Patient Registry Software Market Poised to Garner Maximum Revenues During 2018 & 2026
The patient registry is a collection of data about the individuals with a specific diagnosis or with the specific risk factors for a disease. Patient registry have various uses such as, to establish characteristics of the disease, monitoring of treatment, and management in clinics. These patient registry software are configurable and offers unparalleled flexibility allowing user to design databases according to data collection needs. These registries are global online databases designed to look for patterns in treatment and diagnostics that can lead to improved treatment options and outcomes for the patients. These software based patient registries are easily accessible online as well as offline. Social network of patients and families encouraged to engage in the patient’s healthcare and supported by tools that enable them to track their health outcomes and support self-care.
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The use of new technology increases in the clinical research and medical practice, patient registries are positioned to leverage the innovations to support everyday data collection. Especially, digital health and e-health are emerging as an important trend.
Health care systems costs in developed countries are rising, due to introduction of advanced medical technology and hospital care. Moreover, rapid adoption of smart phones and health sensors worn on the body, provide access to data on wide range of physiological, biological information about the patient to hospitals and health providers for better treatment solutions. These factors are playing a vital role in propelling growth of the patient’s registry software market. Registry software are providing ideal patient care in hospitals and various clinics, the physicians are able to maximize the treatment output with the real time monitoring maximizes the healthcare output.
Increasing burden of various chronic disease around the globe is expected to drive growth of the global patient registry software market
Increasing prevalence of various chronic diseases such as HIV, cancer, tuberculosis, and influenza around the world is expected to propel the market growth of global patient registry software significantly. For instance, according to the World Health Organization fact sheet of 2018, cancer was responsible for 8.8 million deaths in 2015, globally. Moreover, World Health Organization report of 2017 showed around 1.0 million deaths occurred due to HIV related illnesses worldwide. These factors are propelling growth of the patient’s registry software market.
Registry software aid in improving patient care in hospitals and various clinics, as physicians are able to maximize the treatment output with real-time monitoring, which maximizes the healthcare output. Patient registry software aids in maintaining patient records, which helps in better health care delivery.
However, slow rate of adoption and high cost of the software is expected to restrain growth of the market. Moreover, the annual subscription/renewal of the software and single user license are limiting the patient registry software market growth. Furthermore, misuse of patient information (data privacy) is one of the major factors hampering the market growth.
Increasing adoption of patient registries by government organizations is expected to significantly impact growth of the market
For instance, According to North American Association of Central Cancer Registries (NAACCR) 2018, Nine Canadian (8 Provinces and 1 territory) and 55 U.S. registries (49 states, Puerto Rico, and 4 metropolitan and 1 regional registry) were certified by NAACCR. The percentage of the North American population that is covered by high quality certified registries for 2018 is approximately 93%.
The insights in patient’s registry data can be useful for policymakers, for demonstrating that the particular service or item was provided properly to the patients meeting the specific characteristics, and to collect new information, which was not available in the existing clinical trials and research. The creation of disease specific data registries has been recommended for improving patient care. The use of registries to assess performance of health sector or risk-sharing arrangement is increasing in countries such as France, the U.K., Australia, and Germany. This is also expected to further support growth of the market.
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Key players operating in the patient registry software market are Global Vision Technologies, Inc., Quintiles Inc., Dacima Software Inc., PatientCrossroads, Evado eClinical Solutions, Mckesson Corporation, Liaison Technologies, and Imagetrend, Inc.