Integrated Segment has the Largest Share of Software in the South and Central America Patient Registry Software Market during 2020–2027

According to a new market research study on “South and Central America 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$ 98.0 million by 2027 from US$ 44.9 million in 2020; it is estimated to grow at a CAGR of 11.8% from 2020 to 2027. The report provides trends prevailing in the South and Central America 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.

The COVID-19 is expected to result in the region's worst recession, causing a 9.1% contraction in regional GDP in 2020. This is expected to increase the number of poor up by 45 million and the extremely poor number by 28 million. The COVID? 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America. It suffers from severe inequalities. State-run hospitals and clinics are already overstressed by the treatment of vector?borne diseases and community?acquired infections and high rates of non?communicable diseases (NCDs). Also, the prevention and treatment of NCDs have been critically affected since the onset of the COVID-19 in the region, as per the Pan American Health Organization (PAHO). Before COVID-19, approximately 81% of all deaths in the region were due to NCDs. An estimated 62 million people live with diabetes, and 1.2 million live with cancer in South and Central America. Moreover, in South and Central America, the Gross Domestic Product (GDP) and central government healthcare expenditure are significantly lower than in developed countries. In 2018, as per the United Nations, Economic Commission for Latin America (CEPAL), 16 South American countries invested less than 4% of their GDP to healthcare. The consequences of a lack of investment in public healthcare systems are reflecting during the pandemic. The COVID?19 pandemic is exacerbating these inequalities by threatening the infrastructure and capacity of state?owned healthcare systems. Thus, the factors mentioned above are negatively impacting the growth of the market in the region.

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 South and Central America 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 South and Central America 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 South and Central America 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

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America