Personal Health Record Software Market is segmented by Component (Software and Mobile Applications, and Services), by Deployment (On-Premises and Cloud-Based) for Architecture (Payer Tethered, Provider Tethered, and Standalone) and Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa, Rest of World)
Personal Health Record Software Market size was estimated at $7.07 billion in 2021 and is expected to reach $15.04 billion by 2031, growing at a CAGR of 9.9% during the forecast period of 2022 to 2031.
Personal Health Record Software Market
Personal health record software is a specialized program that is built to automate documentation, storage, and retrieval of medical records of patients over an electronic device. The prime objective of personal health record software is to provide all the basic and important data about the patient to the health practitioners. The information includes the doctor’s name, contact details, illness, medication and doses, medical history, allergies, hereditary problems, etc. In other words, it furnishes every single detail needed for the betterment of the patients. This software computerized all the repetitive steps required to manage a patient’s health record.
Personal Health Record Software Market Growth and Trend
The growing demand for data analytics due to the generation of massive data by the healthcare sector daily is a major driver boosting the growth of the global personal health record software market. This software helps to improve patient care by efficiently analyzing and managing health records. Moreover, the escalating need for accurate and up-to-date information about patients’ medical status to avoid any error in treatment is further expected to drive the market growth globally. Rapid digitalization in the healthcare industry is also contributing to the overall market size. In addition, the growing focus of the government to encourage physicians and doctors to use technology for uplifting the trust of healthcare professionals in technology is also bolstering the growth of the market. The personal health record software is increasingly becoming a must-have in the healthcare industry as it improves workflow and enhances operational productivity. However, huge investments and lack of trained staff in hospitals may restrain the personal health record software market globally in the years ahead.
With the Covid-19 outbreak, the personal health record software market is likely to gain prominence in the coming years. The pandemic has pushed the medical sector to adopt the technology for storing medical records digitally on software which are easily accessible on electronic devices. Overall, such emerging scenarios have had a positive impact on the global personal health record software market.
Personal Health Record Software Market Segmentation
The global personal health record software market is segmented on the basis of components, deployment, and architecture. Based on the component, the market is divided into software and mobile applications, and services. The software and mobile application segment is the largest shareholder in the market and is expected to grow at the fastest CAGR value over the forecast period. By deployment model, the market is segregated into on-premises and cloud-based systems. The cloud-based segment is projected to experience robust growth in the coming years due to the widespread adoption of technology to manage massive data in the healthcare sector. Based on architecture, the global personal health record software market is divided into payer tethered, provider tethered, and standalone. The standalone segment is expected to dominate the market as it offers easy accessibility to data along with privacy control.
Personal Health Record Software Market Country Analysis
North America is likely to dominate the overall market growth during the forecast time frame. The regional growth can be attributed to the government initiative for promoting the use of personal health record software and widespread adoption of the technology by the healthcare sector in the region. However, Asia Pacific is expected to experience the fastest growth during the forecast period due to the massive awareness about the benefits of the personal health record software and ongoing technological advancements.
Personal Health Record Software Market Share and Competition
The leading companies operating in the global personal health record software market are Healthspek, Zapbuild, Validic, Patient Ally, NoMoreClipboard, Health Companion, Practice Fusion, Inc., SoftClinic Software, Record for Living, Inc., KnapSack Health, 75Health, Cerner Corporation, Allscripts, Epic, and Meditech, McKesson Corporation, Next generation Healthcare, Inc., and Greenway Health, LLC.
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• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Component Analysis (Revenue, USD Million, 2022 - 2031)
• Software and Mobile Applications
Deployment Analysis (Revenue, USD Million, 2022 - 2031)
Architecture Analysis (Revenue, USD Million, 2022 - 2031)
• Payer Tethered
• Provider Tethered
Region Analysis (Revenue, USD Million, 2022 – 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Personal Health Record Software Market Companies
• Healthspek, Zapbuild, Validic
• Patient Ally
• Health Companion
• Practice Fusion, Inc.
• SoftClinic Software
• Record for Living, Inc.
• KnapSack Health
• Cerner Corporation
• McKesson Corporation
• Next generation Healthcare, Inc.
• Greenway Health, LLC.
• United States Personal Health Record Software Industry Research Report
• Europe Personal Health Record Software Industry Research Report
• Asia Pacific Personal Health Record Software Industry Research Report
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