Patient Safety Software Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Risk & Compliance Solutions, Governance, Risk Management & Safety Solutions, and Claims Management Solutions), By Deployment Type (Private Cloud, Public Cloud, and Hybrid Cloud), By End Users (Hospitals, Ambulatory Care Centers, Long Term Care Centers, and Pharmacies) and Region Forecast 2019-2030

The patient safety software market size was valued at US$ 2,645.8 million in 2023 and is expected to reach a value of the US$ 5,090.7 million by 2030, at a CAGR of 9.8% from 2024-2030. Patient safety software is a computer program or system that helps healthcare organizations improve patient safety and reduce the risk of errors and accidents it includes reporting, surveys, checklists, analysis, medication reconciliation, automated safety protocol, and others. The market for patient safety software is being driven by strict rules that require reporting and responsibility, together with a growing emphasis on patient outcomes and healthcare quality.

High implementation costs and healthcare workers' aversion to change are major restraints that hinder the market. The increasing use of remote monitoring and telehealth technologies, which improve patient safety procedures, presents numerous opportunities. The recent trend in the market is the rise of artificial intelligence in many of the software solutions to predict and prevent safety issues in healthcare. As telehealth continues to expand, these tools are adapting to ensure remote care stays safe. And there is also a push to integrate multiple health data sources so that providers have a complete view of patient safety.

The product has become easier to use making it comfortable for healthcare professionals to accept its adoption without having to put in place massive training. Lastly, due to increasing regulations, places are increasingly looking for reporting software that meets safety standards. These trends have brought patient care to the forefront since it should be enhanced through technology. The growing need for creative solutions in healthcare settings is expected to fuel the worldwide patient safety software market's estimated 15% compound annual growth rate (CAGR) between 2023 and 2030, according to new research.

Key Developments

• In January 2024: Origami Risk LLC launched the Origami Mobile app, further revolutionizing the way users experience the facilitation of EHS and risk management processes. The app enables safety and risk management professionals to conduct their audit & inspection activities, capture observations, and report incidents while on location in the field from any mobile or tablet without requiring Wi-Fi or cellular connectivity.
• In June 2023: Action Cue Clinical Intelligence was implemented into the facility through the Idaho Hospital Association's partnership with Prista Corporation. It helped improve patient care and safety by providing real-time, actionable insight to the healthcare executives and their teams at the right time.