Software Segment has the Largest Share of Type in the Asia Pacific Master Patient Index Software Market during 2021-2028.
According to a new market research study on “Asia Pacific Master Patient Index Software Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type, and Deployment,” is expected to reach US$ 371.2 million by 2028 from US$ 180.3 million in 2021. The market is estimated to grow at a CAGR of 10.9% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific master patient index software market along with the drivers and restraints pertaining to the market growth. 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 COVID-19 pandemic has put a major strain on the health systems of many countries around the world. Testing capacity in many Asia Pacific countries was limited and of low quality in the initial days of the pandemic, which led to a surge in the COVID-19 cases. However, many countries, such as South Korea, Japan, and Singapore, were efficiently contained the situation through robust tracking and testing. Also, India has the second-highest number of cases in the world after the US. The increasing burden on existing healthcare systems and rising demand for advanced data collection and analysis technologies are expected to drive the Asia Pacific Master Patient index software market, even during the pandemic. In January 2021, BC Platforms, a significant clinical and genomic data management player, announced a collaboration with Japan-based RIKEN research institution and the Finnish Institute for Health and Welfare (‘THL’). Moreover, adoption of digitalization of the healthcare system, the growing preference for remote patient care in the developing countries in the region, and a more significant number of regulatory agencies laying stress on value and patient outcome, patient engagement is expected to increase adoption of the master patient index software in coming years.
The market for master patient index software market is segmented into type, and deployment. Based on type, the master patient index software market is segmented into software, and service. 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.
McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc. MEDITECH, and Intersystems Corporation are among the leading companies in the Asia Pacific master patient index software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in August 2020, Allscripts and Sheba Medical Center have developed a collaboration to increase the pace of artificial intelligence technology and enhance patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, with a goal of transforming healthcare by 2030.
According to a new market research study on “Asia Pacific Master Patient Index Software Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type, and Deployment,” is expected to reach US$ 371.2 million by 2028 from US$ 180.3 million in 2021. The market is estimated to grow at a CAGR of 10.9% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific master patient index software market along with the drivers and restraints pertaining to the market growth. 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 COVID-19 pandemic has put a major strain on the health systems of many countries around the world. Testing capacity in many Asia Pacific countries was limited and of low quality in the initial days of the pandemic, which led to a surge in the COVID-19 cases. However, many countries, such as South Korea, Japan, and Singapore, were efficiently contained the situation through robust tracking and testing. Also, India has the second-highest number of cases in the world after the US. The increasing burden on existing healthcare systems and rising demand for advanced data collection and analysis technologies are expected to drive the Asia Pacific Master Patient index software market, even during the pandemic. In January 2021, BC Platforms, a significant clinical and genomic data management player, announced a collaboration with Japan-based RIKEN research institution and the Finnish Institute for Health and Welfare (‘THL’). Moreover, adoption of digitalization of the healthcare system, the growing preference for remote patient care in the developing countries in the region, and a more significant number of regulatory agencies laying stress on value and patient outcome, patient engagement is expected to increase adoption of the master patient index software in coming years.
The market for master patient index software market is segmented into type, and deployment. Based on type, the master patient index software market is segmented into software, and service. 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.
McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc. MEDITECH, and Intersystems Corporation are among the leading companies in the Asia Pacific master patient index software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in August 2020, Allscripts and Sheba Medical Center have developed a collaboration to increase the pace of artificial intelligence technology and enhance patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, with a goal of transforming healthcare by 2030.
The report segments the Asia Pacific Master Patient Index Software market as follows:
By Type
- Software
- Service
By Deployment
- Cloud-based
- On Premises
By Country
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific master patient index software market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific master patient index software market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the master patient index software market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Master Patient Index Software Market - Market Landscape
5. Asia Pacific Master Patient Index Software Market - Key Market Dynamics
6. Master Patient Index Software Market - Asia Pacific Analysis
7. Asia Pacific Master Patient Index Software Market Analysis and Forecasts To 2028 - By Type
8. Asia Pacific Master Patient Index Software Market Analysis and Forecasts to 2028 - By Deployment
9. Master Patient Index Software Market Revenue and Forecasts to 2028 - Geographical Analysis
10. Impact of COVID-19 Pandemic on Asia Pacific Master Patient Index Software Market
11. Industry Landscape
12. COMPANY PROFILES
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- McKESSON CORPORATION
- Oracle Corporation
- Wipro Limited
- Allscripts Healthcare Solutions, Inc.
- MEDITECH
- Intersystems Corporation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 93 |
Published | July 2021 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 180.3 Million |
Forecasted Market Value ( USD | $ 371.2 Million |
Compound Annual Growth Rate | 10.9% |
Regions Covered | Asia Pacific |