Global Patient Registry Software Market - 2022-2029

Global Patient Registry Software Market - 2022-2029:

Market Overview

Patient Registry Software Market size was valued at US$ xx million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 9.2% during the forecast period (2022-2029).

Patient registry software is an automated database containing personal, medical, social, and financial data reported by healthcare professionals or patients. In addition, this software easily collects data on patients or groups of patients in clinical studies, taking a new drug or having a particular diagnosis or condition.

Market Dynamics

The patient registry software market growth is driven by government initiatives, the rising adoption of patient registry softwares for the diagnosis of disease, increase and research and development activities.

The acceptance of Electronic Health Records (EHR) is expected to drive the market growth

In the digital world, information communication technologies are commonly used and extensive in the healthcare industry to handle big data and ample health information. According to the International Organization for Standardization (ISO), EHR is considered a repository of patient data in digital form, stored and exchanged securely and accessible by multiple authorized users. Adopting this system in the healthcare sector has several advantages, such as improving patient care, minimizing cost, increasing revenue, reducing medical errors, reducing the need for file space, data confidentiality, central patient data management, and sharing medical information. In addition, the EHR enables clinicians to easily analyze patient data to discover new treatments, uncover safety issues, and identify unusual clinical findings.

In addition, the market players are adopting different market strategies, including product launches and collaboration. For instance, in October 2020, Dacima Software, Inc., with Movember, designed and developed a new registry database to launch the world's largest prostate cancer patient registry network. Also, in June 2020, ArborMetrix Inc. (US) partnered with The Society of Interventional Radiology (SIR) (US). This partnership goal is to provide the IR Quality Registry with a way to improve patient care by integrating analytics.

The high cost of Patient Registry Software will hamper the growth of the market

However, more than 50% of electronic record projects worldwide failed without providing their targeted benefits. Especially the implementation of EHR remains a major challenge in the healthcare sector in low-income countries such as Sub-Saharan countries. Merely 15% of low-income countries have nationally adopted electronic record systems in health institutions.

COVID-19 Impact Analysis

The appearance of COVID-19 considerably impacted the global patient registry software market. From the beginning of the COVID-19 pandemic, the fast and surprising outbreak of COVID-19, its complex and unspecified nature has created data collection infrastructures and has become a fundamental necessity worldwide. The market players engaged in developing solutions for the management of data. For instance, in March 2020, Health Catalyst, Inc., a provider of data and analytics technology and services, launched a COVID-19 Registry, Dashboard, and Capacity Planning Tool. In addition, the government supports controlling and managing the situation of COVID-19. For instance, in Iran, at the beginning of the COVID-19 epidemic, the Ministry of Health, as the custodian of the health system, created two information systems for addressing COVID-19 in healthcare centers. However, these two systems collect basic information about patients with COVID-19. Overall, COVID-19 positively impacted market growth.

Segment Analysis

The Point Of Care (POC) segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The Point Of Care (POC) segment is expected to boost the market over the forecast period. As per the article published in Practical Laboratory Medicine in November 2020, Accreditation and regulatory standards highlight the rising need to integrate POC Testing results into the patient’s electric medical records. This promotes accessibility of POC results, the ability to monitor and trend, prevents unnecessary repeat testing and provides evidence for patient outcomes. As POC results are used to make clinical decisions, it is important to document results with associated reference intervals, units of measurement, critical values if applicable, date and time of testing, and also be traceable to device serial number, operator identification number, reagent lot number, and quality control (QC) results. POC results should also be differentiated from other central laboratory results to avoid confusion and trending results from different analytical methodologies. POC is routine in all hospitals and has become the standard for patient care in various healthcare settings.

Geographical Analysis

North America region holds the largest market share of the global patient registry software market

North America dominates the market for Patient Registry Software and is expected to show a similar trend over the forecast period. It is estimated to hold a significant market size over the forecast period (2022-2029) owing to increasing government support for the development, advanced healthcare infrastructure and point-of-care management. The development of digital infrastructure in the healthcare sector and the adoption of technological advancements by healthcare professionals and staff drive the market in the North American region.

For instance, in April 2020, the American Heart Association declared the development of a new patient registry to collect data. It helps the researchers to understand the interconnection between coronavirus, cardiovascular diseases, and related treatment protocols. Also, in February 2021, the Leukemia & Lymphoma Society (LLS) partnered with Citizen to develop a digital health solution to study the relationship between coronavirus and vaccination amongst blood cancer patients. They established LLS National Patient Registry to collect data on blood cancer patients for the study.

In addition, the market players are adopting product launches and collaboration strategies to expand their business in the North American region. For instance, in March 2021, ESO Solutions partnered with Virginia EMS Systems to deliver a statewide EMS data repository and statewide trauma registry to collect and analyze data to reveal key insights and trends. Also, in November 2020, ArborMetrix, Inc. partnered with the American Academy of Pediatrics to develop and grow a clinical registry to advance all children's health, well-being, and development.

Competitive Landscape

The patient registry software market is a moderately competitive presence of local and global companies. Some of the key players contributing to the market's growth are Dacima Software Inc, McKesson Corporation, Global Vision Technologies Inc., ImageTrend Inc., Liaison Technologies, Optum Inc., Phytel Inc., and Quintiles IMS Holdings Inc, among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the growth of the global patient registry software market.

For instance,

• In December 2020, ImageTrend, Inc. announced the latest National Trauma Data Bank (NTDB) Data Dictionary available in the Patient Registry on January 2021.

Dacima Software Inc

Overview:

Dacima Software is a flexible company founded in 2003 and has developed advanced clinical software that helps solve the business's major strategic and operational challenges.

Product Portfolio:

DACIMA REGISTRY: The Dacima REGISTRY is a modified database creation software that permits users to produce registries and administrative databases without expertise in computer programming or database design theory.

The global Patient Registry Software market report would provide access to approximately 65+ market data tables, 65+ figures, and in the range of 200+ (approximate) pages.