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.
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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.
The government end-user segment is the largest in the patient registry software market, accounting for nearly two thirds of the total patient registry software market in the year 2014. The commercial end-user segment is the fastest-growing segment, projected to grow at a CAGR of 10.70% from 2015 to 2023. Rising government concerns over medical services and need for information services among various government agencies and legal authorities has led to the adoption of patient registry software among government end-users.
Leading patient registry software providers in 2014 include Global Vision Technologies, Inc., Quintiles Inc., Dacima Software Inc., PatientCrossroads, and Evado eClinical Solutions.