Global Patient Risk Stratification Market to Exhibit Huge Growth of 22% Owing to Increasing Need for Large Scale Healthcare Data Analysis

Global Patient Risk Stratification Market to Exhibit Huge Growth of 22% Owing to Increasing Need for Large Scale Healthcare Data Analysis

The global patient risk stratification market caters to the need for identification of at-risk patient population for targeted care coordination and management.

Patient Risk Stratification involves collection, analysis, and assessment of healthcare data to determine the risk levels of patients for various clinical conditions, such as diabetes, cardiovascular diseases etc. This helps in optimizing resource allocation and improving health outcomes.

The global market is estimated to be valued at US$ 1.56 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period of 2024-2031.

Key Takeaways

Key players operating in the global patient risk stratification market are Cerner Corporation, Epic Systems Corporation, Optum, Inc., Allscripts Healthcare Solutions, Inc., IBM Corporation, Medecision, Inc., Health Catalyst, Inc., Conifer Health Solutions, LLC, Wellcentive, Inc., ZeOmega, Inc., Verscend Technologies, Inc., PreciseDx, CitiusTech Inc., Avero Diagnostics, Lightbeam Health Solutions, LexisNexis Risk Solutions, Milliman, Inc., NVision Health, RLDatix, and Verisk Analytics, Inc. These players are focusing on developing advanced risk analytics solutions and forging strategic partnerships with healthcare providers to strengthen their market presence.

In terms of opportunities, the rising adoption of electronic health records and real-time access to large healthcare databases provides significant scope for using predictive analytics and machine learning techniques for advanced patient risk stratification. Furthermore, growing focus on value-based care is compelling healthcare payers and providers to adopt proactive risk management approaches. This is anticipated to fuel the demand for patient risk stratification solutions over the forecast period.

On the global front, companies are penetrating emerging markets in the Asia Pacific and Middle East & Africa regions owing to increasing healthcare expenditures and growing need to optimize resource utilization. Favorable government policies supporting big data analytics also augur well for the market. North America currently dominates the global patient risk stratification market.

Market Drivers

The primary driver for the patient risk stratification market is the increasing need for large scale healthcare data analysis. Risk stratification technologies allow healthcare providers to process huge amounts of clinical, financial and operational data to gain actionable insights for improved care management. This is becoming critical as healthcare data volumes are rising exponentially worldwide. Furthermore, advancements in big data analytics, cloud storage, and emergence of value-based reimbursement models are positively impacting the adoption of patient risk stratification solutions.

Market Restrains 

High costs associated with deployment and maintenance of patient risk stratification platforms is a major restraint. Since these involve investment in advanced analytical tools, skilled data scientists and continuous software upgrades, the overall expenses can be quite high. Additionally, non-availability of skilled workforce and data security concerns also impede the market growth to some extent. Lack of interoperability between legacy systems further complicates the data integration process.

Segment Analysis

The global patient risk stratification market is segmented based on delivery mode, application, end user, and geography. Based on delivery mode, the market is categorized into cloud-based and on-premises. Cloud-based segment dominates the market as it provides easy and scalable access to patient risk assessments anytime anywhere. Based on application, patient risk stratification market is bifurcated into fraud detection, case management and risk reporting, payment integrity, disease risk management , population health management, and others. Among these, disease risk management dominates as it is majorly used for population health strategies to identify and manage high-risk and high-cost patients. Based on end user, the market is segmented into physicians, payers, hospitals, and others. Hospitals segment leads the market as patient risk stratification solutions are most commonly adopted by hospitals to offer value-based care.

Global Analysis

Regionally, North America dominated the patient risk stratification market in 2024 due to established healthcare infrastructure and high focus on value-based healthcare. However, Asia Pacific is anticipated to witness fastest growth during the forecast period due to rapidly developing healthcare infrastructure and growing geriatric population in countries such as India and China demanding value-based care. In terms of fastest growing region, Asia Pacific is expected to witness growth at highest CAGR during 2024-2031 period as governments across developing countries are focusing on population health management to control rising healthcare costs.

What Are The Key Data Covered In This Global Patient Risk Stratification Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Patient Risk Stratification's growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Patient Risk Stratification and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Patient Risk Stratification Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Patient Risk Stratification vendors

FAQ’s

Q.1 What are the main factors influencing the Global Patient Risk Stratification?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Patient Risk Stratification companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Patient Risk Stratification’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)