Patient Safety and Risk Management Software: Global Strategic Business Report

Global Patient Safety and Risk Management Software Market to Reach $3.1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Patient Safety and Risk Management Software estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$3.1 Billion by 2027, growing at a CAGR of 9% over the analysis period 2020-2027. Risk Management & Safety Solutions, one of the segments analyzed in the report, is projected to record a 8.9% CAGR and reach US$2.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Governance, Risk & Compliance Solutions segment is readjusted to a revised 10.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $456.1 Million, While China is Forecast to Grow at 12.5% CAGR

The Patient Safety and Risk Management Software market in the U.S. is estimated at US$456.1 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$641.5 Million by the year 2027 trailing a CAGR of 12.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 7.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$436.7 Million by the year 2027.

Claims Management Software Segment to Record 8% CAGR

In the global Claims Management Software segment, USA, Canada, Japan, China and Europe will drive the 8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$163.8 Million in the year 2020 will reach a projected size of US$268.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 9.4% CAGR through the analysis period.

Select Competitors (Total 36 Featured) -

• CareFusion Corporation
• Clarity Group Inc.
• Conduent Inc.
• Datix Limited
• Health Catalyst
• MetricStream, Inc.
• MRM Group LLC
• Prista Corporation
• Quantros Inc.
• Riskonnect Inc.
• RiskQual Technologies
• RL Solutions
• RLDatix
• Salus Global Corporation
• Smartgate Solutions Ltd.
• The Patient Safety Company
• Verge Health

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