Patient misidentification is one of the most serious issues faced by the healthcare organizations worldwide. It occurs in several ways with the root cause being manual handling of identification process. Some of the major instances of patient misidentification include providing false information intentionally, change in name of the patient, improper oral registration process and others. According to the American Health Information Management Association (AHIMA), over 40% of duplicate medical records are due to inconsistent records of the patients’ first and last names. In the U.S., preventable medical errors cause more than 400,000 patient deaths every year. Typically, average cost per misidentified record accounts for more than US$ 1,000, leading to high financial loss throughout the year. This makes effective and reliable patient identification highly essential in healthcare organizations.
Positive patient identification refers to a system of hardware and software components used for identifying a patient’s identity. The hardware comprises scanning devices used for reading barcodes, RFID tags and also biometrics. The scanned information is processed using an integrated software and checked with the central information system of the organization. With the rise in trend of reducing the working hours of healthcare team members, the number of personnel caring for each patient increases. This further becomes more susceptible miscommunication ultimately leading to patient misidentification. Subsequently, there can be sensed a strong need for automated patient identification solution that can reduced the number of identity thefts and misidentification effectively.
1.1 Report Description
1.1.1 Purpose of the Report
The purpose of this strategic research study titled “Global Positive Patient Identification (PPID) Market- Growth, Future Prospects and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global positive patient identification industry.
1.1.2 Target Audience
1.1.3 USP and Key Offerings
The report titled “Global Positive Patient Identification (PPID) Market- Growth, Future Prospects and Competitive Analysis, 2021 – 2029” offers strategic insights into the global positive patient identification market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on market components (viz. scanning equipment and software), deployment model and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading positive patient identification solution vendors, their business strategy analysis, market positioning and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global positive patient identification market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.
On the basis of component, the global positive patient identification market is categorized into following categories:
Based on the component, positive patient identification solution market is classified into scanning devices and software and services. The overall positive patient identification market is segmented into components as scanning equipment and software & services. As of 2020, the overall positive patient identification market worldwide is dominated by the software & services segment. The segment comprises initial software installation, maintenance and upgrading. Due to periodic maintenance and upgrading required, the segment is projected to retain its dominant position in the market throughout the forecast period. The segment growth is also attributed to the increasing deployment of cloud-based patient identification systems in small and mid-sized healthcare facilities across the globe. Subsequently, the software & services segment is projected to register the highest growth rate during the forecast period.
On the basis of deployment model, the positive patient identification market is classified into following categories:
On the basis of deployment models, the global positive patient identification market is segmented into web/client based deployment models and cloud-based solutions. The overall positive patient identification market was led by the web-based deployment segment, as of 2020. Client based positive patient identification solutions are expensive to high initial investment required to set up required IT infrastructure. Nevertheless, with the rising penetration of cloud services across the globe, the cloud-based segment is projected to register the highest growth rate during the forecast period. These solutions are relatively inexpensive as it requires less or no initial investment in IT infrastructure. As a result, the segment is attracts small and mid-sized healthcare service providers for PPID deployment.
As of 2020, the global positive patient identification market is dominated by the North America region contributing to over 50% of the overall market revenue. The region is home to huge healthcare industry with strong spending over IT and automation systems. Due to strong anticipated growth in the healthcare IT sector here, the region is estimated to remain dominant throughout the forecast period. Europe follows North America in the overall positive patient identification market. Asia Pacific is expected to register the highest growth in the market during the forecast period. The growth is majorly expected to from countries such as Japan, Australia, China and South Korea, having strong healthcare IT sector. In addition, Southeast Asia and India are expected to emerge highly promising markets due to rapidly growing healthcare industry here.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Positive Patient Identification (PPID) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Component
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Deployment Model
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
