Preventive Healthcare Technologies and Services Market

Preventive Healthcare Technologies and Services Market Outlook (2021-2028)

The preventive healthcare technologies and services market is projected to surge ahead at an astronomical CAGR of 13% from 2021 to 2028. In 2020, revenue from preventive healthcare technologies and services was US$ 217.1 Mn, which is anticipated to reach US$ 557.5 Mn by the end of 2028.

Report Attributes	Details
Preventive Healthcare Technologies and Services Market Size (2020)	US$ 217.1 Mn
Projected Year Value (2028F)	US$ 557.5 Mn
Global Market Growth Rate (2021-2028)	13% CAGR
Key Companies Profiled	Dilon Technologies Inc. Myraid Genetics Inc. Noxx Systems Inc. U-Systems Inc. Viatronix Inc. Lifecom Inc. Scripto LLC Omnicell Inc. Sanofi Pasteur MSD Merck & Co. GlaxoSmithKline plc Alere Healthways Inc. Omron Healthcare Inc. Medtronic

The world has witnessed major increase in chronic diseases, and this has driven demand for chronic disease management and also given impetus to the demand for preventive healthcare services and technologies.

Consumption Analysis of Preventive Healthcare Technologies and Services (2017-2020) in Comparison to Market Forecasts (2021-2028)

Technological proliferation has increased in almost all industry verticals, and the healthcare industry is no exception to this trend. Digital healthcare technologies have seen a massive increase in popularity in recent years and this trend is expected to be prominent over the coming years as well.

Use of technology in the healthcare industry has enabled early detection & screening of multiple diseases which has also benefitted the patients as they are able to opt for treatments early and have a better chance of recovery.

Focus on healthcare has been bolstered across the world and this trend has increased the burden on healthcare systems, and to reduce this burden there have been efforts to promote preventive healthcare which are driving demand for preventive healthcare technologies and services.

Digital healthcare technology has enabled the use of prophylaxis technologies and electronic prescribing which are helping reduce healthcare costs while reducing the burden on healthcare systems.

High costs of deployment and maintenance are expected to hinder preventive healthcare technologies and services market growth through 2028. Nevertheless, the preventive healthcare technologies and services market is anticipated to evolve at a phenomenal CAGR of 13% from 2021 to 2028.

What Impact Does Increasing Focus on Healthcare Have on Market Growth?

“Rising Focus on Healthcare Promotes Adoption of Digital Healthcare Technology”

In the past years, an increase in the prevalence of multiple chronic and infectious diseases has been observed and this has subsequently increased the focus on healthcare by governments as well as individuals. This has led to increased investments in the development of healthcare infrastructure to deal with the increasing burden.

Digital healthcare technologies have been preferred for this as they have proven their efficacy in better chronic disease management in the time of pandemic in 2020. The pandemic saw major use of these digital healthcare technologies and has boosted the preventive healthcare technologies and services market potential for the forecast period through 2028.

Will High Cost of Preventive Healthcare Hamper Market Growth Potential?

“High Costs of Maintenance & Installation Could Constrain Market Growth to Some Extent”

Preventive healthcare technologies and services incur high costs for healthcare institutions as the equipment is costly and installation as well.

Moreover, the maintenance costs associated with these preventive healthcare technologies and services are also expected to slow down their adoption on a global scale.

Which Regions Experience High Demand for Preventive Healthcare Technologies and Services?

“North America & Europe Hold Substantial Market Share”

The North America preventive healthcare technologies and services market is anticipated to be the most lucrative one in the global industry landscape. The presence of advanced healthcare infrastructure and the presence of major market players are anticipated to be the prime drivers for preventive healthcare technologies and services demand in this region through 2028.

Rapid adoption of novel technologies is also expected to be a major influential factor in this region. This region is anticipated to hold a market share of nearly 40% in the global preventive healthcare technologies and services market landscape by the end of 2028.

The market for preventive healthcare technologies and services in Europe is also expected to hold a significant market share over the forecast period owing to the presence of developed healthcare infrastructure and increased healthcare expenditure. Germany, France, and the U.K are anticipated to be the most prominent markets for preventive healthcare technologies and services in this region.

Country-wise Insights

Will Preventive Healthcare Technologies and Services Demand See a Hike in the U.S.?

“Increasing Healthcare Spending Potential to Drive Demand for Digital Healthcare Technology”

The U.S. is known for its advanced and developed healthcare infrastructure which provides a lucrative setting for the adoption of novel digital healthcare technologies.

Increasing burden on healthcare infrastructure and rising support from the government to boost awareness are expected to be major trends boosting the adoption of preventive medicine, prophylaxis technologies, electronic prescribing, and other technologies in the U.S.

Should Preventive Healthcare Technology and Service Providers Focus on China?

“Increasing Investments in Healthcare Sector Driving Demand for Early Detection & Screening”

China is one of the prime healthcare industries in the Asian region owing to its status of the most populous nation in the world. Focus on healthcare has increased substantially in past years owing to the increasing prevalence of chronic diseases in the nation.

The government is also increasing its investments in the healthcare sector to develop efficient chronic disease management systems and infrastructure.

Emergence of the COVID-19 pandemic in China has also propelled the demand for prophylaxis technologies and preventive medicines. Rising demand for early detection & screening will also promote the adoption of other technologies such as electronic prescribing and smart infusion pumps.

Category-wise Insights

Will Prophylaxis Technologies Perform Well through 2028?

“Rising Use of Vaccines Driving Demand for Prophylaxis Technologies”

Prophylactic measures have gained massive popularity in recent years and this trend is expected to be prominent over the forecast period as well. These measures enable the formulation of vaccines that facilitate the development of antibodies that help combat diseases.

Increased use of vaccines for diseases such as Ebola, Hepatitis C, COVID, and AIDS is also expected to bolster the growth of the prophylaxis technologies segment over the forecast period.

Market Performance During COVID-19

In 2020, the world was plagued with coronavirus infections which led to a global pandemic. The COVID-19 pandemic resulted in lockdowns across multiple nations that were put in place to curb the spread of coronavirus infections along with social distancing norms. Healthcare institutions across the world adopted digital healthcare technologies to improve functionality and lessen the increasing burden of coronavirus patients in these facilities.

The pandemic boosted demand for preventive healthcare technologies and services and the market is expected to see a bright growth outlook in the post-pandemic era. Increasing awareness of preventive healthcare and its importance will be major factors driving growth in the post-pandemic era through 2028.

Competitive Landscape

Key preventive healthcare technology and service providers are focusing on increasing awareness regarding preventive medicine and are launching new initiatives to boost the same.

• In April 2022, the AIG Hospital based in Hyderabad, India, announced the launch of new wellness centers that are solely aimed at revolutionizing preventive healthcare in India by increasing awareness about personalized and preventive medicines.

Key Segments Covered in Preventive Healthcare Technologies and Services Industry Research

• Preventive Healthcare Technologies and Services Market by Early Detection & Screening Technologies:

  • Personalized Medicines
  • Automated Screening
  • Other Advanced Screening Tests

• Preventive Healthcare Technologies and Services Market by Prophylaxis Technologies:

  • Flu Vaccines
  • Meningococcal Vaccines
  • Combined Tetanus-Diphtheria-Pertussis Vaccines
  • Human Papillomavirus Vaccines
  • Other New Vaccines

• Preventive Healthcare Technologies and Services Market by Advanced Technologies to Reduce Errors:

  • Electronic Prescribing
  • Computerized Provider Order Entry Systems
  • Clinical Decision Support Systems
  • Automated Prescription, Formulation, and Dispensing
  • Smart Infusion Pumps
  • Smart Packaging

• Preventive Healthcare Technologies and Services Market by Chronic Disease Management Technologies:

  • Blood Pressure Monitors
  • Glucose Monitors
  • Cardiac Monitors
  • Asthma Monitors

• Preventive Healthcare Technologies and Services Market by Region:

  • North America Preventive Healthcare Technologies and Services Market
  • Latin America Preventive Healthcare Technologies and Services Market
  • Europe Preventive Healthcare Technologies and Services Market
  • East Asia Preventive Healthcare Technologies and Services Market
  • South Asia & Oceania Preventive Healthcare Technologies and Services Market
  • MEA Preventive Healthcare Technologies and Services Market