Patient Data Management Systems (PDMS) Market Size, Share, Growth, And Industry Analysis By Type (Single Function System and Multifunction System) By Application (ICUs, and General Ward), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

PATIENT DATA MANAGEMENT SYSTEMS (PDMS) MARKET REPORT OVERVIEW 

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The global patient data management systems (PDMS) market size was USD 906 million in 2021 and is projected to touch USD 2641.72 million by 2031 at CAGR 11.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

A piece of software called Patient Data Management Systems (PDMS) stores and organizes patient data. PDMS makes finding, accessing and maintaining patient information simpler, which also helps speed data collection. There are several different kinds of PDMS on the market, including EMR/EHR Systems: The comprehensive PDMS, known as electronic medical records (EMR) and electronic health records (EHR) systems, store patient data, including medical and administrative data. Practice management systems automate patient scheduling, billing, and appointment reminders in addition to helping to manage a practice’s operations. - Clinical Decision Support Systems: These tools are made to assist healthcare professionals in reaching more intelligent conclusions. These systems offer decision help supported by evidence and can be used to speed up diagnosis and treatment.

Analytics Platforms: Analytics platforms are employed to examine patient data and offer perceptions into patterns and results. These technologies can assist in locating patients who are at high risk and provide suggestions for better results. Patients can access their medical records, make appointments, and connect with clinicians through portals and web-based solutions. Your healthcare company’s finest patient data management systems (PDMS) should be selected because each type has different characteristics and advantages.

COVID-19 Impact: The Increase in Demand for Digital Solutions to Ensure the Health and Safety of Healthcare Personnel and Patients Accelerated the Market Growth

The fast demand for digital solutions to safeguard the health and safety of medical staff and patients has significantly impacted the patient data management systems (PDMS) market. The pandemic has compelled healthcare professionals to use new technologies to enhance the standard of care and effectively handle patient data. Additionally, the pandemic has caused healthcare providers to emphasize patient data security more as they explore ways to protect patient data from hackers. The number of suppliers offering digital solutions for managing patient data has been surging in the PDMS market due to the rising demand for digital solutions. These vendors provide products that help healthcare organizations securely and effectively manage patient data. These suppliers provide a variety of solutions, including solutions that are analytics-driven, cloud-based, and mobile-based. The pandemic has also increased telehealth service uptake, which has raised the demand for digital patient data management systems. Healthcare providers are turning to PDMS solutions to ensure secure and effective patient data management in light of the rising use of telehealth services.

Additionally, the epidemic has caused a shift in attention to data security and privacy. Healthcare providers are looking for solutions that guarantee patient data privacy and offer secure access to patient data. As a result, there is more need for products that offer robust data security features and permit secure access to patient data.

Latest Trends

"The Emergence of Artificial Intelligence (AI) and Machine Learning (ML) Boosts the Market Expansion"

The introduction of artificial intelligence (AI) and machine learning is the most recent development in patient data management systems (PDMS) (ML). Patient data is rapidly being stored, analyzed, and interpreted using AI and ML. A PDMS powered by AI can learn from historical data and forecast future patient care requirements. This can be utilized to raise patient outcomes, lower costs, and enhance the quality of care. Predictive analytics, which can find patterns in patient data and offer treatments or interventions, is now being incorporated into PDMS. This enables professionals to make better choices regarding patient care. To provide a complete picture of a patient’s health, PDMS can now link with other systems, such as electronic health records (EHRs). This makes it possible to guarantee the accuracy and currentness of all patient data. All of these developments are assisting in improving the effectiveness and efficiency of patient data management systems.

PATIENT DATA MANAGEMENT SYSTEMS (PDMS) MARKET SEGMENTATION 

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• By Type Analysis

The patient data management systems (PDMS) market can be segmented into single function system and multifunction system. Among these, the single function system is projected to experience rapid growth through 2031.

• By Application Analysis

The market can be divided based on application into ICUs and general ward. ICUs are expected to hold the most significant patient data management systems (PDMS) market share in the upcoming years.

Driving Factors

"Increasing Adoption of Electronic Health Records (EHRs) and the Need for Efficient Patient Data Management to Propel the Market Expansion"

Various motivating and inhibiting factors impact the market for patient data management systems (PDMS). On the one hand, the market for PDMS is primarily driven by the rising use of electronic health records (EHRs) and the demand for effective patient data management. The potential of PDMS to deliver effective patient data management and the rising desire for better healthcare outcomes are anticipated to drive market expansion.

"The Increasing Prevalence of Chronic Diseases and The Need For Better Patient Care Fuels the Market Growth"

The PDMS market is also driven by the rising prevalence of chronic diseases and the demand for better patient care. In the upcoming years, the PDMS market is anticipated to rise because of the increased public awareness of the advantages of these systems.

Restraining Factors

"Lack of Awareness, High Cost of Implementation, and the Lack of Technical Expertise Hinder the Market Growth"

Some major factors limiting the growth of the PDMS market are a lack of knowledge about the advantages of PDMS, high implementation costs, and a lack of technical know-how. Additionally, it is anticipated that the absence of standards for patient data management systems will impede the expansion of the PDMS market. Additionally, it is anticipated that the PDMS market will experience limited expansion due to the severe regulatory environment in the upcoming years. Despite these impediments, the PDMS market is predicted to expand significantly over the next several years due to the rising use of EHRs, the demand for effective patient data management, and the rising incidence of chronic diseases.

PATIENT DATA MANAGEMENT SYSTEMS (PDMS) MARKET REGIONAL INSIGHTS 

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"North America to Dominate Market Due to Increasing Adoption of Electronic Health Records (EHRs) and the Need for Efficient Patient Data Management"

Between 2024 and 2031, the patient data management systems (PDMS) market will be dominated by North America. Factors driving the market growth in this region include the Increasing adoption of electronic health records (EHRrs) and the need for efficient patient data management.

Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The increasing prevalence of chronic diseases and the need for better patient care fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Philips Healthcare (Netherlands)
• GE Healthcare (U.S.)
• Siemens Healthineers (Germany)
• Dräger (Germany)
• Radiometer Medical (Denmark)
• Cerner (U.S.)
• IMD Soft (U.S.)
• Elekta (Sweden)
• Nexus AG (Germany)
• Mortara (U.K.)
• Smiths Medical (U.S.)
• Medset (Germany)
• UTAS (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.