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SANTA CLARA, Calif., Feb. 22, 2018 /PRNewswire/ -- Frost & Sullivan's recent analysis, Patient Safety in Healthcare, Forecast to 2022, assesses the 30 most pressing safety adverse events affecting patients, caregivers, and healthcare organizations across the globe. Cumulatively, these adverse episodes affected an estimated 91.8 million patient admissions across the US and Western Europe resulting in around 1.95 million deaths at an average mortality of 2.1 percent and a significantly higher morbidity. The study also covers innovative and promising solutions, future market potential, convergence of new technologies, key market participants, competitive landscape, and investment trends.
In the next four years, adverse patient safety events in the United States and Western Europe such as healthcare associated infections (HAIs), sepsis, medication safety, pressure ulcers, diagnostic errors, antibiotic resistance and hand hygiene non-compliance will drive an estimated healthcare cost burden of $383.7 billion. While some adverse events, such as medication safety and hand hygiene non-compliance, are relatively well addressed by current industry solutions, under-penetrated areas such as antibiotic resistance, pressure ulcers, sepsis and unnecessary ED (emergency department) admissions will be the high opportunity growth areas for future.
In the next four years, Frost & Sullivan predicts the following developments:
Patient Safety in Healthcare, Forecast to 2022 is part of Frost & Sullivan's Transformational Health Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
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In the next four years, adverse patient safety events in the United States and Western Europe such as healthcare associated infections (HAIs), sepsis, medication safety, pressure ulcers, diagnostic errors, antibiotic resistance and hand hygiene non-compliance will drive an estimated healthcare cost burden of $383.7 billion. While some adverse events, such as medication safety and hand hygiene non-compliance, are relatively well addressed by current industry solutions, under-penetrated areas such as antibiotic resistance, pressure ulcers, sepsis and unnecessary ED (emergency department) admissions will be the high opportunity growth areas for future.
For further information on this analysis, please visit: http://frost.ly/262.
Further trends driving growth in the patient safety market include:
- A move to value-based, quality-driven reimbursement models;
- Advancements in medical, surgical, and patient care technologies;
- Integration between med-tech and digital health technologies such as data analytics, remote monitoring, and surveillance;
- Data interoperability and enhanced use of predictive analytics for outcomes improvement; and
- Emerging use of newer technologies such as blockchain, artificial intelligence and wearables to limit patient safety violations.
In the next four years, Frost & Sullivan predicts the following developments:
- Patient safety transitioning from an ancillary to a core value proposition for care providers;
- High adoption of patient and asset tracking as well as identification technologies;
- Increased consolidation in the industry with large med-tech companies going for provision of targeted solutions for key unmet need areas;
- Significant use of remote healthcare technologies such as Internet of Medical Things (IoMT) coupled with increasing healthcare data exchange, leading to disproportionate increase in cybersecurity risks such as protected heath information (PHI) compromise and medical device/ implants data breach; and
- Collaboration to develop guidance documents and draft policies for best practices on risk mitigation.
Patient Safety in Healthcare, Forecast to 2022 is part of Frost & Sullivan's Transformational Health Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
Patient Safety in Healthcare, Forecast to 2022K200_54
Contact:Mariana FernandezCorporate Communications – North AmericaP: +1 (210) 348 1012E: [email protected]
http://ww2.frost.com
twitter: @FS_Healthcare LinkedIn: Transform Health
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SOURCE Frost & Sullivan