Technologies and Services Market

The Global Preventive Healthcare Technologies and Services Market size is estimated to be valued at US$ 275.29 Bn in 2024 and is expected to exhibit a CAGR of 10. % over the forecast period 2024 To 2031.

Preventive healthcare aims to prevent diseases, disorders or injuries through proactive measures including healthy lifestyle habits, routine health check-ups, immunization, and screening tests. Preventive healthcare technologies and services include immunization, screening tests, and genetic tests to detect the possibility of developing any disease at an early stage. Early detection and screening can help diagnose and subsequently provide treatments for diseases like cancer and cardiovascular disorders, which increases the chances of successful treatment. The demand for preventive healthcare is increasing due to rising healthcare costs and growing awareness among people regarding early detection and prevention of diseases. Preventive healthcare helps reduce disease severity, medical costs, and prevents premature deaths. Telehealth and telemedicine have emerged as effective tools for preventive healthcare delivery during the pandemic.

Key Takeaways

Key players operating in the Global Preventive Healthcare Technologies and Services are Healthlane, Abbott, GSK plc, Myriad Genetics, Omron Healthcare Inc., Quest Diagnostics, Pfizer, Inc., Merck & Co., Inc., Omnicell, Novx Systems, Corp., U-Systems, Ltd., Viatronix, Inc., Scripto LLC, Lifecom, Inc., Dilon Medical Technologies, Inc., and McKesson Corporation.

The increasing prevalence of chronic diseases and rising healthcare costs have accelerated the demand for preventive healthcare. According to the World Health Organization, 63% of all deaths globally are due to non-communicable diseases. This has compelled people to focus on early detection and prevention of these diseases.

Technological advancements have enabled innovations in preventive healthcare. Technologies like AI, cloud, predictive analytics, and remote patient monitoring are enabling more effective predictive, preventive and population health management programs. Wearable devices are effectively used for real-time monitoring of vital signs and detecting possible health issues in early stages.

Market Trends

- Growing adoption of digital health tools: Telehealth and telemedicine have picked up tremendously and are expected to remain important channels for preventive healthcare delivery. Digital innovations will further drive market growth.

- Personalized preventive healthcare: Technologies like genetic testing, whole genome sequencing, and molecular diagnostics enable customized preventive care plans tailored to individual risks, helping deliver more effective outcomes.

Market Opportunities

- Untapped emerging markets: Preventive healthcare spending is much lower in developing nations compared to developed countries. Growing health awareness and improving access in emerging markets will open up new opportunities.

- Integration of preventive healthcare into employee wellness programs: Companies are focusing more on preventive healthcare for employees to boost productivity and reduce indirect medical costs. This trend will favor market expansion.

Impact of COVID-19 on Global Preventive Healthcare Technologies And Services Market Growth

The outbreak of COVID-19 pandemic has significantly impacted the growth of preventive healthcare technologies and services market globally. The demand for preventive healthcare has increased significantly during the pandemic as people aimed to boost their immunity and adopt preventive measures to reduce the risks of contracting the virus. Various healthcare providers and government organizations emphasized on the importance of early detection, diagnosis and prevention of diseases. This led to surge in demand for preventive healthcare screening tests, devices and services. However, the market also witnessed certain challenges owing to lockdowns and restrictions imposed across various countries during the peak of pandemic. This disrupted the supply chains and operations of various market players. With easing of lockdown measures and increasing vaccination rates, the market is witnessing traction again. Several initiatives are being undertaken by public as well as private organizations to promote preventive healthcare and facilitate early diagnosis post pandemic which is anticipated to fuel the market growth over the forecast period. The key strategies needed to be considered are increasing investments in digital health technologies, developing affordable preventive healthcare solutions and raising awareness about importance of prevention among masses.

United States accounts for largest share in Global Preventive Healthcare Technologies And Services Market Regional Analysis

The United States accounts for the largest share in the global preventive healthcare technologies and services market in terms of value. This is majorly attributed to factors such as presence of advanced healthcare infrastructure, rising healthcare expenditure, growing prevalence of chronic diseases, availability of skilled medical professionals and supportive government initiatives towards prevention. The country is continuously witnessing high demand for preventive healthcare screening tests, devices, digital health tools, vaccines and other services. Furthermore, presence of key market players, funding for research & development activities and growing health awareness among population are positively impacting the market growth in the region. The US market is expected to witness significant growth rate over the forecast period, driven by increasing adoption of digital health technologies, predictive analytics, personalized medicine and emphasis on early disease detection post COVID scenario.

China is emerging as the fastest growing region in Global Preventive Healthcare Technologies and Services Market

China is considered as the fastest growing regional market for preventive healthcare technologies and services globally. Factors such as growing geriatric population, improving healthcare infrastructure, rising per capita healthcare expenditure, government support for preventive healthcare initiatives and increasing penetration of digital health technologies across the country are propelling the market growth. Government is undertaking several programs to promote preventive healthcare services, screening test facilities, vaccination programs and digital healthcare transformation, which is positively impacting the market growth. Rising chronic disease burden, unmet medical needs in lower tier cities and growing focus of private players are expected to offer significant growth opportunities. Rapid adoption of advanced healthcare devices, big data analytics, artificial intelligence and digital diagnostics are anticipated to drive the market over the forecast period in China.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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