Cancer Patient Registry Software Market Continues to Grow at an Increasing CAGR with Significantly Growing Adoption of its Segments.

Cancer Patient Registry Software Market Continues to Grow at an Increasing CAGR with Significantly Growing Adoption of its Segments.

The Cancer Patient Registry Software Market is expected to reach USD 2.88 million by 2027 from USD 1.2 million in 2020, at a CAGR of 10.41 % during the forecast period. A cancer registry is a computerized database that uses software solutions to organize, collect, and store data on cancer patients to evaluate cancer-specific outcomes, conditions, and drug/medical device exposure. Cancer patient registry software is a tool, which helps to store, manage, and provide access to cancer-specific information that helps in building cancer registries.

The growing incidence of cancer is a key factor in driving the market growth. In the US, the American Cancer Society estimated about 1,735,350 new cancer cases and 609,640 cancer deaths in 2018. Additionally, to lower the burden of cancer, various government organizations are taking initiatives and providing support to build cancer registries. With the growing demand for population health management and health information exchange, government bodies across the globe are taking initiatives to digitize and integrate healthcare systems, including the development of computerized disease registries.

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Cancer patient registries contain health information data that may include a broad range of demographic information and personal characteristics such as socioeconomic and marital status, the extent of formal education, developmental disabilities, cognitive capacities, emotional stability, and gender, age, and race. Also, health information generally includes information about the patients family members. As a result, in the situation of a data breach, the personal, private, or confidential information of patients and third parties can fall into the wrong hands.

Accountable Care Organizations (ACOs) are a group of healthcare providers that focus on offering coordinated care and effective chronic disease management. Payments for these organizations are tied to the achievement of their healthcare quality goals and outcomes that result in cost savings for the medical care delivery system. To enhance patient care, ACOs need to know their population, providers, and patients, and the state of care delivered. Cancer patient registries, with their ability to focus on specific populations and adapt to changing requirements, are powerful tools to support ACOs and other organizations participating in accountable care arrangements.

Integrating registries into hospital workflows at the point-of-care is a major challenge for software vendors. Many hospitals and physician practices that participate in observational studies use more than one data capture system and change their workflow to accommodate non-harmonized research demands.

The key market players in the cancer patient registry software market are Elekta (Sweden), &(US), &(US), Rocky Mountain Cancer Data Systems (RMCDS) (US), McKesson Corporation &US)

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The cancer patient registry software market is segmented into North America and Europe. North America accounted for the larger market share in 2018 and will continue to dominate the cancer registry market during the forecast period. Factors such as the high burden of cancer, government funding initiatives to encourage the development of cancer registries, high investments in healthcare IT, the presence of significant cancer registry software development market players, and the high adoption rate of these solutions in the region are contributing to the larger share of North America in the cancer registry software market.

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