Personal Health Record Software Industry Overview
The global personal health record software market size was valued at USD 7.07 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% over the forecast period.
Factors such as growing demand for centralizing & streamlining healthcare information, increasing demand for cloud-based software for dealing with individual data, and rising initiatives to promote patient-centric care will drive the market during the forecast period. For instance, in March 2018, Apple introduced Personal Health Record (PHR) program after two months of a pilot project to enhance patient engagement. The COVID-19 pandemic has toppled the way of work and life, generating an immediate requirement for digital tools as businesses across all sectors and regions augmented their digital revolution efforts and moved their products & services online.
Gather more insights about the market drivers, restrains and growth of the Global Personal Health Record Software Market
In earlier days, numerous patient records were controlled by healthcare groups and, usually, the records lived in siloes that prevented healthcare practitioners from sharing health information. Thus, the pandemic has enforced healthcare groups to share individual’s medical records in a set-up that is meaningful and effortlessly accessible.
These rules are intended to advance the ability of individuals to access their health data. One rule needs healthcare groups to make health record data available electronically through broadly used technical standards. The other forbids “information blocking,” where healthcare groups place excessive practical, cost, and technical barriers to the sharing of health information. Overall, the COVID-19 pandemic positively affected the market growth. The market growth is attributed to the high acceptance of advanced technologies to cater to rising customer needs.
Moreover, rising awareness among urban patients about medical information storage and management, and increasing government initiatives to encourage paperless data integration in the healthcare sector are expected to support the market growth. However, concerns over individual health data security are forming barriers. This, in turn, is affecting patient engagement initiatives and limiting the adoption of PHR solutions among end-users.
Browse through Grand View Research's Healthcare IT Industry Research Reports.
- Electronic Health Records Market - The global electronic health records market size was estimated at USD 27.2 billion in 2021 and it is anticipated to expand at a CAGR of 4.0% from 2022 to 2030. Government initiatives to encourage healthcare IT usage is the key driver to this market.
- Healthcare IT Market - The global healthcare IT market size was valued at USD 135.6 billion in 2021 and is projected to exhibit a CAGR of 29.3% in the forecast period. The growing trend of digitalization in healthcare, rising demand for preventive care solutions, the emergence of various entrepreneurship ventures, and growing partnerships & funding are propelling the market growth.
Personal Health Record Software Market Segmentation
Grand View Research has segmented the global personal health record software market on the basis of component, deployment mode, architecture type, and region:
PHR Software Component Outlook (Revenue, USD Million, 2016 - 2028)
- Software & Mobile Apps
- Services
PHR Software Deployment Mode Outlook (Revenue, USD Million, 2016 - 2028)
- Web-based
- Cloud-based
PHR Software Architecture Type Outlook (Revenue, USD Million, 2016 - 2028)
- Payer Tethered
- Provider Tethered
- Standalone
PHR Software Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Rest of the World
Market Share Insights
- April 2021: The Department of Health and Human Services Office of the National Coordinator for Health Information Technology, together with the Centers for Medicare & Medicaid Services, issued two new rules to come into force.
- August 2020: The government of India announced the introduction of the National Digital Health Mission.
- March 2020: Knapsack Health launched a free PHR software for individuals, families, and caretakers.
- February 2019: Fujitsu proclaimed Fujitsu Healthcare Solution Healthcare Personal Service Platform. This new Platform-as-a-Service (PaaS) can aggregate and integrate an individual’s PHR.
Key Companies profiled:
Some prominent players in the global personal health record software market include
- Healthspek
- Health Companion
- NoMoreClipboard
- Patient Ally
- Records For Living, Inc.
- Practice Fusion, Inc.
- SoftClinic Software
- Knapsack Health
- 75Health (Kaaspro)
- Zapbuild
- Validic
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