Global Preventive Healthcare Technologies And Services Market will grow at highest pace owing to rising geriatric population
The Global Preventive Healthcare Technologies And Services Market comprises products and solutions that assist in health risk assessment, disease screening, lifestyle management, and provide preventive care to reduce the risk of chronic diseases. Preventive healthcare technologies include devices and solutions such as cancer screening, vaccination, early detection and prevention of infectious diseases, lifestyle coaching, dietary supplements, and equipment for risk assessment of cardiovascular, dental and vision screening.
The Global Preventive Healthcare Technologies And Services Market is estimated to be valued at US$ 556.64 Bn in 2024 and is expected to exhibit a CAGR of 10. % over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Preventive Healthcare Technologies And Services Market Growth 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 growing needs for early diagnosis and treatment of chronic diseases along with rising healthcare costs have boosted the demand for preventive healthcare solutions globally. Technological advancements in health risk assessment tools, genetic testing, nutrition monitoring, and digital health solutions have enabled improved disease prevention and patient outcomes.
Market trends
The Global Preventive Healthcare Technologies And Services Market Growth is witnessing increasing adoption of digital health solutions such as mobile health apps, telehealth, and remote patient monitoring devices for preventive care. Furthermore, block chain technology is gaining traction for securely storing and sharing patients’ health records to enable collaboration between payers, providers and life sciences companies. The use of AI and analytics is also growing to generate personalized prevention plans and predict disease risk levels based on patients’ genetic profiles and lifestyle behaviors.
Market Opportunities
The rising geriatric population vulnerable to chronic diseases and government initiatives to promote preventive healthcare present significant growth opportunities. Developing economies in Asia Pacific and Latin America with growing medical capabilities and healthcare expenditures represent lucrative markets. Innovation of integrated solutions combining personalized genetic screening, digital tools, and clinical programs can enable superior disease prevention and management.
The impact of COVID-19 on the global preventive healthcare technologies and services market:
The COVID-19 pandemic severely impacted the growth of the global preventive healthcare technologies and services market. During the initial outbreak, focus shifted away from preventive care towards testing, treatment, and vaccine development for COVID-19. Regular checkups, health screenings, and routine medical exams were postponed or delayed to avoid overburdening the healthcare system. This led to a decline in demand for preventive healthcare services in 2020. However, as the pandemic intensified awareness about the importance of a strong immune system and overall well-being increased. People recognized that prioritizing preventive care is crucial to build resilience against viruses. As restrictions eased in 2021, the market is witnessing a rebound as individuals are now more inclined towards preventive healthcare to reduce susceptibility to infections.
Key players are focusing on developing novel solutions for remote patient monitoring, digital health records, prescription management, chronic disease management, vaccinations, and telehealth/virtual consultations. The growing application of digital technologies, wearables, apps, telemedicine is helping provide contactless preventive services and bridging the gap caused due to lockdowns. Market players are also expanding global partnerships and collaborations to accelerate vaccine research and scale-up production. Governments worldwide are implementing initiatives to strengthen public health infrastructure, pandemic preparedness, expand health insurance coverage which will boost long-term sustainable growth of this market in the post-COVID era.
In terms of value, North America dominated the preventive healthcare technologies and services market in 2024, accounting for over 35% share. Strong economic conditions, rapid technological advancements, growing chronic disease burden, and favorable healthcare policies have propelled market growth in the region. Asia Pacific is projected as the fastest growing market during the forecast period. Rising medical expenditures, increasing focus on lifestyle diseases, growing middle-class population, and improving access to services are some major factors fueling market expansion in Asia Pacific countries like China and India.
Europe captures the second largest market share and countries like Germany, U.K., France are major revenue generators. Presence of stringent regulations driving adoption of personalized medicine approaches and digitization is aiding market growth in Europe. On the other hand, Latin America and Middle East & Africa represent immense untapped opportunities. Initiatives by private and public organizations to enhance public health outcomes through preventive care adoption in these developing countries will further stimulate future demand.
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