The growth of the market
is attributed to the growing implementation of government initiatives to build
patient registries, rising pressure to improve the quality of care and reduce
healthcare costs, rising adoption of EHRs, and growing use of patient registry
data for post-marketing surveillance. The rising number of accountable care
organizations, emergence of cloud-based patient registry solutions & high
adoption rate of subscription models, and shifting focus towards
patient-powered research networks (PPRNS) are expected to offer significant
growth opportunities for players in the coming years.
The global Patient Registry
Software Market is expected to reach USD 1,429.1 Million by
2022 from USD 807.4 Million in 2017, at a CAGR of 12.1%.
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Based on type of
registry, the market is segmented into product registries (medical device and
drug registries), health service registries, and disease registries (diabetes
registries, cardiovascular registries, cancer registries, rare disease
registries, asthma registries, chronic kidney disease registries, orthopedic
registries, and other registries). The disease registries segment is expected
to dominate the market in 2017. The growth of this segment can be attributed to
the factors such as increasing aging population, rising prevalence of chronic
and rare & new diseases, growing awareness on the role of registries in
health management, and increasing adoption of EHRs across the globe.
Based on end user, the
market is segmented into government organizations & TPAs (third-party
administrators); hospitals and medical practices; private payers;
pharmaceutical, biotechnology, and medical device companies; and research
centers. The hospitals and medical practices segment is expected to grow at the
highest CAGR during the forecast period. This growth can be attributed to
factors like increasing focus on improving the quality of patient care, growing
adoption of EHRs, and implementation of pay-for-performance initiatives.
In 2017, North America
is expected to account for the largest share of the market. Growth in the North
American market can largely be attributed to the presence of major patient
registry software developing players and the high adoption rate of these
solutions in the region. Other drivers include the increasing need to integrate
healthcare systems, government funding for developing patient registries,
rising focus on population health management & health information exchange,
increasing adoption of HCIT as a cost-containment measure, and increasing
participation of non-profit and private organizations in improving patient care
quality.
Key players in this
market include Phytel, Inc. (US), QUINTILES IMS HOLDINGS, INC. (US), Liaison
Technologies. (US), ImageTrend, Inc. (US), FIGmd, Inc. (US), McKesson
Corporation (US), CECity.com Inc. (a Premier, Inc. Company) (US), Dacima
Software Inc. (US), Global Vision Technologies, Inc. (US), ifa systems AG,
(Germany), INC RESEARCH HOLDINGS, INC. (US), M2S (A Medstreaming Company) (US),
Optum, Inc (A part of UnitedHealth Group Incorporated) (US), EVADO Pty. Ltd.
(Australia), and Velos, Inc. (US).
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