(PharmaNewsWire.Com, February 12, 2021 ) The growth of this market is mainly attributed to 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.
The report 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.
Market Segmentation:- Based on the type of registry, the patient registry software market is segmented into product registries, health service registries, and disease registries. The disease registries segment accounted for the largest share of 67.2% of the patient registry software market in 2019.
Based on the deployment model, the Patient Registry Software Industry is segmented into on-premise model and cloud-based model. In 2019, on-premise models held 82.6% of the global patient registry software market. The large share of this segment can be attributed to the enhanced control and safety of patient data, and the large number of COVID-19 patients across the globe, which has driven the demand for registries.
Based on functionality, the population health management (PHM) segment accounted for the largest market share of 28.9% in 2019. The large share of this segment can be primarily attributed to the implementation of favorable regulations, such as the ACA in the US.
Based on the end user, the Patient Registry Software Industry 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 33.9% of the global patient registry software market.
Recent Developments In June 2020, ArborMetrix Inc. (US) entered into a partnership with The Society of Interventional Radiology (SIR) (US) . This partnership aims to provide the IR Quality Registry to improve patient care by integrating analytics. In April 2020, IQVIA Holdings Inc. (US), announced the launch COVID-19 registry platform and technology-powered trial matching solution In March 2020, OpenText Corporation (Canada) acquired XMedius (US) To strengthen OpenText’s leadership in the areas of secure information exchange, unified communications, and digital fax. In March 2020, ImageTrend Inc. (US) entered into a partnership with American Heart Association (US) , in this partnership ImageTrend’s Clinical and Research team will analyze pre-hospital data related to heart attacks and strokes in patients during the COVID-19 pandemic. InJanuary 2020, M2S . (US) announced the launch Vascular Medicine Consult Registry.
Regional Analysis: - 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.
Top key Players: - Some of the prominent players in this market are Phytel, Inc. (US), IQVIA Holdings, Inc. (US), OpenText Corporation (Canada), ImageTrend, Inc. (US), FIGmd, Inc. (US), Syneos Health Inc. (US) and McKesson Corporation (US).
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