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The Patient Registry Software Market is Segmented By Type of Registry (Disease Registries, Health Service Registries, and Product Registries), Type of Software, End User, and Geography
Fastest Growing Market:
The patient registry software market is expected to witness a CAGR of 11.8% during the forecast period. Certain factors that are driving the market growth include implementation of government initiatives to build patient registries, rising adoption of electronic health records (EHR), and increasing use of patient registry data for post-marketing surveillance.
Owing to the improved outcomes and quality of care in the 21st century, market players around the world are looking for innovative and cost-effective ways to deliver technology-enabled, patient-centered healthcare solutions, both inside and outside hospital walls. Due to widespread applications, including clinical and non-clinical, electronic health records have been able to attract the attention from government sources. Many federal policies, actions, and programs are being initiated by the government of developed and developing countries across the world, in order to experience progress in healthcare services.
However, concerns relating to privacy breaches and issues, like theft of data, are associated with all forms of medical information technology (IT). Similar issues exist with the use of patient registry software. Widespread adoption of registry software has been restrained due to data security issues. Intensification of security checks is an achievable task for vendors supplying these services, but these security checks come at the cost of ease of operation, thereby, compromising on the efficiency of the platform. Therefore, concerns relating to privacy and data security are inhibiting the growth of global patient registry software market. Moreover, the lack of trained and skilled professionals is limiting the market.
As per scope of the report, patient registry software deals with an organized system, which uses observational study methods to collect uniform data (clinical and other) for the evaluation of specified outcomes for a population, defined by a specific disease, condition, or exposure, and which further serves one or more predetermined scientific, clinical, or policy purposes.
|By Type of Registry|
|Health Service Registries|
|By Type of Software|
|By End User|
|Government Organizations and Third Party Administrators (TPAs)|
|Pharmaceutical, Biotechnology, and Medical Device Companies|
|Other End Users|
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Although niche stand-alone software finds extensive application in the healthcare industry for collection and assessment of various types of registries, yet the largest market share is still occupied by integrated software, which provides multiple modules offering a comprehensive range of features normally available in stand-alone software.
Integrated software is being increasingly used in hospital settings, where multiple registries need to be recorded in different departments, and cross-sharing of this data across departments is crucial. Furthermore, according to the Organisation for Economic Co-operation and Development (OECD), in 2018, the average per capita health expenditure in Switzerland was USD 7,317. Thus, owing to the above factors the segment is expected to show growth over the forecast period.
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In the United States, digital infrastructure development for healthcare and electronic health record adoption started earlier. For example, within the country, the federal government has been encouraging the use of its healthcare data through various policies and initiatives.
Moreover, according to the CMS, the US national health expenditures represented approximately 18% of GDP (Gross Domestic Product), which is expected to reach roughly 20% by 2020. The majority of the growth is anticipated to be fueled by public sector spending, specifically by Medicare and Medicaid. Medicaid and social security are expected to exceed government revenues. Thus, the growing investments in the healthcare sector are likely to drive product innovation and technology acceptance, which in turn, may propel the healthcare IT market in the region.
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The patient registry software market is fragmented competitive and consists of a number of major players. Companies, like Dacima Software Inc., FIGmd, Inc., Global Vision Technologies, Inc., Image Trend, Inc., IQVIA, Liasion Technologies, McKensson Corporation, Syneos Health, and Velos Inc., among others, hold the substantial market share in the market studied.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Implementation of Government Initiatives to Build Patient Registries
4.2.2 Rising Adoption of Electronic Health Records (EHR)
4.2.3 Increasing Use of Patient Registry Data for Post-marketing Surveillance
4.3 Market Restraints
4.3.1 Privacy and Data Security-related Concerns
4.3.2 Lack of Trained and Skilled Resources
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type of Registry
5.1.1 Disease Registries
5.1.2 Health Service Registries
5.1.3 Product Registries
5.2 By Type of Software
5.2.1 Stand-alone Software
5.2.2 Integrated Software
5.3 By End User
5.3.2 Government Organizations and Third Party Administrators (TPAs)
5.3.3 Pharmaceutical, Biotechnology, and Medical Device Companies
5.3.4 Other End Users
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East & Africa
5.4.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Dacima Software Inc.
6.1.2 FIGmd Inc.
6.1.3 Global Vision Technologies Inc.
6.1.4 Image Trend Inc.
6.1.6 Liasion Technologies
6.1.7 McKensson Corporation
6.1.8 Syneos Health
6.1.9 Velos Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments