Global Patient Registry Market projected to grow at a CAGR of 11.9% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Patient Registry Market by Software (Standalone, Integrated), Type (Cancer, Diabetes, Asthma, Orthopaedic, Drug), Functionality (HIE, POC, PHM), Delivery (Cloud, On-premise), Database (Public, Commercial), End-User (Hospitals, Pharmaceuticals, Government Organisations, Biotechnology, Private Players, and Medical Practices), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The patient registry market is expected to grow from USD 1 billion in 2019 to USD 2.47 billion by 2027, at a CAGR of 11.9% during the forecast period 2020-2027. North America dominates the market, due to the rising prevalence of diseases, increasing target population, and need for population-based registries. Also, the increasing government initiatives in the region contribute majorly to the region. The Asia-Pacific region is expected to witness significant growth, owing to the adoption of electronic medical records, rising pressure to curb medical errors, increased diagnostic errors, repeated hospital visits, ageing population, and rising incidences of co-morbidities. The supportive government issues in countries like, China, South Korea, and Japan are also expected to influence the market for patient registries. The market in the Middle East and Africa is expected to witness moderate growth, owing to limited access and healthcare affordability among the population.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the notable players in the market are Dacima Software, Inc., Liaison Technologies, Inc., ImageTrend, Inc., INC Research Holdings, Inc., EVADO Pty. Ltd., FIGmd, Inc., Global Vision Technologies, Inc., CECity.com, Inc., Velos, Inc., Quintiles IMS Holdings, Inc., Phytel, Inc., McKesson Corporation, ifa systems AG, IQVIA, and Optum, Inc.
The software segment includes standalone and integrated. The standalone segment is expected to show a significant growth in the market, owing to the growing need and focus on ensuring an integrated healthcare system. The type segment includes cancer, diabetes, asthma, orthopaedic, and drug. The disease registry segment is expected to hold a large number of shares, owing to the rising prevalence of chronic diseases, growing government initiatives to build disease registries, rising awareness about the importance of patient registries, and growing adoption of EHRs across the globe. The functionality segment includes HIE, POC, and PHM. The PHM segment dominates the market due to the increasing demand for solutions supporting value-based care delivery, helps to standardize physician approach, lessens the cost of the disease management, and enhances clinical outcomes. Based on delivery, the market is segmented into the cloud, and on-premise delivery. The on-premise delivery segment is expected to dominate the market, attributing to its easy retrieval, data security and ease of access. The database segment includes public and commercial database. The commercial database segment is expected to hold the largest number of shares, due to its enhanced data security and its compliance with government standards and coding. The public database segment is also expected to grow, owing to the increasing number of research organizations. Based on end-use, the market is segmented into hospitals, pharmaceuticals, government organizations, biotechnology, private players, and medical practices. The government organizations segment holds the largest number of shares, owing to the implementation of new software in developed and developing countries to decrease the disease burden.
The factors driving the market are rising prevalence of chronic disease, adoption of electronic health records, rising application past stored data for marketing, and rising support from government. Majority of biotechnological and pharmaceutical companies are increasing their investments in the clinical trials; this is expected to possess great opportunities to the players. Factors hindering the market growth are privacy and security related concerns. Thus, the market is expected to grow owing to the rising prevalence of chronic diseases and technology advancement.
About the report:
The global patient registry market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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