Patient Registry Software Market: Emergence of cloud-based patient registry solutions

[Snehal Shaha]

Cloud-based patient registry solutions have emerged as effective tools that offer end users enhanced data accessibility and real-time analysis. Moreover, these solutions are user friendly, scalable, and adaptable for any specialty or organization.
The use of cloud-based patient registry solutions helps deliver insights from a multi-terabyte database anywhere, anytime, and on any platform, with ease. In addition, these solutions do not require any upfront capital investment for hardware and provide faster data transfer between organizations. Considering these advantages, the preference for cloud-based patient registry solutions is expected to increase among end users during the forecast period.
The global Patient registry software market is projected to reach USD 2.8 billion by 2026 from USD 1.4 billion in 2021, at a CAGR of 15.0% during the forecast period.
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Market Segmentation:
On the basis of type of registry, the disease registries segment accounted for the largest share of the patient registry software market in 2020. The large share of this segment can be attributed to the increase in the aging population, rising prevalence of chronic and rare & new diseases, growing awareness on the role of registries in health management, and the adoption of EHRs across the globe.
Based on end user, the hospitals & medical practices segment is expected to register the highest CAGR during the forecast period. Factors responsible for the growth of this segment are growing prevalence of research, QM and improvement, facility planning and marketing, and monitoring patient outcomes.
Regional Analysis:
North America accounted for the largest share of the market in 2020, followed by Europe and Asia Pacific. The increasing need to integrate healthcare systems, government funding for developing patient registries, rising focus on PHM and HIE, increasing adoption of HCIT as a cost-containment measure are some of the factors driving the growth of the market in North America.
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Top Key Players:
Some of the prominent players in this patient registry software market are IBM Corporation (US), IQVIA Holdings (US), OpenText Corporation (Canada), Optum (US), Premier, Inc. (US), ArborMetrix, Inc. (US), FIGmd (US), McKesson Corporation (US), Syneos Health (US), Dacima Software, Inc. (Canada), ifa Systems AG (Germany), Medstreaming- M2S (US), ImageTrend, Inc. (US), Evado Clinical (Australia), WIRB Copernicus Group (US), Global Vision Technologies, Inc. (India), Conduent, Inc. (US), Elekta AB (Sweden), Cedaron (US), LUMEDX (US), Armus Corp (US), Phamax AG (Switzerland), and Versaform Systems Corp (US), ESO Solutions (US) and Ordinal Data, Inc. (US).