Overview

Global Medication Error Reporting Market is estimated to value over USD 788.3 million by 2028 end and is expected to register a CAGR of 11.7% over the forecast period 2022 to 2028.

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, Latin America, Europe, Asia Pacific and Middle East and Africa
• 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

Table of Contents

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. 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. Type Overview
   4.6. Regulatory Framework
        4.6.1. Reimbursement Framework
        4.6.2. Standards and Compliances

5. Market Overview
   5.1. Market Dynamics
        5.1.1. Market Driver Analysis
               5.1.1.1. Increasing focus of Medication Error Reporting Market 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. 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. Type 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. Type Collaborations
        6.3.5. Strategic Divestments
   6.4. Market Entry Strategies
   6.5. Case Studies

7. Medication Error Reporting Market, By Error Type Historical Analysis and Forecast 2022-2028 (USD Million)
   7.1. Knowledge Based Error
   7.2. Rule Based Error
   7.3. Action Based Error
   7.4. Memory Based Error

8. Medication Error Reporting Market, By Occurrence Historical Analysis and Forecast 2022-2028 (USD Million)  
   8.1. Hospitals
   8.2. Community Pharmacies
   8.3. Multinational Retail Groups

9. North America Medication Error Reporting Market Analysis 2016-2020 and Forecast 2022-2028 (USD Million)
   9.1. Introduction
   9.2. Historical Market Size (USD Million) Analysis By Country, 2016-2020
        9.2.1. U.S.A
        9.2.2. Canada
        9.2.3. Mexico
   9.3. Market Size (USD Million) Forecast for North America 2022-2028

10. Latin America Medication Error Reporting Market Analysis 2016-2020 and Forecast 2022-2028 (USD Million)
    10.1. Introduction
    10.2. Historical Market Size (USD Million) Analysis By Country, 2016-2020
          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 2022-2028

11. Europe Medication Error Reporting Market Analysis 2016-2020 and Forecast 2022-2028 (USD Million)
    11.1. Introduction
    11.2. Historical Market Size (USD Million) Analysis By Country, 2016-2020
          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 2022-2028

12. Asia Pacific Medication Error Reporting Market Analysis 2016-2020 and Forecast 2022-2028 (USD Million)
    12.1. Introduction
    12.2. Historical Market Size (USD Million) Analysis By Country, 2016-2020
          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 2022-2028  

13. Middle East and Africa Market Analysis 2016-2020 and Forecast 2022-2028 (USD Million)
    13.1. Introduction
    13.2. Historical Market Size (USD Million) Analysis By Country, 2016-2020
          13.2.1. GCC
          13.2.2. Israel
          13.2.3. South Africa
          13.2.4. Rest of MEA
    13.3. Market Size (USD Million) Forecast for MEA 2022-2028

14. Market Share Analysis and Competitive Landscape   
    14.1. Global Landscape - Key Players, Revenue and Presence
    14.2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
    14.3. Global Emerging Companies
    14.4. North America - Market Share Analysis and Key Regional Players
    14.5. Europe - Market Share Analysis and Key Regional Players
    14.6. Asia Pacific - Market Share Analysis and Key Regional Players
    14.7. Global Key Player - Growth Matrix

15. Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
    15.1. Patient Safety Company
          15.1.1. Company Overview
          15.1.2. Product Portfolio
          15.1.3. SWOT Analysis
          15.1.4. Financial Overview
          15.1.5. Strategic Overview
    15.2. Datix Ltd
          15.2.1. Company Overview
          15.2.2. Product Portfolio
          15.2.3. SWOT Analysis
          15.2.4. Financial Overview
          15.2.5. Strategic Overview                         
    15.3. Health Catalyst Inc.
          15.3.1. Company Overview
          15.3.2. Product Portfolio
          15.3.3. SWOT Analysis
          15.3.4. Financial Overview
          15.3.5. Strategic Overview
    15.4. QUANTROS, Inc. (Merged with RL Datix)
          15.4.1. Company Overview
          15.4.2. Product Portfolio
          15.4.3. SWOT Analysis
          15.4.4. Financial Overview
          15.4.5. Strategic Overview
    15.5. Clarity Group, Inc.
          15.5.1. Company Overview
          15.5.2. Product Portfolio
          15.5.3. SWOT Analysis
          15.5.4. Financial Overview
          15.5.5. Strategic Overview          
    15.6. Smiths Medical, Inc.
          15.6.1. Company Overview
          15.6.2. Product Portfolio
          15.6.3. SWOT Analysis
          15.6.4. Financial Overview
          15.6.5. Strategic Overview      
    15.7. Verge Solutions, LLC
          15.7.1. Company Overview
          15.7.2. Product Portfolio
          15.7.3. SWOT Analysis
          15.7.4. Financial Overview
          15.7.5. Strategic Overview
    15.8. Prista Corporation
          15.8.1. Company Overview
          15.8.2. Product Portfolio
          15.8.3. SWOT Analysis
          15.8.4. Financial Overview
          15.8.5. Strategic Overview 
    15.9. TapRoot Systems
          15.9.1. Company Overview
          15.9.2. Product Portfolio
          15.9.3. SWOT Analysis
          15.9.4. Financial Overview
          15.9.5. Strategic Overview 
    15.10.Healthicity, LLC         
          15.10.1. Company Overview
          15.10.2. Product Portfolio
          15.10.3. SWOT Analysis
          15.10.4. Financial Overview
          15.10.5. Strategic Overview 
    15.11.Riskonnect Inc.
          15.11.1. Company Overview
          15.11.2. Product Portfolio
          15.11.3. SWOT Analysis
          15.11.4. Financial Overview
          15.11.5. Strategic Overview 
    15.12.Smartgate Solutions
          15.12.1. Company Overview
          15.12.2. Product Portfolio
          15.12.3. SWOT Analysis
          15.12.4. Financial Overview
          15.12.5. Strategic Overview 
    15.13.Riskqual Technologies (A part of Thoma Bravo LLC)
          15.13.1. Company Overview
          15.13.2. Product Portfolio
          15.13.3. SWOT Analysis
          15.13.4. Financial Overview
          15.13.5. Strategic Overview 
    15.14.Conduent Inc.
          15.14.1. Company Overview
          15.14.2. Product Portfolio
          15.14.3. SWOT Analysis
          15.14.4. Financial Overview
          15.14.5. Strategic Overview 

16. Pre and Post COVID-19 Impact
    16.1. Positive influence on the healthcare industry
    16.2. The financial disruption of the manufacturing sector
    16.3. Impact of COVID-19 on emerging companies
    16.4. Significant mandates in the healthcare regulations initiated by administrations
    16.5. The overall economic slowdown of the developing and developed nations

17. FutureWise SME Key Takeaway Points for Client

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