With the increased prevalence of high stress, sedentary lifestyle there has been a rise in incidence of chronic diseases such as diabetes, cardiovascular diseases such as heart failure, stroke, respiratory diseases such as asthma and lung diseases and other such disorders. These diseases do not just affect the quality of life but they also drive up healthcare expenses considerably. These diseases take root mainly because of factors such as lack of physical activity, poor nutrition, excessive alcohol and tobacco consumption and other such factors. As per the data revealed by the American Cancer Society, based on the 2013-2014 physical examination data, nearly 7 out of 10 adults in the U.S. were obese or overweight.
Most of these ailments do not occur overnight. Some of the key risk factors associated with chronic diseases are high blood pressure, tobacco use and passive exposure to smoke, physical inactivity, obesity, diets low in fruits and vegetables, excessive alcohol consumption and diets high in saturated fats and sodium. With the advent of early detection and screening techniques, chronic diseases can be detected at an early stage where risks can be easily mitigated. Monitoring devices such as blood pressure monitors, cardiovascular monitors, asthma monitors, blood glucose monitors can help in detecting signs of associated chronic diseases at an early stage where timely medical intervention can be sought. Similarly, vaccines can equip the body’s immune system to fight infections caused by disease causing pathogens. Vaccines can help in limiting the spread of resistance to antibiotics. Due to overuse and misuse of antibiotics, there has been a global increase in prevalence of diseases caused by drug resistant bacteria. Vaccination is an effective way to prevent the occurrence of such diseases and in turn prevent the need of antibiotics. As per the data revealed by WHO in April 2017, immunization through vaccination averts 2 to 3 million fatalities from diphtheria, pertussis, tetanus and measles.
With technological advancements in medicine, sophisticated tools are available to assist in preventive healthcare and reduce human errors in dispensing the treatments. Automated prescription formulation and dispensing systems ensure the delivery of the right drugs in the right quantity to the patients thus avoiding dispensing the wrong medication. A smart infusion pump is another such advanced solution which allows organizations to create a library of medications which provides suitable medication dosing guidelines by establishing dose limits, concentrations and clinic advisories. Such medication libraries can be customized for specific needs of different patients. The clinical advisory in the library contains relevant information about drugs which is displayed on the screen of the smart pump when a drug is selected from the library. These devices also have alert systems for patients in order to inform them about potential errors in dosages. Clinical decision support systems can assist the clinicians to assess and manage risk factors related to chronic disorders such as cardiovascular diseases. These systems provide tailored assessments along with treatment recommendations to the clinicians based on individual patient data.
Some of the major driving factors for preventive healthcare technologies and services market are rising awareness about the vital benefits of preventive healthcare, adoption of technological measures to develop smart devices to minimize human errors and patients’ desire to minimize healthcare expenses through early detection and cure of diseases. Also, rising prevalence of geriatric population highly susceptible to chronic diseases is also expected to fuel the market growth over the coming years. However, factors such as high installation and maintenance costs of the sophisticated devices and dearth of patient engagement activities to promote preventive healthcare can hinder the market growth.
The key players operating in preventive healthcare technologies and services market follow product development as their key strategy to protect and increase their market share. Such product development is facilitated by advanced research to develop new vaccines and technological advancements to design highly sophisticated devices for preventive healthcare. Some of the major players present in the preventive healthcare technologies and services market are ScriptPro LLC, Omnicell, Inc., LIFECOM, Inc., Myriad Genetics, Inc., Dilon Technologies, Inc., NOVX Systems Inc., Medtronic plc, Omron Healthcare, Inc., Sanofi and Merck & Co., Inc.
Preventive Healthcare Technologies and Services Market Segmentation
- Infectious Diseases Vaccine
- Allergy Vaccine
- Cancer Vaccine
- Autism Vaccine
- Other Vaccines
- Chronic Disease Management Technologies
- Blood Pressure Monitors
- Glucose Monitors
- Cardiovascular Monitors
- Asthma Monitors
- Advanced Technologies to Reduce Errors
- Electronic Prescribing
- Smart Infusion Pumps
- Clinical Decision Supports System
- Smart Packaging and Automated Prescription Formulation and Dispensing
- Computerized Provider Order Entry System
- Early Detection and Screening Technologies
- Automated Screening
- Personalized Medicine
- Other Screening Technologies
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country