Patient Registry Software Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[203+ Pages Report] According to Facts and Factors, the global patient registry software market size was valued at USD 1,447.89 million in 2022 and is predicted to surpass USD 3,850.23 million by the end of 2023. The patient registry software industry is expected to grow by a CAGR of 13.00%.

Market Overview

Patient registry software is a kind of healthcare information technology designed to analyze, manage, store, and collect patient data. The software plays a crucial role in maintaining and organizing comprehensive records of patient information for a particular group of people or disease.

Patient registry software gathers a variety of information on patient-related aspects like medical history, demographic data, treatment outcomes, and other relevant details. The data collected from different sources serves as a high-quality source for research departments, hospitals and other healthcare organizations.

Key Insights

• As per the analysis shared by our research analyst, the global patient registry software market size is estimated to grow annually at a CAGR of around 13.00% over the forecast period (2023-2030).
• In terms of revenue, the global patient registry software market size was valued at around USD 1,447.89 million in 2022 and is projected to reach USD 3,850.23 million by 2030.
• Rising focus on population health management is driving the growth of the global patient registry software market.
• Based on the end-users, the government and third-party organizations segment is growing at a high rate and is projected to dominate the global market.
• Based on the functionality, the population health management segment is projected to swipe the largest market share.
• Based on the software type, the integrated segment is expected to dominate the global market.
• Based on the registry type, the integrated segment is expected to dominate the global market.           
• Based on region, Asia Pacific is expected to dominate the global market during the forecast period.

Growth Drivers

• A rising focus on population health management is driving the growth of the global market.

There is a significant shift towards population health management, which considers the health of the entire population. The patient registry software plays an important role in aggregating and analyzing the data for managing the entire population, identifying trends, and implementing preventive strategies.

Also, government agencies across the globe are funding the healthcare sectors to innovate advanced IT solutions like patient registry software to offer improved healthcare delivery.

Therefore, such a landscape is likely to positively impact the growth trajectory of the global patient registry software market. For instance, ESO Solutions collaborated with the Virginia EMS System to offer an EMS data repository for the analysis and collection of data to come up with new trends and key insights.

Restraints

• Increasing clinical resources and trials are likely to foster growth opportunities in the global market.

The patient registry software helps clinical research and trials in monitoring data, collection, and participant recruitment. Therefore, the increasing number of clinical trials all across the globe is boosting the demand for these solutions.

Furthermore, emerging events like the COVID-19 pandemic have significantly highlighted the importance of robust healthcare data management. Therefore, the scope of the global patient registry software market is expected to widen during the forecast period.

Opportunities

• High implementation cost is likely to hinder the growth of the global market.

The initial costs related to the patient software, like training expenses, customization, and licensing fees, are likely to hamper the growth of the patient registry software industry. Small healthcare organizations cannot afford to extend their budget for implementing the patient registry software.

Additionally, integrating patient registry software with the existing legacy system is complex, which is further expected to slow down the growth trajectory of the global market. For instance, Quantori, LLC came up with a Registry Science Practice in April 2022. It is aimed to create a registry program for researchers, clinicians, and patients.

Challenges

• Complex regulatory landscape is a big challenge in the market.

A complex regulatory framework deters the developments in healthcare. The regulation and compliance requirements across different regions are time-consuming and challenging. Therefore, adhering to these regulations is a big challenge in the patient registry software industry.

Segmentation Analysis

The global patient registry software market can be segmented into end-user, functionality, software type, registry type, and region.

By end-user, the market can be segmented into pharma, biotech & medical device companies, government & third-party organizations, hospitals, and others. The government and third-party organizations segment account for the largest share of the patient registry software industry.

The government health agencies utilize the patient registry software to track public health trends. It helps them analyses data on disease, prevalence, population, health, and treatment outcomes, which is a really important aspect in formulating public health policies and interventions. Both third-party organizations and governments are heavily dependent on patient registry software for clinical research and trials. The software assists the companies in targeting potential participants, analyzing outcomes, and tracking the progress of the trials. Therefore, such a landscape contributes to the high growth rate of the segment.

By functionality, the market can be segmented into medical research & clinical studies, patient care management, health information exchange, population health management, and others. The population health management segment is likely to swipe the largest share of the global market. The healthcare system is transitioning from a fee-for-service model to value-based care, which is a major reason for the high growth rate of the segment.

Population health management is a major instrument in the shift as it helps enhance health outcomes and thereby manage the overall health of the population instead of emphasizing entirely individual encounters. Population health management also helps organizations address public health challenges like preventive care and chronic diseases.

Therefore, healthcare providers can implement targeted interventions to reduce the prevalence of chronic conditions. Therefore, it is expected to foster growth opportunities in the segment in the coming years.

By software type, the market can be segmented into integrated and standalone. The integrated segment is expected to dominate the global patient registry software market in the forthcoming years. Integrated patient registry software offers end-to-end solutions for encompassing patient demographics, data management, treatment outcomes, medical histories, and other relevant information. It is a kind of a comprehensive approach to healthcare organizations looking forward to a single platform for various requirements.

The integrated systems are made for better interoperability, thereby assisting seamless integration with other healthcare IT systems and technology. This feature is vital for ensuring that patient data can easily be shared across different healthcare settings within a safe environment.

By registry type, the market can be segmented into product registry, health service registry, disease registry, and others. The disease registry segment is poised to witness significant growth prospects during the anticipated period. The rise in chronic diseases like cancer, cardiovascular diseases, and diabetes is driving the need for disease-specific data collection and management.

Therefore, disease registry software is important in monitoring and managing the prevalence of these conditions. Healthcare providers, pharmaceutical companies, and researchers are looking forward to real-world evidence in healthcare decision-making. The disease registry is a valuable source of real data to understand the effectiveness and safety of the treatment outside of the controlled clinical trial settings.

Report Scope

Regional Analysis

• Asia Pacific to dominate the global market.

Asia Pacific accounts for the largest share of the global patient registry software market. The region comprises different nations with diverse healthcare systems ranging from highly developed infrastructure in some countries to emerging healthcare systems in other parts of Southeast Asia.

Also, the governments in the region are taking initiatives to upgrade healthcare policies and encourage the adoption of patient registry software. Regulatory framework, research funding, and public health programs are likely to impact the market’s growth positively during the forecast period.

Furthermore, several countries in the region are undergoing digital health transformation by incorporating telemedicine, electronic health records, and other health IT solutions. Patient registry software is more likely to be a part of this broad trend toward digitization in the healthcare sector. Therefore, such a landscape is likely to contribute to the high growth rate of the regional market.

North America is likely to grow steadily during the forecast period due to its growing focus on improving interoperability among different healthcare IT systems. Patient registration software integrates with electronic health records to widen the scope of the system.

Moreover, several healthcare organizations in the region are adopting the population health management strategy to enhance overall health outcomes and lower healthcare costs. Therefore, the patient registry software is likely to play an important role in supporting these initiatives.

For instance, The Rare Diseases Clinical Research Network (RDCRN) came up with a solution to contact registration that focuses on connecting patients with rare diseases with advanced rare disease research and researchers.

Competitive Analysis

The key players in the global patient registry software market include:

• IQVIA Holdings Inc.
• Phytel Inc.
• Dacima Software Inc.
• FIGmd Inc.
• Optum Inc.
• LUMEDX Corporation
• CEDARON GROUP LTD.
• McKesson Corporation
• Dendritech Inc.
• ImageTrend Inc
• Medstreaming
• Global Vision Technologies Inc.

For instance, Seqster collaborated with the National Pancreas Foundation (NPF) in January 2022. The major goal of this collaboration is to create the largest dynamic pancreatic patient disease database.

The global patient registry software market is segmented as follows:

By End-User Segment Analysis

• Pharma, Biotech & Medical Device Companies
• Government & Third-Party Organizations
• Hospitals
• Others

By Functionality Segment Analysis

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

By Software Type Segment Analysis

• Integrated
• Standalone

By Registry Type Segment Analysis

• Product Registry
• Health Service Registry
• Disease Registry
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America