Research report presented by UnivDatos, Emphasis on Type [Early Detection and Screening Technologies (Personalized Medicine, Other Screening Technologies), Chronic Disease Management Technologies (Blood Pressure Monitors, Asthma Monitors, Cardiovascular Monitors, Glucose Monitors), Vaccines (Infectious Diseases, Allergy, Cancer, Other Vaccines), Advanced Technologies to Reduce Errors (Electronic Prescribing, Clinical Decision Support Systems, Smart Infusion Pumps, Computerized Provider Order Entry Systems, Smart Packaging, and Automated Prescription Formulation and Dispensing) and Geographical analysis (key regions and countries).
As per the research report, the Global Preventive Healthcare Technologies and Services Market is expected to reach the market valuation of US$ 493.1 billion by 2027 expanding at a reasonable CAGR of 10.47% during the forecast period (2021-2027) from US$ 214.1 billion in 2019. Digital preventive healthcare is the application of digital health technology in the reduction of illness incidence, eradication, avoidance, or mitigating the harmful effects of the disease, and finally death prevention. Access to healthcare is a crucial factor contributing to the growth of the preventive healthcare market. Furthermore, the increasing number of patients with cardiovascular, asthma, respiratory, and other infectious illnesses disorders, as well as the aging population, are some of the factors influencing the demand growth for preventive healthcare technology and services.
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Patients with chronic and life-related diseases have risen as a result of changes in lifestyle brought about by a hectic and active schedule. Furthermore, one of the leading causes of the prevalence of communicable and non-communicable diseases is the change in dietary habits and increasing preference for processed and packaged foods, particularly among millenniums, combined with the offers of organic food by players around the world. As a result, there is a growing need for preventive healthcare technology and facilities. According to a report, the global market for ready meals is expected to grow by about 20.5 percent between 2017 and 22.
Furthermore, as technology advances, the healthcare industry around the world is undergoing a transition. The healthcare sector is benefiting from the introduction of emerging technology such as AI, Big data, and machine learning, as well as increased knowledge about prevention steps such as screening and tracking systems, vaccinations, and smart devices to eliminate medical errors due to the increasing geriatric population that are more vulnerable to chronic disease. According to a United Nations survey, there were 703 million people aged 65 and over in the world in 2019. In 2050, the number of elderly people is expected to rise to 1.5 billion.”
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Insights Presented in the Report
“Amongst type, Early Detection and Screening Technologies segment holds the major share”
Early Detection and Screening Technologies, Vaccines, Chronic Disease Management Technologies, and Advanced Technologies to Reduce Errors are the different types of technologies in the industry. Early Detection and Screening Technologies led the industry in 2019 with a share of 43.84 percent, and this domination is projected to continue over the forecast era, owing to rising customer demand for preventive healthcare interventions as a result of increased concern about preventive health and wellness.
“Amongst Early Detection and Screening Technologies Market type, Personalized Medicine is expected to dominate the market during the analyzed period”
The market is divided into Personalized Medicine and Other Screening Technologies based on the kind of Early Detection and Screening Technologies used. Personalized Medicine took the majority of the preventive healthcare market share in 2019, accounting for 56.25 percent of total sales. When the need for prescription protection and effectiveness grows, so does the demand for personalized medication. Furthermore, during the forecast period of 2021-2027, Other Screening Technologies is projected to develop at a CAGR of more than 10%.
“North America represents one of the largest markets of Preventive Healthcare Technologies and Services market”
Systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of APAC), and the Rest of the World, to gain a greater understanding of the market dynamics of preventive healthcare. Because of rising healthcare, IT spending in countries such as the United States and Canada, North America led the industry in 2019, generating sales of US$ 92 billion. Furthermore, the region's dominance is due to the participation of well-established players as well as technologically advanced goods and services.
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Table of Contents
1 Market Introduction
2 Research Methodology or Assumption
3 Industry Performance
4 Executive Summary
5 Market Overview
6 Legal & Regulatory Framework
7 Demand and Supply Side Analysis
8 Value Chain Analysis
9 Market Insights by Type
10 Market Insights by Region
11 Competitive Scenario
12 Top Company Profiles - Alere, GlaxoSmithKline, McKesson Corporation, Medtronic, Merck & Co., Myriad Genetics, Omron Healthcare, Quest Diagnostics