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Advanced Analytics and Integrated Sensors Transforming the US and Western European Next-Gen Patient Safety Solutions Market

  • ID: 5238487
  • Report
  • December 2020
  • Region: United States, Europe
  • 241 Pages
  • Frost & Sullivan
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Growth Strategies Driven by Increasingly Advanced and Integrated Tools

FEATURED COMPANIES

  • 410 Medical, Inc.
  • Cortical Dynamics Ltd.
  • Epic Systems Corp.
  • Inotec AMD Ltd.
  • Potrero Medical
  • Telmediq
  • MORE

Patient safety is the cornerstone of high-quality healthcare and depends upon procedures linked to the detection, prevention, reduction, documentation, and evaluation of errors that otherwise can lead to adverse events, both preventable and non-preventable. Beyond the high volume or morbidity and mortality associated with patient safety adverse events, a significant cost burden is imposed on national healthcare systems. As a result, hospitals and healthcare settings in the United States and the 5 Western European countries analyzed in this study (i.e., UK, France, Germany, Spain, and Italy) are implementing advanced solutions to address the different types of adverse events associated with patient safety (injuries, errors, accidents, and infections). Moreover, medical technology (MedTech) companies, hospital information technology (HIT) companies, and even leading players from other industries continuously undertake R&D efforts to introduce innovative technologies and solutions designed to reduce or eliminate patient harm.

Several patient safety solutions exist in the market, but with great technical complexity and massive volumes of data, medical error trends are increasing like never before. Errors committed by healthcare staff, including clinicians, can range from improperly updating electronic health record (EHR) data and misspelling medication names to performing the wrong surgical procedure on a patient. Also, the impact of COVID-19 has not only increased the occurrence of these events but introduced new infection risks. The entire range of patient safety errors that involve medical errors, pressure ulcers, sepsis, and healthcare-acquired infections (HCAIs) are mostly preventable unless the patient’s condition becomes critical.

Next-gen patient safety solutions introduce artificial intelligence, predictive analytics, machine learning, deep learning, natural language understanding, and other emerging technologies to address adverse events in a more effective way, leading to impactful decision-making by clinicians, reduced morbidity and mortality rates, decreased cost burden, and high-tech solutions that take patient safety to new heights. Among the top goals of companies’ next-gen solutions is the detection of adverse events at an early stage, even before the occurrence, to prevent them and reduce or eliminate clinician/nurse burnout, which is enabled by increased automation, accuracy, ease of operation, speed, and cost-effectiveness (in most cases).

In this study, the publisher has categorized next-gen patient safety solutions into three types: IT-based, medical device-based, and process-based. We have studied the three major care settings of hospitals, primary care, and long-term care. As the US and Western European healthcare industries are witnessing the shift from fee-for-service to outcome-driven value-based care, the focus is now on providing quality care and patient satisfaction to ensure patient safety. Increased risks of infection, communication gaps, diagnostic errors, lack of early detection solutions, reimbursement policies by the US Centers for Medicare and Medicaid Services (CMS) and the UK National Health Service (NHS), and implementation of emerging technologies are among the drivers boosting the introduction and adoption of next-gen patient safety solutions.

Key Issues Addressed

  • How is the next-gen patient safety solutions market segmented?
  • How are the different solutions categorized?
  • What are the different innovative technologies implemented? What are the technologies to be used in upcoming solutions?
  • How are next-gen solutions winning over existing gold-standard solutions in the patient safety solutions market?
  • What are the revenue forecasts for the solutions and technology types?
  • Who are the key innovative participants in this market?
  • What recent partnerships/M&As have taken place in this space?
  • How has the COVID-19 pandemic impacted the next-gen patient safety solutions market?
  • What are the key growth opportunities in this market?
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • 410 Medical, Inc.
  • Cortical Dynamics Ltd.
  • Epic Systems Corp.
  • Inotec AMD Ltd.
  • Potrero Medical
  • Telmediq
  • MORE

1. Strategic Imperatives

  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8
  • The Impact of the Top 3 Strategic Imperatives on the Next-gen Solutions for Patient Safety Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine

2. Executive Summary

  • What Are Next-gen Solutions for Patient Safety Event (PSE)?
  • Snapshot of Next-gen Solution Types Studied in the PSE Segments
  • Next-gen Technology Adoption across Care Settings
  • The Transformation to Next-gen Solutions for Patient Safety - Technologies, US and W. Europe, 2019-2025
  • Technology Maturity Plotting of Next-gen Patient Safety Solutions - Medical Errors
  • Technology Maturity Plotting of Next-gen Patient Safety Solutions - PU/PIs, Sepsis, HCAIs

3. Market Background

  • Important Definitions for the Study
  • The Three Basic Solution Types
  • Patient Safety Solution Providers Landscape

4. Global Overview - Patient Safety

  • Global PSE Scenario
  • Frequency of PSEs - Global
  • Cost Burden Analysis of Patient Safety Events - Global
  • Financial Impact of Patient Safety Failure on Care Settings - Global

5. PSE Scenario - US and W. Europe

  • Healthcare Patient Safety Events Scenario - US
  • Healthcare Patient Safety Events Statistics with Presence across Care Settings - US
  • Cost Analysis of Healthcare Patient Safety Events - W. Europe
  • Healthcare PSEs’ Occurrence across Countries by Types - W. Europe
  • Healthcare Patient Safety Events Statistics with Presence across Care Settings - W. Europe

6. Revenue Forecast

  • Scope of Analysis
  • Key Growth Metrics for Next-gen Solutions for Patient Safety
  • Classifications and Definitions of Patient Safety Events
  • Occurrence of Healthcare PSEs across Care Settings
  • Patient Safety Events Segmentation
  • List of Next-gen Solutions in Different Patient Safety Segments
  • Growth Drivers for Next-gen Solutions Transforming Patient Safety
  • Growth Restraints for Next-gen Solutions Transforming Patient Safety
  • Forecast Assumptions - Next-gen Patient Safety Solutions
  • Revenue Forecast, Next-gen Patient Safety Solutions Market
  • Revenue Forecast Analysis - The Total Next-gen Patient Safety Solutions Market
  • Revenue Forecast by Technology, Next-gen Patient Safety Solutions Market, US
  • Revenue Forecast by Technology, Next-gen Patient Safety Solutions Market, W. Europe
  • Revenue Forecast Analysis by Region, 2019-2025
  • Competitive Environment and Next-gen Solutions in Patient Safety Market

7. Medical Errors

  • Key Growth Metrics for Next-gen Solutions for Medical Errors
  • What are Medical Errors (MEs)?
  • ME Types, Definitions, and Examples
  • Root Causes Leading to MEs
  • MEs Scenario Analysis - The US
  • MEs Scenario Analysis - W. Europe
  • Revenue Forecast, Medical Errors Solutions Market
  • Revenue Forecast by Technology, Medical Errors Solutions Market, US
  • Revenue Forecast by Technology, Medical Errors Solutions Market, W. Europe

8. Medical Errors - Surgical Errors Management

  • Surgical Errors Scenario Analysis - The US and the UK
  • Factors Leading to Surgical Errors
  • Preventive Measures for Surgical Errors
  • Drawbacks of Existing Solutions Addressing Surgical Errors
  • List of Solutions Addressing Surgical Errors - Gold Standard and Next-gen Solutions
  • Summary of Next-gen Solutions Addressing Surgical Errors
  • Technology Maturity Curve - Surgical Errors Management
  • Profile - SafeStart Medical: SafeStart Software
  • Profile - Surgical Safety Technologies (SST): OR Black Box Platform
  • Profile - Masimo: Next Generation SedLine Brain Function Monitoring
  • Profile - Cortical Dynamics Ltd.: BAR Monitor
  • Upcoming Solutions - OR Voice Interaction Systems for the Future
  • Collaborations and Acquisitions - Surgical Errors
  • Assumptions for Forecasting - Next-gen Surgical Solutions, 2019-2025
  • Revenue Forecast, Next-gen Surgical Solutions Market
  • Revenue Forecast by Technology, Next-gen Surgical Solutions Market, US
  • Revenue Forecast by Technology, Next-gen Surgical Solutions Market, W. Europe
  • Revenue Forecast Analysis - Next-gen Surgical Solutions Market, 2019-2025

9. Medical Errors - Communication Errors Management

  • Communication Errors Scenario Analysis - The US and the UK
  • Factors Leading to Communication Errors
  • Preventive Measures for Communication Errors
  • Drawbacks of Existing Solutions Addressing Communications Errors
  • List of Solutions Addressing Communication Errors - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions Addressing Communication Errors
  • Technology Maturity Curve - Communications Errors Management
  • Profile - Surescripts: Sentinel
  • Profile - Telmediq: Near-Field Communication (NFC)-based Clinical Communication and Collaboration Platform
  • Collaborations and Acquisitions - Communication Solutions
  • Assumptions for Forecasting - Next-gen Communication Solutions, 2019-2025
  • Revenue Forecast, Next-gen Communication Solutions Market
  • Revenue Forecast by Technology, Next-gen Communication Solutions Market, US
  • Revenue Forecast by Technology, Next-gen Communication Solutions Market, W. Europe
  • Revenue Forecast Analysis - Next-gen Communication Solutions Market, 2019-2025

10. Medical Errors - Diagnostic Errors Management

  • Diagnostic Errors Scenario Analysis
  • Factors Leading to Diagnostic Errors
  • Preventive Measures for Diagnostic Errors
  • Drawbacks of Existing Solutions Addressing Diagnostic Errors
  • List of Solutions Addressing Diagnostic Errors - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions Addressing Diagnostic Errors
  • Technology Maturity Curve - Diagnostic Errors Management
  • Profile - Edwards Lifesciences: HemoSphere with Acumen Hypotension Prediction Index (HPI)
  • Profile - Pascal Metrics, Inc.: Risk Trigger Monitoring Software
  • Profile - Epic Systems Corp.: AI-enabled EHR
  • Profile - GE Healthcare: Edison Platform
  • Collaborations and Acquisitions - Upcoming Diagnostic Solutions
  • Assumptions for Forecasting - Next-gen Diagnostic Solutions, 2019 - 2025
  • Revenue Forecast, Next-gen Diagnostic Solutions Market
  • Revenue Forecast by Technology, Next-gen Diagnostic Solutions Market, US
  • Revenue Forecast by Technology, Next-gen Diagnostic Solutions Market, W. Europe
  • Revenue Forecast Analysis - Next-gen Diagnostic Solutions Market, 2019-2025

11. Medical Errors - Medication Errors Management

  • Medication Errors Scenario Analysis - The US and the UK
  • Factors Leading to Medication Errors
  • Preventive Measures for Medication Errors
  • Drawbacks of Existing Solutions Addressing Medication Errors
  • List of Solutions Addressing MDEs - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions Addressing Medication Errors
  • Technology Maturity Curve - Medication Errors Management Solutions
  • Profile - Amazon Web Services (AWS): Transcribe Medical
  • Profile - TheraNest: e-Prescribe System
  • Collaborations and Acquisitions - Medication Solutions
  • Assumptions for Forecasting - Next-gen Medication Solutions, 2019-2025
  • Revenue Forecast, Next-gen Medication Errors Solutions
  • Revenue Forecast by Technology, Next-gen Medication Errors Solutions Market, US
  • Revenue Forecast by Technology, Next-gen Medication Errors Solutions Market, E. Europe
  • Revenue Forecast Analysis - Next-gen Medication Solutions Market, 2019-2025

12. Pressure Ulcers/Pressure Injuries (PU/PI) - Prevention and Management

  • Key Growth Metrics for Next-gen PU/PI Solutions
  • PU/PI Scenario Analysis - The US and the UK
  • Definition and Facts on PU/PI
  • Factors Leading to PU/PI
  • Preventive Measures for PU/PI
  • Drawbacks of Existing Solutions Addressing PU/PI
  • List of Solutions Addressing PU/PI - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions for PU/PI Management
  • Technology Maturity Curve - Pressure Ulcer Management
  • Profile - WoundVision: Scout
  • Profile - Hill-Rom Services, Inc. and EarlySense: Centrella Smart + Bed Platform
  • Profile - Encompass Group, LLC: Airisana Therapeutic Support System
  • Profile - Bruin Biometrics, LLC. (BBI): Provizio SEM Scanner
  • Profile - InPRO Medical (InPro): Smart Hospital Garments
  • Profile - Reapplix: 3C Patch System
  • Profile - Inotec AMD Ltd.: NATROX Oxygen Wound Therapy (NATROX)
  • Profile - Cardinal Health, Inc.: SVED Device
  • Upcoming Solution - PU/PI Sensing and Healing Solution for the Future
  • Assumptions for Forecasting - Next-gen PU/PI Prevention and Management Market, 2019-2025
  • Revenue Forecast Next-gen Solutions for PU Detection, Prevention and Management
  • Revenue Forecast by Technology, Next-gen Solutions for PU Detection, Prevention, and Management, US
  • Revenue Forecast by Technology, Next-gen Solutions for PU Detection, Prevention, and Management, W. Europe
  • Revenue Forecast Analysis - Next-gen PU/PI Prevention and Management Market, 2019-2025
  • Sepsis Management
  • Key Growth Metrics for Next-gen Sepsis Solutions

13. Sepsis Scenario Analysis - The US and the UK

  • Factors Leading to Sepsis
  • Treatment for Sepsis
  • Drawbacks of Existing Solutions Addressing Sepsis
  • List of Solutions for Sepsis Management - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions for Sepsis Management
  • Technology Maturity Curve - Sepsis Management
  • Profile - Ambient Clinical Analytics: Aware Sepsis DART
  • Profile - ExThera Medical Corp.: Seraph 100 Microbind Affinity Blood Filter
  • Profile - Potrero Medical: Accuryn Monitoring System
  • Profile - Cheetah Medical, Inc. (now Baxter): Starling SV
  • Collaborations and Acquisitions: Sepsis Management
  • Sepsis Management Solutions for the Future
  • Assumptions for Forecasting - Next-gen Sepsis Management Solutions, 2019-2025
  • Revenue Forecast, Next-gen Solutions for Sepsis Management
  • Revenue Forecast by Technology, Next-gen Solutions for Sepsis Management, US
  • Revenue Forecast by Technology, Next-gen Solutions for Sepsis Management, W. Europe
  • Revenue Forecast Analysis - Next-gen Sepsis Management Market, 2019-2025

14. HCAI Management

  • Key Growth Metrics for Next-gen HCAI Solutions
  • HCAI Scenario Analysis - US and UK
  • Definition and Facts on HCAIs
  • Factors Leading to HCAIs
  • Preventive Measures for HCAIs
  • Drawbacks of Existing Solutions Addressing HCAIs
  • List of Solutions Addressing HCAIs - Gold Standard and Next-gen Solutions
  • Summary of Companies and Next-gen Solutions for HCAIs Management
  • Next-gen Technologies Plotted on the Technology Maturity Curve - HCAI Management
  • Profile - VigiLanz Corporation: The VigiLanz Platform
  • Profile - CenTrak: CenTrak Enterprise Location Services
  • Profile - Xenex Disinfection Services LLC: LightStrike Germ-Zapping Robots
  • Profile - 410 Medical, Inc.: LifeFlow Rapid Infuser
  • Assumptions for Forecasting - Next-gen HCAI Management Solutions, 2019-2025
  • Revenue Forecast, Next-gen Solutions for HCAI Management
  • Revenue Forecast by Technology, Next-gen Solutions for HCAI Management, US
  • Revenue Forecast by Technology, Next-gen Solutions for HCAI Management, W. Europe
  • Revenue Forecast Analysis - Next-gen HCAI Solutions Market, 2019-2025

15. COVID-19 Impact on Patient Safety

  • Adverse Events in the Pandemic
  • Safety Practices and Systems for Healthcare Workers Amid COVID-19

16. Automation in Patient Safety

  • Analysis of Automation in Patient Safety
  • Detailed Analysis of Automated Dispensing Cabinets (ADC) - Gold Standard and Next-gen Solutions

17. Growth Opportunity Universe, Next-gen Patient Safety Solutions Market

  • Growth Opportunity 1 - Early Detection of Adverse Events to Prevent Progression and Readmission or PU/PI and Sepsis, 2020
  • Growth Opportunity 2 - AI to Be the Next-gen Technology for Patient Safety Solutions in Addressing Medical Errors, 2020
  • Growth Opportunity 3 - Connected Wearables/Insoles/Textiles for PU/PI Patient Monitoring, 2020
  • Growth Opportunity 4 - Government Revised Reimbursement Policies on PU/PI and HCAIs Create Opportunity for Healthcare Companies, 2020
  • Growth Opportunity 5 - RTLS or Similar Technologies Used for Contact Tracing in Healthcare Facilities Witness Increasing Demand to Limit the Spread of Infection, 2020
  • Growth Opportunity 6 - Extracorporeal Therapies to Fight Bloodstream Infection, such as Sepsis, and COVID-19, 2020

18. Next Steps

  • Your Next Steps
  • Why Now?
  • List of Exhibits
  • Legal Disclaimer
Note: Product cover images may vary from those shown
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  • 410 Medical, Inc.
  • Amazon Web Services (AWS)
  • Ambient Clinical Analytics
  • Bruin Biometrics, LLC. (BBI)
  • Cardinal Health, Inc.
  • CenTrak
  • Cheetah Medical, Inc. (now Baxter)
  • Cortical Dynamics Ltd.
  • EarlySense
  • Edwards Lifesciences
  • Encompass Group, LLC
  • Epic Systems Corp.
  • ExThera Medical Corp.
  • GE Healthcare
  • Hill-Rom Services, Inc.
  • Inotec AMD Ltd.
  • InPRO Medical (InPro)
  • Masimo
  • Pascal Metrics, Inc.
  • Potrero Medical
  • Reapplix
  • SafeStart Medical
  • Surescripts
  • Surgical Safety Technologies (SST)
  • Telmediq
  • TheraNest
  • VigiLanz Corporation
  • WoundVision
  • Xenex Disinfection Services LLC
Note: Product cover images may vary from those shown
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