Transparency Market Research (TMR) has recently published a report on the global patient registry software market, according to which, the market is projected to rise at a healthy CAGR of 10.30% during the period from 2015 and 2023.The research report, titled “Patient Registry Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” estimates the market to increase from an overall value of US$868.0 mn in 2014 to US$2.1 bn by the end of the forecast period.
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Patient registries can be defined as organized systems of data collection for clinical, scientific, or policy purposes. These registries are utilized to evaluate various medical conditions, such as the history of a chronic disease in a patient, safety level of a drug or a medical device, as well as the real-world efficacy of a therapy. They also play an important role in the improvement of the regularity, quality, and the efficiency of patient care at the point-of-care unit.
Nowadays, the awareness among people regarding healthcare has increased, which has resulted in the augmented demand for patient registry software across the world. The need for accuracy and efficiency in the patient database management to prevent the loss of data as well as to eliminate the chances of any error in the treatment or therapy is also projected to fuel the demand for patient registry software over the forecast period, states the research report.
The report evaluates the global patient registry software market on four fronts: The type of software, the disease area, the end user, and the geographical distribution of this market. Based on the type, the market has been classified into commercial registry software and public domain registry software.
According to the study, the commercial registry software segment emerged as the leader among the two in 2014, accounting for a share of approximately 83% in the overall market. However, the public domain registry software segment is likely to post the fastest growth at a CAGR of 11.80% during the forecast period. The easy availability of these software on public websites, together with their simple structure, is likely to fuel their demand in the coming years.
Based on the disease area, the worldwide market for patient registry software has been divided into cardiovascular registry, diabetes registry, rare disease/orphan disease registry, cancer registry, and other chronic disease registries. Among these, the diabetes registry segment dominated the overall market in 2014 with a share of more than 33%, owing to the increased incidence of diabetes across the world, notes the research study.
By end user, the market has been categorized into two segments, the commercial industry and the government sector in this report. The government sector accounted for a majority share in the overall market in 2014. However, the commercial industry is expected to record the fastest growth at a CAGR of 10.70% during the forecast period.
On the regional basis, the report has segmented this market into Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. In 2014, North America acquired the leadership of the worldwide patient registry software market,
accounting for a share of 45% in the global market. The increasing prevalence of diabetes and other chronic diseases are propelling the North America patient registry software market significantly. However, analysts at TMR expect Asia Pacific to register the fastest growth at a CAGR of 11.60% over the forecast period.
The rising number of disease registry pilot programs in this region is the key factor that is likely to influence Asia Pacific patient registry software market positively in the near future, states the report.
PatientCrossroads, Quintiles Inc., Global Vision Technologies Inc., Dacima Software Inc., and Evado eClinical Solutions are the major international vendors of patient registry software, mentioned in this study.