Technology Updates Healthcare Quality And Safety Reporting System Mar

Global Quality & Safety Reporting Systems for Healthcare Market Projected to Surpass US$
2000 Mn by 2025
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. 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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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.
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.
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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