Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Patient Registry Software Market - Global Industry Size, Share, Trends Opportunity, and Forecast 2018-2028" report has been added to ResearchAndMarkets.com's offering.
This report on the Global Patient Registry Software Market reveals an impressive growth trajectory for the industry, expecting to expand with a Compound Annual Growth Rate (CAGR) of 9.33%. The study, which comprehensively analyzes trends, market drivers, and challenges, finds the market value at USD 1.60 billion as of 2022.
Growth Drivers and Market Trends
The report highlights key factors driving the market growth, such as the rising burden of chronic diseases worldwide, growing demand for population health management, and the pivotal role of patient registry software in epidemiological studies. The shift toward value-based care models, increased government incentives, and heightened demand for patient-centered healthcare delivery are further contributing to the market development. Increased adoption of cloud-based solutions has emerged as a prominent trend within the market, offering advantages such as scalability, cost savings, enhanced access, and data security. Cloud-based patient registry software ensures efficient data management, real-time access, and compliance with changing healthcare standards, aiding healthcare providers in delivering quality care.
Segment Analysis: Disease Registries and Standalone Software in Focus
- The Disease Registries segment holds a dominant position in the market, owing to the critical need for specialized registries in managing diseases with high prevalence and research importance.
- Standalone software solutions exhibit significant demand, attributable to their flexibility and specialized features tailored to address various medical conditions and research requirements.
The end-user analysis shows that Government Organizations and Third-Party Administrators (TPAs) are leading adopters of patient registry software. The need for regulatory compliance and efficient data management for public health initiatives significantly contributes to this segment's growth.
Regional Insights: North America at the Forefront
Regionally, North America commands the largest market share, primarily due to its well-established healthcare infrastructure, stringent regulatory environment, and the presence of leading research institutions. The region's proactive stance on healthcare IT adoption and focus on personalized patient care facilitates market expansion.
Data Quality and Standardization: A Challenge to Address
However, challenges such as ensuring data quality, accuracy, and standardization pose significant concerns for providers and users. The importance of accurate patient records and the complexities of integrating data from disparate systems underscore the need for sophisticated software solutions capable of overcoming these barriers.
Market Implications and Outlook
The Global Patient Registry Software Market report offers an extensive analysis of market dynamics, providing insights into the competitive landscape and future opportunities for healthcare organizations, technology providers, and stakeholders. With the market poised for a significant upturn, industry participants are expected to experience lucrative prospects for growth and innovation in the coming years.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $2.71 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Dacima Software Inc.
- FIGmd Inc.
- Global Vision Technologies Inc.
- Image Trend Inc.
- IQVIA
- Ordinal Data, Inc.
- McKensson Corporation
- Syneos Health
- Velos Inc.
- Cerner Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ajcx16
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