Personal Health Record Software Market Size Is Expected To Reach USD 12.1 Billion By 2028


 San Francisco, 13 Jan 2022: The Report Personal Health Record Software Market Size, Share & Trends Analysis Report By Component (Software & Mobile Apps, Services), By Deployment Mode (Cloud-, Web-based), By Architecture Type, And Segment Forecasts, 2021 - 2028

The global personal health record software market size is expected to reach USD 14.87 million by 2028, growing at a CAGR of 9.9% over the forecast period, according to a new report by Grand View Research, Inc. High acceptance of advanced technologies, growing demand for centralizing, and streamlining of healthcare information, rising awareness among patients for medical information storage and management, and increasing government initiatives will support the market growth during the forecast period.

For instance, in October 2019, The Union Ministry of Health and Family Welfare, Government of India developed an app, ‘My Health Record’, which permits users to store their past prescriptions, detailed health profile, lab records & diagnoses at one platform and share it with medical specialists when required. The COVID-19 has toppled the way of work and life, enforcing healthcare groups to share individual’s medical records in a format that is meaningful and easily available.

The Department of Health and Human Services Office of the National Coordinator for Health Information Technology, together with the Centers for Medicare & Medicaid Services, issued two new rules to come into force in April 2021. One rule requires healthcare groups to make health record data available electronically through broadly-used technical standards. While the other forbids “information blocking,” where healthcare groups place excessive practical, cost, and technical barriers to the sharing of health information.

The North American region held the largest revenue share of over 55% in 2020 owing to the government initiatives for eHealth and an increased need to follow regulatory guidelines and curtail the rising healthcare costs. The European region held the second-largest market share in 2020 owing to the decreased cost of care and prediction of a possible medical emergency.

Key players are investing in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, in March 2020, Knapsack Health launched a free Personal Health Record for individuals, families, and caretakers.

Access Research Report of Personal Health Record Software Market @ https://www.grandviewresearch.com/industry-analysis/personal-health-record-software-market-report

Personal Health Record Software Market Report Highlights

  • High acceptance of advanced technologies to cater to the growing customer needs and expansion of digital healthcare has contributed significantly to the market growth
  • In terms of revenue, the software & mobile apps component segment dominated the market in 2020 owing to increased supportive government initiatives
  • The Cloud-based deployment mode segment is expected to register the fastest CAGR over the forecast period owing to the technological up-gradation in the healthcare sector and growing focus on healthcare digitization
  • The standalone architecture type segment accounted for the largest revenue share in 2020 due to wide adoption on account of its benefits, such as privacy control
  • Key players in the personal health record software market focus on various strategies, such as new product developments and business expansions, for better market penetration
  • For example, in September 2020, PicnicHealth raised $25 million for its patient health record management service; thereby, strengthening its market position

List of Key Players of Personal Health Record (PHR) Software Market

  • Healthspek
  • Health Companion
  • NoMoreClipboard
  • Patient Ally
  • Records For Living, Inc.
  • Practice Fusion, Inc.
  • SoftClinic Software
  • Knapsack Health
  • 75Health (Kaaspro)
  • Zapbuild
  • Validic

Access Press Release of Personal Health Record Software Market @ https://www.grandviewresearch.com/press-release/global-personal-health-record-software-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more