Growing use of EHRs across healthcare facilities and rising need for advanced and specialized patient care are some of the key factors driving market revenue growth
According to Emergen Research, the global patient registry software market size was USD 1.25 billion in 2020 and is expected to reach USD 3.37 billion in 2028 and register a revenue CAGR of 13.9% during the forecast period, 2021-2028.
Market Dynamics:
The global patient registry software market revenue growth can be primarily attributed to factors such as growing prevalence of chronic and acute diseases, rising rate of hospital admissions, growing need for advanced, specialized patient care, and increasing applications of electronic health records (EHRs) in healthcare facilities. Growing use of patient registry software for assessment of patient records and data for real-world evidence and post-marketing observation.
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increasing government investments in the healthcare sector, rising focus of healthcare organizations on improving quality of patient care and reducing healthcare costs, and rapidly advancing healthcare industry, especially in developing countries of the world are other major factors expected to drive growth of the global patient registry software market over the forecast period. However, the global market revenue growth is significantly restrained by increasing incidences of cyberattacks, rising concerns relating to privacy and security of patient data & information and information, and lack of skilled professionals with knowledge of EHRs.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Standalone Software Type Segment Accounted for Largest Revenue Share in 2020:
Based on software type, the standalone segment dominated in terms of revenue share contribution in the global patient registry software market in 2020. Increasing usage of standalone patient registry software owing to advantages such as high portability and easy use and useful features such as automatic software update that helps reduce maintenance costs is a major driving factor for the revenue growth of this segment.
Government & Third-party Administrators Segment to Register Fastest Revenue CAGR:
Based on end-use, the government & third-party administrators segment is expected to register the fastest revenue growth rate over the forecast period owing to favorable factors. Revenue growth of this segment is majorly attributed to increasing use of patient registry software in government healthcare organizations to control the rising healthcare burden and track appropriate patient data for development of new drugs and therapeutics.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America market patient registry software market accounted for largest revenue share in the global market in 2020. Increasing geriatric population, growing cases of chronic illnesses, rising government focus on providing value-based patient care, and presence of state-of-the-art healthcare infrastructure and leading patient registry software companies in the region are the key contributors to the North America market revenue growth.
Major Companies in the Market Include:
- IQVIA Holdings, Inc.
- ImageTrend, Inc.
- McKesson Corporation
- Optum, Inc.
- International Business Machines (IBM) Corporation
- Syneos Health Inc.
- Premier, Inc.
- Phytel, Inc.
- Telligen, Inc.
- Dacima Software Inc.
For the purpose of this report, Emergen Research has segmented the global patient registry software market based on delivery, database, registry type, software type, function, end-use, and region:
Delivery Outlook (Revenue, USD Billion; 2018-2028)
- Cloud-based
- On-premise
Database Outlook (Revenue, USD Billion; 2018-2028)
- Public Database
- Commercial Database
Registry Type Outlook (Revenue, USD Billion; 2018-2028)
- Product Registries
- Health Service Registries
- Disease Registries
Software Type Outlook (Revenue, USD Billion; 2018-2028)
- Integrated
- Standalone
Function Outlook (Revenue, USD Billion; 2018-2028)
- Point-of-Care
- Patient Care Management
- Population Health Management
- Product Outcome Evaluation
- Health Information Exchange
- Research & Clinical Studies
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Pharmaceutical Companies
- Research Centers
- Government & Third-party Administrators
- Others
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Region Outlook (Revenue: USD Million; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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