Software Segment has the Largest Share of Type in the North America Master Patient Index Software Market during 2021–2028

According to a new market research study on “North America Master Patient Index Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, and Deployment,” is expected to reach US$ 738.5 million by 2028 from US$ 365.3 million in 2021. The market is estimated to grow at a CAGR of 10.6% from 2021 to 2028. The report provides trends prevailing in the North America master patient index 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 assistance in maintaining and managing clinical, financial, and demographic data of patients due to its advantages and adoption of cloud-based technologies are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of software.

The effectiveness of Master Patient index software to gather and analyze patient data is expected to have a constructive impact on the adoption of Master Patient index software in the region. Moreover, the majority of the market players, research centers, and academic institutions are focusing on adopting patient registries to streamline patient data collection and analysis. In February 2021, the Leukemia & Lymphoma Society (LLS) announced a strategic partnership with Ciitizen, a significant player in digital health solutions, to study the relation between COVID19 and vaccination amongst blood cancer patients. Moreover, an increasing need for remote patient care. The exchange of the medical record of the patients is being done through the master patient index software. It helps minimize the patient movement to the different healthcare settings, thus help in reducing the risk of COVID19 infection. Therefore, the COVID19 pandemic is expected to positively impact the master patient index software market.

The market for master patient index software market is segmented into type, and deployment. Based on type, the master patient index software market is segmented into software, and service. In 2020, based on type, the software segment held the largest share of the market, also the same segment is estimated to grow at the highest CAGR due to increasing development in the healthcare IT by the market players, and adoption patient data management software to enhance patient care during the forecast period. 

McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc., NextGate, JUST ASSOCIATES, INC., Verato, QuadraMed Affinity Corporation, MEDITECH, and Intersystems Corporation are among the leading companies in the North America master patient index 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 August 2020, Allscripts and Sheba Medical Center have developed a collaboration to increase the pace of artificial intelligence technology and enhance patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, with a goal of transforming healthcare by 2030.

The report segments the North America Master Patient Index Software market as follows:

By Type

• Software
• Service

By Deployment

• Cloud-based
• On Premises

By Country

• North America
  • US
  • Canada
  • Mexico