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The global patient safety and risk management software market grew at a CAGR of around 10% during 2015-2020. Patient safety and risk management software offers innovative tools to protect hospitals against administrative, clinical, and financial losses. It assists in collecting data consistently, adding structure to internal compliance processes, and capturing visitor feedback to manage expectations and resolve concerns timely. It relies on sophisticated analytics to transform complex data into understandable and actionable information. Presently, healthcare institutes worldwide are using patient safety and risk management software to reduce deaths caused by human error and lack of transparency in medical records.
The growing prevalence of chronic conditions and the rising access to healthcare services across the globe are increasing the burden of medical data. This represents one of the key factors escalating the demand for patient safety and risk management software worldwide to collect data, automate processes, and reduce medical errors efficiently and securely. Moreover, the leading players are delivering software via a cloud-based infrastructure to enhance the accuracy, speed, and actionability of data. The rising instances of cybersecurity threats are also positively influencing the demand for cloud-based software to enable organizations to adapt to industry uncertainties, reduce third-party risk and provide quality care, which is fueling the market growth. Apart from this, several companies are integrating big data and smart analytics with extensive support services to streamline data collection, automate communication, and make better strategic decisions. As patient safety and risk management software is flexible, scalable, modular, secure, user-friendly, and can be used anywhere, its demand is anticipated to rise in the coming years. Looking forward, IMARC Group expects the global patient safety and risk management software market to exhibit strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global patient safety and risk management software market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, software type, deployment mode and end user.
Breakup by Software Type:
Breakup by Deployment Mode:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Clarity Group Inc., Conduent Inc., Health Catalyst Inc., Medical Information Technology Inc., Prista Corporation, Quantros Inc., Riskonnect Inc., RiskQual Technologies, RLDatix Ltd. and The Patient Safety Company (Symplr).
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