Patient Registry Software Market Expected to Reach $2.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Patient Registry Software Market," The patient registry software market was valued at $993.28 million in 2021, and is estimated to reach $2,508.27 million by 2031, growing at a CAGR of 9.7% from 2022 to 2031.

There are different purposes for using of patient registries software. According to the National Institutes of Health, Registries can be used to recruit patients for clinical trials to learn about a particular disease or condition, to develop therapeutics, or to learn about population behavior patterns and their association with disease development. Patient registries can also be used to monitor outcomes and study best practices during the course of the treatment. They may pursue a specific, focused research agenda, may collect data for a limited time to answer a specific research question, or may collect data on an indefinite basis to answer a variety of existing and emerging research questions. Patient registries may also include the collection of tissue or blood samples collected in a variety of ways. The creation and use of researcher-generated patient registries has grown steadily for several decades. The examples of individual researcher-generated registries can be found at the AHRQ Registry of Patient Registries.

Major driving factors of patient registry software market size include increase in the usage of electronic health records (EHRs), rise in prevalence of chronic diseases, surge in government support for healthcare, rise in geriatric population and increase in potential benefits of patient registry in hospitals and research organizations. Furthermore, increase in usage of the stored data for post-marketing surveillance and surge in government initiatives to build patient registries boost the growth of the market. However, concerns related to the security and privacy of the data and dearth of skilled resources hinder the market growth. Conversely, the increase in awareness regarding technologies is expected to create lucrative opportunities for the patient registry software market growth.

On the basis of registry type, the market is classified into disease registry, health service registry and product registry. The disease registry segment is further segmented by type into cardiovascular registry, diabetes registry, cancer registry, rare disease registry and others. The product registry segment is further divided into medical device registry and drug registry. The disease registry segment is projected to exhibit the fastest market growth during the forecast period, owing to advantages that are offered by these software and increased adoption of patient registry software.

On the basis of software type, the market is classified into standalone and integrated. The integrated segment is anticipated to grow at the highest rate, owing to surge in number of integrated software system adopted in hospitals and rise in prevalence of chronic conditions. Moreover, rise in preference of the cardiovascular diseases and cancer also helps in growth of the patient registry software market share.

On the basis of functionality, the market is classified into population health management, health information exchange, patient care management, medical research and clinical studies and others. The medical research and clinical studies segment is anticipated to grow at the highest rate, owing to surge in demand for medical research and clinical studies related to various healthcare issues, which is mainly due to increase in the incidences of various diseases. Moreover, rise in number of hospital visits also contributes toward the growth of the market.

On the basis of end user, the market is classified into hospitals, government and third party organizations, pharma, biotech and medical device companies and others. The pharma, biotech and medical device companies segment is anticipated to grow at the highest rate, owing to surge in number of pharmaceutical, biotechnology and medical device companies, which is mainly due to increase in demand of pharmaceutical and biotechnology products.

On the basis of region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). In 2021, North America was the dominant region, and is expected to remain dominant throughout the forecast period, owing to the patient registry software market trends like high prevalence rate of chronic diseases, and surge in number of treatment procedures performed in the region. However, Asia-Pacific is expected to witness highest CAGR during the analysis period, owing to presence of high populace countries such as India and China, which increases prevalence rate of chronic diseases, geriatric population, and number of pharmaceutical companies.

KEY FINDINGS OF STUDY

• By registry type, the disease registry segment accounted for major market share of the global market in 2021.
• On the basis of software type, the integrated segment accounted for largest market share in 2021 and is expected to remain dominant during the patient registry software market forecast period.
• On the basis of functionality, the population health management segment accounted for largest market share in 2021 and is expected to remain dominant during the forecast period.
• By end user, the pharma, biotech and medical device companies segment is expected to exhibit a prominent growth rate of 11.2% during the forecast period.
• Region-wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 11.3% during the forecast period.