Global Patient Safety & Risk Management Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Patient Safety & Risk Management Software Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global patient safety & risk management software market has been segmented on the basis of software type, end-user, as well as regions and countries.
Patient safety focuses on mitigating harm to patients; whereas risk management software refers to a set of tools that aid companies in preventing or managing critical risks that all businesses face, including financial, legal, regulatory compliance, as well as strategic and operational risks.
The increasing need to offer appropriate patient care and safety, as well as the surging increase in the number of medical errors taking place in medical facilities across the world are some of the primary factors that are anticipated to continue to fuel the revenue growth of the global patient safety & risk management software market over the next decade. Moreover, the increasing prominence of digitization, its growing adoption rates, as well as the numerous initiatives being undertaken by governing bodies to elevate the healthcare software market are also some of the other primary factors that are expected to boost market growth for this global industry in the years to come.
Furthermore, increasing operational efficiency owing to lower medical errors and improved patient awareness levels, as well as the general improving of healthcare infrastructures across the world are also factor that are expected to compliment the revenue growth of the global patient safety & risk management software market in the foreseeable future.
However, in light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global patient safety & risk management software market is no different. This is a factor that could potentially impede on the market growth of this global industry in the near future.
Nonetheless, the increasing need for healthcare organizations to comply with respective regulatory guidelines, the ongoing improvements to healthcare infrastructure across the world, and the various initiatives being undertaken by government and private bodies to promote better patient care and safety are also some of the other factors that are expected to continue to fuel the revenue growth of the global patient safety & risk management software over the next 10 years.
Segmentation of the global patient safety & risk management software market is as follows:
In terms of software type, the risk management & safety solutions segment accounted for the maximum number of revenue shares of the global patient safety & risk management software market in 2020, and is expected to index considerable revenue growth over the next decade. This can be attributed to the growing need to lower/reduce the number of medical errors being recorded through the increasing adoption of IT in healthcare, as it offers a simplified and consistent data collection process.
With regards to end-user, the hospitals segment accounted for the highest number of revenue shares of the global patient safety & risk management software market in 2020, and is expected to index considerable revenue growth over the next decade. However, the ambulatory care center segment is expected to register the fastest rate of revenue growth over the next 10 years.
Regional Segmentation and Analysis:
North America accounted for the highest number of revenue shares of the global patient safety & risk management software market in 2020, and is expected to continue to do so over the course of this forecast period. This can be attributed to the increasing adoption of healthcare IT solutions in place of conventional on-premise solutions in this region. The markets in the Asia Pacific region are also anticipated to index a considerably high CAGR over the next 10 years.
Segmentation of the Global Patient Safety & Risk Management Software Market:
Segmentation by Software Type:
- Risk Management & Safety Solutions
- Claims Management Software
- Governance, Risk & Compliance Solutions
Segmentation by End-User:
- Ambulatory Care Centers
- Long-Term Care Centers
Segmentation by Regions:
- North America
- South America
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Riskonnect Inc.
- Health Catalyst (U.S.) LLC
- Conduent Inc.
- Origami Risk LLC
- RLDatix Ltd.
- Clarity Group Inc.
- Verge Health Solutions LLC
- RiskQual Technologies Inc.
- Quantros Inc.
- The Patient Safety Company
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