Preventive Healthcare Technologies and Services Market: Current Analysis and Forecast (2020-2027)

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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 Region/Country

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204

Table:

83

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164

Report ID:

UMHE20193

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Report Description
Table of content
Research Methodology

Report Description

The global preventive healthcare technologies and services market was valued at US$ 214.1 billion in 2019 and is projected to expand significantly with a CAGR of 10.5% from 2021-2027. The use of digital health technologies in the prevention of disease occurrence, eradication, elimination, or minimizing the negative impact of the disease and ultimately prevention of death is known as Digital preventive healthcare. The key factor attributed to the growing market of preventive healthcare technologies and services market is the accessibility to healthcare. Moreover, the surge in the aging population coupled with the growing number of patients related to cardiovascular, diabetes, respiratory ailment, and other certain contagious illnesses diseases are some of the factors that impact the market growth for preventive healthcare technologies and services.

Change in lifestyle owing to the hectic and busy schedule has increased the patients of chronic and life associated disease.  Moreover, the change in dietary habits and increasing preference for processed and packaged for especially among millenniums coupled with the offerings of organic food by the players across the globe is one of the leading causes for the prevalence of communicable and non-communicable diseases. Therefore, the demand for preventive healthcare technologies and services is on the rise. In a study, it was found that the global market for ready meals is projected to witness a demand for around 20.5% during 2017-22.

Moreover, with the advancement in technology, the healthcare sector across the globe is moving towards a transformation. With the advent of new technologies such as AI, Big data, and ML, the healthcare industry coupled with the surging awareness about preventive measures such as screening & monitoring devices, vaccines, and smart devices to reduce medical errors due to the rising geriatric population who are more prone to chronic disease is contributing to the growing market of preventive healthcare technologies and services market. As per a report by United Nations, “There were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050”.

Worldwide Share of Deaths, by Cause

The global preventive healthcare technologies and services market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Alere, GlaxoSmithKline, McKesson Corporation, Medtronic, Merck & Co., Myriad Genetics, Omron Healthcare, Quest Diagnostics, Sanofi, and Tivity Health among others. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst type, Early Detection and Screening Technologies segment holds the major share”

Based on type, the market is fragmented into Early Detection and Screening Technologies, Vaccines, Chronic Disease Management Technologies, and Advanced Technologies to Reduce Errors. Early Detection and Screening Technologies dominated the market with a share of 43.84% in 2019 and is expected to maintain its dominance during the forecast period owing to the increased consumer preference for preventive healthcare measures owing to the suing awareness 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”

Based on the market segment by Early Detection and Screening Technologies type, the market is segmented into Personalized Medicine and Other Screening Technologies. In 2019, Personalized Medicine grabbed the major market share and accounted for 56.25% of the market revenue share. Surging the need for safety and efficacy of drugs the demand for personalized medicine is witnessing an uptick. Moreover, and Other Screening Technologies is expected to grow with a CAGR of more than 10% during the forecast period of 2021-27.

“North America represents one of the largest markets of Preventive Healthcare Technologies and Services market”

For a better understanding of the market dynamics of the preventive healthcare technologies and services market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 92 billion in 2019 owing to the escalating healthcare IT investment in the counties such as the U.S and Canada. Moreover, the presence of well-established players and the latest technology upgraded products and services make the region dominant.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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  1.1Market Definition 
  1.2Objective of the Study
  1.3Limitation 
  1.4Stakeholders 
  1.5Currency used in the Report
  1.6Scope of the Global Preventive Healthcare Technologies and Services Market Study

 

  2.1Research Methodology for the Preventive Healthcare Technologies and Services Market Study
   2.1.1Main objective of the Preventive Healthcare Technologies and Services Market Study

 

  5.1Introduction 
  5.2Market Dynamics 
   5.2.1Market Trend & Drivers
    5.2.1.1Escalating Aging Population and Related Disease
    5.2.1.2Escalating Awareness Programs and Mandates by the Government
    5.2.1.3 Easy Availability of Early Detection Capable Diagnostics Devices
   5.2.2Market Challenges
    5.2.2.1Lack of Understanding about the need for Preventive Healthcare Measures in Rural Areas
    5.2.2.2Lack of Skilled Healthcare Technology Professionals in Developing Nations
   5.2.3Market Opportunities
    5.2.3.1Surging Adoption of Technologies such as AI, ML and IoT in Healthcare
    5.2.3.2Rising Penetration of Communicable Diseases
  6.1General Overview
  7.1Demand Side Analysis
  7.2Supply Side Analysis
   7.2.1Top Product Launches
   7.2.2Top Business Partnerships
   7.2.3Top Mergers and Acquisitions
   7.2.4Top Business Expansions and Investment
   7.2.5Top Start-ups under Preventive Healthcare Technologies and Services Sector
 8.1Value Chain Analysis
  9.1General Overview 
   9.1.1Chronic Disease Management Technologies
    9.1.1.1Blood Pressure Monitoring
    9.1.1.2Asthma Monitors
    9.1.1.3Cardiovascular Monitors
    9.1.1.4Glucose Monitors
   9.1.2Early Detection and Screening Technologies
    9.1.2.1Personalized Medicine
    9.1.2.2Other Screening Technologies
   9.1.3Vaccines 
    9.1.3.1Infectious Diseases
    9.1.3.2Allergy
    9.1.3.3Cancer
    9.1.3.4Other Vaccines
   9.1.4Advanced Technologies to Reduce Error
    9.1.4.1Electronic Prescribing
    9.1.4.2Clinical Decision Support Systems
    9.1.4.3Smart Infusion Pumps
    9.1.4.4Computerized Provider Order Entry Systems Market
    9.1.4.5Smart Packaging and Automated Prescription Formulation and Dispensing

 

  10.1General Overview 
  10.2North America Preventive Healthcare Technologies and Services Market
   10.2.1United States Preventive Healthcare Technologies and Services Market
   10.2.2Canada Preventive Healthcare Technologies and Services Market
   10.2.3Rest of North America Preventive Healthcare Technologies and Services Market
  10.3Europe Preventive Healthcare Technologies and Services Market
   10.3.1UK Preventive Healthcare Technologies and Services Market
   10.3.2Germany Preventive Healthcare Technologies and Services Market
   10.3.3France Preventive Healthcare Technologies and Services Market
   10.3.4Spain Preventive Healthcare Technologies and Services Market
   10.3.5Italy Preventive Healthcare Technologies and Services Market
   10.3.6Rest of Europe Preventive Healthcare Technologies and Services Market
  10.4Asia-Pacific Preventive Healthcare Technologies and Services Market
   10.4.1Japan Preventive Healthcare Technologies and Services Market
   10.4.2China Preventive Healthcare Technologies and Services Market
   10.4.3India Preventive Healthcare Technologies and Services Market
   10.4.4Rest of Asia Pacific Preventive Healthcare Technologies and Services Market
  10.5Rest of the World Preventive Healthcare Technologies and Services Market

 

  11.1Porter’s Five forces analysis
   11.1.1Bargaining power of Supplier
   11.1.2Bargaining power of Buyer
   11.1.3Industry Rivalry
   11.1.4Availability of Substitute
   11.1.5Threat of new Entrants
  11.2Competitive Landscape
   11.2.1Market Share of Key Players in Preventive Healthcare Technologies and Services Market, 2019
  12.1Medtronic PLC 
   12.1.1Key Facts 
   12.1.2Business Description
   12.1.3Key Product/Services Offerings
   12.1.4Growth Strategy
   12.1.5SWOT Analysis
   12.1.6Key Financials
    12.1.6.1Revenue Split
   12.1.7Recent Developments
    12.1.7.1Product Launches
    12.1.7.2Partnerships
    12.1.7.3Merger and Acquisitions
  12.2Alere  
  12.3GlaxoSmithKline 
  12.4McKesson Corporation
  12.5Merck & Co. 
  12.6Myriad Genetics 
  12.7Omron Healthcare 
  12.8Quest Diagnostics 
  12.9Sanofi  
  12.10Tivity Health

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Preventive Healthcare Technologies and Services  Market were the three major steps undertaken to create and analyze the adoption of Preventive Healthcare Technologies and Services across various industry verticals in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of Preventive Healthcare Technologies and Services. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Preventive Healthcare Technologies and Services through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Preventive Healthcare Technologies and Services Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type and subtypes. Further country-level analyses were conducted to evaluate the overall adoption of preventive healthcare technologies and services in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Preventive Healthcare Technologies and Services. Further, we conducted factor analysis using dependent and independent variables such as the growth of the healthcare IT industry, surging prevalence of diseases, Investments, etc. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Preventive Healthcare Technologies and Services sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Preventive Healthcare Technologies and Services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Preventive Healthcare Technologies and Services across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Preventive Healthcare Technologies and Services market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Preventive Healthcare Technologies and Services market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technologies and their type of the Preventive Healthcare Technologies and Services market.

The main objective of the Preventive Healthcare Technologies and Services Market Study

The current & future market trends of Preventive Healthcare Technologies and Services were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Preventive Healthcare Technologies and Services in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type and their subtypes
  • Define and analysis of the regulatory framework for the Preventive Healthcare Technologies and Services industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Preventive Healthcare Technologies and Services market for the major region
  • Major regions studied in the report include North America (the U.S and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, and India), and the Rest of the World
  • Company profiles of the Preventive Healthcare Technologies and Services market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry