PUNE, India, July 25, 2016 /PRNewswire/ --
According to a new market research report "Patient Registry Software Market by Database Type (Drug, Device, Diabetes, Cancer, Asthma, CKD), Software (Integrated, Standalone), Delivery (On-Premise, Cloud), Functionality (PHM, HIE, POC), & End User (Government, Hospital, Pharma) - Forecasts to 2021", published by MarketsandMarkets, The global market is expected to reach USD 1,314.3 Million by 2021 from USD 734.7 Million in 2016, at a CAGR of 12.3% during the forecast period.
Browse 250 market data Tables and 54 Figures spread through 251 Pages and in-depth TOC on "Patient Registry Software Market"
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The growth of this market is mainly driven by factors such as increasing government initiatives to build patient registries, growing pressure to improve the quality of care and minimize healthcare costs, increasing adoption of electronic health records (EHRs), rising use of patient registry data for post-marketing surveillance, and increasing prevalence of chronic diseases. Moreover, factors such as rising number of accountable care organizations, growing adoption of cloud-based patient registry solutions and subscription models, and shifting focus towards patient-powered research network (PPRN) provide significant growth opportunities in the market. However, data privacy and security concerns and lack of resources with cross-functional skills may hinder the growth of this market during the forecast period.
The report segments the Patient Registry Software Market based on product type, pricing model, deployment model, database type, functionality, end user, and region. Based on product type, the Patient Registry Software Market is segmented into integrated and standalone software. The standalone software segment is expected to account for the largest share of the Patient Registry Software Market in 2016. The significant usage of standalone software by government organizations and TPAs for population health management is expected to drive the growth of the standalone software market during the forecast period. Based on product type, the Patient Registry Software Market is segmented into ownership and subscription models. The subscription models segment is expected to grow at the highest CAGR during the forecast period due to its advantages such as cost-effectiveness, flexibility, and ease of use.
Based on region, the Patient Registry Software Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is expected to dominate the market, followed by Europe. The increasing need to integrate healthcare systems, government funding for developing patient registries, rising focus on population health management and health information exchanges, and growing number of electronic databases, are driving market growth in North America. However, Asia-Pacific is poised to be the fastest-growing region during the forecast period. Factors such as large population base, rising prevalence of chronic diseases, improvement of healthcare systems, and ongoing research activities have generated a demand for registry databases in APAC and, subsequently, patient registry software in the region.
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The Patient Registry Software Market is a highly fragmented market, with several big and emerging players. Key market players include Global Vision Technologies, Inc. (U.S.), Dacima Software, Inc. (Canada), FIGmd, Inc. (U.S.), CECity.com, Inc. (U.S.), Liaison Technologies, Inc. (U.S.), Advertek Incorporated (U.S.), ImageTrend, Inc. (U.S.), Phytel, Inc. (U.S.), Velos, Inc. (U.S.), INC Research Holdings, Inc. (U.S.), Quintiles Transnational Holdings Inc. (U.S.), IFA Systems AG (Germany), McKesson Corporation (U.S.), Optum, Inc. (U.S.), M2S, Inc. (U.S.), and Telligen, Inc. (U.S.).
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