Global Social Determinants of Health Market Projected To Witness Substantial Growth, 2024-2031

The Global Social Determinants of Health Market is estimated to be valued at US$ 18.6 Bn in 2024 and is expected to exhibit a CAGR of 18.3% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Key Market Dynamics: The global social determinants of healthcare market are expected to grow significantly this is due to the increasing adoption of value-based care models by payers and healthcare providers. Value-based care aims to improve patient outcomes and reduce healthcare costs by focusing on the social and environmental factors that influence public health outcomes. This has increased focus on addressing social risk factors through community partnerships and social interventions.

Moreover, increasing government initiatives aimed at addressing social determinants of health is another key factor driving growth of the market For example, the Centers for Medicare and Medicaid Services (CMS) emphasizes reimbursement based on quality and outcomes rather than quantity of care provided.

Key Market Trends: Trends in data integration and analysis one of the key trends in the social determinants of healthcare market is the increasing adoption of advanced data integration and analytics solutions.

These solutions help organizations collect and analyse multidimensional data from sources such as EHRs, claims databases social care records and other information sources to provide insights into factors affecting patient health this plays an important role in developing targeted intervention programs.

Trends in community network participation Another important trend is a greater focus on engaging and developing community networks to address socioeconomic barriers to accessing health care. Major market players cooperate with local organizations such as schools, rural health centres. Food banks and religious groups to design and deliver culturally sensitive projects at the community level. This is expected to greatly improve long-term health outcomes.

Data Integration: Data integration involves combining clinical, social, and behavioral datasets to uncover relationships between medical issues and socioeconomic influences. This gives insights into how social challenges like poverty, unemployment, and community resources impact health. Integrated views facilitate predicting disease risks and designing customized care plans. For example, integrating patient clinical records with public datasets on income, education, transport, and safety aids chronic disease management. Data from diverse sources provide a 360-degree understanding of health barriers beyond medical conditions.

Population Health Management: Population health management uses aggregated patient data to monitor the health of a defined group over time. Analytics on sociodemographic indicators within geographic areas helps prioritize high-risk populations. Interventions address their social risks through community-based programs. This shifts focus from treating illness to preventing disease. Outcome-based payment models also incentivize providers to optimize population wellness. Social determinants data is crucial for segmenting populations, risk-stratifying, and ensuring resources reach those most in need.

Key Market Takeaways: The global social determinants of health market is anticipated to witness a CAGR of 18.3% during the forecast period 2024-2031, owing to growing emphasis on holistic healthcare.

By type, the clinical data segments such as electronic health and medical records is expected to hold a dominant position, owing to increasing digitization in the healthcare industry.

By application, the population health management segment is expected to hold a dominant position over the forecast period, due to the ability to monitor populations and improve health outcomes.

Regionally, North America is expected to hold a dominant position over the forecast period, due to advanced digitization and focus on value-based care models in the region.

Competitor Insights: Cancer IQ, Health Catalyst, Signify Health, Allscripts Healthcare Solutions

Recent Developments in Global Social Determinants of Health Market

Expanded Data Collection and Analysis

To develop effective interventions, there is a need for more granular data on social risks and their health impacts. In 2023-2024, expect to see expanded efforts to systematically collect socioeconomic, behavioral, and environmental metrics within electronic health records. Researchers are also exploring new methods like aggregating anonymized smartphone usage patterns to infer stress levels, social isolation, and other psychosocial factors affecting populations. With advances in data linking across sectors, organizations will gain unprecedented insights into how policies and community conditions shape public health outcomes on a regional level. These capabilities are essential to prioritizing resources and measuring the true impact of efforts to address social determinants.

New WHO Commission Studies Social Determinants

In June 2023, the World Health Organization launched a new Commission on the Social Determinants of Health. Led by political and scientific leaders from around the world, the commission’s goal is to study examples of effective social programs and policies that have made measurable differences to health equity. Over the next year, the commission will release reports highlighting case studies of areas that have successfully addressed issues like inadequate housing, food insecurity, and environmental pollutants known to harm public health. Their findings are aimed at informing the development of new WHO guidelines on social determinants to be issued in 2025.

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