Healthcare Quality And Safety Reporting System Market during 2022-2027
The study of market analysis of the Healthcare Quality And Safety Reporting System Market focuses on the key elements and the market dynamics of a specific market within that industry. Healthcare Quality and Safety Reporting System Market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
According to a report by Persistence Market Research (PMR), the global quality and safety reporting systems for healthcare market is expected to expand at 11.8% CAGR during the forecast period- 2017 to 2025. In 2016, the market was evaluated at US$ 842.9 Mn and it is anticipated to surpass US$ 2000 Mn in revenues by 2025-end.
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Quality and safety reporting system, a healthcare IT system, is utilized across health organisations including primary care units, hospitals, and various other healthcare settings, interpreting patient safety and reporting data. This helps in identifying medical errors or adverse events for improvements in safety and quality for patients.
Increasing Number of Medical Recalls Expected to Fuel the Market Growth
Surging number of medical device recalls has resulted into a rise in adoption of quality and safety reporting systems, so as to reduce potential medical errors and keep track of medical device components for managing recalls. In addition, growing incidences of medical errors is further fuelling the demand for quality and safety reporting systems in healthcare organisations. Majority of hospitals do not have patient history results. This lack of information regarding patient history has led to improper treatment of patients. Healthcare organisation are therefore adopting quality and safety reporting systems to avoid such severe errors.
With advancements in healthcare technologies, governments of various emerging countries such as China, Brazil, and India are making significant investments in healthcare sector. Improving economic conditions and surging government spending have resulted in an increase in number of hospitals across these regions. Governments in some of the countries in Asia Pacific (APAC) have approved 100% FDI in healthcare sector. The aforementioned factors are expected to pave growth opportunities for safety and quality reporting system vendors.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Quantros, Inc., The Patient Safety Company, Riskonnect, Inc., Datix Ltd., MRM Group, LLC, PowerHealth Solutions, Episource, LLC, Binary Fountain Inc., Ventiv Technology Inc., ArroHealth (Ciox Health), Advantmed, LLC, RadicaLogic Technologies, Inc., Talix, Inc., SoftTech Health, LLC, Harrington Group International, LLC, Pilgrim Quality Solutions, Inc., Softexpert Software S.A., Intelex Technologies Inc., Ideagen plc, Integrum Management Systems Pty Limited, Meercat Pty Ltd, and Health Matrix Corporation and more.
Cloud-based Deployment Estimated to Reflect Fastest Growth through 2025
Owing to the implementation of strict federal regulations, there has been an increasing number of installations of quality and safety reporting systems in hospitals, clinics and several other healthcare settings. The hospitals end-user segment dominated the global quality and safety reporting systems for healthcare market in 2016, with more than 60% market share in terms of revenue. Clinics and long-term care centres are expected to exhibit a CAGR of around 12% during the forecast period.
Based on component type, although the software segment is expected to hold the dominant share of the market, the services segment is projected to register a comparatively faster growth during the forecast period. The on-premise deployment type segment is expected to be most lucrative in the global market, and is expected to account for revenues of around US$ 1600 Mn by 2025 end. In addition, cloud-based deployment is expected to register the fastest growth in the global quality and safety reporting systems for healthcare market during the forecast period.
North America Expected to Dominate the Market during the Forecast Period
North America is expected to exhibit a comparatively high growth in the global quality and safety reporting systems for healthcare market, followed by Europe and Asia Pacific (APAC). The region is estimated to reflect 12.77% CAGR during the forecast period. The growth of market in North America is primarily attributed to factors such as soaring number of Greenfield investments, relaxation of regulatory & tax burdens on the U.S. businesses, and robust adoption of advanced technologies. Europe is expected to be the second-most lucrative region in the global market throughout the forecast period.
Key Stakeholders
Healthcare Quality And Safety Reporting System Market Manufacturers
Healthcare Quality And Safety Reporting System Market Distributors/Traders/Wholesalers
Healthcare Quality And Safety Reporting System Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Healthcare Quality And Safety Reporting System Market Report:
- The Healthcare Quality And Safety Reporting System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Healthcare Quality And Safety Reporting System Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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