Preventive Healthcare Technologies and Services Market: Introduction
According to the report, the global preventive healthcare technologies and services market was valued at US$ 217.09 Mn in 2020 and is projected to expand at a CAGR of 13.0% from 2021 to 2028. The global preventive healthcare technologies and services market is driven by favorable government policies for adoption of healthcare information technology and increase in social awareness about vaccination through governmental & non-governmental organizations.
Additionally, rise in demand for self-monitoring devices and technological upgrade of healthcare systems, which is likely to reduce the cost burden boost the growth of the global preventive healthcare technologies and services market. However, high installation and maintenance cost of healthcare IT and deficient patient engagement activities demotivate physicians and pharmacists to adopt these preventive healthcare technologies.
North America and Europe are projected to dominate the global preventive healthcare technologies and services market during the forecast period. Asia Pacific, Latin America, and Middle East & Africa are regions with high potential for preventive healthcare technologies and services. The market in Asia Pacific is expected to expand at a CAGR of 14.7% from 2021 to 2028.
Personalized Medicine Segment to Drive Global Market
In terms of early detection & screening technologies, the global market has been classified into personalized medicine, automated screening, and other automated screening technologies. Personalized medicine was the largest segment of the global market in 2020 due to high investments in proteomics and genomics research. However, the automated screening segment is likely to expand at a high CAGR during the forecast period due to high demand for automated melanoma screening techniques and set up of telehealth kiosks by pharmacies and clinics.
In terms of region, the global preventive healthcare technologies and services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global preventive healthcare technologies and services market in 2020. This can be attributed to technology supportive government policies, well-designed reimbursement policies, and high social awareness about preventive healthcare. The market in Asia Pacific is anticipated to expand at a CAGR of 14.3% during the forecast period. Asia Pacific, Latin America, and MEA are developing markets and adoption of advanced preventive healthcare technologies is anticipated to be slow.
The global preventive healthcare technologies and services market is highly fragmented. A number of players provide different products. Key players in the global preventive healthcare technologies and services market include 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., and Medtronic. Expansion of the product portfolio through mergers and acquisitions is a key strategy followed by several global players.
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