The global social determinants of health market consist of solutions that helps healthcare organizations to identify and address social barriers like housing, employment, food security, violence etc. that influences people's health outcomes. Social determinants data help providers enhance patient's experience by gaining deeper insights into their living conditions and tailor care plans accordingly. It also assists health plans to develop wellness programs and pinpoint communities lacking resources.
The market is estimated to be valued at US$ 5.57 BN in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 To 2031 due to growing significance of social and behavioral factors in chronic disease management.
Key Takeaways
Key players operating in the global social determinants of health are Healthify, Innovaccer Inc., Interpreta, 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. These companies are focusing on developing AI-powered platforms and tools to screen populations for social risk factors, connect patients to resources and help healthcare providers address health inequities.
Key opportunities in the market include growing deployment of value-based care models among healthcare payers and providers. It is driving increased adoption of Global Social Determinants Of Health Market Demand solutions to enhance care coordination and outcomes. There is also a growing need to address social barriers and improve health equity among underserved communities. This presents an opportunity for vendors to partner with community organizations and governments.
Global expansion is another key growth area as players look to penetrate developing international markets. For instance, in 2023 Optum signed a deal with Saudi Health Ministry to deploy its social care management platform to streamline resource allocation and scale community health services. Other players are also eyeing opportunities in Asia Pacific and Latin American regions driven by rising healthcare expenditures and focus on population health.
Market drivers:
- Growing emphasis on preventive care models and population health management is a key driver. It is fueling investments in tools that help healthcare organizations identify and address social risk factors.
- Increased availability of social and behavioral data is propelling market growth. Sources like Medicaid claims, health surveys, social services databases provide deep insights into social barriers faced by patients.
Market restraints:
- Lack of data integration standards is a major challenge. Social risk data is fragmented across multiple sources making it difficult for platforms to consolidate information.
- Underdeveloped social services infrastructure in some regions also restrict the scope of interventions. Social determinants solutions work best when paired with robust community resources.
Segment Analysis
This market can be broadly segmented into data management solutions, data collection & management opportunities, and data as a service. The dominant sub-segment is data management solutions as it provides ways to aggregate and analyze patient data from different sources such as EHRs, insurance claims, and social determinants of health data to identify at-risk populations and implement proactive care management programs. This helps identify gaps in care and reduce unnecessary costs.
Global Analysis
Regionally, North America dominates the market currently due to supportive government initiatives and high awareness regarding the role of social determinants in population health management. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to improving healthcare infrastructure and increasing focus of emerging economies in this region on value-based care and population health management. Furthermore, initiatives such as digital India are encouraging adoption of advanced healthcare IT solutions including those addressing social determinants of health.
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