncommon diseases and disorders including hereditary diseases which drives market revenue growth in the market. The software can also be used to conduct a single, targeted research agenda, gathering data to answer a specific research question. For the past decade, patient registry data have increasingly been applied for post-marketing observation and real-world evidence.
The increase in the adoption of EHRs and other EHealth solutions across the globe acts as one of the major factors driving the growth of patient registry software market. The rise in the pressure to improve quality of care and reduce healthcare costs, and increase in the incidences of chronic diseases such as cancer, diabetes, and cardiovascular diseases accelerate the market growth. The wider implementation of EHR solutions in their healthcare practices for improving the delivery of healthcare services and government initiatives to build patient registries further influence the market.
Regional Opportunities- North America dominates the global patient registry software market and is also estimated to be the fastest growing region due to factors such as increasing government support for the development and implementation of patient registry software for population health management (PHM), point-of-care management, and health plan management. In addition, Europe is the second largest market.
Market Developments
Global Vision Technologies, Inc., (GVT) in partnership with the American Society for Parenteral and Enteral Nutrition (A.S.P.E.N.) announce the launch of Sustain , LLC, A.S.P.E.N.’s new online patient registry software solution for nutrition support therapy cases in the United States.
Patient Registry Software Market Scope and Segmentation
Report Feature
Details
Base Year:
2021
Projection Period:
2022-2029
Market Details:
Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region
Segment Covered:
By Treatment, by End User, by Region.
Regional and Country Scope
North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
Report Coverage:
Market growth driving factors, challenges & pitfalls, opportunities, trends, key players analysis, and region analysis
Market Players Covered
Phytel, Inc. (An IBM Corporation Company) (U.S.), Quintiles IMS Holdings, Inc. (U.S.), Liaison Technologies. (U.S.), ImageTrend, Inc. (U.S.), FIGmd, Inc. (U.S.), McKesson Corporation (U.S.) (Change Healthcare), CECity.com Inc. (U.S.) (A Premier, Inc. Company) , Dacima Software Inc. (U.S.), Global Vision Technologies, Inc. (U.S.), ifa Systems AG, (Germany), and Optum, Inc. (A part of UnitedHealth Group Inc) (U.S.)
Largest regional market
North America (35%)
market growth
Additionally, surge in healthcare expenditure, high disposable income, rise in prevalence of geriatric population, advancements in healthcare infrastructure and use of patient registry data for post-marketing surveillance positively affect the patient registry software market. Furthermore, increase in number of accountable care organizations and emergence of cloud-based patient registry solutions extend profitable opportunity to the market players in the forecast period of 2022 to 2029.
On the other hand, privacy- and data security-related concerns and shortage of trained and skilled resources are expected to obstruct the market growth.
Another factor driving the market growth include implementation of government initiatives.
Certain factors that are driving the market growth include implementation of government initiatives to build patient registries, rising adoption of electronic health records (EHR), and increasing use of patient registry data for post marketing surveillance. Factors that drive the growth of the patient registry software market include increase in usage of electronic health records (EHRs), rise in prevalence of chronic disorders, growth in usage of the stored data for post-marketing surveillance, and surge in government initiatives to build patient registries.
However, lack of maintenance of important private data and dearth of skilled resources restrain the market growth. Rise in number of accountable care organizations and emergence of cloud-based patient registry solutions are expected to provide growth opportunities for the market.
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