DUBLIN, December 17, 2021--(BUSINESS WIRE)--The "Global Personal Health Record Software Market By Component, By Architecture Type, By Deployment Mode, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Personal Health Record Software Market size is expected to reach $13.2 Million by 2027, rising at a market growth of 9.8% CAGR during the forecast period.
Key Market Players
Health Companion, Inc.
NoMoreClipboard, LLC (Medical Informatics Engineering, Inc.)
Office Ally Inc. (Patient Ally)
Records for Living, Inc.
Practice Fusion, Inc. (AllScripts Healthcare Solutions, Inc.)
JVS Group (SoftClinic Software)
Zapbuild Technologies Private Limited
Personal Health Record Software (PHR software) refers to a solution developed for patients to manage their health records along with insurance documents. A complete view of the medical and the current health records is shown in the software for the patient & doctors to get access to these records at the time of the treatment management process.
Some of the basic information that is updated in the PHR software is a doctor's name, prescribed medications with dosage details; patient & doctor address details, medical history, and crucial information on allergies and drug reaction data. In addition, some more information like the detailed information and analytical representation of any lifestyle disease such as CVD, high blood pressure, diabetes, etc., genetic & hereditary disease information, past & upcoming surgery details, and detailed history of immunization and ill effects, are displayed in the PHR software.
The surge in the number of government initiatives to promote paperless data integration in the healthcare industry and increasing awareness among patients living in urban areas about medical information management and storage are anticipated to bolster the growth of the global personal health record software market. There are several concerns attached to individual health data security, which is expected to possess a challenge for the market players. It is expected to further impact patient engagement initiatives and restricting the adoption of PHR solutions among the patients.
COVID-19 Impact Analysis
The outbreak of the global COVID-19 pandemic has put more pressure on healthcare organizations from the initial phases of the pandemic. The pandemic has negatively impacted the sales and revenues of key market players owing to the slowdown in new business bookings since some client purchasing decisions and projects were postponed to obtain important medical supplies, treating patients, and managing their organizations in the crisis. Additionally, enterprises like Allscripts, experienced some delays in dealing with direct software revenue & professional services deployments across their outpatient & inpatient base.
The pandemic has collapsed the condition of work and life, creating an instant requirement for digital tools since companies across all the industries and regions surged their digital revolution efforts and shifted their products & services to the online platform. However, this pandemic has positively impacted the growth of the market due to the high acceptance of advanced technologies to fulfill the growing customer requirements.
Market Growth Factors:
Increasing government initiatives across the globe
There are growing government initiatives across various regions to promote the paperless healthcare mechanism, which is estimated to accelerate the growth of the personal health record software market. In addition, the burden of carrying multiple papers or prescriptions for availing any healthcare facilities has led patients to opt for personal health record software, which is expected to further augment the growth of the market in the coming years.
Growing digitalization in the healthcare industry
The increasing digitalization across the globe, especially in the healthcare sector is creating demand for more advanced, compact, and convenient technologies and solutions, which is estimated to fuel the demand for personal health record software. This software helps in keeping the health record of a person that includes a wide variety of information like doctor and patient's address, an allergy to the patient, etc., which improves the healthcare management.
Market Restraining Factor:
Privacy and security concerns
As all the health-related information of a person is updated in the personal health record software, it becomes extremely important to protect this information from getting into the wrong hands. Misuse of this information by criminals for illegal purpose has a high probability. With the improvements in technology and the growing adoption of smart technologies and solutions by patients, the chances of security and data breaches are relatively higher than earlier. Criminals are getting more advanced with time and have found new ways to carry out their plans for data theft.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Personal Health Record Software Market by Component
Chapter 4. Global Personal Health Record Software Market by Architecture Type
Chapter 5. Global Personal Health Record Software Market by Deployment Mode
Chapter 6. Global Personal Health Record Software Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/d2x3wi
View source version on businesswire.com: https://www.businesswire.com/news/home/20211217005424/en/
Laura Wood, Senior Press Manager
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