Market Analysis
The patient registry software market is likely to touch USD 1,998.83 million at an 11.08% CAGR between 2018-2025, as per the recent Market Research Future (MRFR) report. Patient registry software, simply put, is a database that is used for collecting data related to the condition of the patient or diagnosis for noting the use of new medical devices or going through a novel process. Disease registries, product registries, health service registries, and others are the different types of the patient registry software.
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Numerous factors are adding to the global patient registry software market growth. These factors, according to the recent MRFR report, include increasing use of patient registry data for post-marketing surveillance, rising use of EHRs, increasing pressure to reduce healthcare costs and improve the quality of care, and initiatives undertaken by the government to build patient registries.
On the contrary, lack of skilled and trained resources and data security-related and privacy concerns are factors that may limit the global patient registry software market growth over the forecast period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global Patient Registry Software Market based on end user, deployment model, functionality, and type of registry.
By type of registry, the global patient registry software market is segmented into disease registries, product registries, health service registries, and others. Disease registries are special databases that have information about those diagnosed with a particular disease. They are mostly population-based or hospital-based. Product registries help to collect information about the efficacy/safety profile of any medicinal product. Health service registries provide information utilized in health services management. They rest on service generated data obtained from patient-provider interactions and health facilities. Of these, disease registries will lead the market during the forecast period.
By functionality, the global patient registry software market is segmented into patient care management, population health management, health information exchange, and others.
By deployment model, the global patient registry software market is segmented into on-premise cloud and cloud. Of these, the cloud will dominate the market during the forecast period.
By end user, the global patient registry software market is segmented into research centers, government organizations, hospitals & clinics, and others. Of these, government organizations will have a major share in the market during the forecast period.
Regional Analysis
By region, the global patient registry software market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will dominate the market during the forecast period for the development of digital infrastructure in healthcare and the presence of well-established EHRs.
The global patient registry software market in Europe is predicted to hold the second-largest share in the market over the forecast period for the various government initiatives to reduce the increasing pressure to augment the quality of care and reduction of healthcare costs.
The global patient registry software market in the MEA will have gradual growth for the rising awareness about patient registry software.
Key Players
Key players profiled in the global patient registry software market report include Dacima Software Inc. (Canada), IFA SYSTEMS(Germany), LUMEDX(US), Optum, Inc. (US), IBM(US), ArborMetrix (US), Evado Pty. Ltd (Australia), Open Text Corporation (Canada), McKesson Corporation (US), and IQVIA(US), Phamax (Europe). Industry players have incorporated several strategies such as mergers, acquisitions, strategic alliances, collaborations, new product launch and development, and others to strengthen their position in the market.
Industry News
February 2020: The Melanoma Research Foundation’s CURE OM initiative has joined hands with Massachusetts General Hospital Cancer Center to launch the first-of-its-kind OM (ocular melanoma) patient-reported and patient-powered registry.
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