The government health departments worldwide are actively seeking to achieve the welfare of the people and society by primarily focusing on the extending life expectancy, quality of life, free distribution of medications and so on. Rising prevalence of chronic diseases, and the corresponding increasing drug discovery and development studies performed by major pharmaceutical manufacturers and research organizations are driving the preventive healthcare technologies, products and services market. Additionally, the stringent regulatory norms stipulated by the healthcare agencies has made it mandatory to lay emphasis on early screening and detection of drug molecules recently cleared preclinical trials and those set to enter the clinical trial studies. The limiting factors related to this market are volatility in the economic performance of pharmaceutical companies resulting in setbacks to their research and development initiatives actively involved in drug screening, and lack of expertise in patient engagement activities by the healthcare professionals.
The scope of the report comprises preventive healthcare solutions such as early detection and screening technologies, vaccines, advanced technologies to reduce errors and chronic disease management technologies and. Early detection and screening technologies segment is categorized as personalized medicine, automated screening and other advanced screening technologies. The vaccines segment comprises vaccines for disease areas such as allergy, infectious diseases, cancer, autism and others. Chronic disease management technologies include cardiovascular monitors, blood pressure monitors, asthma monitors, and glucose monitors. Advanced technologies to reduce errors segment is further categorized into electronic prescribing, computerized provider order entry system, smart infusion pumps, clinical decision support systems and smart packaging and automated prescription formulation and dispensing. A comprehensive business analysis in terms of market size and determining market trends is done for such segments for the duration 2015-2025.
A description of the market estimation of the above-mentioned segment for the duration 2015-2025 is covered in the scope of the report along with the individual market estimation for the respective countries in the regional segments.
A comprehensive study has also been presented in the report scope regarding the market dynamics that revolve around the global preventive healthcare technologies, products and services market. A brief understanding regarding the competition prevalent among the key players related to preventive healthcare, products and services has been discussed with the provision of competitive landscape. Porters five forces model has been included to understand the business environment of the market. The major players in global preventive healthcare technologies, products and services market are Alere, Inc., GlaxoSmithKline Plc, Healthways, Inc., McKesson Corporation, Medtronic Plc, Merck & Co. Inc., Pfizer, Inc., Omni cell, Inc. and Scripto LLC.
The preventive healthcare technologies, products and services market is driven by key factors such as rising prevalence of chronic diseases, enhanced government spending on research and development in pharmaceuticals and biotechnology industries. Additionally, increasing public health awareness and tremendous demand for personalized medications will result in deep market penetration of the preventive healthcare technologies, products and services. At present, early detection and screening technologies holds the largest market share due to key drivers such as increasing drug discovery and development studies being performed for the launch of novel drug formulations and technological advancement in pharmacogenomics segment resulting in rising demand for personalized medications. Personalized medicine will also be the fastest growing sub-segment in the early detection and screening technologies market. Advanced technologies to reduce errors shows a promising sales forecast and will be the fastest growing market majorly due to factors such as stringent regulatory guidelines to implement and execute cGMP and cGLP guidelines during production activities to achieve flawless results in product quality assurance and validation. Smart packaging and automated prescription formulation and dispensing has gained importance due to the increase in the incidents reporting drug related adverse events with respect to product safety and drug dosage. The major players in preventive healthcare technologies, products and services market are Alere, Inc., GlaxoSmithKline Plc, Healthways, Inc., McKesson Corporation, Medtronic Plc, Merck & Co. Inc., Pfizer, Inc., Omnicell, Inc. and Scripto LLC.
North America was observed to be the largest preventive healthcare technologies, products and services market in the base year 2016. North America dominated the global market as the region is driven by key factors such as rising prevalence of chronic diseases, proactive role played by government healthcare agencies to promote drug discovery and development, and domicile of major players engaged in manufacturing of preventive healthcare technologies, products and services. The market growth in Europe is mainly attributed to increase in the strategic partnership between research academia and healthcare segment. Asia Pacific is estimated to be the fastest growing regional segment through the forecast period 2021-2029. Factors that are anticipated to propel the market growth in Asia Pacific are a large patient pool with several health complications which requires immediate medical consultation and treatment. Enhanced government health departments spending to harness the performance of R&D activities for the launch of novel vaccines and competitive market due to presence of existing and budding market players involved in the provision of preventive healthcare technologies, products and services. Moreover, factors such as inclination to maintain healthier lifestyle and health awareness campaigns by major pharma companies regarding contagious diseases and their prevention are also going to fuel the rapid growth of preventive healthcare technologies, products and services market in Latin America, and Middle East and Africa in the near future.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Preventive Healthcare Technologies, Products And Services market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
