Persistence Market Research
Therapy management systems are an advanced software solution that upkeeps the data related to patients under treatment or scheduled for treatment. In the era of digitalization it is important to maintain the record of patients and their medical history due to rising number of patients undergoing various therapeutic procedures.
New Product Launches to Promote Growth
Some of the latest product launches to boost growth in the global therapy management system.
Mimo Progress- Designed especially for behavioural therapists, it works on cloud based system that provides personalized data management of patients. According to the user ratings on overall efficiency and user friendly it ranks on top. The information is completely encrypted and patient’s privacy is maintained.
Such, new launches generates demand, owing to further expansion of the global therapy management system market. Such products can be brought into other verticals of medical field.
New Technology for Oncology Therapy Management System
In 2019, Philips introduced a new IntelliSpace Radiation Oncology, a patient management system that helps in better efficiency and functional excellence. It will reduce the time taken to start the treatment plan, this system is still not commercialized. This system may prove to be very flexible in data management according to each clinician involved in therapy. It is also likely to be introduced in imaging, planning, and execution of patients treatment. If this product gets commercialized after being launched at European Society for Radiation Oncology, it is likely to bring in robust expansion in the global therapy management system.
In the regional front, North America is likely to hold a larger share in the global therapy management system. The growth is expected to be due to huge presence of such software developers and high rising awareness about the importance these software solutions.
Therapy management system is an innovative software solution to keep the record of patients and used in proper management of ongoing and scheduled therapies. Use of advanced therapy management systems has become important due to increasing number of patients and requirement of accurate records of patients undergoing therapeutic procedures. These systems keep a record of the patient’s therapeutic history, billing management and other related documents.
Therapy Management System Market: Drivers and Restraints
The global therapy management system market is expected to be driven by the increasing adoption of innovative solutions for the better management of patient history. Increasing development of newer technology such as integration with existing EHR and EMR of hospital systems and compliance of these systems with various regulatory requirements is also expected to boost the growth in the market. Various healthcare reforms and focus on keeping track of the therapy provided to a patient is also expected to enhance the growth in the therapy management system market. However, high costs of therapy management systems and complexity due to integration with existing systems is expected to hinder the growth of the market.
Therapy Management System Market: Segmentation
The global therapy management system market can be segmented on the basis of deployment and end user.
On the basis of deployment, the global therapy management system market can be segmented as:
On the basis of end user, the global therapy management system market can be segmented into:
Therapy Management System Market: Overview
The global therapy management system market is expected to show significant growth over the forecast period. Increasing focus on optimization of therapy and improvement in the clinical outcome due to use of the therapy management system is expected to lead to increasing adoption of these systems. Development of advanced and automated systems is expected to boost the growth in the therapy management system market. These systems are also used to keep the records in order and reminder of therapy for patients. By modality, cloud-based therapy management system is expected to dominate the market over the forecast period as it does not require physical storage space to keep backups of the data and can be accessed easily from anywhere. Management of data with the help of cloud-based systems is easier due to which cloud-based deployment is expected to dominate the therapy management system market. Hospitals are expected to be the key end use segments of the global therapy management system market over the forecast period as hospitals have higher resources to invest and install therapy management systems to keep track of a large patient population.
Therapy Management System Market: Region Wise Outlook
The global therapy management system market can be segmented into regions: North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The market in North America is expected to dominate over the forecast period. Presence of a majority of the global software developers and high awareness regarding the software solutions is a key factor leading to the growth of the therapy management system in this region. Since therapy management system is in its infancy stage and only a small percentage of the healthcare facilities are currently using these systems, there is a huge potential for growth. The market in Europe and Asia Pacific is also expected to show significant growth over the forecast period. Improving healthcare facilities and focus on providing optimized solutions is expected to drive the growth of the market of the therapy management system.
Therapy Management System Market: Key Players
Some of the key players in the global therapy management system market are, SimplePractice LLC., IQware, Inc., HealthPro/Heritage, Fresenius Medical Care Pty. Ltd., ClinicSource, Arbirage Sdn Bhd, Therigy LLC., B. Braun Avitum AG and Baylaan Technologies, Inc.
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