Preventive Healthcare Technologies and Services Market - By Type (Early Detection and Screening, Chronic Disease Management Technologies, Vaccines, Advanced Technologies to Reduce Errors), End-use (Hospital, Clinics)– Global Forecast, 2024 - 2032

Preventive Healthcare Technologies and Services Market - By Type (Early Detection and Screening, Chronic Disease Management Technologies, Vaccines, Advanced Technologies to Reduce Errors), End-use (Hospital, Clinics)– Global Forecast, 2024 - 2032

Preventive Healthcare Technologies and Services Market Size

Preventive Healthcare Technologies and Services Market size was valued at USD 251.2 billion in 2023 and is set to grow at 10.3% CAGR from 2024 to 2032. These services refer to a range of medical tools, interventions, strategies, and healthcare practices that are designed to prevent the onset or progression of diseases before they become more serious or require more extensive treatment.
 

The prevalence of chronic diseases, such as diabetes and obesity, has surged demand for these preventive services. For instance, according to WHO, chronic diseases are the leading cause of death globally, accounting for nearly 71% of all deaths worldwide. Thus, preventive measures help to mitigate the risk and reduce the impact of these conditions thereby accelerating the market progress.
 

Rising number of government awareness programs has increased popularity of preventive healthcare over the last decade. The Patient Protection and Affordable Care Act, commonly known as Obamacare, was enacted in 2010 and has mandated the inclusion of preventive healthcare services by insurance providers at no additional cost until now. Therefore, the private insurance companies are also currently shifting their focus on this market due to its enormous potential.
 

COVID-19 Impact

The COVID-19 pandemic led to a decrease in preventive screenings as the number of patient visits to healthcare facilities declined. The observational cohort study conducted in October 2021 indicated that COVID-19 had reduced the delivery of preventive care services, resulted in increased mortality, delayed diagnoses, and higher healthcare expenses. Consequently, COVID-19 had a significant commercial impact on the market.
 

Preventive Healthcare Technologies and Services Market Trends

The demand for preventive healthcare technologies and services has increased owing to growing awareness among individuals about the benefits of preventive healthcare and the importance of regular health check-ups. Preventive care can be more cost-effective eventually, making it an attractive option for both healthcare providers and payers. Thus, contributing towards the market progress.

• Additionally, telehealth and remote patient monitoring technologies have gained prominence, allowing patients to access healthcare services and monitoring them from the comfort of their homes. This reduces the need for in-person visits and can enhance preventive healthcare efforts.
   

Preventive Healthcare Technologies and Services Market Analysis

 The market by type is categorized into early detection and screening, chronic disease management technologies, vaccines, advanced technologies to reduce errors. Early detection and screening segment is further segmented into automated screening, personalized medicine, other advanced screening technologies. This segment garnered USD 85 billion revenue size in the year 2022.
 

• The highest share of the segment is primarily attributable to the benefits of personalized medical technologies, such as high accuracy and early disease or problem detection.
   
• Technological advancements, such as improved diagnostic tools, telemedicine of which the market size reached USD 71.5 billion in 2022, wearable medical devices, and health monitoring apps, have made early detection and screening more accessible and accurate.
   

The preventive healthcare technologies and services market by end-use is categorized into hospitals, clinics, and others. Hospitals held over 41% of industry share in 2022.
 

• Presence of skilled healthcare professionals, advanced equipment in hospital settings is projected to favor the business landscape.
   
• Enhanced health coverage for hospital-based healthcare services from several private and group insurance plans, among others, is further projected to contribute towards market share.
   

U.S. preventive healthcare technologies and services market accounted for USD 70.9 billion revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
 

• Technological advancements coupled with substantial healthcare expenditure are the factors driving the market growth. Increasing burden of chronic diseases among geriatric population further stimulates the demand for preventive healthcare technologies and services.
   
• Major players in the industry are focusing on development of advanced preventive technologies which will create new opportunities for the country’s market growth.
   

Preventive Healthcare Technologies and Services Market Share

The preventive healthcare technologies and services industry is consolidated in nature, with major companies competing to offer superior products in this business space. Prominent players such as Teladoc Health, holds a significant share in the market. These companies are diligently directing their efforts towards continuous product innovation to gain substantial market share. For instance, Teladoc Health, introduced the Chronic Care Complete, a first-of-its-kind chronic condition management solution to help individuals recover their health outcomes.
 

Some of the eminent market participants operating in the preventive healthcare technologies and services industry include

• GlaxoSmithKline
• Omnicell, Inc
• Myriad Genetics
• Omron Healthcare
• Abbott Laboratories
• Medtronic
• Quest Diagnostics
• Merck & Co. Inc.
• Sanofi
• NOVX Systems Corp
• Moderna, Inc
• Pfizer
• Teladoc Health         
• McKesson Corporation
• Practice Fusion Inc.
   

Preventive Healthcare Technologies and Services Industry News

• In March 2022, GOQii Inc. secured USD 10 million in extended Series C funding with Animoca Brands as the investor. The capital infusion fueled the development of innovative healthcare solutions, leveraging blockchain tokens and gamification to enhance preventive healthcare offerings.
   
• In January 2022, Healthlane introduced the Healthlane App, a sophisticated preventive healthcare technology designed to elevate and prolong the quality of medical care, ultimately with the aim of nurturing longer and healthier lives for individuals.
   

Preventive healthcare technologies and services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments

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By Type, 2018-2032 (USD Million)

• Early detection and screening
• Automated screening
• Personalized medicine
• Other advanced screening technologies 
• Chronic disease management technologies
• Blood pressure monitors
• Asthma monitors
• Cardiovascular monitors
• Glucose monitors
• Vaccines
• Infectious diseases
• Combined tetanus-diphtheria-pertussis vaccines
• Allergy
• Others
• Advanced technologies to reduce errors
• Electronic prescribing
• Clinical decision support system
• Smart infusion pumps
• Computerized provider order entry system
• Smart packaging
• Automated prescription formulation & dispensing

By End-use, 2018-2032 (USD Million)

• Hospitals
• Clinics
• Other end-users

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa