The North America patient registry software market is expected to grow from US$ 385.9 million in 2020 to US$ 943.2 million by 2027; it is estimated to grow at a CAGR of 13.6% from 2020 to 2027.
The ongoing revolution of digital infrastructure in healthcare across the region is spurred by regulations enforced and investments provided by the government authorities. In addition, rising demand for data collection for analysis and increasing pressure on healthcare providers to reduce the cost of treatments and procedures are leading to the progress of healthcare digitalization in countries worldwide. Moreover, in 2017, the former president of the US (Barack Obama) introduced the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009. This legislation offered financial incentives to healthcare providers to incorporate IT solutions in various processes, whereas enforced financial penalties on those who didn’t. This initiative led to massive increase in the adoption of electronic health records (EHRs) and patient registries for the evaluation of specified outcomes for patients who are suffering from a particular disease or condition. Therefore, the surging incorporation of digital tools in the healthcare structure drives the growth of the patient registry software market.
The effectiveness of patient registry software to gather and analyze patient data is expected to have constructive impact on the adoption of patient registry software in the region. Moreover, majority of the market players, research centers, and academic institutions are focusing on the adoption of patient registries with an aim to streamline the patient data collection and analysis. In February 2021, the Leukemia & Lymphoma Society (LLS) announced strategic partnership with Ciitizen, a significant player in digital health solution in order to study on the relation between coronavirus and vaccination amongst blood cancer patients. The institution launched LLS National Patient Registry in order to gather data of blood cancer patients for the study. Further, in April 2020, the American Heart Association announced development of a novel patient registry to collect data, which will help the researchers to understand co-relation between coronavirus, cardiovascular diseases, and related treatment protocols. Moreover, in July 2020, Oracle and the National Institutes of Health (NIH) established a patient data registry to gather COVID-19 patients’ data. The partnership has termed this platform as COVID-19 Prevention Network (CoVPN). In addition, in April 2020, IQVIA Inc. announced the launch of a broad and open patient registry platform for advanced understanding and research of covid-19. These developments are likely to have constructive impact on the North America patient registry software market during and post-pandemic period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the patient registry software market. The North America patient registry software market is expected to grow at a good CAGR during the forecast period.
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North America Patient Registry Software Market Segmentation
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
By Country
North America
- US
- Canada
- Mexico
Companies Mentioned
- IQVIA Inc.
- FIGmd Inc.
- Medstreaming
- Open Text Corporation
- Evado Clinical
- LUMEDX
- CEDARON
- IBM Corporation
- Mckesson Corporation
- Dacima Software Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Software, Database, Type of Registry, Mode of Delivery, and Pricing Model
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
The List of Companies - North America Patient Registry Software Market
- IQVIA Inc.
- FIGmd Inc.
- Medstreaming
- Open Text Corporation
- Evado Clinical
- LUMEDX
- CEDARON
- IBM Corporation
- Mckesson Corporation
- Dacima Software Inc
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
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We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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