Patient Registry Software Market Share, Global Forecast to 2027

Patient Registry Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Software (Standalone and Integrated), Database (Public and Commercial), Registry (Product Registries, Disease Registries, and Health Service Registries), Mode of Delivery (On-Premise and Cloud-Based ), and Pricing Model (Subscription and Ownership) and Geography

Publication Month : Feb 2021

  • Report Code : TIPHE100001205
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 193
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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. The availability of free license for patient registries increases their adoption in healthcare centers. The US boasts a few of the outstanding clinical registries that offer a competitive advantage to the country over other countries in North America, as well as over a few countries in the world. A few of these registries are the Cystic Fibrosis Foundation Patient Registry, American College of Cardiology’s CathPCI Registry, and National Cancer Institute’s Surveillance Epidemiology and End Results database.

Lucrative Regions in Patient Registry Software Market

Lucrative Regions in Patient Registry Software Market
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Market Insights

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. Further, in January 2021, MedTech Europe announced its plans to regulate utilization of digital health in Europe to improve the quality of healthcare and deal with health crises. Moreover, in 2017, the former president of the US (Barack Obama) introduced the Health Information Technology for Economic and Clinical Health 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 did not. This initiative led to massive increase in adoption of electronic health records and patient registries for the evaluation of specified outcomes for patients who are suffering from a particular disease or condition. The healthcare ecosystems in the Middle East & Africa are also thriving due to the adoption of modern health infrastructure. In December 2020, the collaboration of the Ministry of Health and Prevention’s Riayati and Pure Health announced its plan to launch National Unified Medical Record system in 2021. The new system would be connected to more than 3,000 private and public healthcare institutions in Dubai. It would enable experts to collect patient data for further data analysis. In addition, the UAE government stated that the new technology would offer an efficient solution for population health management along with world-class digital health infrastructure management for healthcare institutions. Therefore, the surging incorporation of digital tools in the healthcare structure is driving the patient registry software market.

Products: Software Insights

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.

Patient Registry Software Market, by Software – 2019 and 2027

Patient Registry Software Market, by Software – 2019 and 2027
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Pricing Model Insights

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. This model provides better entry-level pricing and has the ability to add features according to the requirement of the end users. Moreover, subscription software vendors continually offer new releases and application updates, most of which are available to all subscription users at no additional cost. The above-mentioned advantages offered by the subscription model are likely to augment the growth of the segment over the coming years.

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Patient Registry Software Market: Strategic Insights

patient-registry-software-market
Market Size Value inUS$ 930.06 Million in 2019
Market Size Value byUS$ 2,426.58 Million by 2027
Growth rateCAGR of 12.9% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Players operating in the patient registry software market adopt collaboration and partnership strategies as well as they introduce technologically advanced offerings to meet the rising demands from end users, and these strategies significantly support the growth of the market.

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 Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South and Central America

    • Brazil
    • Argentina
    • Rest of South and Central America

Company Profiles

  • IQVIA Inc.
  • FIGmd Inc.
  • Medstreaming
  • Open Text Corporation
  • Evado Clinical
  • LUMEDX
  • CEDARON
  • IBM Corporation
  • Mckesson Corporation
  • Dacima Software Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Software , Database , Registry , Mode of Delivery , and Pricing Model and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

The List of Companies - Patient Registry Software Market

  1. IQVIA Inc.
  2. FIGmd Inc.
  3. Medstreaming
  4. Open Text Corporation
  5. Evado Clinical
  6. Lumedx
  7. Cedaron
  8. IBM Corporation
  9. Mckesson Corporation
  10. Dacima Software Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

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.

  1. 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.

  • 3.1 Macro-Economic Factor Analysis:

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.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 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.

  1. 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.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

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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