Social determinants of health market

Market Overview

The social determinants of health market has become increasingly vital in promoting improving outcomes across population. These determinants have wide array of factors that affect individuals’ health extending beyond traditional healthcare services. The impact of SDOH on health outcomes is profound and multifaceted. Individuals with low level of education and income has experienced high rates of chronic diseases like diabetes and heart disease. Those with higher education and income levels tend to enjoy better overall health outcomes and economic factors, issues such as discrimination, violence, and social isolation also play significant roles in shaping physical and mental health. Privacy concerns and the responsible use of sensitive personal data are paramount in development and deployment of SDOH by focusing on improving social and economic conditions alongside traditional healthcare services their ethical use and consideration of privacy concerns are essential for their effective deployment in healthcare.

Social determinants of health market Size

Report	Details
Market Size Value	USD 5.57 Billion in 2023
Market Size Value	USD 18.06 Billion by 2032
CAGR	19.40%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020

Major vendors in the social determinants of health market are: Arcadia Group, AMERIHEALTH CARIRAS, CancerIQ, Oracle, TransUnion LLC, Signify Health, Elevance Health, NowPow, Medecision, Lumeris, Lightbeam, Innovaccer Inc, WELLSKY, Blue Cross Blue Shield Association, HealthEC LLC, Health Catalyst and Others.

Increasing awareness and recognition of SDOH

The rise in awareness and recognition of social determinants of health is important for shaping healthcare strategies and enhance all well-being. This includes educating healthcare providers, policymakers and the influence of non-medical factors such as income, housing, and social support on health outcomes. Due to this the increasing awareness, healthcare professionals can identify and address these underlying factors such as patient care, it will lead to more personalized and effective treatment and public awareness plays an important role in systemic changes that tackle the root causes of health inequalities so when individuals understand how social factors impact health, they are more likely to support policies and community interventions aimed at improving social conditions and healthcare access for everyone.

Market Dynamics

Drivers:

• Digital technology adoption and advancement
• Government investment in social determinants of health
• Increasing awareness and recognition of SDOH

Opportunities:

• Increasing research and development activities
• Rise in healthcare expenditure
• Forming social impact partnership

Rise in healthcare expenditure

The social needs within clinical practices as part of preventive healthcare presents a significant opportunity in the social determinants of health (SDOH) market. By integrating screenings and interventions for social risk factors like housing instability and financial insecurity, healthcare providers can proactively tackle underlying issues before they escalate. This approach not only enhances the effectiveness of healthcare by preventing chronic conditions but also reduces long-term healthcare costs. It improves access to essential healthcare services for underserved populations who face barriers such as affordability of doctor visits and medications.

Embracing a holistic care approach that combines clinical and social services ensures that patients basic needs, such as food and shelter, are met. By integrating social determinants into preventive strategies, healthcare providers can better manage population health and align with policies emphasizing value-based care and equity. This approach fosters innovation through partnerships with community organizations and social service agencies, leveraging data insights to optimize interventions and advance health equity for all. Addressing social determinants in clinical prevention not only improves individual health outcomes but also contributes to creating healthier communities overall.

The market for social determinants of health market is dominated by North America.

The North American social determinants of health market are the main leader. United States is the main player from the North American market because of the increase in awareness of the SDOH influence on health outcomes and growing focus on reducing health disparities have fueled market growth. Government initiatives promoting SDOH consideration by healthcare providers leads to North America dominant position. Some large cities such as U.S. and Canada has innovative programs that target the social risk factors such as transportation, housing and education.

The Asia Pacific region shows the highest CAGR for Social Determinants of Health as the government realizes that socioeconomic factors are important in diseases such as diabetes, respiratory illness and cardiovascular conditions are superior in Asia Pacific and this region also faces challenges of rapid urbanization and aging population that impact community well-being and this causes the rapid expansion in this region.

The economic stability segment is anticipated to hold the largest market share during the forecast period

The social determinants of health show a major growth in economic stability from the type segment as it shows the significant growth opportunity in the economic stability segment. Economic stability has an important role in determining the health and well-being of a person as it shows the affordability for quality medical care and life choices that keeps people healthy. So, because of growing need for interventions and solutions that shows economic stability as social determinants of health the economic stability shows the highest growth rate. The education segment shows the highest CAGR as it is influenced by the social determinants of health due to the active involvement of parent in children’s education and also social attitudes to the education as gender discrimination and expectations influence the educational attainment and participation rates.

Major Segmentations Are Distributed as follows:

• By Type:
  • Social Context
  • Economic Stability
  • Environment Education
  • Food Insecurity
• By Application:
  • Consent Management
  • Authentication
  • Privacy
  • Authorization
  • Patient Matching
• By End User:
  • Payers
  • Providers
• By Key Players:
  • Arcadia Group
  • CancerIQ
  • Oracle
  • TransUnion LLC
  • Signify Health
  • Elevance Health
  • NowPow
  • Medicision
  • Lumeris
  • Lightbeam
  • WELLSKY
  • Blue Cross Blue Shield Association
  • HealthEC LLC
  • Health Catalyst
• By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Latin America
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • Netherlands
    • Switzerland
    • Russia
    • Rest of Europe
  • Asia Pacific

• • China
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Australia
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific

• • Middle East & Africa

• • Saudi Arabia
  • South Africa
  • Egypt
  • Israel
  • UAE
  • Nigeria
  • Turkey
  • Rest of MEA

 Recent Developments

• March 2022, WellSky and Southeastern Michigan Health Association (SEMHA) team up to work on projects to increase awareness in social determinants of health in Michigan, U.S.
• December 2021, TransUnion announced that it has completed the sale of TransUnion Healthcare to nThrive. It is a leading healthcare revenue cycle management software-as-a-service platform backed by the Clearlake Capital Group.
• October 2020, Gohealth a insurance company did partnership with aunt bertha software company to address social determinants of health (SDOH).

Answers to Following Key Questions:

• What will be the social determinants of health market Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the social determinants of health market?
• What are the main forces behind worldwide social determinants of health market? Which companies dominate social determinants of health market?
• Which companies dominate social determinants of health market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Insight Engines industry's suppliers' opportunities and dangers in social determinants of health market
• What is the Insight Engines industry's regional sales, income, and pricing analysis? In the social determinants of health market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the social determinants of health market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for social determinants of health market?
• What are the dominant revenue-generating regions for social determinants of health market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main social determinants of health market trends that are influencing the market's expansion?
• Which key product categories dominate social determinants of health market? What is social determinants of health market main applications?
• In the coming years, which social determinants of health market technology will dominate the market?