Global Patient Risk Management and Safety Market By Solutions (Infection Prevention Management, Surveillance Management, Risk Management, Audit Management, Claims Management, Incident Reporting, Others), Component (Software, Services), End User (Hospitals, Long-Term Care Centers, Ambulatory Care Centers, Pharmacies, and Other), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Patient Risk Management and Safety Market
Global patient risk management and safety market is expected to rise with a healthy CAGR of 10.85% in the forecast period of 2019-2026. This rise in market value can be attributed to the high cost of the software. The report contains data of the base year 2018 and historic year 2017.
Market Definition: Global Patient Risk Management and Safety Market
Healthcare safety management is mainly dedicated on minimizing the medication errors, human errors and to improve the different healthcare processes. This is basically a software solution, which provides real time visibility into quality and safety management processes. This system comprises of infection prevention management, risk management, incident reporting, surveillance management, claims management, audit management, and analytics solutions. According to World Health Organizations report, in Europe health-care related adverse events and medical errors arise in 8% to 12% of hospitalizations.
- Growing demand to decrease the high healthcare expenditure, is expected to drive the growth of the market
- Increasing cases of hospital-acquired infections also acts as a market driver
- Increasing government initiatives for the improvement of patient safety and patient outcomes also boosts the market growth
- Rising focus on improving patient outcomes can also accelerate the growth of this market
- Unwillingness to change from conventional methods, which is restricting the overall adoption of these safety measures can act as a market restraint
- Dearth of skilled IT professionals; this factor is expected to restrict the growth of the market
- High cost of the software also hampers the market growth
Segmentation: Global Patient Risk Management and Safety Market
- Infection Prevention Management
- Surveillance Management
- Risk Management
- Audit Management
- Claims Management
- Incident Reporting
- Consulting Services
- Training & Education
- Long-Term Care Centers
- Ambulatory Care Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2018, Sciformix Corporation (A Subsidiary of Covance Inc.) has launched a platform of new technology which can offer end-to-end solutions for safety & risk management. This expansion will help to overcome the unmet technology services for their life sciences customers
- In July 2018, RL Solutions merged with Datix Limited. Datix Limited is a leading provider of healthcare quality and patient safety software. By this partnership the company will be able create a greater impact on patient safety all over the world
Global patient risk management and safety market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of patient risk management and safety market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global patient risk management and safety market are RLDatix, Verge Solutions, LLC, RiskQual, QUANTROS, INC., Clarity Group, Inc., Conduent, Inc, Prista Corporation, The Patient Safety Company, Ncontracts, Med-IQ, Inc., MetricStream Inc., IQVIA, Health Catalyst, Smartgate Solutions Ltd., Salus Global Corporation, Covance Inc., BD among others.
Research Methodology: Global Patient Risk Management and Safety Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global patient risk management and safety market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)