Patient Registry Software Market Worth $610.8 Million by 2019 – New Research Report by MarketsandMarkets

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A patient registry is a computerized database that uses observational study methods to collect and store patient information to evaluate specified outcomes for a population defined by a particular disease, condition or drug/medical device exposure. http://www.marketsandmarkets.com/Market-Reports/patient-registry-software-market-144694594.html

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Major Players are McKesson Corporation (U.S.), Phytel, Inc. (U.S.), Quintiles Transnational Holdings, Inc. (U.S.), Optum, Inc. (U.S.), Telligen, Inc. (U.S.), and Velos, Inc. (U.S.)

The patient registry software market size, in terms of value, is expected to reach $610.8 million by 2019 from $381.0 million in 2014 at a CAGR of 9.9%. The subscription models segment is expected to register the highest growth rate in the patient registry software market, by delivery model, during the forecast period. Its favorable growth is attributed to the various advantages offered by this model are data centralization capabilities, automatic software up-gradation and easy customization. Furthermore the subscription model offers cost-effectiveness due to the elimination of purchasing costs of software and hardware.

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Major factors contributing to growth of the patient registry software market include increasing pressure on healthcare organizations to improve the quality of care and minimize healthcare costs, and the increasing adoption of EHRs. Various initiatives are being taken by governments across the globe for enhancing population health management, which is another major factor providing an impetus to the growth of this market. For instance in August 2013 Germany launched an Open-Source Registry System (OSSE) project funded by the Federal Ministry of Health for Rare Diseases in the EU as part of the National Plan for Rare Diseases (RD). The increasing focus on rare disease registries and the high adoption rate of subscription models has opened an array of opportunities for the patient registry software market.

However data privacy & security concerns the lack of resources with cross-functional skills and reluctance towards adopting new advanced systems are expected to restrain the growth of this market.

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Subscription models, integrated patient registry software, and rare diseases registries are expected to serve as new revenue pockets for the patient registry software market in the coming five years.

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Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the patient registry software market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above mentioned market research data, current market size, and forecast of the future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.

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