Patient Safety and Risk Management Software Market Scope
Patient safety and risk management software help healthcare service providers to mitigate clinical and administrative errors and risks in order to provide enhanced safety to their patients. In today’s time, patient safety has become an important factor in all types of healthcare organizations, especially in large organizations as the number of medical errors is increasing due to the continuous adoption of medical devices for various applications. The increasing number of deaths due to medical errors in the United States will create significant opportunities for the market. Many hospitals around the world are focusing on improving the safety of their patients which is likely to accelerate the growth. The software also allows to collection of data from incidents, complaints, checklists, or any other questionnaires and creates risk management plans and programs for healthcare organizations.
|Unit||Value (USD Million)|
|Key Companies Profiled||RLDatix (United States), Riskonnect (United States), Ventiv Technology (United States), Datix Limited (United Kingdom), The Patient Safety Company (Netherlands), MorCare (United States), Advantmed, LLC (United States), Verge Solutions (United States), Quantros, Inc. (United States), Origami Risk (United States), Clarity Group, Inc. (United States) and RiskWatch (United States)|
The global market is fragmented with a large number of players who are targeting innovation of the products or services with better features and advanced technologies to meet the changing demand of consumers for advanced patient safety & risk management solutions. Key players are also anticipated to keep a stronghold position in the global market during the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Patient Safety and Risk Management Software market throughout the predicted period.
RLDatix (United States), Riskonnect (United States), Ventiv Technology (United States), Datix Limited (United Kingdom), The Patient Safety Company (Netherlands), MorCare (United States), Advantmed, LLC (United States), Verge Solutions (United States), Quantros, Inc. (United States), Origami Risk (United States), Clarity Group, Inc. (United States) and RiskWatch (United States) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Patient Safety and Risk Management Software market by Type , by Application (Incident Reporting, Claim Management, Risk Analytics and Others) and Region with country level break-up.
On the basis of geography, the market of Patient Safety and Risk Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2020.
In July 2021, Emirates Health Services launched a new smart system for risk management and patient safety with the aim to improve quality programs through the provision of a complete vision in one platform. The system will add value to the existing treatment protocols and work outputs in health facilities and help develop in-depth improvement plans for risk management and patient safety.
Patient Safety and Risk Management Software Market Dynamics:
|Trends Influencing Market|
- Increased Focus on Innovation of Software with New Added Features
- Prominent Growth of Cloud-based Software Solutions Due to Flexibility and Interoperability
- Less Acceptance in Some Low-Income Countries and Inadequate IT Budget May Slow Down Adoption in SMEs
- Presence of a Large Number of Vendors in the Global Market Can Create Challenges for the Market
- High Growth of Patient Safety and Risk Management Software in the United States Due to Presence of Multiple Vendors and Adoption of Advanced Solutions for Patient Safety Management
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Patient Safety and Risk Management Software Providers, Software Solution Providers, Venture Capitalists and Private Equity Firms, End-users and Others