The growth of this market is mainly attributed to the shift toward computerized registries from paper-based registries, due to their advantages, is a key driver of market growth. The emergence of the COVID-19 pandemic and the increase in the number of COVID-19 patients globally is also expected to support the demand for patient registry software. Other considerations include the rising number of accountable care organizations, high adoption of the subscription model, and the emergence of cloud-based patient registry solutions. However, shortage of trained and skilled resources and privacy and data security related concerns hampered market growth to an extent.
The global Patient Registry
Software Market is projected to reach USD 2.4
billion by 2025 from USD 1.2 billion in 2020, at a CAGR of 14.4% from 2020 to
2025.
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Based on the type of registry, the patient registry software
market is segmented into product registries, health service registries, and
disease registries. The disease registries segment accounted for the largest
share of 67.2% of the patient registry software market in 2019. The large share
of this segment can be attributed to the increase in the aging population,
rising prevalence of chronic and rare & new diseases, growing awareness on
the role of registries in health management, and the adoption of EHRs across
the globe.
Based on the deployment model, the patient registry
software market is segmented into on-premise model and cloud-based model. In
2019, on-premise models held 82.6% of the global patient registry software
market. The large share of this segment can be attributed to the enhanced
control and safety of patient data, and the large number of COVID-19 patients
across the globe, which has driven the demand for registries.
Based on functionality, the population health management (PHM)
segment accounted for the largest market share of 28.9% in 2019. The large
share of this segment can be primarily attributed to the implementation of
favorable regulations, such as the ACA in the US.
Based on the end user, the patient registry software market is
segmented into private payers; hospitals & medical practices; research
centers; pharmaceutical, biotechnology, & medical device companies; and
government organizations & TPAs. In 2019, the government organizations
& TPAs segment accounted for the largest share of 33.9% of the global
patient registry software market. The large share of this segment can be
attributed to the emergence of the COVID-19 pandemic and the need for analyzing
patient data for better population health management.
The patient registry software market is segmented into five
major regions, namely, North America, Europe, the Asia Pacific, Latin America,
and the Middle East and Africa. In 2019, North America accounted for the
largest share of 48.9% of the global patient registry software market.
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Some of the prominent players in this market are Phytel,
Inc. (US), IQVIA Holdings, Inc. (US), OpenText Corporation (Canada),
ImageTrend, Inc. (US), FIGmd, Inc. (US), Syneos Health Inc. (US) and McKesson
Corporation (US).
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