Personal Health Record Software Market | Global Industry Report, 2027
The global Personal Health Record Software market gathered revenue around USD 8.1 Million in 2020 and market is set to grow USD 15.7 Million by the end of 2027 and is estimated to expand at a modest CAGR of 10.0% during the prediction period 2021 to 2027.
Growth Factors:
The market Factors such as growing demand for centralizing & streamlining healthcare information, increasing demand for cloud-based software for dealing with individual data, and rising initiatives to promote patient-centric care will drive the market during the forecast period.
High acceptance of advanced technologies, growing demand for centralizing, and streamlining of healthcare information, rising awareness among patients for medical information storage and management, and increasing government initiatives will support the market growth during the forecast period.
For instance, in October 2019, The Union Ministry of Health and Family Welfare, Government of India developed an app, ‘My Health Record’, which permits users to store their past prescriptions, detailed health profile, lab records & diagnoses at one platform and share it with medical specialists when required. The COVID-19 has toppled the way of work and life, enforcing healthcare groups to share individual’s medical records in a format that is meaningful and easily available.
The Department of Health and Human Services Office of the National Coordinator for Health Information Technology, together with the Centers for Medicare & Medicaid Services, issued two new rules to come into force in April 2021. One rule requires healthcare groups to make health record data available electronically through broadly-used technical standards. While the other forbids “information blocking,” where healthcare groups place excessive practical, cost, and technical barriers to the sharing of health information.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Personal Health Record Software market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Personal Health Record Software market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 15.7 Million by 2027 |
| Growth Rate | CAGR of 10.0% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Component, deployment mode, architecture type And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Healthspek; Health Companion; NoMoreClipboard; Patient Ally; Records For Living, Inc.; Practice; Fusion, Inc.; SoftClinic Software; Knapsack Health, 75Health (Kaaspro); Zapbuild; Validic |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Personal Health Record Software market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America dominated the market and accounted for a revenue share of over 56% in 2020. The major factor contributing to its growth are government initiatives for eHealth, and the increased need to follow regulatory guidelines & curtail the escalating healthcare costs. In addition, the strong focus of non-government organizations on the development of a highly sustainable healthcare system in the region will accelerate the market growth during the forecast period.
The rest of the world is expected to show the fastest growth rate over the forecast period. The rising demand for remote patient monitoring solutions, due to the aging populace and growing cases of long-term chronic conditions, is the main factor driving the growth of the market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Personal Health Record Software Market include: Healthspek; Health Companion; NoMoreClipboard; Patient Ally; Records For Living, Inc.; Practice; Fusion, Inc.; SoftClinic Software; Knapsack Health, 75Health (Kaaspro); Zapbuild; Validic
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Personal Health Record Software market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Personal Health Record Software market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Personal Health Record Software markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Personal Health Record Software market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers