Global Patient Registry Software Market
Patient registry software provides a registration toolbox, which allows database creation for the user to create administrative and registries database without any intervention of database design expertise or any need of computer programming skills. These patient registry software are scalable, configurable, and offers unparalleled flexibility allowing the user to design databases according to data collection needs. Patient registry software have cloud based accessibility to the database, in addition to offline approach that allows the user to model an application based database that can be installed on various personalized computers for offline data entry, making it ideal for data gathering in regions with unreliable and poor internet connectivity.
Patient registry software is increasingly gaining traction in the healthcare sector. Registries of patient are used by physicians and hospitals to record clinical data of patients, which offers valuable insights of the patient’s disease. The objective of using this software is to provide a detailed medical characteristics of the diseases which in turn is beneficial for quality of the medical care required for the treatment.
The global patient registry software market size was valued at US$ 805 Million in 2017, and is expected to witness a CAGR of 12.7% over the forecast period (2018 – 2026).
Figure 1. Global Patient Registry Software Market Share (%), by Region, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing burden of various chronic disease around the globe is expected to drive growth of the global patient registry software market
Increasing prevalence of various chronic diseases such as HIV, cancer, tuberculosis, and influenza around the world is expected to propel the market growth of global patient registry software significantly. For instance, according to the World Health Organization fact sheet of 2018, cancer was responsible for 8.8 million deaths in 2015, globally. Moreover, World Health Organization report of 2017 showed around 1.0 million deaths occurred due to HIV related illnesses worldwide. These factors are propelling growth of the patient’s registry software market.
Registry software aid in improving patient care in hospitals and various clinics, as physicians are able to maximize the treatment output with real-time monitoring, which maximizes the healthcare output. Patient registry software aids in maintaining patient records, which helps in better health care delivery.
However, slow rate of adoption and high cost of the software is expected to restrain growth of the market. Moreover, the annual subscription/renewal of the software and single user license are limiting the patient registry software market growth. Furthermore, misuse of patient information (data privacy) is one of the major factors hampering the market growth.
Figure 2. Global Patient Registry Software Market Share (US$ Mn), By Region, 2017
Source: Coherent Market Insights Analysis (2018)
North America is expected to be dominant in the global patient registry software market, owing to rising number of registered hospitals and increasing number of patient visits for physical checkups in the region. For instance, according to American Hospital Association annual survey of 2016, 5,534 total number of registered hospitals was reported in the U.S. Also, according to Healthcare Cost and Utilization Project 2017 report, there were 137.8 million emergency department visits in 2014, with a rate of 432 per 1,000 population. The number of emergency department visits increased 14.8% from 2006 to 2014. Also, several hospitals and clinics in the region are focusing on adopting e-Health services, which is expected to aid in growth of the market.
Increasing adoption of patient registries by government organizations is expected to significantly impact growth of the market
For instance, According to North American Association of Central Cancer Registries (NAACCR) 2018, Nine Canadian (8 Provinces and 1 territory) and 55 U.S. registries (49 states, Puerto Rico, and 4 metropolitan and 1 regional registry) were certified by NAACCR. The percentage of the North American population that is covered by high quality certified registries for 2018 is approximately 93%.
The insights in patient’s registry data can be useful for policymakers, for demonstrating that the particular service or item was provided properly to the patients meeting the specific characteristics, and to collect new information, which was not available in the existing clinical trials and research. The creation of disease specific data registries has been recommended for improving patient care. The use of registries to assess performance of health sector or risk-sharing arrangement is increasing in countries such as France, the U.K., Australia, and Germany. This is also expected to further support growth of the market.
Key players operating in the patient registry software market are Global Vision Technologies, Inc., Quintiles Inc., Dacima Software Inc., PatientCrossroads, Evado eClinical Solutions, Mckesson Corporation, Liaison Technologies, and Imagetrend, Inc.