The global social determinants of health (SDOH) market size was USD XX in 2022 and is likely to reach USD XX by 2031, expanding at a CAGR of XX% during 2023–2031. Increase in healthcare costs and the presence of government mandates are likely to boost the market.
Social determinants of health (SDOH) refer to the conditions in which people are born, live, age, grow, and work, and they include a wide range of factors that influence health outcomes. These determinants include socioeconomic status, education, housing, access to healthcare, and social support networks.
Research has shown that these social determinants have a significant impact on an individual’s health outcomes. For example, people with reduce levels of education and income are more likely to experience chronic health conditions such as diabetes and heart disease and high rates of infant mortality, while those with higher levels of education and income tend to have better health outcomes.
Other social determinants of health (SDOH) include discrimination, violence, and social isolation, which can all have negative impacts on an individual’s physical and mental health. Understanding and addressing these social determinants of health is crucial for promoting health equity and reducing health disparities in populations.
The market report finds that the COVID-19 Pandemic has propelled the market. SDOH plays an important role in improving the health of millions of people.
Social Determinants of Health Market Dynamics
Major Driver
Increasing awareness about SDOH in healthcare is expected to drive the market, as it has shown to have more impact on health and an individual’s well-being than factors such as behavior, biology, and medical care.
Rising government investments further influence the SDOH solutions and is expected to drive the social determinants of health market, as it is good for the consumer and economic stability. However, rise in SDOH healthcare expenditures, high demand for expanded care delivery, and advancements in healthcare infrastructure are boosting the market.
Restraints
High cost of healthcare products is expected to hinder the market, due to the complexity of adding new SDOH data to clinical protocols. However, concerns regarding the SDOH implementation, issues & complexities, and increasing security & privacy are restraining the market.
Opportunities
Increasing research & development (R&D) activities, especially in developed and developing countries, is expected to create lucrative opportunities for the market players. Need for robust SDOH data as it is utilized by developing new analytical models is anticipated to create lucrative opportunities for the market players.
Scope of Social Determinants of Health Market Report
The market report includes research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Social Determinants of Health Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Social Context, Economic Stability, Environment, Food Insecurity, Education, and Healthcare Systems), Application (Authorization, Consent Management, Authentication, Privacy, and Patient-matching), and End-user (Payers and Providers)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Social Determinants of Health (SDOH) Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Arcadia Group; AMERIHEALTH CARITAS; CancerIQ; Oracle; Color Health, Inc.; Cedar Gate Technologies; Health Catalyst; HealthEC, LLC; WELLSKY; Blue Cross Blue Shield Association; Innovaccer, Inc.; Lightbeam; Lumeris; Medecision; NowPow; Elevance Health; Optum, Inc.; Orion Health group of companies; Signify Health; CVS.com; and TransUnion LLC.
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Social Determinants of Health Market Segment Insights
Type Segment Analysis
Based on type, the social determinants of health market is divided into social context, economic stability, environment, food insecurity, education, and healthcare systems. The healthcare systems segment is expected to expand at a significant pace during the projection period, due to the increasing number of initiatives to address SDOH within and outside of the healthcare systems.
Application Segment Analysis
On the basis of application, the market is segregated into authorization, consent management, authentication, privacy, and patient-matching. The patient-matching segment is projected to register a considerable CAGR during the forecast period, as it quickly and efficiently offers strategic advantages to integrate social determinants to health data. This patient-matching technology help organizations identify at-risk individuals and reduce readmissions among vulnerable populations.
End-User Segment Analysis
On the basis of end-user, the market is segregated into payers and providers. The payer's segment is expected to register a robust growth rate during the forecast period. In the healthcare industry, payers are organizations such as Medicare, health plan providers, and Medicaid that set service rates, process claims, and collect payments, among others. Payers are usually not the as same as providers.
Regional Analysis
In terms of region, the global social determinants of health market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the presence of a well-established SDOH healthcare facility and the presence of major key players in the region.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, owing to the increase in government initiatives for SDOH, rising demand for quality healthcare, and growth of the medical tourism industry in the region.
Segments
The global social determinants of health market has been segmented on the basis of
Type
- Social Context
- Economic Stability
- Environment
- Food Insecurity
- Education
- Healthcare Systems
Application
- Authorization
- Consent Management
- Authentication
- Privacy
- Patient-matching
End-user
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Arcadia Group
- AMERIHEALTH CARITAS
- CancerIQ
- Oracle
- Color Health, Inc.
- Cedar Gate Technologies
- Health Catalyst
- HealthEC, LLC
- Blue Cross Blue Shield Association
- WELLSKY
- Innovaccer, Inc.
- Lightbeam
- Lumeris
- Medecision
- NowPow
- Elevance Health
- Optum, Inc.
- Orion Health group of companies
- Signify Health
- CVS.com
- TransUnion LLC.
Competitive Landscape
Key players competing in the global social determinants of health market are Arcadia Group; AMERIHEALTH CARITAS; CancerIQ; Oracle; Color Health, Inc.; Cedar Gate Technologies; Health Catalyst; HealthEC, LLC; WELLSKY; Blue Cross Blue Shield Association; Innovaccer, Inc.; Lightbeam; Lumeris; Medecision; NowPow; Elevance Health; Optum, Inc.; Orion Health group of companies; Signify Health; CVS.com; and TransUnion LLC.
These key players are adopting various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to expand their consumer base globally.
- In March 2022, WellSky partnered with the Southeastern Michigan Health Association (SEMHA). The companies are likely to pool their initiatives that target and raise awareness for social determinants of health to achieve better health outcomes in communities in Michigan, the US.
- In December 2021, TransUnion announced that it has completed the sale of TransUnion Healthcare, Inc. to nThrive, Inc. It is a leading healthcare revenue cycle management software-as-a-service (SaaS) platform backed by Clearlake Capital Group, L.P. for USD 1.735 Billion in cash.