Personal Health Record Software Market Size & Growth Analysis to 2030

The global personal health record software market size is expected to witness a significant CAGR of around 10% during the forecast period and was estimated at over USD 7 billion in 2020. The increasing demand for managing and storing personal healthcare data, rising adoption of advanced technologies, and government initiatives are some of the major factors to drive the market growth. Furthermore, the rising adoption of cloud-based software to communicate personal healthcare information is further anticipated to boost the market growth over the forecast period. Moreover, the rising awareness among consumers to manage personal health information and continuous innovation in healthcare apps is further expected to fuel the market growth.

Market Drivers:

Increasing Emphasis on Patient-Centric Healthcare: There is a growing shift towards patient-centric healthcare, with an increased focus on empowering individuals to take control of their health information. Personal health record software enables individuals to store, manage, and access their health records electronically, promoting patient engagement and involvement in their healthcare decision-making.

Digitization of Healthcare Records: The healthcare industry is moving towards digitization, with a shift from paper-based medical records to electronic health records (EHRs). Personal health record software integrates with EHR systems, allowing individuals to access and consolidate their health information from multiple healthcare providers into a single platform. This digitization trend drives the demand for PHR software as a means to organize and access electronic health records.

Improved Care Coordination and Continuity: Personal health record software facilitates better care coordination and continuity across different healthcare settings. By providing a centralized repository of health information, it enables healthcare providers to access comprehensive patient data, leading to more informed decision-making and coordinated care delivery. This improves patient outcomes and reduces healthcare costs.

Empowerment for Chronic Disease Management: Personal health record software plays a crucial role in empowering individuals with chronic diseases to manage their conditions effectively. It allows users to track symptoms, monitor vital signs, record medications, and set reminders for appointments and medication adherence. By providing tools for self-management, PHR software supports individuals in better understanding and managing their health conditions.

Enhanced Patient-Provider Communication: PHR software facilitates secure communication and information exchange between patients and healthcare providers. It enables individuals to share their health records, lab results, and other relevant information with their healthcare team, fostering better communication and collaboration. This improves the quality of care, reduces errors, and strengthens the patient-provider relationship.

Data Privacy and Security: Personal health record software prioritizes data privacy and security to protect sensitive health information. Advanced encryption, secure access controls, and compliance with data protection regulations enhance user trust and confidence in utilizing PHR software. The increasing importance of data privacy drives the demand for secure and reliable personal health record solutions.

Growing Adoption of Mobile Health (mHealth) Technologies: With the widespread use of smartphones and mobile devices, there is a growing demand for mobile health applications and solutions. Personal health record software that is compatible with mobile devices allows individuals to access their health records on-the-go, facilitating convenient and timely access to their health information.

Aging Population and Chronic Disease Prevalence: The aging population and the increasing prevalence of chronic diseases drive the demand for personal health record software. Elderly individuals and those with chronic conditions often have complex medical histories and require better management of their health information. PHR software helps address these needs by providing a comprehensive and easily accessible platform for organizing and tracking health records.

Government Initiatives and Incentives: Government initiatives aimed at promoting health information exchange, interoperability, and patient engagement contribute to the growth of the personal health record software market. Policies that incentivize healthcare providers to adopt and utilize personal health record solutions drive the demand for PHR software.

Consumer Demand for Health Technology: There is a growing demand among consumers for health-related technologies that empower them to be more proactive in managing their health. Personal health record software aligns with this consumer demand by providing a user-friendly and accessible platform for organizing, tracking, and sharing health information.

Market Snapshot:

Market Insights:

The global personal health record software market is bifurcated into component, deployment mode, architecture type, and geography. On the basis of components, the market is further segmented into software & mobile apps and services. The software and mobile apps segment dominated the global market in 2020 and estimated to hold the largest revenue share of over half of the market by the end of the analysis period. Technological advancement, increasing penetration of smartphones, and the growing demand for health record applications are some of the major factors to drive the segment growth.

On the basis of deployment mode, the market is segmented into web-based and cloud-based deployment. The web-based segment dominated the global personal health record software market in 2020 and accounted to hold a significant market share of around half of the market by the end of the analysis period. On the flip side, the cloud-based segment is estimated to grow at the fastest growth rate over the forecast period. The increasing demand for cloud-based solutions due to its properties such as cost-saving and multiple device access from anywhere is a major factor to drive the segment growth in next upcoming years.

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The personal health record software comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The personal health record software market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Component:

• Software & Mobile Apps
• Services

By Deployment:

• Web-based
• Cloud-based

By Architecture Type:

• Payer Tethered
• Provider Tethered
• Standalone

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, North America dominated the global personal health record software market in 2020 and estimated to hold the largest market share of over half of the market in terms of revenue. The early adoption of advanced technologies and the government initiatives for eHealth are some of the major factors to drive the market growth in the region. Furthermore, the rising awareness regarding healthcare data and the presence of some major players are further anticipated to fuel the market growth in North America.

Competitive Assessment

Some of the major market players operating in the global personal health record software market are Healthspek, NoMoreClipboard, Health Companion, Records For Living, Inc., and Patient Ally. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

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

Key Questions Answered by Personal Health Record Software Market Report

• Global personal health record software market forecasts from 2021-2027
• Regional personal health record software market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Personal health record software submarket forecasts from 2021-2027 covering the market by component, by deployment, by architecture type, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about personal health record software market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level personal health record software markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the personal health record software market