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Patient Registry Software Market Analysis

The Global Patient Registry Software Market size is estimated at USD 1.72 billion in 2024, and is expected to reach USD 3.12 billion by 2029, growing at a CAGR of 12.53% during the forecast period (2024-2029).

COVID-19 is expected to have a significant impact on the growth of the market. The patient registry during COVID-19 was used to register the symptoms of COVID-19 in the patients, the impact of vaccination trials, post-marketing authorization of vaccines, and further research and development activities in innovating vaccines. Furthermore, in August 2020, IQVIA launched its COVID Active Research Experience (CARE) Project at helpstopcovid19.com. The IQVIA CARE Project is an opt-in registry available to anyone to advance understanding of COVID-19 through shared information about disease prevalence, symptom progression, and treatment outcomes. Data science innovations supported by patient registries can provide critical missing pieces to support COVID-19 efforts. Thus, COVID-19 is expected to impact the growth of the market during the forecast period.

Certain factors that are driving the market growth include the implementation of government initiatives to build patient registries, the rising adoption of electronic health records (EHR), and the increasing use of patient registry data for post-marketing surveillance.

Owing to the improved outcomes and quality of care in the 21^st century, market players around the world are looking for innovative and cost-effective ways to deliver technology-enabled, patient-centered healthcare solutions, both inside and outside hospital walls. Due to widespread applications, including clinical and non-clinical, electronic health records have been able to attract attention from government sources. Many federal policies, actions, and programs are being initiated by the government of developed and developing countries across the world to experience progress in healthcare services.

The launch of new patient registries across the world and the adoption of key strategies, like mergers and acquisitions, are expected to drive market growth during the study period. For instance, in April 2022, Cerner launched a registry that will collect data from patients diagnosed with Type 2 and Type 3 Gaucher disease, an autosomal recessive disease. It will collect retrospective and prospective clinical and health outcome data for patients diagnosed with Gaucher disease. It is focused on accelerating the discovery, development, and delivery of insights and therapies to improve health.

In February 2022, Canadian Neuromuscular Disease Registry launched a new registry for patients with congenital myasthenic syndrome (CMS). This registry aims to improve access to diagnosis and treatment and develop a Canadian CMS cohort for future research. Thus, such government initiatives boosting the adoption of patient registries will boost market growth.

Thus, due to the above-mentioned factors, the studied market is expected to augment during the study period. However, concerns relating to privacy and data security are inhibiting the growth of the global patient registry software market. Moreover, the lack of trained and skilled professionals is limiting the market.

Patient Registry Software Industry Segmentation

As per the scope of the report, patient registry software deals with an organized system, which uses observational study methods to collect uniform data (clinical and other) for the evaluation of specified outcomes for a population, defined by a specific disease, condition, or exposure, and which further serves one or more predetermined scientific, clinical, or policy purposes. The Patient Registry Software Market is Segmented By Type of Registry (Disease Registries, Health Service Registries, and Product Registries), Type of Software (Stand-alone Software and Integrated Software), End User (Hospitals, Government Organizations, and Third Party Administrators (TPAs), and Pharmaceutical, Biotechnology, and Medical Device Companies, and Other End Users), and Geography (North America, Europe, Asia - Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.