Global Personal Health Record Software Market, By Component (Software and Mobile Apps, Services), Deployment Mode (Web-based, Cloud-based), Architectural Type (Payer Tethered, Provider Tethered, Standalone) – Industry Trends and Forecast to 2030.
Personal Health Record Software Market Analysis and Size
A personal health record is a compilation of health-related data. A conventional personal health record already exists for a patient if they have medical records or a record of vaccinations. However, the typical personal health record does have one fundamental flaw. Patients do not have access to it when they need it. Patients' health information is now accessible anytime needed via web-enabled devices, such as PCs, cell phones, and tablets, to electronic personal health records, also known as personal health record software (PHRs) or personal medical record software.
Data Bridge Market Research analyses that the personal health record software market, which was USD 8.40 billion in 2022, would rocket up to USD 18.54 billion by 2030, and is expected to undergo a CAGR of 10.4% during the forecast period. This indicates that the market value. "Software and Mobile Apps" dominates the component segment of the personal health record software market owing to the increased digitalization of healthcare worldwide. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Software and Mobile Apps, Services), Deployment Mode (Web-based, Cloud-based), Architectural Type (Payer Tethered, Provider Tethered, Standalone)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of the Middle East & Africa
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Market Players Covered
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Kaaspro (India), Duchang IT (China), Epic Systems Corporation (U.S.), GoodWill International (U.S.), MEDICAL Information Technology Inc. (U.S.), SAP (Germany), CPSI (U.S.), Meta (U.S.), Elinext (U.S.), EPIC Systems Corporation (U.S.), INFOR (U.S.), Cognizant (U.S.), Oracle (U.S.), Jag products LLC (U.S.), Allscripts Healthcare LLC (U.S.), Optum Inc. (U.S.), Cerner Corporation (U.S.), Change Healthcare (U.S.), Koninklijke Philips N.V. (Netherlands), athenahealth (U.S.), and eClinicalWorks (U.S.)
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Market Opportunities
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Market Definition
A system designed for patients to manage their health information and insurance paperwork is called personal health record software (PHR software). The software displays complete information on the patient's medical and current health records so that the patient and the doctor can access them during treatment management.
Personal Health Record Software Market Dynamics
Drivers
- Digitalization of Healthcare
The global push towards digital health solutions propels the adoption of Personal Health Record (PHR) software. Digitalization streamlines healthcare data management, ensuring easy access, sharing, and tracking personal health information.
- Patient Empowerment
PHR software empowers patients to manage their health data actively, fostering a sense of control and engagement in their healthcare journey. This empowerment encourages the adoption of PHR solutions.
- Rising Chronic Diseases
The growing prevalence of chronic diseases necessitates continuous monitoring and management. PHR software aids individuals in monitoring their health parameters, medication schedules, and lifestyle choices, making it crucial for managing chronic conditions.
Opportunities
- Telehealth Integration
Integration of PHR software with telehealth platforms enhances remote patient monitoring. The increasing adoption of telehealth services opens avenues for PHR software to play a vital role in remote healthcare management.
- AI and Predictive Analytics
Incorporating Artificial Intelligence (AI) and predictive analytics features enables PHR software to provide personalized health insights. Predictive algorithms can alert users and healthcare providers about potential health risks, enhancing preventive care.
Restraints/ Challenges
- Data Security Concerns
Data breaches and privacy concerns related to personal health information create hesitancy among users. Ensuring robust data security measures and compliance with healthcare regulations is a significant challenge for PHR software providers.
- Limited Interoperability
Lack of standardized data formats and interoperability challenges between different PHR systems and healthcare providers hinder seamless data exchange, impacting the user experience.
- User Engagement
Sustaining user engagement is a challenge. Users might lose interest or find it cumbersome to regularly update their health records, reducing the effectiveness of PHR software in the long run.
This personal health record software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the personal health record software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Personal Health Record Software Market Scope
Personal health record software market is segmented on the basis of products, surgery, end-user, and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
Component
- Software and Mobile Apps
- Services
Deployment Mode
- Web-based
- Cloud-based
Architectural Type
- Payer Tethered
- Provider Tethered
- Standalone
Personal Health Record Software Market Regional Analysis/Insights
The personal health record software market is analyzed, and market size insights and trends are provided by country, products, surgery, end-user, and distribution channel, as referenced above.
The countries covered in the personal health record software market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.
North America dominates the personal health record software market due to the growing geriatric population along with the adoption of innovative medical technology.
Asia-Pacific is expected to show a rapid and lucrative growth rate from 2023 to 2030 due to rising health awareness and growing demand for advanced medical technology.
The country section of the personal health record software market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. The personal health record software market is analysed and market size insights and trends are provided by country, product, indication and end user as referenced above.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The personal health record software market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for personal health record software market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on personal health record software market. The data is available for historic period 2011-2021.
Competitive Landscape and Personal Health Record Software Market Share Analysis
The personal health record software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the personal health record software market are:
- Kaaspro (India)
- Duchang IT (China)
- Epic Systems Corporation (U.S.)
- GoodWill International (U.S.)
- MEDICAL Information Technology Inc. (U.S.)
- SAP (Germany)
- CPSI (U.S.)
- Meta (U.S.)
- Elinext (U.S.)
- EPIC Systems Corporation (U.S.)
- INFOR (U.S.)
- Cognizant (U.S.)
- Oracle (U.S.)
- Jag products LLC (U.S.)
- Allscripts Healthcare LLC (U.S.)
- Optum Inc. (U.S.)
- Cerner Corporation (U.S.)
- Change Healthcare (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- athenahealth (U.S.)
- eClinicalWorks (U.S.)
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