Global Patient Registry Software Market, by Software Type (Integrated Software and Stand Alone Software), by Mode of Delivery (On Premise Delivery and Cloud Based/Web based Delivery) by Functionality (Population Health Management, Health Information Exchange ,Point of Care and Others), by End User (Hospitals, Government Organizations, Pharmaceutical, Biotechnology, Medical Device Companies, and Research Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 805 Million in 2017 and is projected to exhibit a CAGR of 12.7% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. The global patient registry software market is expected to grow steadily, owing to rising number of initiatives undertaken by government organizations such as National Program for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS) e-initiative was launched in 2016 by Government of India to create awareness about various non- communicable diseases.
Advancements in technology in patient registry software is expected to boost growth of the market over the forecast period.
Major market players are focusing on introduction of innovative products for improving hospital patient registry work flow and clinical outcomes. This is expected to boost growth of the market. For instance, in March 2018, Rush University Medical Center in Chicago launched a cloud-based surgical oncology research team (SORT) registry. SORT is designed to function across multicenter platforms to gather psychosocial, oncological, and functional outcome data. Its cloud based registry provides a research platform that enables the user’s institution to gather their own data while partnering with other organization. Main characteristic of SORT registry is to collect functional scores using Musculoskeletal Tumor Society (MSTS) functional evaluation tool and patient reported outcomes both at follow up and presentation.
Healthcare system cost in developed countries is increasing due to increase in healthcare expenditures, high cost involved with the usage of advanced medical technology, and pharmaceutical expenditure, as well as high prevalence of chronic diseases and their financial consequence is urging government and private organizations, all over the globe, to work together for common patient registry solutions. For instance, 2013 Advanced Biological Laboratories (ABL) South Africa signed a contract with Spanish Asociación para el Estudio del Hídago for licensing and development of the new HepatiC software and database system. HepatiC offers hepatitis C (HCV) patient registry and database to aid in the management of HCV-infected patients receiving direct acting antiviral therapy.
Moreover, key players are focusing on collaboration, mergers, and partnership with other companies and institutes to retain dominant position in the market. These factors are expected to propel growth of global patient registry market over the forecast period. For instance, in 2014 Cancer Commons and The Melanoma Research Foundation (MRF) launched ‘donate your data (DYD) Program’, an online registry for melanoma patients and survivors. Donate your data program encourages patients to anonymously share their cancer experiences for advance research.
Key Takeaways of the Patient Registry Software Market
- The global patient registry software market is expected to exhibit a CAGR of 12.7% over the forecast period, owing to rising number of initiatives undertaken by government organizations to promote healthcare research and moreover, increasing incidence of chronic diseases. For instance, according to The World Health Organization (WHO) 2008 report projects that deaths due to non-communicable disease (NCD) will increase by 15% globally between 2010 and 2020, resulting in 44 million deaths.
- Among software type, integrated software would hold largest share due to already installed population health and electronic health record systems in most of end user facilities. Among mode of delivery, cloud based delivery would hold largest share during forecast period due to accessibility of same to all stake holder and continuous update it provides.
- Among functionality, population health management would largest share due to wider adoption of this system in all major stakeholder (payer, provider etc.)
- Among end user, hospitals segment is expected to be dominant in the global patient registry software market, over the forecast period, owing to rise in patient admission in hospitals.
- Some major players operating in the patient registry software market are Global Vision Technologies, Inc., Quintiles Inc., Dacima Software Inc., and PatientCrossroads, Evado eClinical Solutions, Mckesson Corporation, Liaison Technologies, and Imagetrend, Inc.
– Coherent Market Insights