Master Patient Index Software Market Size, Trends and Growth Analysis by 2027

The global market for master patient index software was valued at approximately US$ 776.36 million in 2020, with projections indicating it will reach around US$ 1,678.86 million by 2028. This growth represents a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028.

A notable trend in the healthcare sector is the transition towards paperless data management, which has encouraged numerous healthcare entities to embrace cloud-based solutions. The reduction in costs associated with cloud technologies, along with enhancements in flexibility, security, and lower maintenance expenses, are significant factors driving the adoption of these solutions among healthcare organizations. These benefits contribute to the delivery of superior services and personalized care for patients.

Cloud-based technologies have effectively resolved interoperability challenges and facilitated seamless data integration within healthcare organizations. As vast amounts of healthcare data are organized and stored on cloud servers, it has become increasingly feasible for healthcare professionals to process this information. Such technologies enable healthcare providers to collaborate efficiently across various departments, institutions, and with both service providers and patients. Additionally, advancements in technology are fostering the incorporation of artificial intelligence (AI) and machine learning into patient management systems, aiding users in overseeing healthcare operations and handling extensive data sets. Consequently, the rise in cloud technology adoption is driving the demand for master patient index software, which is essential for optimizing and simplifying patient data management.

The master patient index software market is categorized by type into two segments: software and service. In 2020, the software segment commanded a larger portion of the market and is anticipated to experience significant growth during the forecast period. The ongoing advancements in both new and existing master patient index software solutions are expected to further enhance their adoption within the healthcare sector, thereby propelling market growth.

When considering deployment methods, the master patient index software market is divided into cloud-based and on-premises solutions. The cloud-based segment dominated the market in 2020 and is projected to expand at a more rapid pace in the upcoming years.

Key primary and secondary sources utilized in the preparation of the report on the master patient index software market include reputable organizations such as the Dubai Health Authority, National Health Service, Community Health Index, and the World Health Organization.