[307 Pages Report] Flourishing at a CAGR of 8.8% from 2022 to 2032, the global patient registry software market is expected to procure US$ 4.4 Billion by 2032, against US$ 1.9 Billion in 2022. Increased revenue can be attributed to the increasing prevalence of chronic diseases and the rising geriatric population.
Growing incidences of chronic diseases across the globe are expected to drive the patient registry software market in the forecast period. With the growing cases of cancer, diabetes, and cardiovascular diseases, among others, there has been a significant rise in demand for EHRs, which will benefit the market in the forecast period.
Increasing application of electronic health records and growing usage of stored data for post-marketing surveillance and implementation of favorable government initiatives are expected to play a significant role in strengthening the market in the forecast period. Also, with rising pressure to lessen costs and increasing access to social media and mobile technologies, the healthcare sector is experiencing a significant transformation, which is expected to benefit the patient registry software market in the forecast period.
| Attributes | Details |
|---|---|
| Patient Registry Software Market CAGR (2022 to 2032) | 8.8% |
| Patient Registry Software Market Size (2022) | US$ 1.9 Billion |
| Patient Registry Software Market (2032) | US$ 4.4 Billion |
Increasing investment in clinical trials by various biotechnological and pharmaceutical enterprises is anticipated to offer significant opportunities to the market. In June 2019, CloudPWR announced a strategic partnership with Accela. The initiative will assist in tapping the volume-based consumption of medical cannabis to reduce misuse.
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Increasing adoption of EHRs in the healthcare sector is expected to be the key factor benefitting the global patient registry software market during the forecast period. Growing initiatives by the various government to implement strategies to lessen regulatory and administrative responsibilities on healthcare providers are expected to play a salient role in driving demand for EHRs in the healthcare sector thereby, benefitting the patient registry software market.
For instance, on December 13, 2016, the USA introduced Cures Act, which aims to enhance medical product development and offer innovative and advanced medical technology. Such initiatives are expected to drive the demand for EHRs, thus, benefitting the market during the assessment period.
With the incorporation of AI into electronic health record solutions, the market is expected to experience a notable expansion. Various players are aiming to incorporate the technology in the EHRs through voice recognition capabilities.
For example, a physician can access a voice-based HER solution to analyze a patient’s last recorded medical reports. In October 2019, various scripts along with Northwell Health inked an agreement to produce the next-generation electronic health record. The initiative is expected to support massive revenue generation, thereby, fuelling the market expansion in the coming time.
Over the last few years, there has been a rise in demand for EHRs in various countries. This can be attributed to the growing demand for robust health information technology, which is important to achieve fine-quality services at affordable prices.
The increasing application of EHRs in the healthcare sector helps in result management, analyze health information and data, and decision support, which is anticipated to strengthen the market in the forecast period.
The emergence of cloud-based EHR software is expected to offer significant market opportunities during the assessment period. Such solutions offer more advanced and developed approaches. Moreover, the installation expenses for the system are cheaper than the client server-based systems. Also, such methods eliminate the requirement for in-house maintenance, which is expected to offer significant opportunities to the patient registry software market.
Other benefits offered, such as; low-cost maintenance, low licensing, cheaper start-up cost, and wider accessibility are other salient factors that can offer various avenues of opportunities to the market in the forecast period. Moreover, these solutions do not demand any major capital investment for hardware and offer swift data transfer between enterprises. Owing to such benefits, the demand for cloud-based software is expected to witness considerable opportunities in the coming time.
In April 2020, Allscripts launched a COVID-19 package of solutions for healthcare institutions. The Allscripts Hospital Management Package offers a series of COVID-19 workflows that recognizes disease-specific demands within SunriseTM EHR, Allscripts Care Director, and Paragon EHR.
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Concerns associated with data privacy and security are expected to impact the market negatively in the forecast period. The breach of data can result in the exposure of confidential details of a large number of patients. Moreover, there have been various cases of data breaches.
About one-third of data breaches lead to medical identity theft, principally because of a lack of internal control over patient information, conventional policies, and a dearth of personnel expertise. As per the Identity Theft Resource Center, the USA recorded about 1.473 breaches in 2019, a rise of 17% against 2018.
There has been a reluctance in adopting modern solutions, and enterprises yet rely on paper paper-based solutions. Small and rural areas continue to use conventional paper-based registry methods. Also, several hospitals do not encourage the application of such approaches owing to the lack of expertise and various costs included in the implementation of such software.
In April 2022, the GHT Coeur Grand Est. Hospitals, a Northeast France-based healthcare institute, had to disconnect all outgoing and incoming Internet connections after they suffered from a cyberattack that resulted in the theft of administrative and patient data.
Based on type, the global patient registry software market can be segmented into public domain registry software and commercial registry software. As per the analysis, the commercial registry software is expected to lead the market in the assessment period. The segment is projected to expand at a CAGR of 9.3% from 2022 to 2032.
The growth of the segment can be attributed to the rapid adoption of electronic health records and various other HCIT solutions in healthcare institutions. Various regulatory bodies are encouraging the adoption of HER solutions to enhance the delivery of healthcare services, which is anticipated to strengthen the segment in the forecast period.
Based on the disease area, the diabetes registry segment is anticipated to dominate the market in the forecast period. The segment is projected to flourish at a CAGR of 9.3% from 2022 to 2032. The growth of the segment can be attributed to the rising number of diabetic patients across the globe. As per the World Health Organization, about 422 million across the globe suffer from diabetes.
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How will North America emerge as an Opportunistic Market?
According to the latest reports by FMI, the North American patient registry software market is expected to dominate the market during the forecast period. The analysis reveals that the region is projected to be dominated by the USA, with a CAGR of 9.5% from 2022 to 2032. The USA is likely to garner US$ 1.5 Billion by 2032.
The growth of the region can be attributed to the expanding target population along with the growing prevalence of diseases. Moreover, favorable initiatives taken by the government are likely to propel the market in the region. Players in the region are taking various efforts to make patient registry software clinical research-friendly and user-interactive software. In August 2019, IQVIA announced a web-based solution for the enlistment of clinical trial information.
Will APAC be an Important Investment Destination for Patient Registry Software Providers?
APAC is anticipated to be the fastest-growing region during the forecast period. As per the analysis, the region is projected to expand at a significant CAGR from 2022 to 2032. China is expected to lead the market, flourishing at a growth rate of 10.5% during the forecast period. Japan is expected to expand at the second-highest CAGR of 9% during the said period of assessment.
On the other hand, India and South Korea have been recognized with some lucrative opportunities. The growing need to eliminate medical errors and increased diagnostics errors are expected to play a significant role in driving the market in the region.
Also, growing awareness about the benefits of EHRs, development in healthcare systems, and rising medical tourism in APAC are other important factors propelling the market in the assessment period. In addition, the implementation of favorable initiatives by the government is expected to augment the market size in the region. In May 2018, the government of South Korea made an investment of US$33.4 Million to develop AI systems that would analyze a patient’s medical registry for better diagnostics. Similarly, in 2019, Fujifilm established FUJIFILM VET Systems in Japan to enhance the adoption of the cancer registry software.
| Country | Projected CAGR |
|---|---|
| USA | 9.5% |
| Brazil | 9.4% |
| China | 10.5% |
| Japan | 9% |
| Australia | 8.5% |
Key players in the global patient registry software market include Dacima Software Inc., Evado eClinical Solutions, IQVIA, Global Vision Technologies Inc., and Invitae. Recent Developments among key players are:
The global patient registry software market is anticipated to secure US$ 1.9 Billion in 2022
The expected CAGR of the market is 8.8% from 2022 to 2032
The USA is projected at US$ 1.5 Billion by 2032 with regard to the patient registry software market.
China is expected to expand at a CAGR of 10.5% from 2022 to 2032
The commercial registry software segment is projected to expand at a CAGR of 8.9% from 2022 to 2032
Japan is anticipated to expand at a CAGR of 9% during the forecast period by 2032.
1. Preface | Patient Registry Software Market
1.1. Report Description
1.2. Report Scope
1.3. Research Methodology
1.3.1. Primary Research
2. Executive Summary
2.1. Market Snapshot: Global Market
2.2. Global Market Revenue, 2015 to 2032 (US$ Million) and Y-o-Y Growth (%)
3. Global Market Analysis, 2015 to 2032 (US$ Million)
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunities
3.2. Key Trends Analysis
3.3. Global Market Analysis, By Type, 2015 to 2032 (US$ Million)
3.3.1. Public Domain Registry Software
3.3.2. Commercial Registry Software
3.4. Global Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
3.4.1. Diabetes Registry
3.4.2. Cardiovascular Registry
3.4.3. Cancer Registry
3.4.4. Rare Disease/Orphan Disease Registry
3.4.5. Other Chronic Disease Registry
3.5. Global Market Analysis, By End-User, 2015 to 2032 (US$ Million)
3.5.1. Government
3.5.2. Commercial
3.6. Competitive Landscape
3.6.1. Market Positioning of Key Players, 2014
3.6.2. Competitive Strategies Adopted by Leading Players
4. North America Market Analysis, 2015 to 2032 (US$ Million)
4.1. Key Trends Analysis
4.2. North America Market Analysis, By Type, 2015 to 2032 (US$ Million)
4.2.1. Public Domain Registry Software
4.2.2. Commercial Registry Software
4.3. North America Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
4.3.1. Diabetes Registry
4.3.2. Cardiovascular Registry
4.3.3. Cancer Registry
4.3.4. Rare Disease/Orphan Disease Registry
4.3.5. Other Chronic Disease Registry
4.4. North America Market Analysis, By End-User, 2015 to 2032 (US$ Million)
4.4.1. Government
4.4.2. Commercial
4.5. North America Market Analysis, By Region, 2015 to 2032 (US$ Million)
4.5.1. United States of America
4.5.2. Rest of North America
5. Europe Market Analysis, 2015 to 2032 (US$ Million)
5.1. Key Trends Analysis
5.2. Europe Market Analysis, By Type, 2015 to 2032 (US$ Million)
5.2.1. Public Domain Registry Software
5.2.2. Commercial Registry Software
5.3. Europe Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
5.3.1. Diabetes Registry
5.3.2. Cardiovascular Registry
5.3.3. Cancer Registry
5.3.4. Rare Disease/Orphan Disease Registry
5.3.5. Other Chronic Disease Registry
5.4. Europe Market Analysis, By End-User, 2015 to 2032 (US$ Million)
5.4.1. Government
5.4.2. Commercial
5.5. Europe Market Analysis, By Region, 2015 to 2032 (US$ Million)
5.5.1. EU7
5.5.2. CIS
5.5.3. Rest of Europe
6. Asia Pacific Market Analysis, 2015 to 2032 (US$ Million)
6.1. Key Trends Analysis
6.2. Asia Pacific Market Analysis, By Type, 2015 to 2032 (US$ Million)
6.2.1. Public Domain Registry Software
6.2.2. Commercial Registry Software
6.3. Asia Pacific Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
6.3.1. Diabetes Registry
6.3.2. Cardiovascular Registry
6.3.3. Cancer Registry
6.3.4. Rare Disease/Orphan Disease Registry
6.3.5. Other Chronic Disease Registry
6.4. Asia Pacific Market Analysis, By End-User, 2015 to 2032 (US$ Million)
6.4.1. Government
6.4.2. Commercial
6.5. Asia Pacific Market Analysis, By Region, 2015 to 2032 (US$ Million)
6.5.1. Japan
6.5.2. China
6.5.3. South Asia
6.5.4. Australasia
6.5.5. Rest of APAC
7. Middle East & Africa (MEA) Market Analysis, 2015 to 2032 (US$ Million)
7.1. Key Trends Analysis
7.2. MEA Market Analysis, By Type, 2015 to 2032 (US$ Million)
7.2.1. Public Domain Registry Software
7.2.2. Commercial Registry Software
7.3. MEA Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
7.3.1. Diabetes Registry
7.3.2. Cardiovascular Registry
7.3.3. Cancer Registry
7.3.4. Rare Disease/Orphan Disease Registry
7.3.5. Other Chronic Disease Registry
7.4. MEA Market Analysis, By End-User, 2015 to 2032 (US$ Million)
7.4.1. Government
7.4.2. Commercial
7.5. MEA Market Analysis, By Region, 2015 to 2032 (US$ Million)
7.5.1. GCC Countries
7.5.2. North Africa
7.5.3. South Africa
7.5.4. Rest of MEA
8. Latin America Market Analysis, 2015 to 2032 (US$ Million)
8.1. Key Trends Analysis
8.2. Latin America Market Analysis, By Type, 2015 to 2032 (US$ Million)
8.2.1. Public Domain Registry Software
8.2.2. Commercial Registry Software
8.3. Latin America Market Analysis, By Disease Areas, 2015 to 2032 (US$ Million)
8.3.1. Diabetes Registry
8.3.2. Cardiovascular Registry
8.3.3. Cancer Registry
8.3.4. Rare Disease/Orphan Disease Registry
8.3.5. Other Chronic Disease Registry
8.4. Latin America Market Analysis, By End-User, 2015 to 2032 (US$ Million)
8.4.1. Government
8.4.2. Commercial
8.5. Latin America Market Analysis, By Region, 2015 to 2032 (US$ Million)
8.5.1. Brazil
8.5.2. Rest of Latin America
9. Company Profiles
9.1. Global Vision Technologies, Inc.
9.2. IQVIA
9.3. Dacima Software Inc.
9.4. Invitae
9.5. Evado eClinical Solutions
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Patient Registry Software Market
