Clinical Risk Grouping Solution Market Introduction and Overview
According to SPER Market Research, the Global Clinical Risk Grouping Solution Market is estimated to reach USD 2459.51 million by 2033 with a CAGR of 13.34%.
The report includes an in-depth analysis of the Global Clinical Risk Grouping Solution Market, including market size and trends, product mix, Applications, and supplier analysis. Clinical risk grouping solutions are population classification systems that allocate individuals to a single, severity-adjusted group based on functional health status, medication information, and inpatient and outpatient diagnosis and procedure codes. Clinical risk grouping systems define the burden of illness by classifying patients into prospective and retrospective groups according to their health statuses using clinical hierarchy models. By detecting comorbidities and tracking a person's health metrics over time, these systems assist in identifying susceptible groups within a community.
- In August 2022, Reveleer unveiled Risk 2.0, an AI-driven platform that streamlines clinical data classification and gathering for health plans. Streamlining data collection, analysis, review, and submission allows plans to reliably implement risk adjustment procedures.
- The new risk-based monitoring system, TCS ADD suite, was introduced by Tata Consultancy Services (TCS) in April 2022. It uses sophisticated statistical algorithms to help pharmaceuticals and Contract Research Organizations (CROs) detect study and site hazards and make data-driven, informed decisions. This made it easier for the business to offer more services.
Market Opportunities and Challenges
Opportunities:
The rise of artificial intelligence and large data
The growing use of artificial intelligence or machine learning in predictive analytics improves risk assessment accuracy and efficiency in implementing proactive intervention strategies. The global demand for healthcare services is skyrocketing, with many countries facing a scarcity of physicians, nurses, and other healthcare personnel. Higher processing speeds, larger data banks, and a bigger talent pool are projected to accelerate the development of AI technologies for the healthcare sector. As a result, the industry is increasingly recognizing the value of AI-powered technologies for streamlining operations and lowering costs.
Challenges: Interoperability of healthcare systems presents data and privacy concerns. Data consolidation is problematic due to interoperability concerns caused by differing regional rules. The sensitive nature of patient health information has raised various data privacy issues among authorities, as not all data gathering systems are equipped with adequate data protection measures. Poor access control, particularly for third-party applications, has caused privacy issues. Human errors, such as accessing data via personal devices and exchanging information with unauthorized individuals, are all causes that contribute to privacy violations. These issues are causing slower adoption rates among healthcare practitioners.
Market Competitive Landscape
The global clinical risk grouping market is very concentrated and competitive. Market companies are prioritizing new product releases, product developments, and global expansion. The leading market participants are 3M Company, Optum Inc., Conduent Inc., Lightbeam Health Solutions, and Health Catalyst.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Application, By End Use.
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Conduent Inc; HBI Solutions; 3M; Cerner (Oracle); Optum Inc; Reveleer; Nuance Communications; Inc; Lightbeam; Health Catalyst. |
COVID-19 Impact on Global Clinical Risk Grouping Solution Market
The COVID-19 pandemic has hastened the market for clinical risk grouping solutions. The pandemic made clear how crucial population health management and risk stratification are to handling public health emergencies. During the pandemic, clinical risk grouping solutions have been essential for identifying high-risk individuals, tracking the course of the disease, and allocating resources as efficiently as possible. Clinical Risk Grouping Solutions providers now have more chances as a result of the further acceleration of the adoption of telehealth and remote patient monitoring solutions.
By Product Insights
The software sector dominated the market in terms of revenue, owing to rising demand for advanced analytics and data management solutions in healthcare. Software technologies allow healthcare practitioners to evaluate massive volumes of patient data, identify high-risk individuals, and conduct focused interventions, thereby improving patient outcomes and lowering costs. Integrating artificial intelligence (AI) and machine learning (ML) into these software systems expands their capabilities, allowing for more precise forecasts and efficient healthcare delivery.
Key Target Audience:
- Healthcare Providers
- Payers and Insurers
- Healthcare IT and Analytics Companies
- Regulatory and Policy Makers
- Academic and Research Institutions
- Pharmaceutical and Life Sciences Companies
Our in-depth analysis of the Clinical Risk Grouping Solution Market includes the following segments:
| By Type: | SoftwareServices |
| By Application: | Population Health ManagementChronic Disease ManagementClinical Decision SupportFraud Detection And PreventionOther |
| By End Use: | Hospitals & ClinicsAmbulatory Surgical CentersLong Term Care CentersOther |
Key Topics Covered in the Report:
- Global Clinical Risk Grouping Solution Market Size (FY’2024-FY’2033)
- Overview of Global Clinical Risk Grouping Solution Market
- Segmentation of Global Clinical Risk Grouping Solution Market By Product (Software, Services)
- Segmentation of Global Clinical Risk Grouping Solution Market By Application (Population Health Management, Chronic Disease Management, Clinical Decision Support, Fraud Detection And Prevention, Other)
- Segmentation of Global Clinical Risk Grouping Solution Market By End Use (Hospitals & Clinics, Ambulatory Surgical Centers, Long Term Care Centers, Other)
- Statistical Snap of Global Clinical Risk Grouping Solution Market
- Expansion Analysis of Global Clinical Risk Grouping Solution Market
- Problems and Obstacles in Global Clinical Risk Grouping Solution Market
- Competitive Landscape in the Global Clinical Risk Grouping Solution Market
- Impact of COVID-19 and Demonetization on Global Clinical Risk Grouping Solution Market
- Details on Current Investment in Global Clinical Risk Grouping Solution Market
- Competitive Analysis of Global Clinical Risk Grouping Solution Market
- Prominent Players in the Global Clinical Risk Grouping Solution Market
- SWOT Analysis of Global Clinical Risk Grouping Solution Market
- Global Clinical Risk Grouping Solution Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Clinical Risk Grouping Solution Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Clinical Risk Grouping Solution Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Clinical Risk Grouping Solution Market
7. Global Clinical Risk Grouping Solution Market, By Type (USD Million) 2020-2033
7.1. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By Type, 2020-2026
7.2. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By Type, 2027-2033
7.3. Software
7.3.1. Private Cloud
7.3.2. Public Cloud
7.3.3. Hybrid Cloud
7.4. Services
8. Global Clinical Risk Grouping Solution Market, By Application (USD Million) 2020-2033
8.1. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By Application, 2020-2026
8.2. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By Application, 2027-2033
8.3. Population Health Management
8.4. Chronic Disease Management
8.5. Clinical Decision Support
8.6. Fraud Detection And Prevention
8.7. Other
9. Global Clinical Risk Grouping Solution Market, By End Use (USD Million) 2020-2033
9.1. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By End Use, 2020-2026
9.2. Global Clinical Risk Grouping Solution Market Size, Share and Forecast, By End Use, 2027-2033
9.3. Hospitals & Clinics
9.4. Ambulatory Surgical Centers
9.5. Long Term Care Centers
9.6. Other
10. Global Clinical Risk Grouping Solution Market Forecast, 2020-2033 (USD Million)
10.1. Global Clinical Risk Grouping Solution Market Size and Market Share
11. Global Clinical Risk Grouping Solution Market, By Region, 2020-2033 (USD Million)
11.1. Global Clinical Risk Grouping Solution Market Size and Market Share By Region (2020-2026)
11.2. Global Clinical Risk Grouping Solution Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. Conduent Inc
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. HBI Solutions
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. 3M
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Cerner (Oracle)
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Optum Inc
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Reveleer
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Nuance Communications, Inc
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Lightbeam
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Health Catalyst
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
