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Advanced Analytics and Integrated Sensors Transforming the US and Western European Next-Gen Patient Safety Solutions Market
Advanced Analytics and Integrated Sensors Transforming the US and Western European Next-Gen Patient Safety Solutions Market
Growth Strategies Driven by Increasingly Advanced and Integrated Tools
RELEASE DATE
17-Dec-2020
17-Dec-2020
REGION
North America
North America
Research Code: MFC5-01-00-00-00
SKU: HC03368-NA-MT_25059
$4,950.00
Special Price $4,207.50 save 15 %
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SKU
HC03368-NA-MT_25059
Description
Patient safety is the cornerstone of high-quality healthcare and depends upon procedures linked to the detection, prevention, reduction, documentation, and evaluation of errors that otherwise can lead to adverse events, both preventable and non-preventable. Beyond the high volume or morbidity and mortality associated with patient safety adverse events, a significant cost burden is imposed on national healthcare systems. As a result, hospitals and healthcare settings in the United States and the 5 Western European countries analyzed in this study (i.e., UK, France, Germany, Spain, and Italy) are implementing advanced solutions to address the different types of adverse events associated with patient safety (injuries, errors, accidents, and infections). Moreover, medical technology (medtech) companies, hospital information technology (HIT) companies, and even leading players from other industries continuously undertake R&D efforts to introduce innovative technologies and solutions designed to reduce or eliminate patient harm.
Several patient safety solutions exist in the market, but with great technical complexity and massive volumes of data, medical error trends are increasing like never before. Errors committed by healthcare staff, including clinicians, can range from improperly updating electronic health record (EHR) data and misspelling medication names to performing the wrong surgical procedure on a patient. Also, the impact of COVID-19 has not only increased the occurrence of these events, but introduced new infection risks. The entire range of patient safety errors that involves medical errors, pressure ulcers, sepsis, and healthcare acquired infections (HCAIs) are mostly preventable, unless the patient’s condition becomes critical.
Next-gen patient safety solutions introduce artificial intelligence, predictive analytics, machine learning, deep learning, natural language understanding, and other emerging technologies to address adverse events in a more effective way, leading to impactful decision-making by clinicians, reduced morbidity and mortality rates, decreased cost burden, and high-tech solutions that take patient safety to new heights. Among the top goals of companies’ next-gen solutions are the detection of adverse events at an early stage, even before occurrence, to prevent them and reduce or eliminate clinician/nurse burnout, which is enabled by increased automation, accuracy, ease of operation, speed, and cost-effectiveness (in most cases).
In this study, Frost & Sullivan has categorized next-gen patient safety solutions into three types: IT-based, medical device-based, and process-based. We have studied the three major care settings of hospitals, primary care, and long-term care. As the US and Western European healthcare industries are witnessing the shift from fee-for-service to outcome-driven value-based care, focus is now on providing quality care and patient satisfaction to ensure patient safety. Increased risks of infection, communication gaps, diagnostic errors, lack of early detection solutions, reimbursement policies by the US Centers for Medicare and Medicaid Services (CMS) and the UK National Health Service (NHS), and implementation of emerging technologies are among the drivers boosting the introduction and adoption of next-gen patient safety solutions.
Key Issues Addressed
- How is the next-gen patient safety solutions market segmented?
- How are the different solutions categorized?
- What are the different innovative technologies implemented? What are the technologies to be used in upcoming solutions?
- How are next-gen solutions winning over existing gold standard solutions in the patient safety solutions market?
- What are the revenue forecasts for the solutions and technology types?
- Who are the key innovative participants in this market?
- What recent partnerships/M&As have taken place in this space?
- How has the COVID-19 pandemic impacted the next-gen patient safety solutions market?
- What are the key growth opportunities in this market?
Author: Suchismita Das
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Next-gen Solutions for Patient Safety Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
What Are Next-gen Solutions for Patient Safety Event (PSE)?
Snapshot of Next-gen Solution Types Studied in the PSE Segments
Next-gen Technology Adoption across Care Settings
The Transformation to Next-gen Solutions for Patient Safety—Technologies, US and W. Europe, 2019–2025
Technology Maturity Plotting of Next-gen Patient Safety Solutions—Medical Errors
Technology Maturity Plotting of Next-gen Patient Safety Solutions—PU/PIs, Sepsis, HCAIs
Important Definitions for the Study
The Three Basic Solution Types
Patient Safety Solution Providers Landscape
Global PSE Scenario
Global PSE Scenario (continued)
Frequency of PSEs—Global
Cost Burden Analysis of Patient Safety Events—Global
Financial Impact of Patient Safety Failure on Care Settings—Global
Healthcare Patient Safety Events Scenario—US
Healthcare Patient Safety Events Statistics with Presence across Care Settings—US
Cost Analysis of Healthcare Patient Safety Events—W. Europe
Healthcare PSEs’ Occurrence across Countries by Types—W. Europe
Healthcare Patient Safety Events Statistics with Presence across Care Settings—W. Europe
Scope of Analysis
Key Growth Metrics for Next-gen Solutions for Patient Safety
Classifications and Definitions of Patient Safety Events
Occurrence of Healthcare PSEs across Care Settings
Patient Safety Events Segmentation
List of Next-gen Solutions in Different Patient Safety Segments
Growth Drivers for Next-gen Solutions Transforming Patient Safety
Growth Restraints for Next-gen Solutions Transforming Patient Safety
Forecast Assumptions—Next-gen Patient Safety Solutions
Revenue Forecast, Next-gen Patient Safety Solutions Market
Revenue Forecast Analysis—The Total Next-gen Patient Safety Solutions Market
Revenue Forecast by Technology, Next-gen Patient Safety Solutions Market, US
Revenue Forecast by Technology, Next-gen Patient Safety Solutions Market, W. Europe
Revenue Forecast Analysis by Region, 2019–2025
Competitive Environment and Next-gen Solutions in Patient Safety Market
Key Growth Metrics for Next-gen Solutions for Medical Errors
What are Medical Errors (MEs)?
ME Types, Definitions, and Examples
ME Types, Definitions and Examples (continued)
Root Causes Leading to MEs
MEs Scenario Analysis—The US
MEs Scenario Analysis—W. Europe
Revenue Forecast, Medical Errors Solutions Market
Revenue Forecast by Technology, Medical Errors Solutions Market, US
Revenue Forecast by Technology, Medical Errors Solutions Market, W. Europe
Surgical Errors Scenario Analysis—The US and the UK
Factors Leading to Surgical Errors
Preventive Measures for Surgical Errors
Drawbacks of Existing Solutions Addressing Surgical Errors
List of Solutions Addressing Surgical Errors—Gold Standard and Next-gen Solutions
Summary of Next-gen Solutions Addressing Surgical Errors
Summary of Next-gen Solutions Addressing Surgical Errors (continued)
Technology Maturity Curve—Surgical Errors Management
Profile—SafeStart Medical: SafeStart Software
Profile—Surgical Safety Technologies (SST): OR Black Box Platform
Profile—Masimo: Next Generation SedLine Brain Function Monitoring
Profile—Cortical Dynamics Ltd.: BAR Monitor
Upcoming Solutions—OR Voice Interaction Systems for the Future
Collaborations and Acquisitions—Surgical Errors
Assumptions for Forecasting—Next-gen Surgical Solutions, 2019–2025
Revenue Forecast, Next-gen Surgical Solutions Market
Revenue Forecast by Technology, Next-gen Surgical Solutions Market, US
Revenue Forecast by Technology, Next-gen Surgical Solutions Market, W. Europe
Revenue Forecast Analysis—Next-gen Surgical Solutions Market, 2019–2025
Communication Errors Scenario Analysis—The US and the UK
Factors Leading to Communication Errors
Preventive Measures for Communication Errors
Drawbacks of Existing Solutions Addressing Communications Errors
List of Solutions Addressing Communication Errors—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions Addressing Communication Errors
Technology Maturity Curve—Communications Errors Management
Profile—Surescripts: Sentinel
Profile—Telmediq: Near-Field Communication (NFC)-based Clinical Communication and Collaboration Platform
Collaborations and Acquisitions—Communication Solutions
Assumptions for Forecasting—Next-gen Communication Solutions, 2019–2025
Revenue Forecast, Next-gen Communication Solutions Market
Revenue Forecast by Technology, Next-gen Communication Solutions Market, US
Revenue Forecast by Technology, Next-gen Communication Solutions Market, W. Europe
Revenue Forecast Analysis—Next-gen Communication Solutions Market, 2019–2025
Diagnostic Errors Scenario Analysis
Factors Leading to Diagnostic Errors
Preventive Measures for Diagnostic Errors
Drawbacks of Existing Solutions Addressing Diagnostic Errors
List of Solutions Addressing Diagnostic Errors—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions Addressing Diagnostic Errors
Summary of Companies and Next-gen Solutions Addressing Diagnostic Errors (continued)
Technology Maturity Curve—Diagnostic Errors Management
Profile—Edwards Lifesciences: HemoSphere with Acumen Hypotension Prediction Index (HPI)
Profile—Pascal Metrics, Inc.: Risk Trigger Monitoring Software
Profile—Epic Systems Corp.: AI-enabled EHR
Profile—GE Healthcare: Edison Platform
Collaborations and Acquisitions—Upcoming Diagnostic Solutions
Assumptions for Forecasting—Next-gen Diagnostic Solutions, 2019—2025
Revenue Forecast, Next-gen Diagnostic Solutions Market
Revenue Forecast by Technology, Next-gen Diagnostic Solutions Market, US
Revenue Forecast by Technology, Next-gen Diagnostic Solutions Market, W. Europe
Revenue Forecast Analysis—Next-gen Diagnostic Solutions Market, 2019–2025
Medication Errors Scenario Analysis—The US and the UK
Factors Leading to Medication Errors
Preventive Measures for Medication Errors
Drawbacks of Existing Solutions Addressing Medication Errors
List of Solutions Addressing MDEs—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions Addressing Medication Errors
Summary of Companies and Next-gen Solutions Addressing Medication Errors (continued)
Technology Maturity Curve—Medication Errors Management Solutions
Profile—Amazon Web Services (AWS): Transcribe Medical
Profile—TheraNest: e-Prescribe System
Collaborations and Acquisitions—Medication Solutions
Assumptions for Forecasting—Next-gen Medication Solutions, 2019–2025
Revenue Forecast, Next-gen Medication Errors Solutions
Revenue Forecast by Technology, Next-gen Medication Errors Solutions Market, US
Revenue Forecast by Technology, Next-gen Medication Errors Solutions Market, E. Europe
Revenue Forecast Analysis—Next-gen Medication Solutions Market, 2019–2025
Revenue Forecast Analysis—Next-gen Medication Solutions Market, 2019–2025 (continued)
Key Growth Metrics for Next-gen PU/PI Solutions
PU/PI Scenario Analysis—The US and the UK
Definition and Facts on PU/PI
Factors Leading to PU/PI
Preventive Measures for PU/PI
Drawbacks of Existing Solutions Addressing PU/PI
List of Solutions Addressing PU/PI—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions for PU/PI Management
Summary of Companies and Next-gen Solutions for PU/PI Management (continued)
Summary of Companies and Next-gen Solutions for PU/PI Management (continued)
Summary of Companies and Next-gen Solutions for PU/PI Management (continued)
Technology Maturity Curve—Pressure Ulcer Management
Profile—WoundVision: Scout
Profile—Hill-Rom Services, Inc. and EarlySense: Centrella Smart + Bed Platform
Profile—Encompass Group, LLC: Airisana Therapeutic Support System
Profile—Bruin Biometrics, LLC. (BBI): Provizio SEM Scanner
Profile—InPRO Medical (InPro): Smart Hospital Garments
Profile—Reapplix: 3C Patch System
Profile—Inotec AMD Ltd.: NATROX Oxygen Wound Therapy (NATROX)
Profile—Cardinal Health, Inc.: SVED Device
Upcoming Solution—PU/PI Sensing and Healing Solution for the Future
Assumptions for Forecasting—Next-gen PU/PI Prevention and Management Market, 2019–2025
Revenue Forecast Next-gen Solutions for PU Detection, Prevention and Management
Revenue Forecast by Technology, Next-gen Solutions for PU Detection, Prevention, and Management, US
Revenue Forecast by Technology, Next-gen Solutions for PU Detection, Prevention, and Management, W. Europe
Revenue Forecast Analysis—Next-gen PU/PI Prevention and Management Market, 2019–2025
Revenue Forecast Analysis—Next-gen PU/PI Prevention and Management Market, 2019–2025 (continued)
Key Growth Metrics for Next-gen Sepsis Solutions
Sepsis Scenario Analysis—The US and the UK
Factors Leading to Sepsis
Treatment for Sepsis
Drawbacks of Existing Solutions Addressing Sepsis
List of Solutions for Sepsis Management—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions for Sepsis Management
Summary of Companies and Next-gen Solutions for Sepsis Management (continued)
Technology Maturity Curve—Sepsis Management
Profile—Ambient Clinical Analytics: Aware Sepsis DART
Profile—ExThera Medical Corp.: Seraph 100 Microbind Affinity Blood Filter
Profile—Potrero Medical: Accuryn Monitoring System
Profile—Cheetah Medical, Inc. (now Baxter): Starling SV
Collaborations and Acquisitions: Sepsis Management
Sepsis Management Solutions for the Future
Assumptions for Forecasting—Next-gen Sepsis Management Solutions, 2019–2025
Revenue Forecast, Next-gen Solutions for Sepsis Management
Revenue Forecast by Technology, Next-gen Solutions for Sepsis Management, US
Revenue Forecast by Technology, Next-gen Solutions for Sepsis Management, W. Europe
Revenue Forecast Analysis—Next-gen Sepsis Management Market, 2019–2025
Key Growth Metrics for Next-gen HCAI Solutions
HCAI Scenario Analysis—US and UK
Definition and Facts on HCAIs
Factors Leading to HCAIs
Preventive Measures for HCAIs
Drawbacks of Existing Solutions Addressing HCAIs
List of Solutions Addressing HCAIs—Gold Standard and Next-gen Solutions
Summary of Companies and Next-gen Solutions for HCAIs Management
Summary of Companies and Next-gen Solutions for HCAIs Management (continued)
Summary of Companies and Next-gen Solutions for HCAIs Management (continued)
Next-gen Technologies Plotted on the Technology Maturity Curve—HCAI Management
Profile—VigiLanz Corporation: The VigiLanz Platform
Profile—CenTrak: CenTrak Enterprise Location Services
Profile—Xenex Disinfection Services LLC: LightStrike Germ-Zapping Robots
Profile—410 Medical, Inc.: LifeFlow Rapid Infuser
Assumptions for Forecasting—Next-gen HCAI Management Solutions, 2019–2025
Assumptions for Forecasting—Next-gen HCAI Management Solutions, 2019–2025 (continued)
Revenue Forecast, Next-gen Solutions for HCAI Management
Revenue Forecast by Technology, Next-gen Solutions for HCAI Management, US
Revenue Forecast by Technology, Next-gen Solutions for HCAI Management, W. Europe
Revenue Forecast Analysis—Next-gen HCAI Solutions Market, 2019–2025
Adverse Events in the Pandemic
Safety Practices and Systems for Healthcare Workers Amid COVID-19
Analysis of Automation in Patient Safety
Detailed Analysis of Automated Dispensing Cabinets (ADC)—Gold Standard and Next-gen Solutions
Detailed Analysis of Automated Dispensing Cabinets (ADC)—Gold Standard and Next-gen Solutions (continued)
Growth Opportunity 1—Early Detection of Adverse Events to Prevent Progression and Readmission or PU/PI and Sepsis, 2020
Growth Opportunity 1—Early Detection of Adverse Events to Prevent Progression and Readmission or PU/PI and Sepsis, 2020 (continued)
Growth Opportunity 2—AI to Be the Next-gen Technology for Patient Safety Solutions in Addressing Medical Errors, 2020
Growth Opportunity 2—AI to Be the Next-gen Technology for Patient Safety Solutions in Addressing Medical Errors, 2020 (continued)
Growth Opportunity 3—Connected Wearables/Insoles/Textiles for PU/PI Patient Monitoring, 2020
Growth Opportunity 3—Connected Wearables/Insoles/Textiles for PU/PI Patient Monitoring, 2020
Growth Opportunity 4—Government Revised Reimbursement Policies on PU/PI and HCAIs Create Opportunity for Healthcare Companies, 2020
Growth Opportunity 4—Government Revised Reimbursement Policies on PU/PI and HCAIs Create Opportunity for Healthcare Companies, 2020 (continued)
Growth Opportunity 5—RTLS or Similar Technologies Used for Contact Tracing in Healthcare Facilities Witness Increasing Demand to Limit the Spread of Infection, 2020
Growth Opportunity 5—RTLS or Similar Technologies Used for Contact Tracing in Healthcare Facilities Witness Increasing Demand to Limit the Spread of Infection, 2020 (continued)
Growth Opportunity 6—Extracorporeal Therapies to Fight Bloodstream Infection, such as Sepsis, and COVID-19, 2020
Growth Opportunity 6—Extracorporeal Therapies to Fight Bloodstream Infection, such as Sepsis, and COVID-19, 2020 (continued)
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Patient safety is the cornerstone of high-quality healthcare and depends upon procedures linked to the detection, prevention, reduction, documentation, and evaluation of errors that otherwise can lead to adverse events, both preventable and non-preventable. Beyond the high volume or morbidity and mortality associated with patient safety adverse events, a significant cost burden is imposed on national healthcare systems. As a result, hospitals and healthcare settings in the United States and the 5 Western European countries analyzed in this study (i.e., UK, France, Germany, Spain, and Italy) are implementing advanced solutions to address the different types of adverse events associated with patient safety (injuries, errors, accidents, and infections). Moreover, medical technology (medtech) companies, hospital information technology (HIT) companies, and even leading players from other industries continuously undertake R&D efforts to introduce innovative technologies and solutions designed to reduce or eliminate patient harm.
Several patient safety solutions exist in the market, but with great technical complexity and massive volumes of data, medical error trends are increasing like never before. Errors committed by healthcare staff, including clinicians, can range from improperly updating electronic health record (EHR) data and misspelling medication names to performing the wrong surgical procedure on a patient. Also, the impact of COVID-19 has not only increased the occurrence of these events, but introduced new infection risks. The entire range of patient safety errors that involves medical errors, pressure ulcers, sepsis, and healthcare acquired infections (HCAIs) are mostly preventable, unless the patients condition becomes critical.
Next-gen patient safety solutions introduce artificial intelligence, predictive analytics, machine learning, deep learning, natural language understanding, and other emerging technologies to address adverse events in a more effective way, leading to impactful decision-making by clinicians, reduced morbidity and mortality rates, decreased cost burden, and high-tech solutions that take patient safety to new heights. Among the top goals of companies next-gen solutions are the detection of adverse events at an early stage, even before occurrence, to prevent them and reduce or eliminate clinician/nurse burnout, which is enabled by increased automation, accuracy, ease of operation, speed, and cost-effectiveness (in most cases).
In this study, Frost & Sullivan has categorized next-gen patient safety solutions into three types: IT-based, medical device-based, and process-based. We have studied the three major care settings of hospitals, primary care, and long-term care. As the US and Western European healthcare industries are witnessing the shift from fee-for-service to outcome-driven value-based care, focus is now on providing quality care and patient satisfaction to ensure patient safety. Increased risks of infection, communication gaps, diagnostic errors, lack of early detection solutions, reimbursement policies by the US Centers for Medicare and Medicaid Services (CMS) and the UK National Health Service (NHS), and implementation of emerging technologies are among the drivers boosting the introduction and adoption of next-gen patient safety solutions.--BEGIN PROMO--
Key Issues Addressed
- How is the next-gen patient safety solutions market segmented?
- How are the different solutions categorized?
- What are the different innovative technologies implemented? What are the technologies to be used in upcoming solutions?
- How are next-gen solutions winning over existing gold standard solutions in the patient safety solutions market?
- What are the revenue forecasts for the solutions and technology types?
- Who are the key innovative participants in this market?
- What recent partnerships/M&As have taken place in this space?
- How has the COVID-19 pandemic impacted the next-gen patient safety solutions market?
- What are the key growth opportunities in this market?
Author: Suchismita Das
| No Index | No |
|---|---|
| Podcast | No |
| Author | Suchismita Das |
| Industries | Healthcare |
| WIP Number | MFC5-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9600-B1,9A47-B1,9A48-B1,9A4B-B1 |