Government Efforts to Improve Healthcare Management Systems Drives Global Patient Registry Software Market
Efficiency is integral to effective healthcare. It is crucial to track the development of medical solutions offered to patients to understand the progress. In the vast and sprawling modern healthcare system, maintaining a record is not only important but also hugely challenging. Keeping in mind this tough challenge, several software companies such as Global Vision Technologies, Inc., Dacima Software Inc., Quintiles Inc., PatientCrossroads, and Evado eClinical Solutions are offering patient registry software solutions to examine the outcomes of various treatments and trials.
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New Projects Lead the Way for Global Patient Registry Software Market
Recently, PatientCrossroads launched a registry, called NEXUS Narcolepsy Registry, for sharing information regarding narcolepsy and its treatment. The platform is also expected to spell out the impact of this rare neurological disorder on the patient’s life. The platform is a collaborative effort by narcolepsy researchers and medical and pharmaceutical industry players to keep an account of the huge number of people with narcolepsy in the coming years. Such registries are expected to help the company publish the findings at medical meetings, with an aim to stimulate new research towards treating the disease.
Growing Prevalence of Chronic Conditions Drives Global Patient Registry Software Market
In recent times, the need for such patient registries has been a grave one in the medical and healthcare industry. The exponential rise in the global population has led to the prevalence of chronic diseases such as cardiovascular diseases and diabetes. This exploding rate of diseases has given rise to the need for remote monitoring process, thereby creating a need for disease management systems. Furthermore, the growing awareness about chronic diseases and the rising demand for accurate and effective treatments have also given the global patient registry software market a great impetus. This market is also being propelled by the several initiatives taken by several governments for enhancing health management systems. The changing investment structure in the healthcare industry, need for disease management, and the arduous government efforts are all expected to help the global patient registry software market reach a value of more than US$2 bn by the end of 2023. This market is expected to register a CAGR of 10.30% from 2015 to 2023.
The types of software sold in the global patient registry software market are public domain registry software and commercial registry software. This software is used for diabetes registry, cancer registry, cardiovascular registry, rare disease/orphan disease registry, and other chronic disease registry. The solutions are mainly used by the commercial sector and the government. Geographically, the global patient registry software market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
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North America Emerges as Leader in Global Patient Registry Software Market
Currently, North America dominates the global patient registry software market due to the growing number of diabetics and patients with cardiovascular diseases. The market is also flourishing in this region due to the reduction in costs and the accelerating number of clinical trials. Pilot registry programs are also leading the way for this market in North America. In the coming years, simplified patient registry software solutions are expected to win over many hospitals, thus helping the market progress further.