by The global preventive healthcare technologies and services market comprises products and services such as early detection screening tests, vaccinations, and disease prevention tools. Detecting diseases at early stages improves treatment outcomes and reduces healthcare costs in the long run.
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 from 2024 To 2031.
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. Key players are focusing on developing advanced screening tests to identify diseases at early stages. The global market offers opportunities for players to expand their suites of preventive healthcare products and services, grow their geographic presence, and benefit from the increasing focus on disease prevention. There is high potential for growth in emerging markets as awareness about preventive healthcare increases in these regions.
Market Drivers
Increasing focus on disease prevention and health management is a key market driver. Rising healthcare costs and growing incidence of chronic diseases worldwide are compelling countries and individuals to adopt preventive healthcare approaches. Governments across countries are promoting screening programs with an aim to curb rising healthcare expenditures associated with advanced disease treatment in the long run. Growing health awareness, medical advancements in early detection, and predictive analytics are also supporting the adoption of preventive healthcare technologies and services globally.
PEST Analysis
Political: Preventive healthcare technologies and services are subject to regulations set by governments with respect to patient privacy and data security. Regulations influence the adoption of new preventive healthcare technologies.
Economic: Growing healthcare costs have increased demand for preventive care services which can help reduce future treatment costs. Higher disposable incomes also allow more people to avail these technologies and services.
Social: Rising health awareness and focus on wellness is driving people to opt for routine health checks and preventive measures. Lifestyle diseases have increased focus on prevention.
Technological: Advancements in fields like genomics, mobile health devices, big data and artificial intelligence are enabling more effective preventive care services. Wearables and mobile apps allow remote monitoring of health parameters.
Global Preventive Healthcare Technologies And Services Market Regional Analysis
North America dominates the market in terms of value currently due to high healthcare spending and quick adoption of new technologies. Presence of major players and advanced healthcare infrastructure support market growth. Europe is another major revenue generator due to favorable government policies for prevention.
Fastest Growing Region
Asia Pacific region is expected to witness highest growth during the forecast period driven by growing medical tourism, increasing disposable incomes, rising awareness about preventive care and advancements in technologies in countries like China and India. Initiatives by governments and private players are also boosting adoption of preventive healthcare solutions in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
