Patient Safety and Risk Management Software market is projected to grow significantly.

From GlobeNewswire: 2025-01-24 08:05:00

Patient Safety and Risk Management Software Market valued at USD 2.25 billion in 2023, projected to reach USD 6.07 billion by 2032, with a CAGR of 11.69% from 2024-2032. Demand driven by healthcare standards, regulatory pressures, and technological advancements. Focus on reducing medical errors and ensuring patient safety leading to rapid market growth.

Rise in demand for risk management software to mitigate patient safety issues, improve outcomes, and enhance operational efficiency in healthcare facilities. Increasing adoption of digital healthcare technologies accelerating demand for risk management solutions. Cloud computing and AI-enabled safety tools improving proactive risk management in healthcare settings.

Healthcare organizations investing in Governance, Risk, and Compliance (GRC) solutions to align with regulatory frameworks and improve risk management practices. Market expansion fueled by focus on data privacy, HIPAA compliance, and patient-centered care. Major players include Riskonnect, Origami Risk, RLDatix, Health Catalyst, Conduent, symplr, Clarity Group, BD, RiskQual Technologies, Prista Corporation, Quantros, Smartgate Solutions, The Patient Safety Company, and Verge Health.

In 2023, risk management & safety solutions dominated the market, accounting for 64.2% of the total market share. Governance, risk & compliance solutions segment witnessing fastest growth due to rising complexity of healthcare regulations. Private cloud deployment model captured around 55% market share, driven by enhanced security features and regulatory compliance.

Public cloud deployment model growing rapidly, appealing to smaller healthcare organizations for scalability, flexibility, and cost-effectiveness. Increasing need for real-time risk identification, improved care quality, and compliance with safety protocols driving adoption of risk management software in healthcare settings. Regulatory frameworks becoming more stringent, leading to demand for integrated compliance solutions. The rise of cloud computing is fueling the shift towards cost-effective and flexible cloud-based safety solutions. Patient Safety and Risk Management Software Market segmentation includes different types, deployment modes, and end-users. Recent developments highlight the launch of new safety institutes and top providers in the industry. North America leads the market, with Asia Pacific expected to experience the highest growth. Statistical insights reveal trends like the adoption of AI-powered safety tools and the use of Public Cloud solutions in Europe. For more detailed analysis and reports on the Patient Safety and Risk Management Software Market, visit SNS Insider, a leading market research and consulting agency.



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