As per our research report, the global patient registry software market is anticipated to be USD 1.82 billion in 2022 and will achieve USD 4.13 billion by 2027, growing at a CAGR of 17.72% from 2022 to 2027.
A patient registry is a database that stores patient details and health condition details. Medical researchers use patient registry data to develop new drugs for chronic diseases. Different patient registries are based on diseases like diabetes, cancer, cardiovascular disease, etc. This registry contains the patient’s data related to a single disease so that healthcare staff feels easy to find a particular patient’s records for further analysis.
What is the impact of COVID-19 on the patient registry software market?
Covid-19 has affected every industry in the world. Due to the increase in Covid-19 cases, the Patient registry software market has had favorable growth. During the Covid-19 pandemic, healthcare providers face challenges in providing require several vaccines and products to patients in an unparalleled manner. At this time patient registry is used to find how many health-related products and vaccines should be needed in a particular area. The covid-19 infection affects people suffering from chronic respiratory disease, hypertension, cardiovascular disease, diabetes mellitus, and cancer. Giving general covid-19 medication to these people may lead to death. In this situation, doctors take the help of this patient registry, analyze the patient’s condition, and give appropriate medicine to reduce the virus. Due to the increasing use of patient registry software in various sectors, the market has grown during the forecast period.
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What are the factors driving the patient registry software market?
Using patient registry software in the health care system is one of the significant drivers of market growth. In the healthcare system, it is used to collect data about patients and their health conditions to give personalized treatment to the patient. This registry also stores patients monitoring values for further use. As a result, this helps the doctor to make better decisions about patient health. Researchers and clinical institutions also use the patient registry for investigations of medicine related to cancer, diabetes, and heart-related diseases. By analyzing all the previous data stored in the database, the researcher can identify the cause of the diseases.
Cloud-based patient registry software provides opportunities for market growth. Cloud-based patient registries can be accessed from anywhere in the world. Computing is done by a group of remote servers that form a network. Nowadays, many healthcare providers and insurance companies are using this registry software to get all the information about the disease listed top of the world. A large amount of data in the register can be stored in the cloud and can access at any time. The increasing use of electronic health records also drives the market. Connecting registers with EHR will become more important in the coming years. As a result, we can systematically get very informative data to get the patient outcome quickly for the treatment.
What are the factors restraining the patient registry software market?
Factors such as the high cost of software, lack of skilled professionals for using the software, and lack of awareness are majorly restraining the growth of the patient registry software market. In addition, data sharing issues, accepting advanced software, and lack of confidentiality in securing information are anticipated to challenge the market’s growth rate during the forecast period.
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SEGMENTS COVERED UNDER THIS REPORT:
By Type of Software:
- Stand-alone Software
- Integrated Software
By Type of Registry:
- Disease Registries
- Health Service Registries
- Product Registries
- Population Health Management
- Patient Care Management
- Health Information Exchange
- Medical Research & Clinical Studies
- Government Organizations & Third-Party Administrators
- Hospitals and Medical Practices
- Private Payers
- Pharmaceutical, Biotechnology, and Medical Device Companies
- Research Centers
- North America
- Latin America
- Middle East and Africa
KEY MARKET INSIGHTS:
Based on the end-user, the Government Organizations & Third-Party Administrators segment led the market in 2021. Compared to commercial use, governments are using this register more. This registry helps the government more during this pandemic situation. Government can take care of people by collecting the information from the registry.
Due to using patient registry software more in this region, the Asia Pacific region has dominated the market during the forecast period. This is mainly due to the rising demand for data collection in various health organizations. Increasing the use of patient registers will help to better the healthcare system. The Japanese Association of Healthcare Information Systems Industry noted that from 2018 the is an increased rate in the adoption of patient registries in this region.
North America is immediately next to the APAC region accounting for the global market share and registering the highest CAGR. The U.S. holds a significant chunk of the North American market due to increasing cancer cases. In 2022, according to the National Program of Cancer Registries and the North American Association of Central Cancer Registries, 1,918,030 new cancer cases and 609,360 cancer deaths occurred in the United States, showing that 350 deaths per day are the leading cause of cancer death. Canadians launched a Canadian Neuromuscular Disease Registry (CNDR) registry in 2010. It is used to increase research activities, clinical trials, and knowledge about the history and prevalence of the neuromuscular disease across Canada. More than 4,000 patients enrolled in the registry in 2019.
Europe’s patient registry software market is anticipated to have a moderate CAGR during the forecast period. European Medicines Agency uses this patient registry for easy access to medicine and is used for the invention of advanced therapies. In addition, the German Society of Infectious Diseases (DGI) created a patient registry to collect information on all clinical data and diseased patients in Europe.
KEY MARKET PARTICIPANTS:
- IQVIA Inc.
- FIGmd Inc.
- Evado Clinical
- Open Text Corporation
- IBM Corporation
- Mckesson Corporation
- Dacima Software Inc.
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LATEST INDUSTRY DEVELOPMENTS:
- In 2021, ESO, a leading software company, partnered with the Virginia EMS System to create a state-wide EMS data repository and trauma registry.
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