The “North America Master Patient Index Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Type (Software, and Service); Deployment (Cloud-based, and On premises)” report has been added to ResearchAndMarkets.com’s offering.
Software Segment has the Largest Share of Type in the North America Master Patient Index Software Market during 2021-2028.
North America Master Patient Index Software Market is expected to reach US$ 738.5 million by 2028 from US$ 365.3 million in 2021 and is estimated to grow at a CAGR of 10.6% from 2021 to 2028.
The growth of this market is estimated to grow owing to key driving factors such as assistance in maintaining and managing clinical, financial, and demographic data of patients due to its advantages and adoption of cloud-based technologies are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of software.
The effectiveness of Master Patient index software to gather and analyze patient data is expected to have a constructive impact on the adoption of Master Patient index software in the region. Moreover, the majority of the market players, research centers, and academic institutions are focusing on adopting patient registries to streamline patient data collection and analysis.
In February 2021, the Leukemia & Lymphoma Society (LLS) announced a strategic partnership with Ciitizen, a significant player in digital health solutions, to study the relation between COVID19 and vaccination amongst blood cancer patients. Moreover, an increasing need for remote patient care.
The exchange of the medical record of the patients is being done through the master patient index software. It helps minimize the patient movement to the different healthcare settings, thus help in reducing the risk of COVID19 infection. Therefore, the COVID19 pandemic is expected to positively impact the master patient index software market.
In 2020, based on type, the software segment held the largest share of the market, also the same segment is estimated to grow at the highest CAGR due to increasing development in the healthcare IT by the market players, and adoption patient data management software to enhance patient care during the forecast period.
Leading companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
Key Market Dynamics
Market Drivers
- Assistance in Maintaining and Managing Clinical, Financial, and Demographic Data of Patients
- Adoption of Cloud-Based Technologies
Market Restraints
- High Cost of Software
Future Trends
- Digitalization of Healthcare Processes
Company Profiles
- McKesson Corporation
- Oracle Corporation
- Wipro Limited
- Allscripts Healthcare Solutions, Inc.
- NextGate
- Just Associates, Inc.
- Verato
- QuadraMed Affinity Corporation
- Meditech
- Intersystems Corporation
Scope of the Report
By Type
- Software
- Service
By Deployment
- Cloud-based
- On Premises
By Country
- North America
- US
- Canada
- Mexico
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