Global Preventive Healthcare Technologies and Services Market Insights Forecasts to 2033

• The Global Preventive Healthcare Technologies and Services Market Size was Valued at USD 248.90 Billion in 2023
• The Market Size is Growing at a CAGR of 10.55 % from 2023 to 2033
• The Worldwide Preventive Healthcare Technologies and Services Market Size is Expected to Reach USD 678.51 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Preventive Healthcare Technologies and Services Market Size is Anticipated to Exceed USD 678.51 Billion by 2033, Growing at a CAGR of 10.55% from 2023 to 2033.

Market Overview

Preventive healthcare technologies & services are solutions to prevent diseases rather than treat them post-diagnosis. They include devices, services, screenings, health monitoring devices, vaccines, and health information services. The necessity of preventive healthcare is emphasized owing to chronic diseases, rising healthcare costs, and increasing awareness about maintaining health. Preventive healthcare includes proactive health tests, counseling, and maintenance, focusing on avoiding disease, damage, and patient illness. According to the India Brand Equity Foundation, 40% percent of 1,000 respondents stated they preferred preventative health care. In 2019, NCDs caused 71% of fatalities worldwide, with 66% of those deaths occurring in India. In 2030, the economic cost of NCDs is predicted to exceed Rs. 511 lakh crores, with 17% of the population suffering from obesity. In 2018, India declared that 1,50,000 Health and Wellness Centres were established to provide comprehensive primary healthcare services, which involve authorized essential medications, non-communicable diseases, and maternity & child health services. Under Ayushman Bharat, the Prime Minister of India introduced the Pradhan Mantri Jan Arogya Yojna scheme, which aims to grant over 12 crores impoverished and vulnerable families who comprise the bottom 40% of the Indian population health insurance of Rs 5 lakhs per family annually for secondary and tertiary care hospitalization. The rising incidence of chronic medical conditions associated with lifestyle habits and additional risk factors is responsible for this market growth.

Report Coverage

This research report categorizes the market for the global preventive healthcare technologies and services based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global preventive healthcare technologies and services market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global preventive healthcare technologies and services market.

Driving Factors

The increasing use of the latest technologies, rising awareness of preventive strategies, and an upsurge in the incidence of chronic disorders are all estimated to promote growth in the market for preventative healthcare technologies and services. The market is supposed to grow as a result of the extending geriatric population and falling fertility rate. Growth is being driven by the positive aspects of self-monitoring devices, healthcare IT, and technology advancements. The market is additionally regulated by government regulations, a growing elderly population, AI integration, self-monitoring gadgets, and technological improvements. Furthermore, cloud-based technologies are improving clinical quality, operational efficiency, public awareness, government initiatives, and research and development.

Restraining Factors

However, in developing nations like Bangladesh, India, the Philippines, and Sri Lanka, prohibitive installation and maintenance costs hinder the use of preventative technology by physicians and pharmacists. Data security and privacy issues are impeding the growth of the global preventive healthcare technologies and services market and raising uncertainty about healthcare institutions' ability to protect patient data.

Market Segmentation

The global preventive healthcare technologies and services market share is classified into service type, technology type, and end-use.

• The diagnostic services segment is expected to hold a significant share of the global preventive healthcare technologies and services market over the forecast period.

Based on the service type, the global preventive healthcare technologies and services market is categorized as pharmacy services, wellness & health assessment services, diagnostic services, telemedicine services, and others. Among these, the diagnostic services segment is expected to hold a significant share of the global preventive healthcare technologies and services market over the forecast period. Advanced medical diagnostic technologies, such as imaging, pathology, and molecular diagnostics, have become increasingly prevalent owing to their low invasiveness and excellent accuracy. In addition to liquid biopsy and biomarker detection tests, these tests allow for automated test result interpretation and the early detection of chronic illnesses and cancer.

• The telemedicine segment is predicted to hold a significant share of the global preventive healthcare technologies and services market throughout the projected timeframe.

Based on the technology type, the global preventive healthcare technologies and services market is categorized as health information technology, mHealth, telemedicine, wearable devices, and others. Among these, the telemedicine segment is predicted to hold a significant share of the global preventive healthcare technologies and services market throughout the projected timeframe. Telemedicine provided a trustworthy replacement for physical visits during a global outbreak, which additionally contributed to avoiding hospital and clinic crowding. Telemedicine is being promoted by several kinds of government programs to increase the acceptance of healthcare. To provide critical care services to remote areas, several nations have established tele-ICU and tele-stroke initiatives. Additionally, the rise of telemedicine services is being complemented by the increasing prevalence of wearable technology and mHealth apps.

• The healthcare providers segment is anticipated to dominate the global preventive healthcare technologies and services market during the predicted period.

Based on the end-use, the global preventive healthcare technologies and services market is categorized as healthcare payers, healthcare providers, and others. Among these, the healthcare providers segment is anticipated to dominate the global preventive healthcare technologies and services market during the predicted period. Modern technology facilitates early identification, immediate intervention, disease management, and mitigation of adverse health consequences. Increasingly, healthcare providers are establishing telemedicine platforms, patient engagement tools, and diagnostic equipment. Patients with chronic illness utilize monitoring devices and mHealth apps to interact with clinicians remotely for advice on essential treatment, scheduling appointments, and prescription recommendations. This minimizes readmission rates while enhancing the overall satisfaction of patients. Healthcare providers enhance their technology-driven preventative medical services through a wide range of collaborations with insurance companies and pharmaceutical enterprises.

Regional Segment Analysis of the Global Preventive Healthcare Technologies and Services Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to dominate the global preventive healthcare technologies and services market over the predicted timeframe.

North America is anticipated to dominate the global preventive healthcare technologies and services market over the forecast period. The predominant presence of leading technology firms and healthcare providers in nations like the U.S. is responsible for development. High levels of disposable revenue along with favorable reimbursement regulations that facilitate innovation enable the region to benefit from the early adoption of sophisticated healthcare solutions. Furthermore, the overall strength of the market is boosted by the existence of significant pharmaceutical companies involved in preventive healthcare. Preventive care services give more attention as a result of initiatives to reduce the rising expenses of healthcare, and private-public expenditures in this area persist to be significant.

Asia Pacific is expected to hold the fastest-growing region in the global preventive healthcare technologies and services market during the forecast period. International companies have an opportunity to increase their market share in the region owing to increasing expenses for healthcare and the expanding healthcare sector. The need for preventative treatment is rising sharply owing to a huge patient base and rising health consciousness. Public health programs and initiatives targeting non-communicable diseases are utilized by local governments to promote preventative services. Even in remote areas, this promotes the implementation of contemporary services and technologies.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global preventive healthcare technologies and services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Omnicell
• Scripto LLC
• Myriad Genetics
• Abbott
• Quest Diagnostics
• Viatronix, Inc.
• McKesson Corporation
• Omron Healthcare Inc.
• Dilon Medical Technologies Inc.
• U-Systems, Ltd.
• Pfizer, Inc.
• Glaxo Smith Kine
• Novx system
• Medtronic PLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Diagnostic and Preventive healthcare service provider Thyrocare announced the acquisition of a 100 percent stake in Chennai-based Think Health Diagnostics for an undisclosed sum. The share purchase agreement was finalized, marking Thyrocare’s entry into the domain of ECG services at home. Thyrocare expanded its footprint in the pre-policy medical check-up segment for the insurance market. This allows them to provide insurance partners with a one-stop solution for both blood tests and ECGs, deepening their presence in the annual health check-up and pre-policy check-up markets.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global preventive healthcare technologies and services market based on the below-mentioned segments: 

Global Preventive Healthcare Technologies and Services Market, By Service Type

• Pharmacy Services
• Wellness & Health Assessment Services
• Diagnostic Services
• Telemedicine Services
• Others

Global Preventive Healthcare Technologies and Services Market, By Technology Type

• Health Information Technology
• mHealth
• Telemedicine
• Wearable Devices
• Others

Global Preventive Healthcare Technologies and Services Market, By End-Use

• Healthcare Payers
• Healthcare Providers
• Others

Global Preventive Healthcare Technologies and Services Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa