According to
Meticulous Research®, the Global Patient Registry Software Market will grow at a
CAGR of 11.0% to reach USD 1.49 billion by 2023 from 2018, driven by “the
rising focus on evidence-based health care, growing need for effective chronic
disease management, and increasing use of registries for post-marketing
surveillance of drugs and devices.”
This growth is
primarily driven by the continued pressure to curtail rising healthcare costs,
growing demand to improve care quality, increasing adoption of EHRs and
improving health IT infrastructure, growing application of patient registry
data in post-marketing surveillance, increasing cancer and rare disease
research, and increase in the support from government for value-based care and
adoption of patient registries.
Registries are
becoming crucial for integrated care models, chronic care management,
population health management, and wellness initiatives. The shift to pay-for
performance and value-based reimbursement models result in putting the
providers at risk of financial losses if the quality and cost targets are not
fulfilled. A well designed and executed registry offers hospitals and health
systems with vital patient data that enables them in assessing the
effectiveness of healthcare services, monitoring patient outcomes, performance
benchmarking, regulatory compliance, managing gaps in care, and advance efforts
to deliver data-driven evidence-based care. Owing to these reasons, hospitals
and medical centers are expected to witness rapid surge in the demand of
patient registry software in the coming years.
The global
patient registry software market is segmented based on registry type, software
type, pricing model, deployment model, database type, functionality, and
end-user.
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On premise
solutions captured a major share owing to concerns related to patient data
confidentiality and security on remotely managed servers. On the other hand,
cloud-based patient registry solutions are expected to offer high growth
opportunities owing to their real time data analysis, easy accessibility,
flexibility, scalability, and cost-effectiveness.
The key
players in this market are Phytel, Inc., QUINTILES IMS HOLDINGS, INC., Liaison
Technologies., ImageTrend, Inc., FIGmd, Inc., McKesson Corporation, CECity.com
Inc., Dacima Software Inc., Global Vision Technologies, Inc., ifa systems AG,
Syneos Health, M2S, Inc., Optum, Inc. (A part of UnitedHealth Group
Incorporated), EVADO Pty. Ltd., and Velos, Inc. among several others.
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