by The global patient risk stratification market has been growing significantly over the past decade owing to the growing need for leveraging patient health data for better population health management and outcome-based payments. Patient risk stratification involves evaluating patient-level data such as clinical history, claims data and social determinants to identify high-risk patients and customize care plans accordingly. This helps in optimizing resource utilization and improving care coordination.
The growing burden of chronic diseases, rising healthcare costs and transition towards value-based care models have been driving increased adoption of Patient Risk Stratification solutions globally.
The Global patient risk stratification 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 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.
The key opportunities in the patient risk stratification market include growing adoption of AI and machine learning solutions for advanced predictive analytics. Many players are focusing on leveragingML capabilities for more granular risk identification.
Globally, North America dominates the patient risk stratification market owing to the large healthcare IT spending and rapid adoption of value-based care models in the region. However, Asia Pacific is expected to offer lucrative growth opportunities during the forecast period with increasing healthcare expenditures and focus on developing innovative digital health solutions.
Market Drivers
The major factor driving the growth of the patient risk stratification market is the growing need for population health management to optimize resource utilization and reduce healthcare costs. With the rising burden of chronic diseases, risk stratification helps providers focus their care programs on high-risk patients and ensure early interventions. Furthermore, the transition towards value-based reimbursements is also spurring greater adoption of patient risk stratification solutions.
PEST Analysis
Political: Healthcare reforms and changing payment models are prompting healthcare providers to focus on preventive care and chronic disease management. Regional and national initiatives are being implemented to encourage risk stratification adoption.
Economic: Rising healthcare costs due to chronic diseases are driving the need for more effective prevention and management strategies. Risk stratification helps identify high-risk populations and allocate resources accordingly to reduce overall costs.
Social: Growing emphasis on value-based care is shifting the focus from treatment to prevention. Patients are more informed and proactive about their health due to access to online health resources.
Technological: Advancements in data analytics, AI and machine learning are enabling organizations to aggregate and analyze large volumes of patient data to precisely stratify risk. Adoption of EHRs and integration with HIEs has improved data availability.
Geographical Concentration In Terms Of Value
North America accounts for the largest share of the global patient risk stratification market, primarily due to established healthcare infrastructure, widespread EHR adoption, presence of leading vendors, and growing emphasis on population health management. The U.S. dominates the North American market, driven by initiatives promoting value-based care models.
Fastest Growing Region
Asia Pacific region is expected to grow at the fastest rate over the forecast period due to increasing healthcare expenditures, growing geriatric population, rising prevalence of chronic conditions, rapid digitization of healthcare, and government efforts to modernize healthcare systems. China and India along with other developing Asian countries are expected to offer significant growth opportunities for market players.
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?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
