According to a new report Global Patient Safety & Risk Management Software Market, published by KBV research, The Global Patient Safety and Risk Management Software Market size is expected to reach $2.7 billion by 2026, rising at a market growth of 11.6% CAGR during the forecast period.
On the basis of end-user, the hospital segment has led the market for patient safety and risk management software and has the highest revenue share in the year 2019, due to the rising need to lessen medical errors. Also, the ambulatory care center is expected to show the fastest growth rate in the coming years. The reduction in the time of diagnosis, application of an effective management system so as to offer patient safety, and decrease in the cost accompanied by the treatments are the main factors boosting the growth of the market.
On the basis of type, the market for governance, risk, & compliance (GRC) solutions are likely to grow at the maximum rate during the foreseeable period. The large growth of this segment is accredited to the growing number of hostile events to patients all across the world and the effective use of GRC solutions. GRC solutions offer safe, better quality care to patients for keeping compliance with industry regulations and standards.
North America led the global patient safety and risk management software market has a significant revenue share of the market in the year 2019. The growing shift to healthcare IT solutions from the premise solutions is boosting the growth of the market. The patient safety and risk management software market in APAC is likely to show significant growth during the forecast period. The growth is mainly driven by the rise in the population of the patient population in this region, rapid return on investment (ROI), and increasing government initiatives in order to increase patient safety & patient consequences in healthcare.
Structural Insights: https://www.kbvresearch.com/patient-safety-risk-management-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Conduent, Incorporated, Becton, Dickinson and Company, Health Catalyst, Inc., RLDatix, Riskconnect, Inc., Clarity Group, Inc., Symplr (The Patient Safety Company), RiskQual Technologies, Inc., Smartgate Solutions Ltd. and Prista Corporation.
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