Patient Registry Software Market, 2025 - Rising Number of Accountable Care Organizations, Emergence of Cloud-Based Patient Registry Solutions, High Adoption Rate of the Subscription Model
DUBLIN, Sept. 23, 2020 /PRNewswire/ -- The "Patient Registry Software Market by Registry Type (Diabetes, Rare Disease, Cancer, Kidney), Software (Integrated, Standalone), Delivery (On Premise, Cloud), Functionality (PHM, HIE), Pricing Model, Database (Public), End User (Hospital) - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Patient Registry Software Market is Projected to Reach USD 2.4 Billion by 2025 from USD 1.2 Billion in 2020, at a CAGR of 14.4% from 2020 to 2025.
The shift toward computerized registries from paper-based registries, due to their advantages, is a key driver of market growth. The emergence of the COVID-19 pandemic and the increase in the number of COVID-19 patients globally is also expected to support the demand for patient registry software.
Other considerations include the rising number of accountable care organizations, high adoption of the subscription model, and the emergence of cloud-based patient registry solutions. However, a shortage of trained and skilled resources and privacy and security related concerns hampered market growth to an extent.
Report Highlights
Diseases Registries was the largest and fastest-growing segment in the type of registry market in 2019
These registries include information on patients diagnosed with a specific disease. The main inclusion criterion that disease or condition registries use is the state of a particular disease or condition. Factors such as the increasing government initiatives to develop and maintain patient health records (to reduce healthcare costs) and the growing awareness about collecting and utilizing patient health information are driving the adoption of disease registries. The value of disease registries is increasingly being recognized as they provide historically comparable data and long-term evaluation, potentially serving as an addition to randomized clinical trials, and thus providing insights about real-site outcomes that limited controlled studies do not address. However, the development of disease registries might become costlier as the scope of the study increases.
Commercial Databases is the largest type of database segment in the patient registry software market in 2019
Based on the type of database, the patient registry software market is segmented into commercial databases and public databases. A growing number of pharmaceutical/drug manufacturing and medical device companies are opting for commercial databases owing to their use in a number of studies, including the identification of adverse effects of drugs/medical devices, post-marketing surveillance, and the study of population disease patterns. Commercial registries are generally privately funded or industry-sponsored and aim to gather patient-related data for continual delivery of quality care.
Government organizations & TPAs is the largest end-user segment in the patient registry software market in 2019
Based on the end-user, the patient registry software market is segmented into private payers; hospitals & medical practices; research centers; pharmaceutical, biotechnology, & medical device companies; and government organizations & TPAs. In 2019, the government organizations & TPAs segment accounted for the largest share of the global patient registry software market. The large share of this segment can be attributed to the emergence of the COVID-19 pandemic and the need for analyzing patient data for better population health management.
North America will continue to dominate the patient registry software market in 2025
The patient registry software market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America accounted for the largest share of 48.9% of the global patient registry software market. The large share of North America in the global market is attributed to the increasing need to integrate healthcare systems, government funding for developing patient registries, rising focus on PHM and HIE, increasing adoption of HCIT as a cost-containment measure, and the participation of non-profit and private organizations in improving patient care quality. Due to its growing geriatric population segment and environmental conditions have favored the spread of COVID-19 which has severely affected the region and ensured enormous growth in the demand for patient registry software. Players in this and adjacent, or even
Market Dynamics
Market Drivers
- Implementation of Government Initiatives to Build Patient Registries
- Rising Pressure to Improve the Quality of Care and Reduce Healthcare Costs
- Rising Adoption of Ehrs and Other Ehealth Solutions
- Growing Patient Volume Due to the Global Outbreak of COVID-19
- Growing Use of Patient Registry Data for Post-Marketing Surveillance
Market Restraints
- Privacy- and Data Security-Related Concerns
- Shortage of Trained and Skilled Resources
Market Opportunities
- Rising Number of Accountable Care Organizations
- Emergence of Cloud-Based Patient Registry Solutions
- High Adoption Rate of the Subscription Model
Market Challenges
- Lack of Interoperability and Integration
- Reluctance to Adopt Advanced Solutions
- Lack of Awareness
Industry Insights
Impact of COVID-19 on the Patient Registry Software Market
- Shifting Focus Toward Patient-Powered Research Networks
HCIT Expenditure Analysis
- North America
- Europe
- Asia Pacific
HCIT Adoption Trends in the US
Companies Mentioned
- Arbormetrix
- Cecity.Com
- Cedaron
- Dacima Software
- Evado Clinical
- FigMD
- Global Vision Technologies
- Healthdiary
- IFA Systems AG
- Imagetrend
- IQVIA Holdings
- Lumedx
- M2S
- Mckesson Corporation
- Opentext Corporation
- Optum
- Phamax AG
- Phytel
- Syneos Health
- Velos
For more information about this report visit https://www.researchandmarkets.com/r/ljw64j
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