Northrook, IL -- (SBWIRE) -- 04/17/2020 -- The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Patient Safety and Risk Management Software Market. We are working diligently to help companies take rapid decisions by studying:

+ The impact of COVID-19 on the Patient Safety and Risk Management Software Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market.
+ The rapid shifts in the strategies of the Top 50 companies in the Patient Safety and Risk Management Software Market.
+ The shifting short-term priorities of the top 50 companies' clients and their client's clients.

You can request an in-depth analysis detailing the impact of COVID-19 on the Patient Safety and Risk Management Software Market: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=231628922

According to the new market research report "Patient Safety and Risk Management Software Market by Type (Risk Management, Governance, Risk & Compliance, Claims Management), Deployment Mode (Cloud, Public, Private), End-User (Hospital, Ambulatory Care, Pharmacy), Region - Global Forecasts to 2024 ", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

The rising need to reduce increasing healthcare costs and the implementation of government initiatives to improve patient safety & patient outcomes are the major factors driving the growth of this market.

"The risk management & safety solutions segment is expected to dominate the market in 2019."

Based on type, the Patient Safety and Risk Management Solutions Market is segmented into risk management & safety solutions, claims management solutions, and governance, risk & compliance solutions. The risk management and safety solutions segment is expected to account for the largest share in 2019.

The large share of this segment can be attributed to the high adoption of these solutions as they help providers to streamline workflows and remove most of the administrative tasks associated with adverse events, resulting in additional time for patient care and quality improvement.

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"By end-user, the healthcare payers segment is expected to grow at the highest CAGR during the forecast period."

Based on end-user, the Patient Safety and Risk Management Solutions Market has been segmented into hospitals, long-term care centers, ambulatory care centers, pharmacies, and other end-users (primary care providers, ambulance services, pathology laboratories, and mental healthcare centers. The ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period.

The rising need to minimize delayed diagnoses, reduce healthcare associated infections, and ensure mediation safety is expected to drive the growth of the ambulatory care centers segment.

"North America to hold the largest regional market share in 2019."

North America is expected to account for the largest share of the patient safety and risk management software market in 2019, followed by Europe. The large share of North America can be attributed to the favorable regulations (such as Patient Safety Act and Patient Protection and Affordable Care Act) combined with the high healthcare IT spending in the region, and greater adoption of patient safety and risk management solutions.

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Leading Companies

The prominent players in this market are RLDatix (Canada), Verge Health (US), Riskonnect Inc. (US), Clarity Group Inc. (US), RiskQual Technologies (US), The Patient Safety Company (Netherlands), Quantros Inc. (US), Prista Corporation (US), Smartgate Solutions Ltd. (UK), and Conduent Inc. (US).