SANTA CLARA, Calif., Feb. 22, 2018 /PRNewswire/ -- Frost & Sullivan's recent analysis, Patient Safety in Healthcare, Forecast to 2022
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:
"Up to 17 percent of all hospitalizations are affected by one or more adverse events and around 15% of hospital expenditure is attributable to addressing them. The fact that 30 to 70 percent of these are potentially avoidable makes it imperative to prevent them from happening," said Anuj Agarwal, Transformational Healthcare Senior Research Analyst at Frost & Sullivan. "To reap growth opportunities, care providers and market participants should target their patient safety value proposition toward low-penetration areas with significant disruptive potential like antibiotic resistance, cybersecurity, avoidable ED admissions, pressure ulcers, and sepsis."
In the next four years, Frost & Sullivan predicts the following developments:
"The lack of clarity on available business models, fragmented and isolated vendor solutions addressing a specific set of issues in a particular segment, and disagreement on ideal patient safety solutions and implementation costs are major hurdles currently facing the market," observed Agarwal.
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: Mariana.Fernandez@frost.com
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SOURCE Frost & Sullivan
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