Personal Health Record Software Market Expected to Reach US ~$16.84 Million and CAGR 9.7% by 2030
The global personal health record software market size is expected to reach USD 16.84 million by 2030 according to a new study by Polaris Market Research.
Several significant factors attributing to the industry growth are the growing demand for the centralizing & streamlining of medical information coupled with the increasing initiatives to promote patient-centric care. In addition, the arrival of COVID-19 fuels the industry demand because of the rising need for digital tools for medical and the augmentation of digitalization across every industry. Besides, the availability of technologically developed products tied with the increasing government initiatives further fosters global industry growth.
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Based on a component, the software & mobile apps segment holds the largest revenue share in the global industry due to the increasing number of technological developments across the medical sector. In contrast, the services segment is the fastest-growing segment worldwide. The growing digitalization in the healthcare industry is propelling its demand.
The growing adoption of AI in the various technologies across the medical sector for estimating the human condition in examining complex medical data is one of the major driving factors for global industry growth. AI technology in healthcare can gain information and provide a precise output to the consumers as compared to traditional technologies.
These technologies are used in the medical sector, resulting in enhanced patient outcomes and increased volume & availability of health-related data from these devices. Thereby, increasing demand for AI along with the rising importance of digitalization in the medical sector are some factors anticipated to fuel industry growth over the forecast period.
Market participants such as CPSI, Duchang IT, 75Health (Kaaspro), Epic Systems, GoodWill, Health Companion, IBM, Kingdee, Healthspek, Knapsack Health, Neusoft, PA SUN, Patient Ally, NoMoreClipboard, PCCW Solution, Practice Fusion, Inc., PKU Healthcare IT CO., Ltd, Records For Living, Inc., Validic, Wining, SoftClinic Software, and Zapbuild and others are some of the key players operating in the global industry.
Numerous industry players are introducing various solutions for gaining significant prominence in the global industry. For instance, in September 2021, Healpha- a Hyderabad-based digital medical start-up, introduced its novel app for personal health management.
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Polaris Market Research has segmented the personal health record software market report on the basis of component, deployment mode, architectural type, and region:
Personal Health Record Software, Component Outlook (Revenue – USD Million, 2018 – 2030)
- Software & Mobile Apps
- Services
Personal Health Record Software, Deployment Mode Outlook (Revenue – USD Million, 2018 – 2030)
- Web-based
- Cloud-based
Personal Health Record Software, Architecture Type Outlook (Revenue – USD Million, 2018 – 2030)
- Payer Tethered
- Provider Tethered
- Standalone
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