Patient Safety and Risk Management Software Market | Increasing Incidences of Medical Errors

[122 Pages Report] The patient safety and risk management solutions market is estimated to be worth USD 2.2 billion by 2024 from a value of USD 1.3 billion in 2019, growing at a CAGR of 11.2% during the forecast period.
The rising need to curtail healthcare costs, increasing incidences of medical errors & hospital-acquired infections, and growing government initiatives to improve patient safety and patient outcomes are key drivers of this market. On the other hand, the dearth of in-house IT expertise and the reluctance of healthcare providers to adopt new methods of patient safety and risk management are expected to restrain the growth of the market to a certain extent during the forecast period.
Market Size Estimation
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends, by type, by deployment mode, end-user, and region).
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Data Triangulation
After arriving at the market size, the total market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation and market breakdown procedures were employed, wherever applicable.
Objectives of the Study
• To define, describe, and forecast the global patient safety and risk management solutions market by type, deployment mode, end-user, and region
• To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the size of the market in five regions (along with major countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
• To profile key players in the patient safety and risk management solutions market and comprehensively analyze their core competencies and market shares
• To track and analyze competitive developments such as mergers and acquisitions; new product/technology launches; expansions; collaborations, partnerships, and agreements; and R&D activities of the leading players in the global market
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Key Market Players
The key players in the global patient safety and risk management solutions market are Clarity Group Inc. (US), Conduent Inc. (US), Prista Corporation (US), Quantros Inc. (US), Riskonnect Inc. (US), RiskQual Technologies (US), RLDatix (Canada), Smartgate Solutions Ltd. (UK), The Patient Safety Company (Netherlands), and Verge Health (US).