The global patient registry software market is estimated at US$ 4.4 Billion while expanding at a CAGR of 8.8% from 2022 to 2032. The market is valued at US$ 1.9 Billion in 2022. The growth of the market can be attributed to the increasing adoption of EHRs in the healthcare sector. The implementation of various favorable government initiatives is expected to strengthen the market in the forecast period.
For instance, in 2016, the U.S introduced Cures Act, which aims to develop medical products and offer innovative technology in the medical sector. Also, the incorporation of AI into EHRs is anticipated to offer various opportunities for expansion. For instance, in October 2019, various scripts along with Northwell Health made an agreement to offer the next-generation electronic health record. The agreement aims to massive revenue generation, thereby, fuelling the market expansion in the coming time.
On the other hand, concerns associated with data privacy and security are expected to hinder the market growth in the forecast period. According to the Identity Theft Resource Center, the U.S recorded about 1.473 breaches in 2019, a rise of 17% against 2018. However, the emergence of cloud-based EHR is anticipated to offer significant opportunities to the market and act as a significant counter to the impeding cause, thereby, supporting the market expansion.
Key Takeaways from the Market Study
- The global patient registry market is expected to garner US$ 1.9 Billion in 2022
- Global market demand flourished at a 10.4% CAGR from 2015 to 2021
- The commercial registry software segment to expand at 8.9% from 2022 to 2032
- The US market size to garner US$ 1.5 Billion by 2032
- Market in Brazil to value US$ 57 Million from 2022- to 2032
- The CAGR of China is expected to be 10.5% from 2022 to 2032
- The diabetes registry segment is projected to experience a CAGR of 9.3% from 2022 to 2032
“Increasing chronic diseases across the globe is anticipated to play an important role in driving the market. With the growing cases of cancer, cardiovascular, and diabetes, there has been a notable rise in demand for EHRs, which will impact the market positively in the coming time.”
Key players in the global patient registry software market include Dacima Software Inc., Evado eClinical Solutions, IQVIA, Global Vision Technologies Inc., and Invitae. Recent developments among key players are:
- In June 2020, ArborMetrix Inc. (US) entered into a strategic partnership with The Society of Interventional Radiology (SIR). The initiative aims to offer the IR Quality Registry to enhance patient care by deploying analytics.
- In March 2021, ESO Solutions announced a strategic partnership with Virginia EMS Systems (US) to provide an EMS data repository and trauma registry across the state.
- In April 2021, IQVIA Holdings accomplished the remaining 40% of Q2 solutions from diagnostic information services providers Quest Diagnostics.
- In December 2020, ImageTrend, Inc. (US) disclosed the latest National Trauma Data Bank (NTDB) Data Dictionary that would be available in the Patient Registry from January 1, 2021.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global patient registry software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Public Domain Registry Software, Commercial Registry Software), Disease Area (Diabetes Registry, Cardiovascular Registry, Cancer Registry, Rare Disease/Orphan Disease Registry, Other Chronic Disease Registry), End-User (Government, Commercial), & Regional (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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