Integrated Segment has the Largest Share of Software in the Asia Pacific Patient Registry Software Market during 2020–2027

According to a new market research study on “Asia Pacific Patient Registry Software Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Software, Database, Type of Registry, Mode of Delivery, and Pricing Model,” is expected to reach US$ 452.3 million by 2027 from US$ 200.7 million in 2020; it is estimated to grow at a CAGR of 12.3% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific patient registry software market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the development of digital health infrastructure and increasing use of patient registries are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the concerns associated with the patient data breach.

Increasing burden on existing healthcare systems along with rising demand for advanced data collection and analysis technologies is expected to drive the Asia Pacific patient registry software market, even during the time of pandemic. In January 2021, BC Platforms, a significant player in clinical and genomic data management announced collaboration with Japan-based RIKEN research institution and the Finnish Institute for Health and Welfare (‘THL’). The company entered into this partnership for research and development of a precision prediction model in order to increase the patient detection for covid-19. Moreover, in September 2020, the government of India launched National Covid-19 Registry and a vaccine portal to keep track of covid-19 related activities. The registry focuses on collection of real-time clinical data with an aim to boost research and development. Further, pharmaceutical companies are also increasingly utilizing patient data to shorten the clinical-development cycle and decrease its costs. With greater number of regulatory agencies laying stress on value and patient outcome, patient engagement is expected to increase adoption of patient registry software in coming years.

The market for patient registry software market is segmented into software, database, type of registry, mode of delivery, and pricing model. In 2019, the integrated software segment accounted for the largest share of the Asia Pacific patient registry software market. The growth of this market is also attributed to the abilities for integrated software to facilitate informed decision-making, confer appropriate scale-up, capability to handle modern day software solutions, manage application program interface and others. Moreover, integrated software solutions eliminate the need for purchasing separate hardware components as they can be integrated with the existing computer systems, making them more cost-effective and user-friendly.

IQVIA Inc., Medstreaming, FIGmd Inc., Evado Clinical, Open Text Corporation, LUMEDX, IBM Corporation, Mckesson Corporation, and Dacima Software Inc are among the leading companies in the Asia Pacific patient registry software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2018, IQVIA and MDA, with the help of its advance technology and infrastructure, are aimed to improve the abilities and capabilities of the researchers and health care service providers. Thus, this collaboration will boost the research opportunities focused on the development of novel drugs. Besides, this union of two organizations is expected to benefit the expansion of the pilot registry, which was established by MDA in 2013.

The report segments the Asia Pacific Patient Registry Software market as follows:

By Software

• Standalone
• Integrated

By Database

• Public
• Commercial

By Type of Registry

• Product Registry
• Disease Registry
  • Cardiovascular Disease Registry
  • Others
• Health Service Registry

By Mode of Delivery

• On-Premises
• Cloud-Based

By Pricing Model

• Ownership
• Subscription

By Country

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific