The global preventive healthcare technologies and services market size was estimated to be USD 271.99 billion in 2023 and is expected to reach at USD 939.65 billion by 2034 with a CAGR of 11.93% during the forecast period 2024-2034. Surge in prevalence of lifestyle-associated chronic diseases, rising number of awareness programs by the government, growing geriatric population which are more prone to chronic conditions & acute cardiovascular diseases, increasing advancements in virtual care, surge in vaccination drives, rising research & development activities, growing strategic initiatives adopted by key market players, and increasing introduction of innovative preventive healthcare platforms are some of the pivotal elements driving market expansion.
Increasing introduction of innovative preventive healthcare platforms is predicted to boost the market growth during the forecast period. Preventive health, also known as preventative medicine or prophylaxis, involves the utilization of approved proactive health assessments, counseling, and maintenance. Rather than addressing illnesses after they occur, preventive healthcare emphasizes taking proactive measures to prevent them. These practices in preventive health center on averting diseases, injuries, and patient ailments from manifesting to ensure the well-being of individuals. From the standpoint of consumers, preventive healthcare offers the promise of a higher quality of life with reduced stress. For instance, in March 2022, Omnicell, Inc., a prominent supplier of medication management and adherence technologies for healthcare institutions and pharmacies, has unveiled the IVX Station. This pioneering approach aims to extend the advantages of IV robotic technology to a wider audience. The IVX Station is part of Omnicell's IV Compounding Service, a comprehensive offering that integrates this technology with the expertise of highly trained pharmacy professionals to deliver maximum value. This "as-a-Service" strategy is poised to assist healthcare facilities in diminishing medication waste in operating rooms and decreasing their dependence on outsourced sterile compounding.
By type, early detection and screening technologies was the highest revenue-grossing segment in the global preventive healthcare technologies and services market in 2023 owing to an increase in the benefits linked to personalized medicine technologies, including high precision & the early detection of potential diseases or disorders and rising technological advancements. Additionally, vaccines is predicted to grow at fastest CAGR during the forecast period owing to the surge in launch of new vaccination campaigns to speed up the vaccination process, growing research & development activities, and increasing clinical trial procedures. For instance, in February 2023, Moderna, Inc. has released encouraging interim findings from the phase 3 clinical trial of the mRNA-1010 influenza vaccine. These results demonstrate the safety and effectiveness of the vaccine in adults aged 18 and above, particularly in the southern hemisphere.
By application, hospitals was the highest revenue-grossing segment in the global preventive healthcare technologies and services market in 2023 owing to the surge in number of patients suffering from various chronic diseases, presence of well-established healthcare infrastructure, and increasing launch of innovative solutions. For instance, in January 2022, Healthlane has introduced the Healthlane App, a preventive healthcare technology designed to promote extensive and high-quality medical care, ultimately contributing to longer and healthier lives. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of advanced technology, growing research & development activities, and rising introduction of advanced platforms.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising incidence of chronic disease, growing awareness regarding preventive healthcare measures, increasing launch of new technologies. For instance, in February 2022, Chronic Care Complete, a cutting-edge method for managing chronic medical disorders, has been introduced by Teladoc Health, Inc. This innovative offering is designed to empower individuals to enhance their health outcomes while dealing with multiple chronic conditions. Chronic Care Complete provides members with a unified and comprehensive experience, incorporating connected health monitoring devices, access to health coaches, and access to physicians and mental health specialists when required. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising government initiatives, growing focus on the development of advanced technology for preventive healthcare, surge in geriatric population, and rising launch of campaigns that emphasize the importance of preventive healthcare. For instance, in April 2022, The AIG Hospital, located in Hyderabad, India, has revealed the establishment of innovative Wellness Centers. These centers are dedicated to transforming preventive healthcare in India by boosting awareness of personalized and preventive medicine.
Increasing introduction of innovative preventive healthcare platforms is predicted to boost the market growth during the forecast period. Preventive health, also known as preventative medicine or prophylaxis, involves the utilization of approved proactive health assessments, counseling, and maintenance. Rather than addressing illnesses after they occur, preventive healthcare emphasizes taking proactive measures to prevent them. These practices in preventive health center on averting diseases, injuries, and patient ailments from manifesting to ensure the well-being of individuals. From the standpoint of consumers, preventive healthcare offers the promise of a higher quality of life with reduced stress. For instance, in March 2022, Omnicell, Inc., a prominent supplier of medication management and adherence technologies for healthcare institutions and pharmacies, has unveiled the IVX Station. This pioneering approach aims to extend the advantages of IV robotic technology to a wider audience. The IVX Station is part of Omnicell's IV Compounding Service, a comprehensive offering that integrates this technology with the expertise of highly trained pharmacy professionals to deliver maximum value. This "as-a-Service" strategy is poised to assist healthcare facilities in diminishing medication waste in operating rooms and decreasing their dependence on outsourced sterile compounding.
By type, early detection and screening technologies was the highest revenue-grossing segment in the global preventive healthcare technologies and services market in 2023 owing to an increase in the benefits linked to personalized medicine technologies, including high precision & the early detection of potential diseases or disorders and rising technological advancements. Additionally, vaccines is predicted to grow at fastest CAGR during the forecast period owing to the surge in launch of new vaccination campaigns to speed up the vaccination process, growing research & development activities, and increasing clinical trial procedures. For instance, in February 2023, Moderna, Inc. has released encouraging interim findings from the phase 3 clinical trial of the mRNA-1010 influenza vaccine. These results demonstrate the safety and effectiveness of the vaccine in adults aged 18 and above, particularly in the southern hemisphere.
By application, hospitals was the highest revenue-grossing segment in the global preventive healthcare technologies and services market in 2023 owing to the surge in number of patients suffering from various chronic diseases, presence of well-established healthcare infrastructure, and increasing launch of innovative solutions. For instance, in January 2022, Healthlane has introduced the Healthlane App, a preventive healthcare technology designed to promote extensive and high-quality medical care, ultimately contributing to longer and healthier lives. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of advanced technology, growing research & development activities, and rising introduction of advanced platforms.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising incidence of chronic disease, growing awareness regarding preventive healthcare measures, increasing launch of new technologies. For instance, in February 2022, Chronic Care Complete, a cutting-edge method for managing chronic medical disorders, has been introduced by Teladoc Health, Inc. This innovative offering is designed to empower individuals to enhance their health outcomes while dealing with multiple chronic conditions. Chronic Care Complete provides members with a unified and comprehensive experience, incorporating connected health monitoring devices, access to health coaches, and access to physicians and mental health specialists when required. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising government initiatives, growing focus on the development of advanced technology for preventive healthcare, surge in geriatric population, and rising launch of campaigns that emphasize the importance of preventive healthcare. For instance, in April 2022, The AIG Hospital, located in Hyderabad, India, has revealed the establishment of innovative Wellness Centers. These centers are dedicated to transforming preventive healthcare in India by boosting awareness of personalized and preventive medicine.
Segmentation: Preventive Healthcare Technologies And Services Market Report 2023 - 2034
Preventive Healthcare Technologies And Services Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Vaccines
- Allergy
- Cancer
- Autism
- Infectious Diseases
- Others
- Chronic Disease Management Technologies
- Glucose Monitors
- Asthma Monitors
- Blood Pressure Monitors
- Cardiovascular Monitors
- Early Detection & Screening Technologies
- Personalized Medicine
- Automated Screening
- Other Advanced Screening Technologies
- Advanced Technologies to Reduce Errors
- Smart Infusion Pumps
- Smart Packaging
- Electronic Prescribing
- Clinical Decision Support System
- Computerized Provider Order Entry System
- Automated Prescription Formulation & Dispensing
Preventive Healthcare Technologies And Services Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Clinics
- Hospitals
- Others
Preventive Healthcare Technologies And Services Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Preventive Healthcare Technologies And Services Market: Type Estimates & Trend Analysis
8. Preventive Healthcare Technologies And Services Market: Application Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Preventive Healthcare Technologies And Services Market
11. Europe Global Preventive Healthcare Technologies And Services Market
12. Asia Pacific Global Preventive Healthcare Technologies And Services Market
13. Latin America Global Preventive Healthcare Technologies And Services Market
14. MEA Global Preventive Healthcare Technologies And Services Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Medtronic
- GSK plc
- Myriad Genetics Inc.
- Abbott
- MCKESSON CORPORATION
- Omnicell Inc.
- Merck & Co. Inc.
- Omnicell
- Quest Diagnostics Incorporated
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 271.99 Billion |
| Forecasted Market Value ( USD | $ 939.65 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
