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(Medical-NewsWire.com, December 21, 2022 )
The global Patient Registry Software Market is projected to reach USD 2.8 billion by 2026 from USD 1.4 billion in 2021, at a CAGR of 15.0% during the forecast period.
Major Growth Driving Factors:
The growth of this market is mainly attributed to the shift toward computerized registries to provide users with an automated way to store data and create, sort, and display patient lists for use in planning, quality improvement, reporting, and direct care delivery. Also, rising number of accountable care organizations, high adoption of the subscription model, and the emergence of cloud-based patient registry solutions are expected to increase the demand for patient registry software in the coming years. The base year considered for the study is 2020, while, the forecast period is 2021 to 2026.
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By type of registry, the disease registries segment is expected to show the fastest growth rate in the patient registry software market during the forecast period.
On the basis of type of registry, the disease registries segment is expected to resgister the fastest growth rate during the forecast period. 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 are driving the market growth of this segment.
Government organizations and third party administrators segment dominates the patient registry software market, by end user in 2020
Based on end user, the government organizations and third party administrators segment dominates the partient registry software market. This end-user segment includes government bodies, non-profit organizations (NPO), regulatory bodies/authorities, public welfare associations and societies, third-party contractors, health maintenance organizations or non-profit health service plans, public payer organizations, and other government-operated organizations. Currently, governments and government organizations across the globe are focusing on building patient registries to use observational study data rather than experimental study data received through random drug trials. On the other hand, TPAs are building disease registry databases by collecting patient information from private and public hospitals and clinics.
Geographical Growth Dynamics:
Asia Pacific is expected to show fastest growth rate in the patient registry software market during the forecast period
Asia Pacific is expected to show fastest growth rate by region in the patient registry software market in 2020. Factors such as increasing incidence of chronic diseases, rising awareness about the benefits of EHRs, improvements in healthcare systems, the development of medical tourism in Asian countries, increasing government initiatives for the modernization of healthcare infrastructure, and the growing number of ongoing research activities are driving the growth rate of the patient registry software market in Asia Pacific.
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Key Players:
Some of the prominent players in this market are IBM Corporation (US), IQVIA Holdings (US), OpenText Corporation (Canada), Optum (US), Premier, Inc. (US), ArborMetrix, Inc. (US), FIGmd (US), McKesson Corporation (US), Syneos Health (US), Dacima Software, Inc. (Canada), ifa Systems AG (Germany), Medstreaming- M2S (US), ImageTrend, Inc. (US), Evado Clinical (Australia), WIRB Copernicus Group (US), Global Vision Technologies, Inc. (India), Conduent, Inc. (US), Elekta AB (Sweden), Cedaron (US), LUMEDX (US), Armus Corp (US), Phamax AG (Switzerland), and Versaform Systems Corp (US), ESO Solutions (US) and Ordinal Data, Inc. (US).
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