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Global Patient Registry Software Market Size, Trends, and Analysis - Forecasts To 2026 By Type of Registry (Disease Registries, Product Registries, Health Service Registries), By Type of Software (Integrated Software, Standalone Software), By Pricing Model(Ownership Model, Subscription Model), By Deployment Model (On-Premises, Cloud), By Functionality (Population Health Management, Point of Care, Medical Research & Clinical Studies, Product Outcome Evaluation, Patient Care Management, Health Information Exchange), By Type of Database (Public Database, Commercial Database), By End-User (Hospital & Medical Practices, Research Centers, Government Organizations& Third-Party Administrators, Private Players, Pharmaceutical, Biotechnology, and Medical Device Companies), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Patient registry technology is a registry that is used to collect a patients diagnostic or disease-related data, to monitor the number of new medical devices being used, and to administer new procedures and surgeries. Growing investments in healthcare infrastructure modernization and the increasing prevalence of infectious and chronic diseases worldwide are expected to drive market growth throughout the forecast period.Also, the rising need for software to operate enormous healthcare data is expected to witness significant growth for the market.Furthermore, the increasing number of care organizations clubbed with the growing adoption of EHRs and other eHealth solutions have benefited the market and will help the market grow exponentially.
The market can be split into standalone and integrated software, depending on the software. The standalone app would be the major shareholder in terms of sales in the industry due to its easy-to-use tools and innovative features. Therefore, it is highly informative and it is also very easy to retrieve data. Also, the standalone software automatically updates its features and helps to lower the overhead cost.
As per the registry-type outlook, the segment is divided into disease registries, product registries, and registries of health services.The disease registries segment is expected to see a significant growth rate in the period mentioned due to the rising incidence of new& rare diseases and increasing demand for the convergence of the healthcare system.These registries are also useful for monitoring patients to create new drugs for clinical trials.
According to the functionality, this market can be divided into six segments namely, population health management, point of care, medical research & clinical studies, product outcome evaluation, patient care management, and health information exchange. The population health management segment of this market would be the dominating segment as compared to the health information exchange. This is attributed to the growing demand for quality care and rising the adoption of PHM solutions is expected to boost the market growth.
This market can be split into the on-premises and cloud-based as per the deployment outlook. In 2019, the on-premise segment was analyzed to be the largest shareholder due to its quick recovery, data security, and easy accessibility. For heavy data file transfers and device updates, it is also useful. Owing to the confidentiality of data and personalized service offerings, pharmaceutical companies and research organizations typically prefer on-premise solutions.
The market is segregated into two types of databases namely; commercial and public databases. It is expected that the highest growth rate for commercial databaseswill grow faster than the other one during the forecast period. Such databases comply with government norms and coding, which further increases demand. Moreover, it provides a variety of benefits, such as a single point of contact for any business issue, timely up-gradation of software, and ease of use.
Hospital & medical practices, government bodies & TPA, pharmaceuticals, biotechnology companies, private players, research institutions, and medical device manufacturing companies are the segmentation of the market as per the end-user outlook. Because of the extreme emergence of the COVID-19 disease outbreak and the need to evaluate patient information for effective population health management, the government bodies & TPA would be the major shareholder in the market.
The North American region is anticipated to hold the largest market share from 2020-2026 over the expected timeframe. The increasing investment in R&D activities and the increasing incidence of chronic infectious diseases are expected to help the market be dominant. On the other hand, the market for Asia-pacific will be the fastest-growing region mainly due to the growing awareness about the advantages of EHRs and enhancement in the healthcare systems.
In this market, the main players competing are M2S, Phytel, Opentext Corporation, Figmd Cecity.Com, Global Vision Technologies, Mckesson Corporation, Optum, Evado Clinical, Arbormetrix, Healthdiary, Phamax Ag, Iqvia Holdings, Syneos Health, Imagetrend, Dacima Software, Ifa Systems Ag, Velos, Lumedx, and Cedaron,among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In June2020, ArborMetrix Inc. entered into an agreement with the Society of Interventional Radiology to establish the IR Quality Registry to optimize patient care through the integration of analytics
In April 2020, IQVIA Holdings launched the COVID-19 registry platform and the technology-powered trial matching solutions
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The Global Patient Registry Software Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Patient Registry Software Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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