PUBLISHER: Grand View Research | PRODUCT CODE: 1375885
PUBLISHER: Grand View Research | PRODUCT CODE: 1375885
The global preventive healthcare technologies and services market size is expected to reach USD 585.6 billion by 2030, registering a CAGR of 11.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Key factors driving the market expansion include the growing awareness about preventive measures, which enhance the quality of life, lifespan, and minimize the possible healthcare spending.
The growth of this market is attributed to the adoption of advanced technology and the development of preventive measures, including vaccines, screening & monitoring devices, and smart devices to reduce medical errors. Growth of the market is also fueled by factors such as reducing the birth rate that is resulting in an increase of the geriatric population, which is more prone to chronic diseases.
With the introduction of the Human Development Index (HDI) ratings since 2010, all countries are engaged in the overall development of their country and citizens. Life expectancy has a significant impact on HDI calculations. Governments of the countries have been focusing on improving life expectancy of the people by implementing various programs, including free or affordable vaccination, smoking cessation, and affordable insurance schemes. These programs cause a direct positive impact on preventable technologies and services space.
A large share of preventive healthcare includes early detection and screening technology. This segment pertains to personalized diagnostic techniques, which has captured the largest share owing to the accuracy and availability of the innovative techniques for diagnosis.