Market Overview:
The global patient safety and risk (PSR) management solutions market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing incidence of hospital-acquired infections (HAIs), rising demand for patient safety solutions, and growing awareness about PSR management solutions among healthcare providers. The PSR management solutions market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into risk management, governance, risk & compliance (GRC), and claims management. The GRC segment accounted for the largest share in 2017 owing to its ability to manage all aspects of PSR across an organization. On the basis of application, the market is divided into hospitals, ambulatory care facilities (ACFs), and pharmacies.
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Product Definition:
There is no single, universally accepted definition of patient safety and risk (PSR) management solutions. However, most definitions agree that PSR management solutions are a set of tools or methods used to identify, assess and manage risks to the safety of patients. The importance of PSR management solutions cannot be overstated. By identifying and mitigating potential risks to patient safety, healthcare organizations can help ensure that patients receive the highest quality care possible.
Risk Management:
Risk management solutions are used to identify, analyze and monitor risks associated with patient safety. The factors that propel market growth include the growing need for risk management in healthcare organizations, increasing government regulations pertaining to patient safety and the availability of cost-effective software solutions.
The global risk management market was valued at USD 2.6 billion in 2015.
Governance:
Governance and its usage in Patient Safety and Risk (PSR) Management Solutions market is expected to grow at a lucrative rate during the forecast period. The growth of this market can be attributed to factors such as increasing government initiatives, rising healthcare IT adoption, growing need for risk management solutions among healthcare providers & payers coupled with increasing pressure from regulatory bodies on hospitals & other organizations. For instance, the Affordable Care Act or Healthcare Act requires all U.
Application Insights:
The hospital segment dominated the global patient safety and risk (PSR) management solutions market in 2017. The growing volume of healthcare services, coupled with increasing awareness about PSR, is expected to drive the demand for these solutions over the forecast period. Furthermore, an increase in investments by governments and private players for developing infrastructure that improves care quality is anticipated to further fuel growth over the next eight years.
Ambulatory care centers accounted for a significant share of revenue in 2017 owing to factors such as rising incidences of chronic diseases such as heart diseases, cancer cases among others which require regular checkups and treatment at home without admission into hospitals. Moreover, ambulatory care centers provide primary health services along with mental health services which requires constant monitoring and tracking of patients¢â‚¬â„¢ condition through online systems that can be accessed from anywhere across globe thereby driving demand over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the implementation of advanced technologies for patient safety and effective management of healthcare risks. Furthermore, a rise in chronic diseases that require regular medication is expected to drive demand for patient safety solutions in North America over the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to factors such as improving healthcare infrastructure and growing medical tourism industry, which will lead patients from across the globe. Moreover, an increase in awareness regarding PSR management solutions among hospitals will also propel regional market growth during the same period.
Growth Factors:
- Increasing demand for patient safety and risk management solutions from healthcare providers to mitigate risks and improve patient care
- Rising incidence of hospital-acquired infections (HAIs) and other medical errors that can be mitigated with the help of PSR management solutions
- Proliferation of big data and analytics, which can help healthcare providers identify risk trends and better manage patients' safety
- Growing number of compliance regulations for hospitals, including The Joint Commission's National Patient Safety Goals (NPSG), that mandate the use of PSR management solutions
- Advances in technology that are making PSR management solutions more efficient, scalable, and user-friendly
Scope Of The Report
Report Attributes
Report Details
Report Title
Patient Safety and Risk (PSR) Management Solutions Market Research Report
By Type
Risk Management, Governance, Risk & Compliance, Claims Management
By Application
Hospital, Ambulatory Care, Pharmacy
By Companies
RLDatix, Verge Health, Riskonnect Inc., Clarity Group Inc., RiskQual Technologies, The Patient Safety Company, Quantros Inc., Prista Corporation, Smartgate Solutions Ltd., Conduent Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
222
Number of Tables & Figures
156
Customization Available
Yes, the report can be customized as per your need.
Global Patient Safety and Risk (PSR) Management Solutions Market Report Segments:
The global Patient Safety and Risk (PSR) Management Solutions market is segmented on the basis of:
Types
Risk Management, Governance, Risk & Compliance, Claims Management
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Ambulatory Care, Pharmacy
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- RLDatix
- Verge Health
- Riskonnect Inc.
- Clarity Group Inc.
- RiskQual Technologies
- The Patient Safety Company
- Quantros Inc.
- Prista Corporation
- Smartgate Solutions Ltd.
- Conduent Inc.
 Management Solutions Market Overview.svg)
Highlights of The Patient Safety and Risk (PSR) Management Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Risk Management
- Governance
- Risk & Compliance
- Claims Management
- By Application:
- Hospital
- Ambulatory Care
- Pharmacy
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Patient Safety and Risk (PSR) Management Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Patient safety and risk (PSR) management solutions are a suite of technologies, processes, and practices that help organizations identify, assess, mitigate, and manage risks to patients. PSR solutions can include risk assessment tools; incident response plans; communication protocols; patient safety data collection systems; and training programs for staff members.
Some of the major companies in the patient safety and risk (psr) management solutions market are RLDatix, Verge Health, Riskonnect Inc., Clarity Group Inc., RiskQual Technologies, The Patient Safety Company, Quantros Inc., Prista Corporation, Smartgate Solutions Ltd., Conduent Inc..
The patient safety and risk (psr) management solutions market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Patient Safety and Risk (PSR) Management Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Patient Safety and Risk (PSR) Management Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Patient Safety and Risk (PSR) Management Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Patient Safety and Risk (PSR) Management Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Patient Safety and Risk (PSR) Management Solutions Market Size & Forecast, 2018-2028
4.5.1 Patient Safety and Risk (PSR) Management Solutions Market Size and Y-o-Y Growth
4.5.2 Patient Safety and Risk (PSR) Management Solutions Market Absolute $ Opportunity
Chapter 5 Global Patient Safety and Risk (PSR) Management Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
5.2.1 Risk Management
5.2.2 Governance
5.2.3 Risk & Compliance
5.2.4 Claims Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Patient Safety and Risk (PSR) Management Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Ambulatory Care
6.2.3 Pharmacy
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Patient Safety and Risk (PSR) Management Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Patient Safety and Risk (PSR) Management Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
9.6.1 Risk Management
9.6.2 Governance
9.6.3 Risk & Compliance
9.6.4 Claims Management
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Ambulatory Care
9.10.3 Pharmacy
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Patient Safety and Risk (PSR) Management Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
10.6.1 Risk Management
10.6.2 Governance
10.6.3 Risk & Compliance
10.6.4 Claims Management
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Ambulatory Care
10.10.3 Pharmacy
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Patient Safety and Risk (PSR) Management Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
11.6.1 Risk Management
11.6.2 Governance
11.6.3 Risk & Compliance
11.6.4 Claims Management
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Ambulatory Care
11.10.3 Pharmacy
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Patient Safety and Risk (PSR) Management Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
12.6.1 Risk Management
12.6.2 Governance
12.6.3 Risk & Compliance
12.6.4 Claims Management
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Ambulatory Care
12.10.3 Pharmacy
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Patient Safety and Risk (PSR) Management Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Type
13.6.1 Risk Management
13.6.2 Governance
13.6.3 Risk & Compliance
13.6.4 Claims Management
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Patient Safety and Risk (PSR) Management Solutions Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Ambulatory Care
13.10.3 Pharmacy
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Patient Safety and Risk (PSR) Management Solutions Market: Competitive Dashboard
14.2 Global Patient Safety and Risk (PSR) Management Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 RLDatix
14.3.2 Verge Health
14.3.3 Riskonnect Inc.
14.3.4 Clarity Group Inc.
14.3.5 RiskQual Technologies
14.3.6 The Patient Safety Company
14.3.7 Quantros Inc.
14.3.8 Prista Corporation
14.3.9 Smartgate Solutions Ltd.
14.3.10 Conduent Inc.
