Dublin, Dec 17, 2021 (GLOBE NEWSWIRE) – The report “Global Personal Health Records Software Market by Component, Architecture Type, Deployment Mode, Regional Outlook, Industry Analysis Report and forecast, 2021-2027 “has been added to ResearchAndMarkets.com offer.
The global personal medical record software market size is expected to reach $ 13.2 million by 2027, with the market growth of 9.8% CAGR during the forecast period. Personal health record software (PHR software) refers to a solution developed for patients to manage their health records as well as insurance documents. A complete view of current medical and health records is displayed in the software so that the patient and physicians have access to these records during the treatment management process.
Some of the basic information updated in PHR software is a doctor’s name; prescribed medications with dosage details; patient and physician contact details, medical history, and critical information on allergies and drug reactions. In addition, additional information such as detailed information and analytical representation of any lifestyle related disease such as cardiovascular disease, high blood pressure, diabetes etc. , are displayed in the PHR software.
The increase in the number of government initiatives to promote the integration of paperless data in the health sector and the growing awareness of patients living in urban areas on the management and storage of medical information is expected to drive the growth of the health sector. global personal health records software market. There are several concerns related to the security of individual health data, which is expected to be a challenge for market players. This is expected to have an additional impact on patient engagement initiatives and restrict adoption of PHR solutions among patients.
COVID-19 impact assessment
The outbreak of the global COVID-19 pandemic put more pressure on healthcare organizations from the initial stages of the pandemic. The pandemic has negatively impacted the sales and revenues of key market players due to the slowdown in new commercial bookings as some customer purchasing decisions and projects have been postponed to secure important medical supplies, treat patients and manage their organizations during the crisis. Additionally, companies like Allscripts have experienced delays in processing direct revenue from software and professional service deployments into their outpatient and inpatient base.
The pandemic has collapsed working and living conditions, creating an instant need for digital tools as companies in all sectors and regions have stepped up their digital revolution efforts and moved their products and services to the online platform. However, this pandemic has positively impacted the growth of the market due to the strong acceptance of advanced technologies to meet increasing customer demands.
Market growth factors:
Increase government initiatives around the world
There are more and more government initiatives in various regions to promote the paperless healthcare mechanism, which is expected to accelerate the growth of the personal health record software market. Besides, the burden of carrying multiple papers or prescriptions for availing any healthcare facility has led patients to opt for personal health record software which is expected to further increase the market growth in the coming years.
Growing digitalization in the healthcare sector
Growing digitization across the world, especially in the healthcare industry, is creating a demand for more advanced, compact and convenient technologies and solutions, which is expected to fuel the demand for personal health record software. This software helps to keep a person’s health record which includes a wide variety of information like doctor and patient address, patient allergy, etc. which improves health care management.
Market restriction factor:
Privacy and security concerns
As all of a person’s health related information is updated in the personal health record software, it becomes extremely important to protect that information from the wrong hands. The misuse of this information by criminals for illegal purposes has a high probability. With technological improvements and the increasing adoption of smart technologies and solutions by patients, the risks of security and data breaches are relatively higher than ever before. Criminals are getting more and more advanced over time and have found new ways to carry out their data theft schemes.
On the basis of components, the market is segmented into software and mobile applications and services. The services segment is expected to show the fastest growth rate during the forecast period. Previously, a person’s personal medical record was written on papers or documents kept in a file. Additionally, companies like PicnicHealth provide personal health record services.
Architecture type Perspectives
On the basis of architecture type, the market is segmented into Pay Tethered, Standalone, and Provider Tethered. The supplier-related segment is expected to register a significant growth rate during the forecast period. These personal health records attached to the provider are protected by the internal registration system of a health care administration. The booming government initiatives to promote the use of information technology in healthcare and the launch of many technologically sophisticated healthcare services are expected to drive the growth of the segment.
Outlook deployment mode
On the basis of the mode of deployment, the market is segmented into web and cloud. The web-based mode of deployment segment has delivered the highest revenue share in the personal health record software market in 2020. The increasing adoption of online applications and changing trends in digitization is expected to drive the growth of the segment during the forecast period. The development of new and innovative technologies allows customers to access applications using Uniform Resource Locators (URLs).
On the basis of regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. LAMEA is expected to experience the fastest CAGR during the forecast period. Growing demand for remote patient monitoring solutions, due to aging population and increasing chronic disease cases, is the key aspect that is propelling the growth of the regional market.
The market research report covers the analysis of the major players in the market. Major companies featured in the report include Health Companion, Inc., NoMoreClipboard, LLC (Medical Informatics Engineering, Inc.), Office Ally Inc. (Patient Ally), Records for Living, Inc., Practice Fusion, Inc. (AllScripts Healthcare Solutions, Inc.), JVS Group (SoftClinic Software), Knapsack Health, Zapbuild Technologies Private Limited and Validic, Inc.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
2.2 Key factors influencing the market
2.2.1 Market drivers
2.2.2 Market restrictions
Chapter 3. Global Personal Health Record Software Market by Component
3.1 Global Mobile Software and Applications Market by Region
3.2 Global Services Market by Region
Chapter 4. Global Personal Health Record Software Market by Architecture Type
4.1 Global Connected Payers Market by Region
4.2 Global Autonomous Market by Region
4.3 Global Connected Supplier Market by Region
Chapter 5. Global Personal Health Record Software Market by Deployment Mode
5.1 Global Web Based Market by Regions
5.2 Global Cloud Market by Region
Chapter 6. Global Personal Health Record Software Market by Regions
Chapter 7. Company Profiles
7.1 Health Companion, Inc.
7.1.1 Company overview
7.2 NoMoreClipboard, LLC (Medical Informatics Engineering, Inc.)
7.2.1 Company overview
7.3 Office Ally Inc. (Patient Ally)
7.3.1 Company overview
7.4 Records for Living, Inc.
7.4.1 Company overview
7.5 Practice Fusion, Inc. (AllScripts Healthcare Solutions, Inc.)
7.5.1 Company overview
7.5.2 Financial analysis
7.5.3 Sector and regional analysis
7.5.4 Research and development costs
7.5.5 Strategies and recent developments:
188.8.131.52 Product launches and product extensions:
184.108.40.206 Geographic extensions:
7.6 JVS group (SoftClinic software)
7.6.1 Company overview
7.6.2 Recent strategies and developments:
220.127.116.11 Product launches and product extensions:
7.7 Backpack health
7.7.1 Company overview
7.7.2 Strategies and recent developments:
18.104.22.168 Product launches and product extensions:
7.8 Zapbuild Technologies Private Limited
7.8.1 Company overview
7.9 Validic, Inc.
7.9.1 Company overview
For more information on this report visit https://www.researchandmarkets.com/r/x87p8k
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