The global patient safety and risk management software market is expected to exhibit a CAGR of 11.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
Key Market Segmentation:
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 at the global, regional and country level from 2022-2027. Our report has categorized the market based on software type, deployment mode and end user.
Breakup by Software Type:
- Risk Management and Safety Solutions
- Claims Management Software
- Governance, Risk and Compliance Solutions
Breakup by Deployment Mode:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by End User:
- Ambulatory Care Centers
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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).
|Base Year of the Analysis
||Software Type, Deployment Mode, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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Key Questions Answered in This Report:
- How has the global patient safety and risk management software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global patient safety and risk management software market?
- What are the key regional markets?
- What is the breakup of the market based on the software type?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global patient safety and risk management software market and who are the key players?
- What is the degree of competition in the industry?