Global Preventive Healthcare Technologies And Services is Anticipated to Witness High Growth Owing to Increasing Focus on Preventive Care

Global Preventive Healthcare Technologies And Services is Anticipated to Witness High Growth Owing to Increasing Focus on Preventive Care

The global preventive healthcare technologies and services market is growing at a fast pace owing to the increasing focus on preventive care and wellness by population across the world. Preventive healthcare technologies and services help to reduce incidences of chronic and infectious diseases by diagnosing potential health issues at an early stage. This market comprises products and services such as screening and diagnostics equipment, digital health and telemedicine solutions, population health management solutions, and vaccinations. The growing prevalence of chronic diseases, unhealthy lifestyles, advancements in medical technologies and digital health, and supportive government initiatives are fuelling the demand for preventive healthcare globally.

 Global Preventive Healthcare Technologies And Services Market 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 helps lower healthcare costs by minimizing critical health issues early on. Growing awareness about prevention and wellness is driving more people to opt for preventive screening, vaccinations, and remote monitoring.

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. These key players are investing heavily in R&D activities to develop advanced technologies and solutions to enhance diagnosis capabilities.

There are significant opportunities for players in this market owing to increasing healthcare expenditure globally and growing focus on value-based care. Development of innovative digital technologies, telehealth solutions, population health management platforms, and integrated care models present lucrative growth prospects.

North America dominates the global preventive healthcare technologies and services market. However, Asia Pacific is expected to witness the highest growth over the forecast period supported by rapid economic development, evolving healthcare infrastructure, rising incidences of chronic diseases, and growing medical tourism in countries such as China, India, and Japan.

Market Drivers

Rising geriatric population prone to chronic diseases such as cancer, heart diseases, and diabetes is a major driver of the global preventive healthcare technologies and services market. According to WHO, the number of people aged 65 years and above is projected to grow from 524 million in 2010 to nearly 1.5 billion in 2050. This is expected to significantly increase the demand for preventive healthcare solutions.

Market Restrain
High costs associated with advanced preventive healthcare technologies and services is a major challenge hampering the market growth. Technologies such as genome sequencing, advanced screening equipment, integrated population health management platforms require substantial investments limiting widespread adoption. Moreover, lack of health insurance in some developing countries further discourages people from opting for costly preventive care options.

Segment Analysis

The global preventive healthcare technologies and services market is dominated by disease prevention segment. It accounts for over 50% of the total market share owing to increasing prevalence of chronic diseases worldwide. Health monitoring devices/ equipment and wellness programs sub segments have also witnessed significant growth in recent years. Growing awareness about importance of maintaining good health and early detection of diseases have boosted demand for personal health monitoring devices like blood pressure monitors, glucose meters etc. Corporate wellness programs targeting employees' health are being adopted by large organizations to reduce healthcare costs and increase productivity.

Global Preventive Healthcare Technologies And Services Market Regional Analysis

North America region leads the preventive healthcare technologies and services market with highest revenue share. Presence of advanced healthcare infrastructure, high per capita healthcare spending and favourable government policies have driven the market in the region. Asia Pacific region is forecast to witness fastest growth during the forecast period. Rapid economic development, growing middle class population and improving healthcare access are some key factors supporting market expansion in the Asia Pacific region especially in countries like China and India. Furthermore, rising health consciousness and growing focus on fitness are influencing demand for preventive healthcare services and devices across major APAC economies.

View More Insight @   Preventive Healthcare Technologies and Services Market

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)