Global Clinical Risk Grouping Solutions Market Size, Share, Growth, Forecast 2032

Clinical Risk Grouping Solutions Market Insights

The global Clinical Risk Grouping Solutions Market size was valued at USD 750.38 Million in 2023 and is predicted to reach USD 2498.6 Million by the end of 2032. The market is expected to grow with a CAGR of 14.3% during the forecast period. The report analyzes the global Clinical Risk Grouping Solutions Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Clinical Risk Grouping Solutions industry.

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Clinical Risk Grouping Solutions Market: Industry Perspective

The report covers forecasts and analyses for the clinical risk grouping solutions market on a global and regional level. The study provides historic data from 2018 along with forecasts from 2024 to 2032 based on revenue (USD Million). The study includes drivers and restraints for the clinical risk grouping solutions market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the clinical risk grouping solutions market on a global as well as regional level.

Clinical Risk Grouping Solutions Market: Overview

In order to give the users of this report a comprehensive view of the clinical risk grouping solutions market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides a company market share analysis in order to give a broader overview of the key players in the clinical risk grouping solutions market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the clinical risk grouping solutions market on a global and regional basis.

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Clinical Risk Grouping Solutions Market Growth Dynamics

The clinical risk grouping (CRG) solution is a population classification system used that uses ambulatory and inpatient diagnosis and procedure codes, functional health status, and pharmaceutical data to allocate each individual to a unique or single, severity-adjusted group. The clinical risk group is a categorical classification system based on clinical evidence and uses administrative data to recognize adults and children with chronic health conditions. Clinical risk grouping software uses proficient clinical logic to allocate each individual to a particular risk group. Clinical risk groups are used to profile physician practice patterns, health service utilization patterns, track chronic or congenital disease prevalence, risk adjustment for pricing and capitation, etc.

Clinical risk grouping solutions are gaining momentum in the market owing to their advantages, and the growing need for risk management to offer better patient care, reduce errors, and increase the use of big data solutions. However, lack of infrastructure, data privacy issues, dearth of trained health care IT workers are factors that may hamper the growth of this market. The increasing focus of healthcare solution providers on the use of artificial intelligence and machine learning is expected to bring new growth avenues for the clinical risk grouping solutions market.

Clinical Risk Grouping Solutions Market: Report Scope

Clinical Risk Grouping Solutions Market Segmentation Analysis

The study provides a crucial view of the clinical risk grouping solutions by segmenting the market based on deployment mode, product, end user, and region. All the segments of the clinical risk grouping solutions market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on product, the global clinical risk grouping solutions market is bifurcated into dashboard analytics solutions, scorecards & visualization tools, and risk reporting solutions. The scorecards & visualization tools segment accounted for the largest market share in 2023 as a result of the increasing need for patient precision and forecast risks. The dashboard analytics solutions segment is expected to grow at the highest CAGR over the forecast period. Increasing acceptance of risk reporting solutions is expected to drive the demand for the risk reporting solutions segment during the forecast period.

Based on deployment mode global clinical risk grouping solutions market is segmented into public cloud, hybrid cloud, and private cloud. High data security offered by private cloud drives the demand for private cloud deployment mode. On the other hand, the cost-effectiveness of public cloud over private cloud is driving its demand. The growth of the hybrid cloud segment is driven by its flexibility and ability to avoid vendor lock-in.

The end-user segment is divided into payers, hospitals, long-term care centers, ambulatory care centers, and others. Hospitals end user segment held the largest market share in 2023 whereas payers will adopt the clinical risk grouping solution at a faster growth rate over the forecast period.

Clinical Risk Grouping Solutions Market: Competitive Space

Major players included in the report are

• 3M
• Conduent Inc.
• Cerner Corporation
• Nuance Communications
• HBI Solutions
• Health Catalyst
• Lightbeam Health Solutions
• Johns Hopkins University
• 4S Information Systems
• Dynamic Healthcare Systems
• PeraHealth
• and Evolent Health.

Clinical Risk Grouping Solutions Market: Regional Insights

The current and estimated demand for regions such as Middle East & Africa, North America, Asia Pacific, Latin America, and Europe is covered for the clinical risk grouping solutions market. North America held the largest market share of the global clinical risk grouping solutions market. Increasing government initiatives on management of population health, favorable regulatory framework, presence of major solution providers, and the need to reduce errors in patient care drive the demand for clinical risk grouping solutions in North America.

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Asia Pacific region will witness the highest CAGR over the forecast period owing to increasing population and demand for better healthcare services. Europe was the second largest regional market in 2023. Growth in Europe is driven by government initiatives to promote the use of healthcare IT solutions to reduce cost, time, and errors. Latin America and Middle East Africa regions will register considerable growth during the forecast period.

The report segment of the global clinical risk grouping solutions market is as follows:

Global Clinical Risk Grouping Solutions Market: By Product

• Scorecards & Visualization Tools
• Dashboard Analytics Solutions
• Risk Reporting Solutions

Global Clinical Risk Grouping Solutions Market: By Deployment Mode

• Private Cloud
• Public Cloud
• Hybrid Cloud

Global Clinical Risk Grouping Solutions Market: End User Analysis

• Hospitals
• Payers
• Ambulatory Care Centers
• Long-Term Care Centers
• Other End Users

Global Clinical Risk Grouping Solutions Market: Regional Segments

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa