Personal Health Record Software Market size is expected to reach USD 14.87 million by 2028

 Personal Health Record Software Industry Overview

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.

 

Personal Health Record Software Market Segmentation

Grand View Research has segmented the global personal health record software market on the basis of component, deployment mode, architecture type, and region:

Based on the Component Insights, the market is segmented into Software & Mobile Apps and Services

  • The software & mobile apps segment dominated the market with a revenue share of over 57% in 2020. Rising technological developments in the healthcare industry support the segment growth. The demand for health record applications that need a smart and easy-to-practice user interface and high-speed internet connection for quick accessibility is increasing.
  • The services segment is expected to register the fastest CAGR over the forecast period. Earlier, a patient’s PHRs classically were paper documents saved on file. Businesses, such as PicnicHealth, are offering PHR services. In September 2020, PicnicHealth raised $25 million for its patient health record management service.

 

Based on the Deployment Mode Insights, the market is segmented into Web-based and Cloud-based

  • The web-based deployment mode segment dominated the personal health record software market with a revenue share of 52.0% in 2020. The rising adoption of online apps and development in digitization is likely to drive the segment during the forecast period.
  • The cloud-based segment is expected to register the fastest CAGR over the forecast period. Increasing demand for mobility in data usage cost-saving in IT infrastructure for enterprises, and multiple device access from anywhere promotes the segment growth. In e-health, the security and privacy of health data are one of the major concerns.

 

Based on the Architecture Type Insights, the market is segmented into Payer Tethered, Provider Tethered, and Standalone

  • The standalone segment led the global personal health record market in 2020 with a revenue share of over 40%. The segment will expand further at the fastest CAGR from 2021 to 2028. The system is completely patient-controlled, and providers can only view the data when their patients offer them access. 
  • The provider-tethered segment is expected to grow at a steady CAGR of more than 9.5% from 2021 to 2028. Provider-tethered PHRs are secured to a healthcare administration’s internal record system. Government initiatives to encourage healthcare IT usage and the introduction of technologically advanced healthcare services are expected to drive the segment growth.

 

PHR Software Regional Outlook

  • North America
  • Europe
  • Rest of the World

 

Key Companies Profile & Market Share Insights

The market players are involved in new product launches and business expansions to sustain the competition. Competitors are also implementing other business growth strategies to strengthen their market position.

Some of the prominent players in the global personal health record software market include:

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

 

Order a free sample PDF of the Personal Health Record Software Market Intelligence Study, published by Grand View Research.

 

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