Published :
Tables : 39
Figures : 30
Category : Healthcare
No. of Pages : 160
Report Code : HC-1206
Medication Error Reporting Market Introduction: Global Medication Error Reporting Market is estimated to value over USD 788.3 million by 2027 end and is expected to register a CAGR of 11.7% over the forecast period 2020 to 2027. Minimizing medication errors is the primary agenda of nations across the world, with patient safety as the point of focus. Healthcare professionals are facing daily challenges for efficiently managing clinical operations, reducing costs and streamlining workflow. Therefore, the demand for automated solutions has been on a rise in recent years. A rising number of prescriptions has burdened care providers with maintaining the quality of prescription management and keeping medication error numbers to a bare minimum. However, this burdening and lack of automation can cause human errors in prescribing medicine which can prove fatal. This rise in the number of prescriptions is one instrumental factor that drives market growth. Moreover, a dearth of healthcare professionals and pharmacists shall further augment the market growth and increase the adoption of IT solutions in the healthcare sector. Hospitals are massively investing in automated solutions to streamline clinical processes by purchasing new software for managing workflow, thus bolstering market growth. Saudi German Hospital-Dubai integrated automation in its medication workflow management with the assistance of Omnicell’s solutions. Various policies, reforms and initiatives are being undertaken by governments to increase the promotion of healthcare IT worldwide, which will propel the market growth. The initiative of the German National Medication Plan is focussed on the enhancement of medication management in pharmacies and hospitals in Germany. Such initiatives will assist in the proliferation of the market. The North American region dominates the market and is expected to witness a similar growth trend during the forecast period. It is followed by Europe which is anticipated to surpass the North American region during the forecast period. The physicians and nurses in Europe are liable for medication errors and this liability depends on the intensity of medication error which ranges from temporary suspension of license to legal charges. In Belgium, medication error liabilities are classified under civil as well as criminal liability. The Middle East region has immense potential for the market to grow. The United Arab Emirates have some strict regulations regarding medication errors which can range from hefty penalties to imprisonment depending on the intensity of the error. Some of the key market players are: Patient Safety Company, Datix Ltd, Health Catalyst Inc., QUANTROS, Inc.- (Merged with RL Datix), Clarity Group, Inc., Smiths Medical, Inc., Verge Solutions, LLC, Prista Corporation, TapRoot Systems, Healthicity, LLC, Riskonnect Inc., Smartgate Solutions, Riskqual Technologies (A part of Thoma Bravo LLC), Conduent Inc. Medication Error Reporting Market Segmentation: By Error Type Knowledge Based Error Rule Based Error Action Based Error Memory Based Error By Occurrence Hospitals Community Pharmacies Multinational Retail Groups By Region North America Latin America Europe Asia Pacific Middle East & Africa Global Medication Error Reporting Market Video Sample: Competitive Landscape: Tier 1 players- established companies in the market with a major market share Tier 2 players Emerging players which are growing rapidly New Entrants FutureWise Key Takeaways: Growth prospects SWOT analysis Key trends Key data-points affecting market growth Objectives of the Study: To provide with an exhaustive analysis on the medication error reporting market by error type, by occurrence and by region To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) To evaluate and forecast micro-markets and the overall market To predict the market size, in key regions (along with countries)— North America, Benelux, Asia Pacific and Middle East To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions Profiling of companies to evaluate their market shares, strategies, financials and core competencies Flexible Delivery Model: We have a flexible delivery model and you can suggest changes in the scope/table of content as per your requirement The customization Mobility Care offered are free of charge with purchase of any license of the report You can directly share your requirements/changes to the current table of content to: sales@futurewiseresearch.com
Global Medication Error Reporting Market is estimated to value over USD 788.3 million by 2027 end and is expected to register a CAGR of 11.7% over the forecast period 2020 to 2027.
Minimizing medication errors is the primary agenda of nations across the world, with patient safety as the point of focus. Healthcare professionals are facing daily challenges for efficiently managing clinical operations, reducing costs and streamlining workflow. Therefore, the demand for automated solutions has been on a rise in recent years. A rising number of prescriptions has burdened care providers with maintaining the quality of prescription management and keeping medication error numbers to a bare minimum. However, this burdening and lack of automation can cause human errors in prescribing medicine which can prove fatal. This rise in the number of prescriptions is one instrumental factor that drives market growth. Moreover, a dearth of healthcare professionals and pharmacists shall further augment the market growth and increase the adoption of IT solutions in the healthcare sector.
Hospitals are massively investing in automated solutions to streamline clinical processes by purchasing new software for managing workflow, thus bolstering market growth. Saudi German Hospital-Dubai integrated automation in its medication workflow management with the assistance of Omnicell’s solutions. Various policies, reforms and initiatives are being undertaken by governments to increase the promotion of healthcare IT worldwide, which will propel the market growth. The initiative of the German National Medication Plan is focussed on the enhancement of medication management in pharmacies and hospitals in Germany. Such initiatives will assist in the proliferation of the market.
The North American region dominates the market and is expected to witness a similar growth trend during the forecast period. It is followed by Europe which is anticipated to surpass the North American region during the forecast period. The physicians and nurses in Europe are liable for medication errors and this liability depends on the intensity of medication error which ranges from temporary suspension of license to legal charges. In Belgium, medication error liabilities are classified under civil as well as criminal liability. The Middle East region has immense potential for the market to grow. The United Arab Emirates have some strict regulations regarding medication errors which can range from hefty penalties to imprisonment depending on the intensity of the error.
Some of the key market players are:
Patient Safety Company, Datix Ltd, Health Catalyst Inc., QUANTROS, Inc.- (Merged with RL Datix), Clarity Group, Inc., Smiths Medical, Inc., Verge Solutions, LLC, Prista Corporation, TapRoot Systems, Healthicity, LLC, Riskonnect Inc., Smartgate Solutions, Riskqual Technologies (A part of Thoma Bravo LLC), Conduent Inc.
Medication Error Reporting Market Segmentation:
By Error Type
By Occurrence
By Region
Global Medication Error Reporting Market Video Sample:
Competitive Landscape:
FutureWise Key Takeaways:
Objectives of the Study:
Flexible Delivery Model:
1. Market Introduction 1.1. Objectives of the Study 1.2. Market Definition 1.3. Market Scope 1.3.1. Years Considered for the Study 1.3.2. Market Covered 1.4. Currency 1.5. Limitations 1.6. Stakeholders 2. Research Methodology 2.1. Research Data 2.1.1. Secondary Data 2.1.1.1. Key Data from Secondary Sources 2.1.2. Primary Data 2.1.2.1. Key Data from Primary Sources 2.2. Market Size Estimation 2.3. Market Breakdown and Data Triangulation 2.4. Assumptions for the Study 3. Executive Summary 3.1. Market Outlook 3.2. Segment Outlook 3.3. Competitive Insights 4. Global Medication Error Reporting Market Variables, Trends & Scope 4.1. Market Lineage Outlook 4.2. Penetration and Growth Prospect Mapping 4.3. Industry Value Chain Analysis 4.4. Cost Analysis Breakdown 4.5. Technology Overview 4.6. Regulatory Framework 4.6.1. Reimbursement Framework 4.6.2. Standards and Compliances 5. Global Medication Error Reporting Market Overview 5.1. Market Dynamics 5.1.1. Market Driver Analysis 5.1.1.1. Increasing focus of Medication Error Reporting Companies on Brand Protection 5.1.1.2. Untapped Opportunities in Emerging Regions 5.1.2. Market Restraint Analysis 5.1.2.1. High Cost Associated with Implementation of Predictive Analysis 5.1.3. Industry Challenges 5.1.3.1. Presence of Ambiguous Regulatory Framework 6. Global Medication Error Reporting Market Analysis Tools 6.1. Industry Analysis - Porter’s 6.1.1. Supplier Power 6.1.2. Buyer Power 6.1.3. Substitution Threat 6.1.4. Threat from New Entrants 6.1.5. Competitive Rivalry 6.2. Pestel Analysis 6.2.1. Political Landscape 6.2.2. Environmental Landscape 6.2.3. Social Landscape 6.2.4. Technology Landscape 6.2.5. Legal Landscape 6.3. Major Deals And Strategic Alliances Analysis 6.3.1. Joint Ventures 6.3.2. Mergers and Acquisitions 6.3.3. Licensing and Partnership 6.3.4. Technology Collaborations 6.3.5. Strategic Divestments 6.4. Market Entry Strategies 6.5. Case Studies 7. Global Medication Error Reporting Market, By Error Type Historical Analysis and Forecast 2020-2027 (USD Million) 7.1. Knowledge Based Error 7.2. Rule Based Error 7.3. Action Based Error 7.4. Memory Based Error 8. Global Medication Error Reporting Market, By Occurrence Historical Analysis and Forecast 2020-2027 (USD Million) 8.1. Hospitals 8.2. Community Pharmacies 8.3. Multinational Retail Groups 9. North America Market Analysis 2012–2019 and Forecast 2020–2027 (USD Million) 9.1. Introduction 9.2. Historical Market Size (USD Million) Analysis By Country, 2012-2019 9.2.1. U.S.A 9.2.2. Canada 9.2.3. Mexico 9.3. Market Size (USD Million) Forecast for North America 2020-2027 10. Latin America Market Analysis 2012–2019 and Forecast 2020–2027 (USD Million) 10.1. Introduction 10.2. Historical Market Size (USD Million) Analysis By Country, 2012-2019 10.2.1. Brazil 10.2.2. Venezuela 10.2.3. Argentina 10.2.4. Rest of Latin America 10.3. Market Size (USD Million) Forecast for Latin America 2020-2027 11. Europe Market Analysis 2012–2019 and Forecast 2020–2027 (USD Million) 11.1. Introduction 11.2. Historical Market Size (USD Million) Analysis By Country, 2012-2019 11.2.1. Germany 11.2.2. U.K 11.2.3. France 11.2.4. Italy 11.2.5. Spain 11.2.6. Russia 11.2.7. Poland 11.2.8. Rest of Europe 11.3. Market Size (USD Million) Forecast for Europe 2020-2027 12. Asia Pacific Market Analysis 2012–2019 and Forecast 2020–2027 (USD Million) 12.1. Introduction 12.2. Historical Market Size (USD Million) Analysis By Country, 2012-2019 12.2.1. Japan 12.2.2. China 12.2.3. India 12.2.4. Australia and New Zealand 12.2.5. ASEAN 12.2.6. Rest of Asia Pacific 12.3. Market Size (USD Million) Forecast for Asia Pacific 2020-2027 13. Middle East and Africa Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million) 13.1. Introduction 13.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019 13.2.1. Saudi Arabia 13.2.2. UAE 13.2.3. South Africa 13.2.4. Egypt 13.3. Market Size (USD Million) Forecast for MEA 2020-2027 14. Company Profiles (Competition Dashboard, Competitors Deep Dive, Product Connected Devices and Disease Indication Portfolio, Financial Layouts) 14.1. Patient Safety Company 14.1.1. Company Overview 14.1.2. Product Portfolio 14.1.3. SWOT Analysis 14.1.4. Financial Overview 14.1.5. Strategic Overview 14.2. Datix Ltd 14.2.1. Company Overview 14.2.2. Product Portfolio 14.2.3. SWOT Analysis 14.2.4. Financial Overview 14.2.5. Strategic Overview 14.3. Health Catalyst Inc. 14.3.1. Company Overview 14.3.2. Product Portfolio 14.3.3. SWOT Analysis 14.3.4. Financial Overview 14.3.5. Strategic Overview 14.4. QUANTROS, Inc.- (Merged with RL Datix) 14.4.1. Company Overview 14.4.2. Product Portfolio 14.4.3. SWOT Analysis 14.4.4. Financial Overview 14.4.5. Strategic Overview 14.5. Clarity Group, Inc. 14.5.1. Company Overview 14.5.2. Product Portfolio 14.5.3. SWOT Analysis 14.5.4. Financial Overview 14.5.5. Strategic Overview 14.6. Smiths Medical, Inc. 14.6.1. Company Overview 14.6.2. Product Portfolio 14.6.3. SWOT Analysis 14.6.4. Financial Overview 14.6.5. Strategic Overview 14.7. Verge Solutions, LLC 14.7.1. Company Overview 14.7.2. Product Portfolio 14.7.3. SWOT Analysis 14.7.4. Financial Overview 14.7.5. Strategic Overview 14.8. Prista Corporation 14.8.1. Company Overview 14.8.2. Product Portfolio 14.8.3. SWOT Analysis 14.8.4. Financial Overview 14.8.5. Strategic Overview 14.9. TapRoot Systems 14.9.1. Company Overview 14.9.2. Product Portfolio 14.9.3. SWOT Analysis 14.9.4. Financial Overview 14.9.5. Strategic Overview 14.10. Healthicity, LLC 14.10.1. Company Overview 14.10.2. Product Portfolio 14.10.3. SWOT Analysis 14.10.4. Financial Overview 14.10.5. Strategic Overview 14.11. Riskonnect Inc. 14.11.1. Company Overview 14.11.2. Product Portfolio 14.11.3. SWOT Analysis 14.11.4. Financial Overview 14.11.5. Strategic Overview 14.12. Smartgate Solutions 14.12.1. Company Overview 14.12.2. Product Portfolio 14.12.3. SWOT Analysis 14.12.4. Financial Overview 14.12.5. Strategic Overview 14.13. Riskqual Technologies (A part of Thoma Bravo LLC) 14.13.1. Company Overview 14.13.2. Product Portfolio 14.13.3. SWOT Analysis 14.13.4. Financial Overview 14.13.5. Strategic Overview 14.14. Conduent Inc. 14.14.1. Company Overview 14.14.2. Product Portfolio 14.14.3. SWOT Analysis 14.14.4. Financial Overview 14.14.5. Strategic Overview 15. FutureWise SME Key Takeaway Points for Client
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