May 29, 2024
Global Patient Risk Stratification Market

Global Patient Risk Stratification Market To Witness High Growth Owing To Growing Need For Reducing Healthcare Costs

Global Patient Risk Stratification refers to tools and techniques used to categorize patients based on the risk of developing certain health conditions over a defined period of time. Patient risk stratification helps identify high-risk patients that require urgent clinical intervention to better manage chronic conditions and prevent costly hospitalizations. It provides a framework to understand individual patient needs and enables more proactive, preventative, and coordinated care. Key attributes of patient risk stratification solutions include predictive modeling, risk scoring, and segmentation of the patient population based on their medical histories and social determinants of health.

The Global Patient Risk Stratification Market Size 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: 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.

Key players operating in the Global Patient Risk Stratification market are leveraging advanced analytics and machine learning capabilities to develop more accurate predictive models. Partnerships with healthcare providers are helping them gain real-world clinical insights.

Key Opportunities: Growing need to enhance population health management, reduce preventable hospitalizations, and curb rising healthcare costs present significant revenue opportunities for patient risk stratification vendors. Integration of social determinants of health data can further optimize risk scores.

Global Expansion: Leading companies are investing in partnerships and mergers & acquisitions to expand their geographic footprints. Growing digitization of healthcare in developing regions is fueling international demand for patient risk stratification solutions.

Market Drivers

The primary driver propelling the Global Patient Risk Stratification Market is the growing need for reducing healthcare costs. By identifying at-risk patients, providers can ensure proper care management intervention to prevent costly medical events like hospital readmissions. This helps curb expenses for public and private payers. Growing prevalence of chronic diseases is also driving healthcare providers to adopt risk stratification models to deploy preventive action plans and minimize disease burden. Furthermore, policies promoting value-based care are stimulating the adoption of risk stratification approaches to link reimbursements to patient outcomes.

Pest Analysis

Political: Healthcare policies and regulations like Affordable Care Act are focusing on providing value-based and personalized care. This is promoting adoption of patient risk stratification solutions.

Economic: Rising healthcare costs are putting pressure on payers and providers to identify high-risk patients and better manage their care. This is driving demand for risk stratification solutions to reduce costs.

Social: Growing aging population and burden of chronic diseases are raising needs for predictive healthcare and preventive management. This is increasing focus on stratifying patients based on their risk levels.

Technological: Advancements in big data analytics, artificial intelligence, and cloud computing are empowering risk stratification solutions with stronger predictive capabilities. This is enhancing their ability to precisely stratify large patient pools.

The market in North America region, in terms of value, holds the major share currently, owing to robust healthcare infrastructure and early adoption of advanced healthcare IT solutions in the region. Factors such as rising prevalence of chronic diseases, focus on quality and personalized care, and government support for healthcare IT are driving the market in North America.

The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to improving healthcare infrastructure, growing medical tourism, and rising healthcare expenditure in developing countries of the region. In addition, increasing government focus on developing centralized healthcare databases and national digital health programs is fueling market growth.

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 Market’s growth between 2024 and 2031.

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

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

:- Global Patient Risk Stratification  Market 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  Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Patient Risk Stratification market?
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 Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Patient Risk Stratification market’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: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it