Need for Disease Management to Drive Global Patient Registry Software Market to US$2,077.1 mn by 2023: Transparency Market Research

Albany, NY, Jan. 13, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research entitled “Patient Registry Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” the global patient registry software market is expected to reach a value of US$2,077.1 mn by 2023. The market is estimated to expand at a CAGR of 10.30% during the forecast period from 2015 to 2023. The need for population health and disease management, government initiatives for enhancing the efficiency and availability of medical services, need for efficiency and accuracy in patient database management, and the need for decreasing the cost of clinical trials are the key factors driving the growth of patient registry software market, globally.

North America was the largest geographical market for patient registry software in 2014 with a 45.0% share in the total market. Asia Pacific is expected to emerge as the fastest-growing market with an estimated CAGR of 11.60% during the forecast period (2015 – 2023). The growing number of chronic diseases such as diabetes and cardiovascular ailments in North America, coupled with the need for reduction in costs and speeding up of large clinical trials are mainly driving the growth of patient registry software in North America.

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The commercial patient registry segment occupied approximately 83% share of the patient registry software market by type in 2014. The commercial patient registry software enables simultaneous entry and viewing of data by a large number of users as it has a more scalable, flexible structure, and optimized database for vast amounts of data. The public domain registry software segment is growing the fastest, with an expected CAGR of 11.80% during the forecast period due to their easy availability on public websites and their simple structure.

Diabetes registry software was the largest segment of the home security hardware market, accounting for more than one third of the total patient registry software market in 2014. The continuously rising prevalence of diabetes worldwide has aided the continuous growth of diabetes registry software market.

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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 EvadoeClinical Solutions.

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The global patient registry software market is segmented as below:

Patient Registry Software Market

By Type

  • Public Domain Registry Software
  • Commercial Registry Software

By Disease Areas

  • Diabetes Registry
  • Cardiovascular Registry
  • Cancer Registry
  • Rare Disease/Orphan Disease Registry
  • Other Chronic Disease Registry

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Source:Transparency Market Research