DUBLIN, December 17, 2021– (BUSINESS WIRE) – 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.
Key market players
Health Companion, Inc.
NoMoreClipboard, LLC (Medical Computer Engineering, Inc.)
Office Ally Inc. (Patient Ally)
Records For Life, Inc.
Practice Fusion, Inc. (AllScripts Healthcare Solutions, Inc.)
JVS Group (SoftClinic Software)
Zapbuild Technologies Private Limited
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 the PHR software are 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 health 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. In addition, 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.
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
Chapter 4. Global Personal Health Record Software Market by Architecture Type
Chapter 5. Global Personal Health Record Software Market by Deployment Mode
Chapter 6. Global Personal Health Record Software Market by Regions
Chapter 7. Company Profiles
For more information on this report, visit https://www.researchandmarkets.com/r/d2x3wi
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211217005424/en/
Laura Wood, Senior Press Director
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