Patient Registry Software Market | Contrive Datum Insights

Market Overview:

The Global Patient Registry Software Market was valued at $1089.32 million in 2022, and is projected to reach $2,508.27 million by 2030, growing at a CAGR of 9.7% from 2023 to 2030.

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A patient register is a list of details about people who have the same illness or condition. Software for registering patients can be used to keep track of data and study the best ways to care for or help patients. Patient records are becoming more and more important in the health care system. Patient records can be used for many things, such as keeping track of results, studying the best ways to do things, and looking into new trends. Patient files have been around for a long time, but with electronic health records, it's easier than ever to collect and look over data. Because of this, patient involvement is likely to become a lot more important in the years to come. Most of the time, researchers have been the ones to write up patient notes.

Market Dynamics:

Key Trends: The most important thing on the world market is a collection of diseases

A big part of making sure everyone in a community stays healthy is keeping track of diseases. Because the population is getting older and there are more chronic and rare diseases, and because the government is trying to make patient records for each illness that cover the whole country, a lot of disease registries use patient register software. The World Health Organization (WHO) says that 17, 7 million people around the world died from CVDs in 2015. This is the same as 31 percent of all deaths in the world. In 2017, databases about cardiovascular illness made up the most. This was mostly because of how many heart diseases there were and how records were used to improve heart health.

North America will have the most growth

The market is divided into North America (the U.S. and Canada), Europe (Germany, France, the U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, and the Rest of Asia-Pacific), Latin America, and the Middle East and Africa. North America dominates the global patient registry software market and is also estimated to be the fastest growing region due to factors such as increasing government support for the development and implementation of patient registry software for population health management (PHM), point-of-care management, and health plan management. Europe is also the second largest market. The main thing that moves this area forward is the push for each country to make national patient records that can be linked to global patient registries. There is money to build global patient registries, which is also helping the patient register software business in Europe grow.

Drivers: Plans by the government to build patient records

As the need for community health management and health information sharing grows, governments all over the world are working to digitize and integrate healthcare systems, such as by making computerized disease registries. 

In the US, federal agencies such as the National Institutes of Health (NIH), Centres for Disease Control and Prevention (CDC), Centres for Medicare & Medicaid Services (CMS), Agency for Healthcare Research and Quality (AHRQ), Food and Drug Administration (FDA), and Agency for Toxic Substance and Disease Registry (ATSDR) along with several state agencies, are focusing on developing patient registries to determine the long-term outcomes of agents, devices, groups of drugs, or procedures.

Opportunities: The subscription strategy is used by a lot of people

The subscription model needs little money up front and makes it easier on healthcare systems because they don't need IT staff. This means that productivity goes up and costs go down. This model also lets sellers come up with new and creative ways to license their products and reach prospects and customers. Healthcare providers are using software with subscription plans more and more because it cuts down on the time it takes for new features to be useful. (They can also use it for a short period, as per their requirements). Several market players are promoting the subscription plan right now because it gives them a better chance to build trust and figure out what healthcare providers need. (Which, in turn, would help improve customer satisfaction). During the forecast period, players in the market should be able to take advantage of these benefits to grow their businesses.

Restrains: Concerns about privacy and data security

Concerns about data privacy and security are making it harder for healthcare groups to use patient registry solutions. This is because a breach in a data registry could expose private information about a large number of patients. In the past few years, the amount of healthcare data breaches has grown by a lot. About one-third of data breaches in healthcare lead to medical identity theft. This is mostly because there isn't enough internal control over patient information, policies and procedures are out of date or aren't followed, and staff isn't well trained. In the US, the Identity Theft Resource Center's 2019 leak list shows that there were 1,473 breaches, which is 17% more than in 2018. 35.5% of all the tracked breaches were only in the healthcare area. These danger factors could hurt the market in some ways.

Challenges: People don't know about it global Patient Registry Software 

At the moment, many people in the healthcare business, especially in developing and underdeveloped countries, don't know much about patient registries or the ways to make them more complete. In developed countries, where healthcare infrastructure is more advanced and EHR systems are widely used, this problem doesn't have much of an effect. But because many developing and underdeveloped countries are just starting to use HCIT, a lot of healthcare providers, payers, and government and non-government groups don't know about the HCIT solutions on the market, such as patient registry software. This problem can be solved by doing things like holding seminars, symposiums, workshops, and training events that focus on making more people aware of how patient registry software works and creating a skilled workforce that knows how to use these solutions well.

The patient registry software industry will be dominated by disease registries in 2020

Patients who have been identified as having a particular illness are listed in disease registries. The large market share of the disease registry sector can be attributed to the aging of the population, the rise in chronic and rare & new diseases, the increasing understanding of the importance of registries in health management, and the widespread adoption of EHRs.

The majority of patient registry software's final users are TPAs and government organizations

The COVID-19 pandemic's emergence and the need to analyze patient data for better public health management are both responsible for the segment's sizable share. Government agencies use patient registry tools to assess the results of particular disease-related patients. Governments can benchmark and standardize the treatment process for a specific patient group based on data outcomes, assess disease patterns/trends, and implement the necessary preventive measures. Building patient registries is a current emphasis for governments and government groups around the world, as opposed to using experimental study data obtained through random drug trials.

The region with the highest growth rate during the forecast time is Asia Pacific

The rising prevalence of chronic diseases, growing knowledge of the advantages of EHRs, advancements in healthcare systems, the growth of medical tourism in Asian nations, and the high demand for EHRs in Asian nations are the primary factors driving market growth in the Asia Pacific region. In Asia Pacific, the use of novel tools is growing. In this field, disease registries are of particular importance, whereas product registries for medical devices and other products are still in their infancy. Due to the high incidence of chronic conditions and the growing geriatric population in the area, there is a very high demand for EHRs.

Software Type insights:

In 2019, the standalone software section brought in the most money because its tools were easy to use and it had more features. Standalone software applications are made to deal with a single register, such as information about a patient's heart disease, rare disease, diabetes, or cancer. So, it is very thorough and easy to get information from. Also, the automatic update feature of standalone helps to cut down on the costs of IT overhead.

Over the next few years, the integrated segment is also likely to grow a lot. At the national level, an integrated system is a collection of software that helps keep track of the affected areas and analyze the clinical intervention. It will also help find out more about the number of diseases and how well programs work care. The program's different parts, plugins, and add-ons are meant to work together smoothly, which is helping the market for patient register software grow even more.

By-End-User insights:

Based on who uses the software, the market for patient registry software is divided into government and third parties, hospitals and medical practices, private payers, pharma and medical technology companies, and research organizations. In 2019, the government and third-party group brought in the most money. Over the next few years, the market for patient registry software is likely to grow because governments in both developed and emerging countries will use this software to reduce the number of diseases.

Over the next few years, the pharma and medical device companies segment is projected to grow in a profitable way. The growth is being driven by the fact that pharmaceutical, biotech, and medical device businesses are using these softwares to track real-world patient data. The information is also useful for clinical studies and for dealing with certain diseases. The research organization section is also expected to grow a lot because these groups are trying to stop the growing number of diseases around the world.

By Functionality insights:

Based on how well it worked, public health management was the most popular type of patient registry software in 2019. A shift from a Fee-for-Service (FFS) model to a Value-based Payment (VBP) model has happened because stakeholders want more options that help with value-based care delivery. PHM helps to standardize how doctors treat their patients, improve clinical outcomes, and lower the cost of disease care, which is another thing that is driving segment growth.

Over the next few years, the medical research and clinical studies section is expected to grow the most. Most of the time, these registries hold information about people who have a health problem. It may sometimes include information about a patient's health for a certain medicine, which helps to make a new drug. The point of care part of the market for patient registry software also has a lot of room to grow, thanks to its real-time data and low cost. Because of these things, the market for patient registry software is likely to grow, and there are still a lot of untapped opportunities.

Regional Insights:

Geographically, the global Patient Registry Software market has been segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and India, among others. This market will be dominated by the global region in the near future.

Due to the presence of populous countries such as India and China, which will increase the prevalence of chronic diseases, geriatric population, and geriatric population quantity, Asia Pacific is expected to post the highest CAGR of 12.1% during the patient registration software market's forecast period. The pharmaceutical industry.
In terms of revenue share, North America dominated the global Patient Registry Software market in 2019. Increasing disease prevalence and the requirement for population-based registration are propelling market growth in the region. In addition, expanding government initiatives have made the region a significant market contributor for Patient Registry Software. To make patient registration software more user-friendly and conducive to clinical research, the company is continually developing more user-friendly software. For instance, IQVIA introduced a new web-based registration solution for clinical trial information in August 2019.
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The Asia-Pacific region is anticipated to experience lucrative growth over the forecast period. In recent years, the adoption of electronic medical records has increased. Increasing pressure to reduce medical errors, repeated hospital visits, rising incidence of comorbidities, and rising diagnostic errors, as well as an aging population, are the primary factors propelling the market in this region. In addition, government initiatives, particularly in Japan, China, and South Korea, are propelling the expansion of the market for patient registration software. In May of 2018, for instance, the South Korean government invested $33.4 million to expand an artificial intelligence system designed to analyze patient medical records for improved diagnosis and treatment. In 2019, Fujifilm established FUJIFILM VET Systems in Japan to compete in the regional cancer registration software market.
Scope of Report:

Key vendors:

• 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)

• IBM Corporation (US) 

IBM Corporation (US) With its headquarters in Armonk, New York, and operations in more than 175 nations, the International Business Machines company (IBM), also known as Big Blue, is an American multinational technology company. It offers hosting and advising services in a variety of fields, including mainframe computers and nanotechnology, and is an expert in computer hardware, middleware, and software. With 19 research facilities spread across a dozen nations, IBM is the biggest industrial research organization in the world. From 1993 to 2021, IBM held the record for the most annual U.S. patents produced by a business.

The Computing-Tabulating-Recording firm (CTR), a holding firm for producers of measuring and record-keeping equipment, was the precursor to IBM when it was established in 1911. After changing its name to International Business Machines in 1924, it quickly rose to the top position among suppliers of punch-card tabulating devices. IBM would rise to prominence over the following several decades as a market leader in a number of cutting-edge technologies, including electronic typewriters, electromechanical calculators, and personal computers. The IBM mainframe, represented by the System/360, was the preeminent computing platform during the 1960s and 1970s, and the firm produced 70% of computers globally and 80% of computers in the United States.

• IQVIA Holdings (US)

IQVIA, which used to be called both Quintiles and IMS Health, Inc., is an American multinational company that serves the health information technology and clinical research businesses. IQVIA is a company that helps with the research and marketing of biopharmaceuticals. Its main focus is on Phase I–IV clinical trials and related laboratory and analytical services, such as consulting. It has more than 88,000 workers in more than 100 countries, and as of August 2021, its market value was $49 billion. In 2017, it was said that IQVIA was one of the biggest contract research organizations in the world.

• OpenText Corporation (Canada)

OpenText Corporation is a Canadian company that makes and sells enterprise information management (EIM) software. OpenText can also be written as "opentext."OpenText has its main office in Waterloo, Ontario, Canada. As of 2022, it will be Canada's fourth-largest software company, and in 2016, Mediacorp Canada Inc. named it one of Canada's top 100 employees. Large companies, government agencies, and professional service firms use OpenText software to handle their content or unstructured data. OpenText's products are made to meet needs in information management, such as managing large amounts of material, meeting regulatory requirements, and managing the mobile and online experience.

• Optum (US)

Optum, Inc. is an American health care company and pharmacy benefit manager. Since 2011, it has been a part of UnitedHealth Group. UHG made Optum by combining its drug and care delivery services into a single brand called Optum. Optum has three main businesses: OptumHealth, OptumInsight, and OptumRx. In 2017, 44 percent of UnitedHealth Group's income came from Optum. As of 2019, Optum's sales have gone over $100 billion. Also at the beginning of 2019, the media paid a lot of attention to a lawsuit that Optum brought against former executive David William Smith over trade secrets. Smith had left Optum to join Haven, a joint healthcare venture between Amazon, JPMorgan Chase, and Berkshire Hathaway.

• Premier, Inc. (US)

Premier, Inc. is an American company that works to make healthcare better. Its main office is in Charlotte, North Carolina, and it also has a location at 43-21 34th St, Long Island City, NY 11101, United States. The company went public on October 1, 2013. The Malcolm Baldrige National Quality Award was given to Premier in 2006.In the early 2000s, Premier was a group of hospitals that bought things together to save money.

In 2017, Premier paid $51.5 million to buy Stanson Health. In 2019, Premier paid $35 million to buy the technology company Medpricer. In June 2020, Premier and McLaren Health Care worked together to buy a small share of PPE maker Prestige Ameritech. In 2021, the company will hire Michael J. Alkire as its new CEO.

Industry Development:

In August 2019, Evado released the eConsent App so that healthcare institutions could use it to get patient approval for clinical trials, studies on diseases, or registries.

In November 2019, Optum, Inc. bought Polyclinic. Polyclinic is a multispecialty clinic where US doctors give basic care. The purchase helps Optum grow its healthcare business.

Market Segmentation:

By Registry type

• Disease Registry
• Type
• Cardiovascular Registry
• Diabetes Registry
• Cancer Registry
• Rare Disease Registry
• Others
• Health Service Registry
• Product Registry
  • Type
    • Medical device Registry
    • Drug Registry

By Software type  

• Standalone
• Integrated

By End User             

• Hospitals
• Government and third-party organizations
• Pharma
• Biotech and Medical Device Companies
• Others

By Application

• Government Organizations and Third-party Administrators (TPAs),
• Hospitals and Medical Practices
• Private Payers
• Pharmaceutical
• Biotechnology
• Medical Device Companies
• Research Center

By Functionality    

• Population Health Management
• Health Information Exchange
• Patient Care Management
• Medical Research and Clinical Studies
• Others

Regional Insights:

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Conclusion:

In this Patient Registry Software Market report the various key trends, drivers, restraints, segmentation insights, key vendors are clarified. On the basis of registry type insights the registry divided into, disease registry, health service registry & product registry.

On the basis of software insights there are two types standalone & integrated. In 2019, the standalone software section brought in the most money because its tools were easy to use and it had more features. Standalone software applications are made to deal with a single register, such as information about a patient's heart disease, rare disease, diabetes, or cancer. So, it is very thorough and easy to get information from. Also, the automatic update feature of standalone helps to cut down on the costs of IT overhead.

Over the next few years, the integrated segment is also likely to grow a lot. At the national level, an integrated system is a collection of software that helps keep track of the affected areas and analyse the clinical intervention. It will also help find out more about the number of diseases and how well programs work care. The program's different parts, plugins, and add-ons are meant to work together smoothly, which is helping the market for patient register software grow even more.

By-End-user divided into hospitals, Government and third-party organizations, pharma, biotech and medical device companies & others. Based on who uses the software, the market for patient registry software is divided into government and third parties, hospitals and medical practices, private payers, pharma and medical technology companies, and research organizations. In 2019, the government and third-party group brought in the most money. Over the next few years, the market for patient registry software is likely to grow because governments in both developed and emerging countries will use this software to reduce the number of diseases.

Over the next few years, the pharma and medical device companies segment is projected to grow in a profitable way. The growth is being driven by the fact that pharmaceutical, biotech, and medical device businesses are using these softwares to track real-world patient data. The information is also useful for clinical studies and for dealing with certain diseases. The research organization section is also expected to grow a lot because these groups are trying to stop the growing number of diseases around the world.

 On the basis of application insights service is divided into Government Organizations and Third-party Administrators (TPAs), hospitals and medical practices, private payers, pharmaceutical, biotechnology, medical device companies, research centre.

Furthermore, on the basis of the geography the market is divided into North America, Europe, Asia-pacific, The Middle East & Africa and Latin America. Based on how well it worked, public health management was the most popular type of patient registry software in 2019. A shift from a Fee-for-Service (FFS) model to a Value-based Payment (VBP) model has happened because stakeholders want more options that help with value-based care delivery. PHM helps to standardize how doctors treat their patients, improve clinical outcomes, and lower the cost of disease care, which is another thing that is driving segment growth.

Over the next few years, the medical research and clinical studies section is expected to grow the most. Most of the time, these registries hold information about people who have a health problem. It may sometimes include information about a patient's health for a certain medicine, which helps to make a new drug. The point of care part of the market for patient registry software also has a lot of room to grow, thanks to its real-time data and low cost. Because of these things, the market for patient registry software is likely to grow, and there are still a lot of untapped opportunities.