Global Healthcare Safety and Risk Management Solutions Market

Global Healthcare Safety and Risk Management Solutions Market Size, Trends & Analysis - Forecasts to 2026 By Solution (Software, Services), By Deployment (Cloud, On-Premises), By End-Use (Hospitals, Mental Healthcare Facilities, Skilled Nursing Facilities (SNFs), Others), By Region (North America, Europe, Asia Pacific, MEA, CSA); End User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis

Category Healthcare

Format

This report was recently updated on April 18 2024 with the latest and most recent market numbers

Healthcare Safety and Risk Management Solutions Market: Insights

The global healthcare safety and risk management solutions market is expected to generate revenue amounting to USD 1.44 billion in 2020, and is projected to reach to USD 2.72 billion by 2026, growing at a CAGR of 11.10% over the forecast period. The rising healthcare costs, increasing incidences of medical errors & hospital-acquired infections, and growing government initiatives to improve patient safety are some of the major factors expected to propel the market growth during the forecast period. Advancements in IT systems and healthcare technologies is also fueling the growth of the digital healthcare IT solutions.

Growing need for mobile health technology and development of new generation of healthcare systems and IT solutions are propelling the market growth. Rise in need to follow regulatory guidelines, and growing adoption of cloud-based healthcare IT solutions are also driving the market growth for risk management solutions in healthcare sector. The rising prominence and usage of big data analytics for patient safety across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of healthcare safety and risk management solutions. However, security and privacy issues and lack of skilled IT professionals are likely to hamper the market growth over the coming years.

Healthcare Safety and Risk Management Solutions Market Size: By Segmentation

The global healthcare safety and risk management solutions market is segmented on the basis of solution into software and solutions. The software segment is further segmented into healthcare risk & compliance management, healthcare incident management, and healthcare audit management among others. The services segment is sub segmented into professional services, and managed services. The software segment is expected to hold the largest market share in the global healthcare safety and risk management solutions market during the forecast period. The increasing number of adverse events to patients across the globe and the effective utilization of governance, risk, & compliance (GRC) solutions is driving the market growth for software segment. Healthcare risk & compliance management solutions provide safe, high-quality care to patients while maintaining compliance with industry standards and regulations.

On the basis of deployment, the global healthcare safety and risk management solutions market is segmented into on-premises and cloud. The on-premises segment is expected to hold the largest market share in the global healthcare safety and risk management solutions market during the forecast period. On-premises deployment mode offers high speed, scalability, flexibility, and security among others, which in turn is driving the market growth. On-premise solution offers total control over the software as all the data is stored internally and the data is more secured compared to cloud deployment. The cloud based segment is expected to grow at a high CAGR during the forecast period. Cloud based systems make better use of technology and enable the sharing of infrastructure among end users. Cloud based deployment offers greater level of scalability, reducing the ongoing cost of implementation and continual development. These are some of the major benefits expected to drive the adoption of cloud video surveillance storage across verticals.

On the basis of end users, the market is segmented into hospitals, mental healthcare facilities, skilled and nursing facilities among others. The hospitals segment is expected to hold the largest market share in the global healthcare safety and risk management solutions market during the forecast period. The rising need to minimize the risk associated with patient harm along with implementation of patient safety are driving the market growth for hospital segment.

Healthcare Safety and Risk Management Solutions Market Size: By Region

On the basis of region, the market of healthcare safety and risk management solutions is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to hold the largest market share in the global healthcare safety and risk management solutions during the forecast period. The presence of key players including Clarity Group Inc., Conduent Inc, Prista Corporation, Quantros Inc, Riskonnect Inc, RiskQual Technologies, and RLDatix among others in the region is driving the market growth. The Asia Pacific region is expected to expand at a rapid pace during the forecast period. The increasing patient population, rapid return on investment (ROI), and rising government initiatives to improve the patient safety & patient outcomes in healthcare are driving the market growth in the region.

Healthcare Safety and Risk Management Solutions Market Share & Competitor Analysis

Some of the key players operating in the healthcare safety and risk management solutions market are LogicManager, Inc., RiskWatch, Riskonnect, Inc., Quantros, The Patient Safety Company, Healthicity LLC, RLDatix, Riskqual Technologies, PowerHealth Solutions, Verge Solutions, LLC, Prista Corporation, Conduent Inc., Clarity Group, Inc., and Ideagen Plc, among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In June 2019, Riskonnect Inc. launched Riskonnect ClearSight 19.0, an addition to its integrated risk management platform.

In May 2019, RLDatix acquired iContracts (U.S.) that provided more significant opportunities to RLDatix.

In February 2019, Verge Health entered into a partnership with the Texas Hospital Association (U.S.) to strengthen its governance, risk, & compliance platform.

In October 2018, Riskonnect, Inc. acquired Marsh ClearSight LLC (U.S.) to expand its product offerings.

In August 2017, Conduent Inc. (U.S.) launched the Midas Hospital Risk Adjustment Model.

Check the Press Release on Global Healthcare Safety and Risk Management Solutions Market Report

Healthcare Safety and Risk Management Solutions Market: By Solution

Introduction
1. Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
Services
1. Services: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  1. Professional Services: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  2. Managed Services: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
Software
1. Software: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  1. Healthcare Risk & Compliance Management: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  2. Healthcare Incident Management: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  3. Healthcare Audit Management: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
  4. Others: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)

Healthcare Safety and Risk Management Solutions Market: By Deployment

Introduction
1. Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
Cloud
1. Cloud: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
On-Premises
1. On-Premises: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)

Healthcare Safety and Risk Management Solutions Market: By End-Use

Introduction
1. Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
Hospitals
1. Hospitals: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
Mental Healthcare Facilities
1. Mental Healthcare Facilities: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
Skilled Nursing Facilities (SNFs)
1. Skilled Nursing Facilities (SNFs): Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)
Others
1. Others: Healthcare Safety and Risk Management Solutions Market, 2020-2026 (USD Million)

Healthcare Safety and Risk Management Solutions Market: By Region

Introduction
1. Global Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
North America
1. North America Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
  1. By Solution
    1. North America Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
  2. By Deployment
    1. North America Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
  3. By End-Use
    1. North America Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
  4. By Country
    1. U.S
      1. By Solution
        
        U.S. Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        U.S. Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        U.S. Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    2. Canada.
      1. By Solution
        
        Canada Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Canada Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Canada Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    3. Mexico
      1. By Solution
        
        Mexico Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Mexico Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Mexico Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
Europe
1. Europe Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
  1. By Solution
    1. Europe Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
  2. By Deployment
    1. Europe Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
  3. By End-Use
    1. Europe Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
  4. By Country
    1. Germany
      1. By Solution
        
        Germany Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Germany Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Germany Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    2. UK
      1. By Solution
        
        UK Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        UK Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        UK Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    3. France
      1. By Solution
        
        France Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        France Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        France Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    4. Italy
      1. By Solution
        
        Italy Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Italy Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Italy Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
Asia Pacific
1. Asia Pacific Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
  1. By Solution
    1. Asia Pacific Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
  2. By Deployment
    1. Asia Pacific Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
  3. By End-Use
    1. Asia Pacific Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
  4. By Country
    1. China
      1. By Solution
        
        China Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        China Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        China Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    2. Japan
      1. By Solution
        
        Japan Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Japan Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Japan Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    3. India
      1. By Solution
        
        India Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        India Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        India Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    4. South Korea
      1. By Solution
        
        South Korea Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        South Korea Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        South Korea Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    5. Rest Of Apac
      1. By Solution
        
        Rest Of Apac, Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Rest Of Apac Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Rest Of Apac Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
Central & South America
1. Central & South America Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
  1. By Solution
    1. Central & South America Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
  2. By Deployment
    1. Central & South America Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
  3. By End-Use
    1. Central & South America Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
  4. By Country
    1. Brazil
      1. By Solution
        
        Brazil Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
      2. By Deployment
        
        Brazil Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
      3. By End-Use
        
        Brazil Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
2. Middle East & Africa
  1. Middle East & Africa Healthcare Safety and Risk Management Solutions Market, Regional Analysis, 2020-2026 (USD Million)
    1. By Solution
      1. Middle East & Africa Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
    2. By Deployment
      1. Middle East & Africa Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
    3. By End-Use
      1. Middle East & Africa Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
    4. By Country
      1. Saudi Arabia
        
        By Solution
        
        Saudi Arabia Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
        
        By Deployment
        
        Saudi Arabia Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
        
        By End-Use
        
        Saudi Arabia Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)
      2. UAE
        
        By Solution
        
        UAE Healthcare Safety and Risk Management Solutions Market, By Solution, 2020-2026 (USD Million)
        
        By Deployment
        
        UAE Healthcare Safety and Risk Management Solutions Market, By Deployment, 2020-2026 (USD Million)
        
        By End-Use
        
        UAE Healthcare Safety and Risk Management Solutions Market, By End-Use, 2020-2026 (USD Million)

The global Healthcare Safety and Risk Management Solutions Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Healthcare Safety and Risk Management Solutions Market.

Healthcare Safety and Risk Management Solutions Market

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Healthcare Safety and Risk Management Solutions Market

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.

Healthcare Safety and Risk Management Solutions Market