Global Patient Registry Software Market is Poised to obseve a growth rate of 11-14% by 2027


Rising utilization of electronic health records (EHR) & eHealth solutions, the increasing amount of chronic or rare diseases, and government initiatives to create patient registries are some of the key factors driving the global market.

Patient registry is an organized system for collecting uniform data from a group of People who have the same disease or treatment. It is a complex methodology that answers research questionnaires for population-related research. The patient registry database assists healthcare providers in monitoring the results of a clinical study, or treatment, or for tracking an implant in a patient.

Covid-19 led to Rapid Growth of the Patient Registry Software Market

During the pandemic, the patient register was a valuable resource for analyzing trends in Covid-19 vaccine clinical studies. Clinical experiments were halted at hospitals due to lockdown and government constraints. The simplicity of tracking patient data or any adverse incidence related to a clinical study is a significant benefit of patient registry software.

Government bodies in Important nations such as the U.S. adopted patient registry software to support nationwide tracking and reporting of infections/immunization. There was a rapid growth in the usage of patient registry software, for recording patient information, vaccination supply information, and maintaining other related records. The software helped Covid-19 cases to be managed uniquely across different agencies and organizations.

Growing Cases of Chronic & Rare Diseases, Increased Incorporation of EHR & eHealth Solutions, Helpful Government Initiatives, and Widening Application Horizon of the Software Fuels the Patient Registry Software Market

Growing prevalence of chronic & rare diseases, the increasing adoption of EHR & eHealth solutions, and the Helpful government initiatives taken to incorporate patient registry software in the healthcare sector are some of the pivotal factors driving the market. Patient registry software application areas are changing rapidly. These registries are currently designed to aid clinical research medical adherence analysis, post-marketing surveillance, and management of drugs and medical devices.

The growth in the number of novel or rare chronic diseases has resulted in an increase in R&D investments for drug discovery, resulting in an increase in the number of clinical trials. Patient registries are crucial in healthcare and clinical research analyses. The program is used to track and analyze clinical trial results. For instance,

§  In January 2022, IQVIA partenerd with GO2 Foundation for Lung Cancer to develop an enhanced Global Lung Cancer Registry. This registry will safely collect data from patients throughout the world and will be accessible to researchers and patients to identify the trends in a clinical trial

Key Challenges to the Growth of Patient Registry Software Market

The main impediment to market expansion is the inconsistency of data collection formats, which has resulted in a lack of interoperability and integration in patient registries. Other important factors that are anticipated to stymie the expansion of the patient registry software market are patient data security and a dearth of experienced specialists.

North America Holds the Largest Share of the Global Patient Registry Software Market

North America holds the dominant market share of the patient registry software market. This can be primarily explained by government support to establish and implement patient registries in different clinical studies, advanced health management programs, experts availability, major firms presence in the region, and the region's advance healthcare system. The market growth in the APAC region is mainly fuelled by growing cases of chronic diseases due to the growing aging population. The rise in demand to improve the healthcare system and reduce its costs, increasing demand for EHRs, growing medical tourism, and rising awareness about the benefits of EHR is expected to drive market growth in Asian countries.

Competitive Landscape Analysis : Patient Registry Software Market

The key players operating in IBM Corporation, IQVIA Holdings, OpenText Corporation, Optum, ArborMetrix Inc., FIGmd, Dacima Software Inc., and ImageTrend Inc, among others. 

Aggressive Growth Strategies Employed by Companies to Establish Their Foothold in the Patient Registry Software Market

Players operating in this market are employing organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to gather more market share. For instance,

§  In Feb 2023, the Polycystic Kidney Disease (PKD) Foundation collaberated with IQVIA for Building the ADPKD Registry, which will track longitudinal quality-of-life information from patients across North America. This collaboration will allow the registry to compare patient-reported data with patient records in clinical trial data, and with new interoperability rules taking effect, this will become easier as patients participating in the registry release their electronic health records (EHRs)

 

The Patient Registry Software market is poised to grow even more in years to come because of the rising cases of chronic diseases, the necessity to integrate and digitalize health care records, the growing investment in R&D and the amount of clinical trials, and aggressive organic and inorganic growth strategies followed by the players.

 

Get Detailed Insights on Patient Registry Software market @ https://meditechinsights.com/patient-registry-software-market/

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