Patient Safety and Risk Management Software Market (By Type- Risk Management & Safety Solutions, Claims Management Solutions, and Governance, Risk & Compliance Solutions. By deployment mode, Private Cloud, Public Cloud, and Hybrid Cloud. By end user- Hospitals, Ambulatory Care Centers, Long-Term Care Centers, Pharmacies. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2020 – 2026.

The Global Patient Safety and Risk Management Software Market was $1.89 Bn in 2019, and it is forecast to reach $4.89 Bn by 2026. It is eventually growing at a commendable high compound of annual growth rate CAGR of 12.2% between 2020-2026. However, the current pandemic of COVID-19 had created an excellent opportunity for the companies operating in this field. The current demand for increased monitoring devices due to coronavirus had also helped the market to show a good surge in the present year. Moreover, government initiatives and a large portion of funds allocated for the development of structured healthcare facilities worldwide have also helped the market grow at the fastest rate than expected. Improve patient safety and increasing investment from private players is projected to be another critical factor for booming the market globally.

Global ‘Governance, Risk & Compliance Solutions’ Segment Is Estimated to Witness Remarkable Growth

Source: SAI Research

The global patient safety and risk management software market has been segmented into type, deployment mode, and end user. By type, the global patient safety and risk management software market is divided into risk management & safety solutions, claims management solutions, governance, and risk & compliance solutions. By deployment mode, global patient safety and risk management software market is divided into private cloud, public cloud and hybrid cloud. By end user, the global patient safety and risk management market is divided into hospitals, ambulatory care centers, long-term care centers, pharmacies, and others.

By Region, Asia Pacific is Holding the Major Market Share

The global patient safety and risk management software market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In addition to this, Asia Pacific is currently holding the largest market share of more than 30% and is estimated to show the steady compound annual growth rate in the upcoming forecast period. Furthermore, the introduction of advanced technology for monitoring patient safety and organized healthcare infrastructure for providing more care to patients for reducing medical errors are projected to fuel the market growth in Asia-Pacific. Latin America and Middle East patient safety and risk management software market is estimated to be growing at the fastest rate for patient safety and risk management software. Rapid population growth in countries such as China, and India coupled with the increased government spending towards patient safety with the help of increasing technology, are the factors expected for the Asia-Pacific patient monitoring devices market to propel during the forecast period. Rising applications of patient safety and risk management software in hospitals, ambulatory care centers, pharmacies, home care is expected to boost the European market for patient safety and risk management software. These reasons are expected to influence the market growth during the forecast period positively.

Major Players in Global Patient Safety and Risk Management Software Market

Some of the key players in the global patient monitoring devices market include RLDatix, Riskonnect Inc., Verge Health, Clarity Group Inc., The Patient Safety Company, RiskQual Technologies, Conduent Inc., Prista Corporation, Smartgate Solutions Ltd., Quantros, Inc., MRM Group LLC, Datix Limited, StatSoft Inc., MetricStream, Inc, and Salus Global Corporation.

Global ‘patient safety and risk management software market’ has been segmented into:

Global Patient Safety and Risk Management Software Market: By Type

• Risk Management & Safety Solutions
• Claims Management Solutions
• Governance, Risk & Compliance Solutions

Global Patient Safety and Risk Management Software Market: By Deployment Mode

• Private Cloud
• Public Cloud
• Hybrid Cloud

Global Patient Safety and Risk Management Software Market: By End-use

• Hospitals
• Ambulatory Care Centres
• Long-Term Care Centres
• Pharmacies
• Other End Users

Global Patient Safety and Risk Management Software Market: By Region

• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• North America
  • USA
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Latin America, Middle East & Africa
  • Brazil
  • South Africa
  • UAE
  • Rest of LAMEA