Patient Safety and Risk Management Software Market Analysis by Type, by Deployment Mode by End user, and by Region - Global Forecast to 2029

The patient safety and risk management software market size is estimated to be USD 1.8 billion in 2021 and is expected to witness a CAGR of 13.12% during the forecast period 2022-2029. The growing need to reduce healthcare costs, rising rates of medical errors and hospital-acquired infections, and expanding government programmes to improve patient safety and outcomes contributing to the market growth. However, lack of in-house IT knowledge and healthcare providers' unwillingness to implement new patient safety and risk management strategies are expected to hinder the growth.

By Type

Based on type, the market is bifurcated into claims management solutions and risk management & safety solutions. In 2021, the claims management solutions and risk management segment accounted for the highest revenue share due to the efficient application of GRC solutions and the rising incidence of patients' unpleasant occurrences worldwide.

By Deployment Mode

On the basis of deployment mode, the market is bifurcated into public cloud and private cloud. In 2021, the private cloud segment accounted for the highest revenue share owing to the increasing use of a mobility workforce, the growing worries about data security and catastrophe recovery, and rising bring your own device (BYOD) trend.

By End user

Based on end user, the market is segregated into ambulatory care centres, hospitals, pharmacies, long-term care centers, and others. In 2021, the ambulatory care centres segment accounted for the highest revenue share due to the growing requirement to reduce the risk of patient harm and the increasing adoption of patient safety and risk management software in order to manage patient safety incidents effectively.

Regional Markets

In 2021, North America region accounted for the highest patient safety and risk management software market and is expected to maintain its dominance during the forecast period. This is attributed to the growing patient population in this region, fast return on investment (ROI), and increasing government measures to improve patient safety and outcomes in healthcare. Furthermore, presence of key players and development in healthcare infrastructure are expected to provide significant market growth.

Competitor Insights

Some of the key players operating in the patient safety and risk management software market are Clarity Group Inc. (US), Conduent Inc. (US), Prista Corporation (US), Quantros Inc. (US), Riskonnect Inc. (US), RiskQual Technologies (US), RLDatix (Canada), Smartgate Solutions Ltd. (UK), The Patient Safety Company (Netherlands), and Verge Health (US).

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including type, deployment mode, and end user from 2021 to 2029.

Segmentation: Patient Safety and Risk Management Software Market Report 2021-2029

By Type (Revenue, USD Billion)

• Claims Management Solutions
• Risk Management & Safety Solutions

By Deployment Mode (Revenue, USD Billion)

• Public Cloud
• Private Cloud

By End user (Revenue, USD Billion)

• Ambulatory Care Centres
• Hospitals
• Pharmacies
• Long-term Care Centers
• Others

By Region (Revenue, USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC

Latin America

• Brazil
• Mexico
• Argentina
• Rest of LATAM

Middle East & Africa

• South Africa
• GCC
• Rest of MEA