Social Determinants of the Health Market Size is valued at USD 5.61 Bn in 2023 and is predicted to reach USD 19.83 Bn by the year 2031 at a 17.39% CAGR during the forecast period for 2024-2031.
Social determinants of health are the environmental conditions of people that affect their health, well-being, and quality of life. Financial security, education, healthcare, neighborhood and built environment safety, and social and community networks are the main determinants. Highlighting the importance of factors outside the traditional healthcare system, such as employment, education level, community safety, and social support, in shaping health outcomes, SDOH are essential for addressing health disparities. Effective intervention to improve SDOH requires collaborative efforts across various sectors, including but not limited to healthcare, education, housing, and environmental planning, aiming to tackle the foundational causes of health inequalities and promote health equity.
Market growth may also be driven by government investments in socioeconomic determinants of health.The federal government's increased investment for these solutions benefits customers and the economy, affecting the market. Health care expenditure increases, infrastructure improvements, and demand for extended care delivery also boost the SDOH industry. Social determinants of the health market are expected to be included as global monitoring operations increase. Treatment research funding has driven Social Determinants of Health market growth in recent years.
Competitive Landscape
Some Major Key Players In The Social Determinants of the Health Market:
- Arcadia Group
- Cancer IQ
- Cerner Corporation
- Color
- Enli Health Intelligence
- Geneia LLC
- Health Catalyst
- HealthEC
- Healthify (WellSky)
- Innovaccer Inc.
- Interpreta
- Lumeris
- Medecision
- NowPow
- Optum
- Orion Health
- Signify Health
- TransUnion Healthcare
- Other Prominent Players
Market Segmentation:
The social determinants of health (SDOH) market is segmented based on type, end-user, and application. Based on type, the social determinants of health (SDOH) market is segmented into economic stability, food insecurity, social context, environment, education, and healthcare systems. Based on end-users, the social determinants of health (SDOH) market is segmented into payers and providers. On the basis of application, the social determinants of health market is segmented into authentication, authorization, person-matching, consent management, and privacy.
Economic Stability Is A Major Segment In The Social Determinants Of The Health Market.
The employment status of an individual is a determinant of their economic stability. Appropriate compensation ensured by gainful employment prevents food insecurity, housing instability, and destitution. In the Economic Stability segment of the Social Determinants of Health (SDOH) market, solutions address factors influencing health outcomes, such as employment, income, and housing stability. Companies like Bright Health, Zipnosis, and Solera Health provide platforms integrating financial wellness programs, job placement services, and affordable housing initiatives. These offerings empower individuals and communities to access resources vital for economic security, thereby contributing to improved health and well-being outcomes.
Another Major Market Segment Is The Education Segment.
Economic stability and education are well-connected. Early childhood development and education are important, apart from high school education, higher education, language development, and more. Companies such as Khan Academy, EVERFI, and Healthify offer solutions ranging from online educational platforms to community-based tutoring programs. Promoting lifelong learning opportunities and improving educational access aims to empower individuals as well as communities to make informed health decisions & achieve better overall health outcomes.
North America Has A Significant Revenue Share In The Global Social Determinants Of Health Market Region.
North America has established itself as the dominant region, having a major market share in the global Social Determinants of Health market. North America has dominated the global social determinants of the health market for several years now. The region is home to many leading healthcare organizations and government institutions that are doing pioneering work in addressing social issues impacting public health outcomes. Several large cities in the U.S. and Canada have implemented innovative programs targeting social risk factors like housing, transportation, education, and employment.
Recent Developments:
- In Aug 2021, The integration of Cerner EHR utilized health IT to identify social determinants of health (SDOH) factors. Cerner's most recent electronic health record (EHR) integration employed health information technology (IT) to identify social determinants of health risk factors and suggested possibilities for healthcare providers to intervene.
- In Sept 2022, WellSky, a prominent healthcare and community care technology business, has announced its substantial involvement in the nationwide initiative to enhance access to and streamline the sharing of social determinants of health (SDoH) information across various care settings. Later that day, WellSky's dedication was acknowledged at the White House Conference on Hunger, Health as well as Nutrition.
Social Determinants of the Health Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5.61 Bn |
|
Revenue Forecast In 2031 |
USD 19.83 Bn |
|
Growth Rate CAGR |
CAGR of 17.39% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Application, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Innovaccer Inc., Interpreta, and Lightbeam. Lumeris, Medecision, NowPow, Optum, Orion Health, Signify Health, Arcadia Group, Cancer IQ, Cerner Corporation, Enli Health Intelligence, Geneia LLC, Health Catalyst, and HealthEC, LLC. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
