Patient Registry Software Market Surpass US$ 2,426.58 million by 2027 | FIGmd, Medstreaming, Cedaron, Lumedx, Dacima Software

The patient registry software market was valued at US$ 930.06 million in 2019 and it is projected to reach US$ 2,426.58 million by 2027; it is expected to grow at a CAGR of 12.9% during 2020–2027.

The use of medical information from clinical registries is gradually increasing worldwide. Clinical registries capture broad-scope data by using a mixture of manual and automated methods. According to a survey by the American Medical Association, published in the Journal for Electronic Health Data and Methods in 2018, the Centers of Medicare and Medicaid used approximately 70% data of over 50 specialty clinical registries in the US for measuring the quality of clinical care through patient registries. Further, in 2016, the National Quality Registry Network (NQRN) ruled out a list of registries based on publicly available sources. These registries focus on aspects, such as quality improvement, population management benchmarking, comparative effective research, family medicine, lung cancer screening, interventional radiology, and metabolic and bariatric surgery.

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CEDARON; Dacima Software Inc.; Evado Clinical; FIGmd Inc.; IBM Corporation; IQVIA Inc.; LUMEDX; McKESSON CORPORATION; and Medstreaming Open Text Corporation are among the key players operating in the patient registry software market. These companies focus on partnerships, product launches, and collaborations to sustain their positions in the market. For instance, in October 2019, OpenText acquired Liaison Technologies, Inc. to further enhance OpenText’s offerings in the digital ecosystem and business-to-business integration solutions, application-to-application integration, and master data management capabilities.

Based on software, the global patient registry software market is segmented into standalone and integrated. The integrated segment held the largest share of the market in 2019 and it is expected to register the highest CAGR in the market during the forecast period.

Based on pricing model, the global patient registry software market is segmented into subscription and ownership. The subscription segment held the largest share of the market in 2019, and it is expected to register the highest CAGR during 2020–2027. The subscription software is usually priced monthly or annually and it has a consistent, ongoing subscription. The subscription costs include general maintenance, upgrades, and infrastructures as well as backup expenses. Furthermore, the subscription models include security measures, protection of current data, and other provider application parameters.

In December 2020, the European Union (EU) awarded US$ 66 million to various digital health projects with an aim to fight against health crisis—such as COVID-19 outbreak—and to consolidate digital and Artificial Intelligence (AI) infrastructure in Europe. This financial assistance encourages digital health companies to develop and introduce advanced products in the patient registry software market.

The report segments the global patient registry software market as follows:

By Software

Standalone
Integrated

By Database

Public
Commercial

By Type of Registry

Product Registry
Disease Registry
Cardiovascular Disease Registry
Others
Health Service Registry

By Mode of Delivery

On-Premises
Cloud-Based

By Pricing Model

Ownership
Subscription

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This release was published on openPR.