Overview and Scope
The patient safety and risk management software is a computer program used in risk management by analyzing and reporting medical issues that arise in healthcare institutions. This program is also used for reduction and prevention of such kind of errors. Patient safety concentrates on minimizing harm to patients whereas risk management prioritizes patient harm as well as other forms of hazards.
Sizing and Forecast
The patient safety and risk management software market size has grown strongly in recent years. It will grow from $2.16 billion in 2023 to $2.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased awareness of patient safety, regulatory requirements, focus on reducing medical errors, data-driven insights, real-time monitoring and alerts, patient engagement and empowerment..
The patient safety and risk management software market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to stringent regulatory compliance, advancements in data analytics and ai, integration with electronic health records (ehr), preventive measures for medical errors.. Major trends in the forecast period include emphasis on patient-centric care, integration of data analytics and ai, enhanced electronic health records (ehr) integration, focus on preventable medical errors..
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Segmentation & Regional Insights
The patient safety and risk management software market covered in this report is segmented –
1) By Type: Risk Management And Safety Solutions, Claims Management Solutions, Governance, Risk And Compliance Solutions
2) By Deployment Mode: Private Cloud, Public Cloud
3) By End-User: Hospitals, Ambulatory Care Centers, Long-Term Care Centers, Pharmacies, Other End Users
Top Major Players:
Conduent Legal & Compliance Solutions LLC
Becton Dickinson and Company
Health Catalyst Inc.
RLDatix Solutions Inc.
Riskonnect Inc.
North America was the largest region in the patient safety and risk management software market in 2023.
North America was the largest region in the patient safety and risk management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient safety and risk management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing adoption of IT in healthcare sector is expected to propel the growth of the patient safety and risk management software market going forward. The healthcare industry has benefited greatly from advances in information technology (IT). Electronic medical records are one example of a huge improvement that IT has given to hospitals (EMR). With the use of this technology, medical data can be compiled into a single database. Use of digital tools and teleconsultation is another recent advance in information technology (IT) in Healthcare. For instance, in August 2021, according to McKinsey & Company, a US-based management consulting company, telehealth was utilized for 13% to 17% of U.S. patient visits across all specialties, indicating consumer adoption for telehealth services has skyrocketed. Therefore, the adoption of IT in healthcare sector is expected to propel the growth of patient safety and risk management software industry going forward.
Key Industry Players
Major companies operating in the patient safety and risk management software market report are Conduent Legal & Compliance Solutions LLC, Becton Dickinson and Company, Health Catalyst Inc., RLDatix Solutions Inc., Riskonnect Inc., Origami Risk LLC, Symplr LLC, Clarity Group Inc., Verge Solutions LLC, RiskQual Technologies Inc., The Patient Safety Company B. V., Meditech Group Holdings Limited, Morrisey Holdings Inc., RiskMan International Pty Ltd, MidasPlus Inc., Quantros Inc., Brandix Lanka Limited, MRM Group LLC, Prista Corporation, Marsh ClearSight LLC, CCD Health Systems Inc., Datix Limited, Smartgate Solutions Ltd., RL Solutions Inc., Fortude Company Ltd., Ideagen plc, IQVIA Holdings Inc., NAVEX Global Inc., Wolters Kluwer N. V.
The patient safety and risk management software market report table of contents includes:
1. Executive Summary
2. Patient Safety And Risk Management Software Market Characteristics
3. Patient Safety And Risk Management Software Market Trends And Strategies
4. Patient Safety And Risk Management Software Market – Macro Economic Scenario
5. Global Patient Safety And Risk Management Software Market Size and Growth
…
31. Global Patient Safety And Risk Management Software Market Competitive Benchmarking
32. Global Patient Safety And Risk Management Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Patient Safety And Risk Management Software Market
34.Patient Safety And Risk Management Software Market Future Outlook and Potential Analysis
35. Appendix
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