According to the report titled ‘Global Personal Health Record Software Market Size study, By Component (Software & Mobile Apps, Services), By Deployment Mode (Cloud-, Web-based), By Architecture Type(Payer Tethered, Provider Tethered, Standalone) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global personal health record software market was valued at USD 70.7 billion in the year 2020 and is expected to grow at a healthy rate of 9.9%, thereby reaching a valuation of USD 136.9  by 2027.
 

Implementation of cloud-based software for monitoring personal information, as well as increased government initiatives to strengthen public healthcare services are driving the growth of global personal health record software market.
 

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Furthermore, widespread use of mobile and electronic devices in the medical field, as well as public awareness about health are likely to generate lucrative opportunities for businesses in this domain in the coming years.
 

Despite the positive outlook, challenges like inadequate technical awareness are projected to hamper industry development over the analysis period.
 

Based on components, worldwide personal health record software industry is divided into services, and software & mobile apps. In terms of deployment mode, the market is categorized into cloud-based, and web-based. Concerning architecture, the business sphere is classified into standalone, provider tethered, and payer tethered.
 

From a regional standpoint, North America market is anticipated to exhibit a significant growth during the projected timeline, owing to supportive government initiatives, focus on following rules to reduce massive costs of healthcare, and raising public awareness about eHealth.
 

Meanwhile, the industry dynamics are poised to shift favorably over the forecast period, owing to factors like high demand for mobile patient sensors & monitoring alternatives. Expanding elderly population & infant population leading to a rapid increase in chronic and long-term disease cases are poised to impel the demand for personal healthcare record software as well.
 

The competitive landscape of global personal health record software market is defined by companies such as Knapsack Health, Healthspek Inc., Zapbuild, Office Ally LLC, NoMoreClipboard LLC, SoftClinic Software, Records For Living Inc., 75Health (Kaaspro Enterprises), Health Companion, and Practice Fusion Inc. among others.