Report : Europe Patient Registry Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Software (Standalone, and Integrated); Database (Public, and Commercial); Type of Registry (Product Registries, Disease Registries, and Health Service Registries); Mode of Delivery (On Premise, and Cloud Based); and Pricing Model (Subscription, and Ownership)
Integrated Segment has the Largest Share of Software in the Europe Patient Registry Software Market during 2020–2027
According to a new market research study on “Europe 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$ 820.4 million by 2027 from US$ 355.4 million in 2020; it is estimated to grow at a CAGR of 12.7% from 2020 to 2027. The report provides trends prevailing in the Europe 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.
Due to the second wave of COVID-19 cases, the government of many countries is working towards scaling up testing capacity. Many pharmaceutical companies in the region are actively engaged in the development of COVID-19 vaccine. Some have donated potential compound to be used for emergency use and clinical trials, including compounds formerly tested on other viral pathogens such as Ebola. Many companies are utilizing existing technologies that provide the ability to rapidly upscale production once a potential vaccine candidate is identified. Pharmaceutical companies are prioritizing research and development of COVID-19 related diagnostics, treatments, health technologies and vaccines. Moreover, companies and research centers are focusing on utilization of smart technologies to gather patient data, which will enable them to generate insights and take data-driven decisions. In March 2020, the German Society of Infectious Diseases (DGI) announced the launch of a European patient registry in order to gather and analyze clinical data of covid-19 infected patients. Moreover, the software offers significant level of anonymity, enabling patients to practice their right to privacy. Preference for adoption of such technologies offers a favorable environment for growth of Europe patient registry software market during the forecast period.
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 Europe 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, Open Text Corporation, LUMEDX, IBM Corporation, Mckesson Corporation, and Dacima Software Inc are among the leading companies in the Europe 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 Europe Patient Registry Software market as follows:
By Type of Registry
- Product Registry
- Disease Registry
- Cardiovascular Disease Registry
- Health Service Registry
By Mode of Delivery
By Pricing Model
- Rest of Europe
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