The master patient index software market in South and Central America is expected to grow from US$ 44.9 million in 2021 to US$ 83.1 million by 2028; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028. A significant shift toward paperless data management has enabled various healthcare players to adopt cloud-based technologies. Also, decrease in the cost of cloud-based technologies, improvements in terms of flexibility and security, and low maintenance requirements and costs are further propelling the adoption of these technologies among healthcare organizations. These advantages help the provide high-quality services and personal care to patients. The cloud-based technologies have eliminated interoperability issues, and at the same time have enabled the easy data integration with a healthcare organization. As the healthcare data, available in huge volumes, are organized and saved on cloud servers, processing these data has become feasible for the healthcare professionals. Cloud-based technologies allow healthcare professionals to operate in tandem with different departments, institutions, and healthcare service providers and consumers. Furthermore, technological advancements are supporting the integration of artificial intelligence (AI) and machine learning in patient management, which assist users to manage healthcare operations and massive data. Thus, the adoption of cloud-based technologies boosts the demand for master patient index software to streamline and simplify the patient data management process. The market for master patient index software market is segmented into type, and deployment.Based on type, the master patient index software market is segmented into software, and service.
In 2020, based on type, the software segment held the largest share of the market, also the same segment is estimated to grow at the highest CAGR due to increasing development in the healthcare IT by the market players, and adoption patient data management software to enhance patient care during the forecast period. The COVID? 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America.It suffers from severe inequalities.
State-run hospitals and clinics are already overstressed by treating vector?borne diseases and community?acquired infections, and high rates of non?communicable diseases (NCDs).Also, the prevention and treatment of NCDs have been critically affected since the onset of the COVID-19 in the region, as per the Pan American Health Organization (PAHO).
Before COVID-19, approximately 81% of all deaths in the region were due to NCDs. An estimated 62 million people live with diabetes, and 1.2 million live with cancer in South and Central America. Moreover, in South and Central America, the Gross Domestic Product (GDP) and central government healthcare expenditure are significantly lower than in developed countries. In 2018, as per the United Nations Economic Commission for Latin America (CEPAL), 16 South American countries invested less than 4% of their GDP in healthcare. The consequences of a lack of investment in public healthcare systems are reflecting during the pandemic. The COVID?19 pandemic is exacerbating these inequalities by threatening the infrastructure and capacity of state?owned healthcare systems. Thus, the factors mentioned above are negatively impacting the growth of the market in the region. The overall South and Central America master patient index software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the South and Central America master patient index software market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South and Central America Master patient index software market. McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc., MEDITECH, and Intersystems Corporation are among a few players operating in the South and Central America master patient index software market.
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