Europe Master Patient Index Software Market is expected to reach US$ 433.3 Mn by 2028

PRESS RELEASE BY The Insight Partners 06 Jul 2021

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Software Segment has the Largest Share of Type in the Europe Master Patient Index Software Market during 2021–2028

According to The Insight Partners market research study on “Europe Master Patient Index Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, and Deployment,” is expected to reach US$ 433.3 million by 2028 from US$ 224.1 million in 2021. The market is estimated to grow at a CAGR of 9.9% from 2021 to 2028. The report provides trends prevailing in the Europe master patient index software market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as assistance in maintaining and managing clinical, financial, and demographic data of patients due to its advantages and adoption of cloud-based technologies are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of software.

Many pharmaceutical companies in the region are actively engaged in the development of the COVID-19 vaccine. Some have donated potential compounds for emergency use and clinical trials, including compounds formerly tested on other viral pathogens such as Ebola. Many companies utilize existing technologies that provide the ability to rapidly upscale production once a potential vaccine candidate is identified. Pharmaceutical companies prioritize research and development of COVID-19 related diagnostics, treatments, health technologies, and vaccines. Moreover, companies and research centers focus on the utilization of smart technologies to gather patient data, enabling them to generate insights and make data-driven decisions. Furthermore, the software offers a significant level of anonymity, allowing the patients to practice their right to privacy. Therefore, the preference for adopting patient data management systems such as EMR, EHR, master patient index software, and other technologies provides a favorable environment for the growth of the Europe Master Patient index software market during the forecast period.

The market for master patient index software market is segmented into type, and deployment. Based on type, the master patient index software market is segmented into software, and service. In 2020, based on type, the software segment held the largest share of the market, also the same segment is estimated to grow at the highest CAGR due to increasing development in the healthcare IT by the market players, and adoption patient data management software to enhance patient care during the forecast period. 

McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc., NextGate, MEDITECH, and Intersystems Corporation are among the leading companies in the Europe master patient index software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in August 2020, Allscripts and Sheba Medical Center have developed a collaboration to increase the pace of artificial intelligence technology and enhance patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, with a goal of transforming healthcare by 2030.

The report segments the Europe Master Patient Index Software market as follows:

By Type

  • Software
  • Service

By Deployment

  • Cloud-based
  • On Premises

By Country

  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
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