Preventive Healthcare Technologies and Services Market to Develop at CAGR of 13% During Forecast Period, Observes TMR Study

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May 05, 2022, 22:30 ET

Increase in demand for technological upgrades to healthcare systems and self-monitoring devices is likely to lower cost burden. This factor is expected to propel the global market during the forecast period.
Personalized medicine is an extremely promising segment in the global market due to significant expenditures in genomes and proteomics research

ALBANY, N.Y., May 6, 2022 /PRNewswire/ -- The global preventive healthcare technologies and services market was valued at US$ 217.09 Mn in 2020. The global market is estimated to rise at a CAGR of 13% during the forecast period, from 2021 to 2028. The market is likely to attain the valuation of US$ 557.47 Mn by 2028. Increasing need of technology upgrades to healthcare systems and self-monitoring equipment is expected to lower costs, which is further likely to boost the global preventive healthcare technologies and services market. Supportive government programs for increasing societal awareness about vaccination via government as well as non-government entities, and utilization of healthcare information technology, are likely to drive the global market in the forthcoming years.

GMPs are observed throughout the entire manufacturing procedure and delivery of life-changing pharmaceuticals & medical equipment. The machine learning (ML) technology is expected to gather steam with growth in the deployment of computerized provider order input systems and automated prescription systems.

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Due to rise in the number of telehealth kiosks installed by different clinics and pharmacies, as well as a growing preference for automated melanoma screening procedures, the automated screening category is expected to rise at a high rate during the forecast period. Firms in the global market are boosting R&D activities on personalized medication and automated screening technologies based on early detection and screening technologies.

Key Findings of Market Report

Government initiatives promoting initiatives and understanding of prophylaxis, as well as uptake of healthcare information technology are likely to fuel the global preventive healthcare technologies and services market. Lower healthcare costs as a consequence of increasing use of healthcare information technology, and rising demand for self-monitoring devices are projected to drive the global market.
Technologies, including clinical decision support systems, electronic prescribing, and automated prescription, as well as formulation and dispensing are still in their early stages of development. Once commercialized, these technologies are likely to propel the market.

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Based on early detection and screening technologies, personalized medicine was the leading category in the global market in 2020, owing to increase in funding for proteomics and genomics research
During the forecast period, North America is expected to be one of the leading and rapidly expanding regions in the global preventive healthcare technologies and services market. Favorable reimbursement policies, leading healthcare firms, considerable adoption of information technology, and understanding of preventive healthcare technologies are contributing to the development of the North America market.

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Global Preventive Healthcare Technologies and Services Market: Growth Drivers

Physicians and pharmacists have been discouraged from using healthcare IT due to the absence of patient engagement activities. The COVID-19 outbreak, on the other hand, has resulted in a surge of digital systems, which is projected to boost the use of healthcare IT, particularly in developing markets. eHealth mobile apps and Telehealth, for instance, are predicted to boost the healthcare IT sector, which, in turn, is likely to trigger market growth.
Due to rising demand for automated melanoma screening procedures and establishment of telehealth kiosks by clinics & pharmacies, the automated screening category is projected to grow at a high rate in the years to come

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Global Preventive Healthcare Technologies and Services Market: Key Competitors

GlaxoSmithKline plc.
Myraid Genetics, Inc.
Omron Healthcare, Inc.
Noxx Systems, Inc.
U-Systems, Inc.
Alere, Healthways, Inc.

Global Preventive Healthcare Technologies and Services Market: Segmentation

Early Detection & Screening Technologies

Personalized Medicine
Automated Screening
Other Advanced Screening Tests

Prophylaxis Technologies

Personalized Medicine
Automated Screening
Other Advanced Screening Tests

Advanced Technologies to Reduce Errors

Electronic Prescribing
Computerized Provider Order Entry Systems
Clinical Decision Support System
Automated Prescription, Formulation, and Dispensing
Smart Infusion Pumps
Smart Packaging

Chronic Disease Management Technologies

Blood Pressure Monitors
Glucose Monitors
Cardiac Monitors
Asthma Monitors

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

Preventive Medicine Market: The preventive medicine market is extrapolated to shine bright through the forecast period of 2018-2026 on the grounds of the rising awareness about the importance of early detection of diseases among a considerable chunk of the global populace. The benefits etched with personalized medicines, and the heightening support of the government bodies of numerous countries will bring tremendous growth opportunities for the preventive medicine market.

On-site Preventive Care Market: Nowadays, various organizations are providing their employees with on-site preventive care services and representative services relating to healthcare in their work place. As these services, help the employees to get effective healthcare and depend less on off-site preventive care. The on-site preventive care services include nutrition management, chronic disease management, acute care, wellness and coaching, diagnostic screening, and others.

Preventive Asthma Drugs Market: Asthma is a chronic lung disease characterized by narrowing of airways and continual, marked inflammation and in response to specific triggers, which are usually reversible. If the management of the conditions are not done properly, this may elevate the risk of asthma attacks and even medical emergencies. Most, if not all, asthma attacks are preventable, especially in adults. Notwithstanding this fact, world over there is a rising prevalence of asthma, which is closely linked to the severity and mortality of the disease.

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