Pune, July 12, 2018 (GLOBE NEWSWIRE) -- According to a new report published by Progressive Markets Report, titled, "Global Patient Data Management Systems Market by Product, Mode of Delivery, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2013-2025," the global patient data management systems market was valued at $227.1 million in 2013, and is projected to reach $1,115.6 million by 2025, growing at a CAGR of 14.5% from 2017 to 2025. Among the products segment, solution is anticipated to be the highest revenue contributor during the forecast period.
Patient data management systems are computer-based information systems which process, store, protect, and analyze data associated to patients. Owing to the continuous development in computer technology, the utilization of PDMS has increased immensely in the recent years. Moreover, patient data management systems also offer nursing education, which proves to be beneficial for the healthcare professionals. This further helps in supplement the market growth.
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Increase in need for efficient management of patient data drive the growth of the global PDMS market. In addition, the need to reduce healthcare cost also plays a major role in supplementing the market growth. However, the high cost associated with the implementation of these devices in healthcare settings hinder the growth of the market.
The impact of the drivers is significantly higher than that of the restraints. Rise in awareness about the advantages of PDMS among the healthcare professionals is expected to provide lucrative opportunities for market growth during the forecast period.
In the product segment, services accounted for nearly 50% of the share in 2013 and is expected to grow at a fastest CAGR of 14.7% during the forecast period, because of different services offered by PDMS. This includes managing patient data, retrieving and manipulating patient history, generating reports for analysis, and digitalizing patient management and clinical care.
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In the mode of delivery segment, web-based segment dominated the market accounting for about 40% share in 2013. The cloud-based segment is anticipated to grow at the highest CAGR of 14.7% during the forecast period, owing to the recent trend of storing data in the cloud due to the privacy concerns associated to patient data.
The study offers a comprehensive analysis of the key manufacturers operating in the global patient data management systems market. An overview of each market player is provided in the study to assist market players, new entrants, investors, and stakeholders determine steps to be taken to achieve growth in the future.
The report highlights their overview, business performance, key strategic moves & developments, and market share with respect to the market players in the report. Important market players studied in the report include Cerner Corporation, Constellation Software Inc. (Imdsoft), Danaher Corporation (Radiometer Medical Aps), Drgerwerk AG & CO. KGAA, Elekta AB, General Electric Company (GE Healthcare), Hill-Rom Holdings, Inc. (Mortara Instrument, Inc.), Koninklijke Philips N.V. (Philips Healthcare), Medset Medizintechnik GMBH, Nexus AG, Siemens AG (Siemens Healthineers), Smiths Group PLC. (Smiths Medical), and Utas co. Information about the players assists in assessing the competitiveness prevailing in the global patient data managements systems market.