Sales Forecasts of Patient Registry Software Market Reveal Positive Outlook Through 2021
Patient registry databases are used to develop clinical research in the field of rare and chronic diseases for the improvement of patient care. These databases are important to assess the feasibility of clinical trials and support patient enrollment procedures to evaluate the impact of new interventions. In healthcare organizations such as hospitals and nursing homes, patient registry databases collect and store patient information to define particular diseases or medical conditions.
The global patient registry software market is categorized based on various types of database, product, functionality, delivery mode, and end users. Based on types of databases, the report covers chronic disease, rare disease, cancer, cardiovascular, and diabetes registries. Based on types of product, the report covers standalone and integrated software. Integrated software represents the fastest growing segment in the global patient registry software market. Based on functionality, the report covers point of care (PoC), product outcome evaluation, patient care management, and population health management. Based on delivery mode, the report contains analyses of subscription and ownership models. The subscription model represents the fastest-growing delivery model in the global patient registry software market. The end user segment is further subsegmented into hospitals and medical practices, government organizations and third-party administrators (TPAs), private payers, and pharmaceutical and medical device manufacturing companies. The government organizations and TPAs segment holds the largest share of the patient registry software market.
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In terms of geography, North America dominates the global patient registry software market. This is due to the presence of an improved healthcare infrastructure and increased government funding for the medical field in the region. In addition, technological advancement in patient registry software platforms, as well as increasing adoption of electronic health records (EHRs) in medical practices have also propelled the growth of the market in North America. The U.S. represents the largest market for patient registry software in North America, followed by Canada. In Europe, Germany, France, and the U.K. hold major shares of the patient registry software market. The patient registry software market in Asia too, is expected to show high growth rates in the next five years. This is due to various initiatives being undertaken by governments to enhance population health management in the region. In addition, increasing pressures of government on healthcare organizations to improve the quality of care and minimize healthcare cost have also propelled the growth of the patient registry software market in the region. India, China, and Japan are expected to be the fastest-growing markets for patient registry software in Asia.
Various initiatives undertaken by government organizations to enhance patient health management and increasing prevalence of chronic diseases are among the major drivers for the global patient registry software market. Also, increasing adoption of EHRs and increasing government pressure on healthcare organizations to improve patient care have fueled the growth of this market.
Lack of healthcare IT professionals and data privacy and security concerns in EHRs are major restraints of the global patient registry software market. Increasing numbers of mergers and acquisitions between healthcare IT companies is a key trend observed in the global patient registry software market.
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The major companies operating in this market are ImageTrend, Inc., Global Vision Technologies, Inc., ifa systems AG, Velos, Inc., Telligen, Inc., Optum, Inc., Quintiles Transnational Holdings, Inc., Phytel, Inc., McKesson Corporation, and INC Research Holdings, Inc.