According to the new market research report "Patient Registry Software Market by Registry Type (Diabetes, Rare Disease, Cancer, Kidney), Software (Integrated, Standalone), Delivery (On Premise, Cloud), Functionality (PHM, HIE), Pricing Model, Database (Public), End User (Hospital) - Forecast to 2025", published by MarketsandMarkets™, 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.
Browse in-depth TOC on "Patient
Registry Software Market"
230 – Tables
38 – Figures
239 – Pages
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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 disease registries segment accounted for the
largest market share in 2019.
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 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.
The on- premise segment accounted for the largest
market share in 2019.
Based on the deployment model, the market is
segmented into on-premise model and cloud-based model. In 2019, on-premise
models held 82.6% of the global 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.
The PHM segment accounted for the largest market
share in 2019.
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.
The government organizations & TPAs segment
accounted for the largest market share in 2019
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 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.
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North
America was the largest regional market for patient
registry software market in 2019
The 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 market. The large share of North America in
the global market is attributed to the increasing need to integrate healthcare
systems, government funding for developing patient registries, rising focus on
PHM and HIE, increasing adoption of HCIT as a cost-containment measure, and the
participation of non-profit and private organizations in improving patient care
quality. Due to its growing geriatric population segment and environmental
conditions have favored the spread of COVID-19 which has severely affected the
region and ensured enormous growth in the demand for market. Players in this
and adjacent, or even non-related, markets have focused on or collaborated for
expanding the offerings in this market.
Some of the prominent players in the patient
registry software 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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