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Patient Registry Software Market - Current Market And Future Players By Transparecy Market Research

|Includes: Meridian Resource Corp. (TMR)

Patient registries are organized systems of data collection for scientific, clinical, or policy purposes. They are the valuable component of randomized controlled trials, used in determining real-world outcomes in the field of medicine. Registries can also be used to evaluate outcomes for various purposes, such as the natural history of a disease, drug or device safety, and the real-world effectiveness of therapies. They can also improve the consistency, quality, and effectiveness of patient care at the point of care. Patient registry software allow individual clinics to carry out quality measurements and comparisons, revealing better opportunities for performance and clinical improvements. With population growth, the prevalence of chronic diseases such as diabetes and cardiovascular diseases has been increasing, resulting in the rise of remote monitoring processes for the management of public health. People have become more aware about chronic diseases and have begun taking accurate and effective treatment for them. Therefore, the adoption of patient registry software for these purposes has increased in a significant manner during the recent years. Various initiatives taken by governments around the globe for improving population health management is another key factor providing a push to the growth of the patient registry software market.

The need for efficiency and accuracy in patient database management in order to prevent any treatment or therapy error and data loss is further creating the demand for patient registry software. The high costs of clinical trials and other research studies also increases the need for patient registry software. The interoperability issues and patient data privacy and security concerns are considered to be major hindrances to the growth of the patient registry software market. The worldwide lack of healthcare IT professionals also slows down the growth of patient registry software market. The concept of Health 2.0 Social Media in healthcare and cloud-based patient registry software is anticipated to provide a good growth opportunity for patient registry software market in the future. The global patient registry software market generated revenues worth US$ 867.9 Mn in 2014 and is projected to expand at a CAGR of 10.3% during the forecast period (2015 - 2023) to reach US$ 2,077.1 Mn by 2023.

On the basis of type, the patient registry software market is categorized into public domain registry software and commercial registry software. The applications of public domain registry software range from accurate data collection and archiving to data analysis. The growing number of chronic diseases worldwide has led to the increased adoption of public domain registry software, given their simplified architecture and easy operability. On the other hand, commercial registry software is widely adopted by end-users, as they are highly scalable and flexible as compared to public domain registry software.

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On the basis of disease areas, the patient registry software market is segmented into diabetes registry, cardiovascular registry, cancer registry, rare disease/orphan disease registry, and other chronic disease registry. Treatment of diabetes in a primary care setting is complex because of the presence of co-morbidities, complications, and the time constraints of the patient interaction. Diabetes registry software keeps track of the population suffering from diabetes, its characteristics, management, and outcomes with or without treatment.

On the basis of end-users, the patient registry software market is segmented into government and commercial segments. Governments have taken various initiatives for disease control and population health management by introducing pilot programs region-wise, which in turn has led to increased adoption of patient registry software.

In the coming years, Asia Pacific, Latin America, and Middle East and Africa (NYSEMKT:MEA) would be the major geographies that would drive the growth of the patient registry software market. In 2014, the key patient registry software vendors included Global Vision Technologies, Inc., Quintiles Inc., Dacima Software Inc., PatientCrossroads, and Evado eClinical Solutions.

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