Patient registry software (PRS)offers a registration toolbox that can aid in creating patient database. It isscalable, configurable, and offers cloud-based accessibility to the database.Public domain registry software and commercial registry software are the twotypes of PRS.
The global PatientRegistry Software Market is estimated to account for US$ 1,540.9 Mn interms of value and is expected to reach US$ 3,116.9 Mn by the end of 2027.
Global Patient Registry SoftwareMarket: Drivers
Emergence of pandemic diseases isexpected to propel growth of the global patient registry software market overthe forecast period. For instance, according to the World Health Organization,the number of cases of COVID-19 reached 2,402,250 as of April 22, 2020.
Global Patient Registry SoftwareMarket: Opportunities
Increasing adoption ofcloud-based PRS is expected to offer lucrative growth opportunities for playersin the global patient registry software market. Cloud-based PRS offers severaladvantages such as user-friendliness, scalability, and adaptability for anyhealth specialty or organization; capability to eliminate the need to purchasecostly, time-consuming, and bulky systems; boosts data collection speed andaccuracy; accelerates interoperability between the patient registry andelectronic health records; and eradicates challenges of patient identitymanagement across multiple data sources.
Global Patient Registry SoftwareMarket: Restraints
Syntactic interoperability(communication) issues, namely the inability of heterogeneous healthinformation systems to exchange data, are also expected to limit growth of themarket.
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Moreover, low adoption of PRS inemerging economies is also expected to hinder the market growth.
Key Takeaways:
The global patient registrysoftware market was valued at US$ 1,390.5 Mn in 2019 and is forecast to reach avalue of US$ 3,116.9 Mn by 2027 at a CAGR of 10.6% between 2020 and 2027.Factors such as increasing prevalence of diseases and increasing patient datais expected to support growth of the market.
Commercial Registry Softwaresegment held dominant position in the global patient registry software marketin 2019, accounting for 82.1% share in terms of value, followed by publicdomain registry software, respectively. Commercial organizations are indulgedin providing quality information, and access to large databases at premiumprices which is supporting growth of the segment.
Diabetes Registry segment helddominant position in the global patient registry software market in 2019,accounting for 39.3% share in terms of value, followed by cardiovascularregistry and cancer registry, respectively
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Market Trends
In North America, increasingprevalence of cardiovascular disease (CVD) is expected to boost demand for PRS.For instance, according to the American Heart Association's Heart and StrokeStatistics 2019 Update, around 48% of all adults in the U.S. suffered from sometype of CVD in 2016. In Africa, presence of fewer physicians and lack oftrained healthcare professionals is expected to boost demand for mHealth,thereby aiding in growth of the patient registry software market in the region.
Major organizations are focusedon developing COVID-19 registries. For instance, in April 2020, Blue Cross BlueShield of Michigan collaborated with 26 Michigan hospitals to collectcomprehensive clinical data on COVID-19 patients in a registry for enhancingCOVID-19 treatment.
Global Patient Registry Software Market:Competitive Landscape
Major players operating in theglobal patient registry software market include, Global Vision Technologies,Inc., Quintiles Inc., Dacima Software Inc., PatientCrossroads, MckessonCorporation, Liaison Technologies, and Imagetrend, Inc. and Evado eClinicalSolutions.
Global Patient Registry SoftwareMarket: Key Developments
March 2020: Phunware, Inc., afully-integrated enterprise cloud platform, launched a National VentilatorRegistry
December 2019: ESO, a data andsoftware company, acquired Digital Innovation, Inc., a service softwaresolutions provider. The company also partnered with DICORP for development intrauma registry.
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