The global Patient Registry Software Market is expected to reach US$ 4.4 billion by 2032, up from US$ 1.9 billion in 2022, at a CAGR of 8.8% from 2022 to 2032. Increased revenue can be attributed to the rising prevalence of chronic diseases and the growing geriatric population.
For instance, in 2016, the United States 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 market growth in the forecast period. According to the Identity Theft Resource Center, the United States 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.
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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.”
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Competition Analysis
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.
Key players:
- Dacima Software Inc.,
- Evado eClinical Solutions,
- IQVIA,
- Global Vision Technologies Inc.,
- Invitae
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Key Segments Covered in the Patient Registry Software Market Report
Patient Registry Software by Type:
- Public Domain Patient Registry Software
- Commercial Patient Registry Software
Patient Registry Software by Disease Area:
- Diabetes Patient Registry Software
- Cardiovascular Patient Registry Software
- Cancer Patient Registry Software
- Rare Disease/Orphan Disease Patient Registry Software
- Other Chronic Disease Patient Registry Software
Patient Registry Software by End User:
- Patient Registry Software for Governments
- Patient Registry Software for Commercial Use
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