Latest WCG IRB News
Jun 20, 2023
Companies Profiled IBM Corporation, IQVIA Holdings, OpenText Corporation, Optum, Premier, Inc., ArborMetrix, FIGmd, McKesson Corporation, Syneos Health, Dacima Software, IFA Systems AG, Medstreaming- M2S, ImageTrend, Evado Clinical and WIRB Copernicus Group, Global Vision Technologies, Conduent, Inc., Elekta AB, Cedaron, Lumdex, Armus, Phamax AG, and Versaform Systems Corp, ESO Solutions and Ordinal Data Inc. among others. Available Customization In addition to the market data for the Patient Registry Software Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements. Inquire Before Buying: https://www.delvens.com/Inquire-before-buying/patient-registry-software-market-trends-forecast-till-2028 Patient Registry Software Market Overview The market's growth is anticipated to be significantly impacted by COVID-19. The COVID-19 patient registry was used to record patient symptoms, the effects of vaccination studies, post-marketing approval of vaccines, and additional research and development activities for novel vaccines. Additionally, IQVIA debuted its COVID Active Research Experience (CARE) Project at helpstopcovid19.com in August 2020. The IQVIA CARE Project is an opt-in registry open to everyone to improve understanding of COVID-19 through the exchange of data on the prevalence, progression, and effectiveness of treatments. Patient registries-supported data science breakthroughs may fill in the gaps necessary to support COVID-19 activities. As a result, COVID-19 is anticipated to have an impact on market expansion throughout the forecast period. Market players throughout the world are searching for creative and economical ways to deliver technology-enabled, patient-centered healthcare solutions both within and outside hospital walls due to better outcomes and quality of care in the 21st century. Government sources have begun to pay attention to electronic health records because of their many applications, both clinical and non-clinical. The governments of rich and developing nations alike are launching several federal policies, initiatives, and programs to advance healthcare services. For patients with congenital myasthenic syndrome (CMS), the Canadian Neuromuscular Disease Register introduced a new register in February 2022. This registry intends to expand the Canadian CMS cohort for upcoming research and provide access to diagnosis and treatment. Thus, government programs encouraging the use of patient registries will spur market expansion. Patient Registry Software Market Segmentation Analysis The Integrated Software segment is expected to hold a major market share in the patient registry software market Applications that are integrated offer numerous modules that offer a wide variety of functionality often seen in stand-alone applications. a piece of business software that allows data exchange between all or the majority of its components. These products often combine word processing, database management, spreadsheets, graphics, and communications. In hospital settings, where several registers must be kept in various departments and cross-sharing of this data across departments is essential, integrated software is being used more frequently. Based on product, the market for patient registry software is segmented into disease, health service, and product registry. The disease registry is further sub-segmented into cardiovascular, diabetes, cancer, rare disease, asthma, and others. In 2019, the patient registry software market was dominated by the disease registry sector. The segment is being driven by the rising demand for healthcare system integration and illness burden reduction. These registries are useful for monitoring patients participating in clinical trials for the development of novel medications. Based on end-use, the market for patient registry software is segmented into government and third parties, hospitals and medical practices, private payers, pharma and medical device companies, and research organizations. The sector with the highest revenue share in 2019 was the government and third-party sector. Throughout the forecast period, it is projected that the government will install this software in both developed and developing nations to reduce the burden of disease. Regional Insights Regional Insights In terms of revenue share, North America controls the world market for patient registry software in 2019. The market in this region is expanding as a result of an expanding target population, an increase in the occurrence of illnesses, and a growing demand for population-based registries. Businesses always strive to provide more user-interactive software to make patient registry software more interactive for users and supportive of clinical research. For instance, IQVIA introduced a new web-based tool for the enrolment of clinical trial data in August 2019. During the anticipated period, Asia Pacific is anticipated to see profitable growth. Over the past few years, electronic medical records have become more widely used. Major drivers driving the market in the region include increasing demand to reduce medical errors, frequent hospital visits, increased diagnostic errors coupled with rising prevalence of co-morbidities, and an aging population. Additionally, encouraging government measures, particularly in Japan, China, and South Korea, are promoting the expansion of the patient registry software market. Patient Registry Software Market Outlook Driver: Government initiatives to build patient registries Government organizations all around the world are taking steps to digitize and integrate healthcare systems, including the creation of computerized illness registries, in response to the rising demand for population health management and health information exchange. The development of patient registries is a priority for several state agencies as well as federal organizations in the US, including the National Institutes of Health (NIH), Centres for Disease Control and Prevention (CDC), Centres for Medicare & Medicaid Services (CMS), Agency for Healthcare Research and Quality (AHRQ), Food and Drug Administration (FDA), and Agency for Toxic Substance and Disease Registry (ATSDR). Opportunity: High adoption rate of the subscription model The subscription model has a modest initial investment requirement and places less stress on healthcare facilities because no IT staff is required. Productivity and cost-efficiency consequently rise. This strategy also enables suppliers to develop fresh and creative licensing agreements to engage prospects and consumers in new ways. Healthcare providers are increasingly using subscription-based software since it offers a quicker time to value any new features that are offered, and they can even use it temporarily depending on their needs. Since it offers a better chance to build trust and understand the demands of healthcare providers, several market players are currently in favor of the subscription model (which would then help to boost customer satisfaction). These benefits are predicted to offer market participants potential growth chances during the anticipated timeframe. Restraint: Privacy and data security-related concerns Concerns regarding data privacy and security are preventing healthcare organizations from implementing patient registry solutions because a data breach might reveal the private information of many patients. In recent years, there have been a lot more breaches of healthcare data. About one-third of data breaches in the healthcare sector result in medical identity theft, and this is mostly due to lax internal controls over patient information, outdated policies and procedures or a failure to follow them, and inadequate staff training. In its list of 2019 breaches, the Identity Theft Resource Centre in the US recorded 1,473 breaches, an increase of 17% from all breaches reported in 2018. Only the healthcare sector was responsible for 35.5% of the breaches that were tracked. Such risk factors may inadvertently harm the market. Challenge: Lack of awareness Many people involved in the healthcare industry, especially in developing and underdeveloped countries, are currently ignorant about patient registers and the tools that can be utilized to build comprehensive patient registries. In wealthy countries with advanced healthcare infrastructure and high EHR solution adoption, the effects of this challenge are minimal. As HCIT adoption is still in its infancy in many developing and underdeveloped countries, many healthcare providers, payers, and government and non-government organizations are unaware of the market's HCIT solutions, such as patient registration software. This problem can be solved with the use of programs like seminars, symposiums, workshops, and training sessions that highlight increasing awareness of the potential of patient registry software and developing a qualified workforce with the essential skills to properly use these solutions. Key Companies & Market Share Insights Some of the key players operating in the global Patient Registry Software market are IBM Corporation, IQVIA Holdings, OpenText Corporation, Optum, Premier, Inc., ArborMetrix, FIGmd, McKesson Corporation, Syneos Health, Dacima Software, IFA Systems AG, Medstreaming- M2S, ImageTrend, Evado Clinical and WIRB Copernicus Group, Global Vision Technologies, Conduent, Inc., Elekta AB, Cedaron, Lumdex, Armus, Phamax AG, and Versaform Systems Corp, ESO Solutions and Ordinal Data Inc among others. Recent Developments A partnership between ESO Solutions (US) and Virginia EMS Systems (US) was formed in March 2021 to offer a state-wide trauma registry and EMS data repository for the collecting and analysis of data to identify important trends and insights. The most recent National Trauma Data Bank (NTDB) Data Dictionary will be accessible in the Patient Registry on January 1, 2021, according to an announcement made by ImageTrend, Inc. (US) in December 2020. To improve the health, development, and well-being of all children, ArborMetrix, Inc. (US) and the American Academy of Paediatrics partnered in November 2020 to create and expand a clinical registry. Purchase This Report: https://www.delvens.com/checkout/patient-registry-software-market-trends-forecast-till-2028 Types of Registry Outlook Hospitals & Medical Practices Research Centers Browse More Healthcare Industry Reports: https://www.delvens.com/industry/healthcare Explore Related Reports: Nerve Repair & Regeneration Market : The global Nerve Repair & Regeneration Market size is projected to reach a CAGR of 6.5% from 2023-2030. Multiplex Assays Market: The global Multiplex Assays Market size is projected to reach a CAGR of 10.3% from 2023-2030. Medical Image Analysis Software Market: The global Medical Image Analysis Software Market size is projected to reach a CAGR of 7.8% from 2023-2030. Medical Device Reprocessing Market: The global Medical Device Reprocessing Market size is projected to reach a CAGR of 13.7%from 2023-2030. Interactive Patient Care Market: The global Interactive Patient Care market size is projected to reach a CAGR of 15.5% from 2023-2030. Infusion Therapy Market: The global Infusion Therapy Market size is projected to reach a CAGR of 7% from 2023-2030. About Delvens Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports, and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide information on the country, regional, and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally. 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