Development of Digital Infrastructure in Healthcare and Increasing Increase in Use of Patient Registries Drive Patient Registry Software Market
According tour latest study on “Patient Registry Software Market Forecast t2027 – COVID-19 Impact and Global Analysis – by Software, Database, Registry, Mode of Delivery, and Pricing Model,” the market was valued at US$ 930.06 million in 2019 and it is projected treach US$ 2,426.58 million by 2027; it is expected tgrow at a CAGR of 12.9% during 2020–2027. The report highlights trends prevailing in the market, and drivers and restraints pertaining tits growth. The market growth is mainly attributed tdevelopment of digital infrastructure in healthcare, and increasing increase in use of patient registries. Furthermore, emergence of cloud-based patient registries is offersing lucrative opportunities tthe market players. However, the threats of data breach are hinderings the market growth.
In December 2020, the European Union (EU) awarded US$ 66 million tvarious digital health projects with an aim tfight against health crisis—, such as COVID-19 outbreak—, and tconsolidate digital and artificial intelligence (AI) infrastructure in Europe. This financial assistance encourages digital health companies tdevelop and introduce advanced products in the patient registry software market. Further, in January 2021, MedTech Europe announced its plans tregulate utilization of digital health in Europe timprove the quality of healthcare and deal with health crisiscrises, such as the COVID-19 outbreak. Moreover, in 2017, the former president of the US (Barack Obama) introduced the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009. This legislation offered financial incentives thealthcare providers tincorporate IT solutions in various processes, whereas enforced financial penalties on those whdid n’ot. This initiative led tmassive increase in the adoption of electronic health records (EHRs) and patient registries for the evaluation of specified outcomes for patients whare suffering from a particular disease or condition. The healthcare ecosystems in the Middle East and & Africa are alsthriving due tthe adoption of modern health infrastructure. In December 2020, the collaboration of the Ministry of Health and Prevention’s Riayati and Pure Health announced its plan tlaunch National Unified Medical Record system in 2021. The new system will would be connected tmore than 3,000 private and public healthcare institutions in Dubai. It will would enable experts tcollect patient data for further data analysis. In addition, the UAE government stated that the new technology will would offer an efficient solution for population health management along with world-class digital health infrastructure management for healthcare institutions. Therefore, the surging incorporation of digital tools in the healthcare structure is drivinges the growth of the patient registry software market.
Cedaron, Dacima Software Inc., EvadClinical, FIGmd Inc., IBM Corporation, IQVIA Inc., Lumedx, McKESSON Corporation, Medstreaming, and Open Text Corporation are among the players operating in the patient registry software market. These players are focusing on product development and innovation tsustain their market positions.
The report segments the global patient registry software market as follows:
By Software
By Database
By Type of Registry
- Product Registry
- Disease Registry
- Cardiovascular Disease Registry
- Others
- Health Service Registry
By Mode of Delivery
By Pricing Model
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South and Central America
- Brazil
- Argentina
- Rest of South and Central America
