The global patient registry software market value was USD 1.10 Billion in 2019, which is expected to reach USD 2.96 Billion by 2027, and register a CAGR of 13.9% during the forecast period.
Vancouver, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The global patient registry software market is forecast to reach a value of USD 2.96 Billion by 2027, at a rapid and steady CAGR of 13.9%, according to results of a recent study and analysis by Emergen Research. Increasing prevalence of chronic diseases globally is expected to drive demand and adoption of more advanced and efficient software and approaches to maintain patient records among others, and this is expected to drive growth of the global patient registry software market over the forecast period. In addition, increasing government initiatives related to offering value-based care in developed and developing countries is further projected to result in accelerated growth of the global patient registry software market growth over the forecast period. Shift towards patient-powered research networks in the healthcare sector is also expected to drive growth of the global patient registry software market during the forecast period.
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However, lack or low availability of skilled or trained professionals to develop and maintain patient health records (to reduce healthcare costs) in the healthcare sector is expected to impact growth of the patient registry software market to a certain extent during the forecast period.
Key Highlights of Report
The on-premises segment is expected to register a stable CAGR of 13.9% over the forecast period. On-premise patient registry software offers benefits such as robust data transfer efficiency, reliable data recovery, and improved data and information protection and safety, which is expected to result in increasing preference and adoption at healthcare facilities.
Using patient registry software, healthcare workers can cooperate internationally for purposes of legally sharing data with the objective of enabling health advancements, and especially in conditions wherein need arises when a patient is suffering from a rare disease. Owing to these advantages and enhanced features and functionalities, demand and deployment of this software has been increasing, and is expected to continue to drive market growth.
Due to the growing introduction of patient registry software in the pharma companies to monitor accurate patient data for new medicine development, revenue from the pharmaceutical company segment is projected to increase substantially during the forecast period.
Due to increase in prevalence of chronic diseases among the geriatric population in countries in Asia Pacific, the market in this region is expected to register significant growth during the forecast period.
Key market participants include IQVIA Holdings, Inc., ImageTrend, Inc., McKesson Corporation, Optum, Inc., International Business Machines Corporation, Syneos Health Inc., Premier, Inc., Phytel, Inc., Telligen, Inc., and Dacima Software Inc.
In May 2020, NaviHealth, Inc. was acquired by Optum, Inc. Through this deal, Optum will incorporate NaviHealth's post-acute treatment model and data-driven expertise with the current population-based health services and clinical resources to deliver personalized, value-based care for patients with complicated health issues.
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Emergen Research has segmented the global Patient Registry Software market on the basis of delivery, database, registry type, function, software type, end-use, and region.
Delivery Outlook (Revenue, USD Billion; 2020–2027)
Database Outlook (Revenue, USD Billion; 2020–2027)
Registry Type Outlook (Revenue, USD Billion; 2020–2027)
Health Service Registries
Function Outlook (Revenue, USD Billion; 2020–2027)
Patient Care Management
Population Health Management
Product Outcome Evaluation
Health Information Exchange
Research & Clinical Studies
Software Type Outlook (Revenue, USD Billion; 2020–2027)
End-use Outlook (Revenue, USD Billion; 2020–2027)
Government & Third-Party Administrators
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Regional Outlook (Revenue, USD Billion; 2020–2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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