Clinical Risk Grouping Solutions Market | Ongoing Trends and Recent Developments | Major Key Players like 3M Corporation (US), Optum Inc. (US), Cerner Corporation (US)

The Major Factors such as increasing focus on risk management solutions in the healthcare industry and rising implementation of big data solutions are driving the market for clinical risk grouping solutions. Increasing instances of physician burnout due to clinical documentation and a shift towards software based on AI and machine learning also present significant growth opportunities for market players.

What the Market Looks Like?

Predicted to grow at a CAGR of 14.2% during the forecast period, the global Clinical Risk Grouping Solutions Market is estimated to reach USD 829 million by the end of 2024. In 2019, The Asia Pacific is expected to be the fastest-growing the market.

Based on the product, the Clinical Risk Grouping Solutions Market is segmented into scorecard & visualization tools, dashboard analytics, and risk reporting solutions. The scorecard & visualization tools segment accounted for the largest share of the market in 2018. The large share of this segment can be attributed to the high usage of risk attributing and risk scoring usage in clinical risk grouping solutions.

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Based on end-user, the Clinical Risk Grouping Solutions Market is segmented into hospitals, payers, ambulatory care centers, long-term care centers, and other end-users. In 2018, hospitals accounted for a major share of the market, mainly due to higher adoption and usage of clinical risk grouping solutions by hospitals as well as better infrastructure to support the clinical risk grouping solutions.

What Drives the Market?

The growth of the global market for Clinical Risk Grouping Solutions is primarily influenced by the following factors:

• Advantages of Risk Management Solutions
• Rising Usage of Big Data Solutions
• Increasing Focus on AI and Machine Learning

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Geographical growth scenario of Clinical Risk Grouping Solutions Market:

In 2018, Asia Pacific was seen as the fastest-growing region in the Clinical Risk Grouping Solutions Market. The ease of doing business in Asia Pacific in terms of reduced regulatory stringency, increasing adoption of healthcare IT solutions along with a large population base demanding quality care at a lower price in these countries are some of the key factors driving growth in this region.

Leading market players and strategies adopted:

The prominent players in the Clinical Risk Grouping Solutions Market include 3M Corporation (US), Optum Inc. (US), Cerner Corporation (US), Conduent Inc. (US), Nuance Communications (US), Health Catalyst (US), HBI Solutions (US), Johns Hopkins University (US), Lightbeam Health Solutions (US), Dynamic Healthcare Systems (US), 4S Information Systems (US), Evolent Health (US) and Pera Health (US).

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