Preventive Healthcare Market Size, Share, Global Sales Volume 2021: Future Trends, Top Key Players Review, Growth Estimation, Economic Factors, Business Strategies, Production and Supply Forecast to 2026

In a recent published report, Kenneth Research has updated the Market report for Preventive Healthcare Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Preventive Healthcare Market Products.

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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Preventive healthcare refers to the branch of medicine that helps in the early detection of diseases, thus allowing patients, access to prompt treatment. There are five stages of preventive healthcare – primal prevention, primordial prevention, primary prevention, secondary prevention and tertiary prevention.

Market insights:
In 2019, preventive healthcare accounted for ~11% of India’s overall healthcare expenditure. The preventive healthcare market in India was valued at INR 3.71 Tn in 2019 and is expected to reach INR 14.58 by 2025, expanding at a compound annual growth rate (CAGR) of ~27.30% during the 2020-2025 period.
The rise in prevalence of chronic and non-communicable ailments like hypertension, diabetes, arthritis, cancer and cardiovascular diseases, as well as the easy availability of advanced medical devices and services are driving the market to prosper. Moreover, the cost-effective nature of preventive healthcare has made it more adaptable for Indians. However, lack of awareness regarding preventive healthcare facilities among people and inadequate insurance coverage for preventive treatments are impeding market growth.

Segment Insights:
The preventive healthcare market in India is segmented into healthy consumption, fitness and wellness, infection prevention care, health monitoring, and wellbeing assurance segments. As of 2019, the preventive healthcare market was dominated by the healthy consumption segment, which accounted for ~26.55% of the total market revenue. The healthy consumption segment consists of nutraceuticals, healthy foods, organic skincare and other skincare products.
The wellbeing assurance market is anticipated to be the fastest growing, expanding at a CAGR of ~31.91% during the forecast period. The growth can be attributed to the increasing popularity of telehealth and telemedicine services, owing to the social distancing and self-isolation norms imposed to curb the spread of COVID-19. By 2025, fitness and wellness, infection prevention care, and health monitoring segments are expected to hold ~9.30%, ~16.15% and ~22.80% shares, respectively, in terms of market revenue.

COVID-19 impact analysis:
The outbreak of the novel Coronavirus, followed by a long-term global lockdown has had a severe impact on the overall preventive healthcare market in India. Market segments including health monitoring devices, healthy consumption products, digital healthcare services, telehealth services and telemedicine solutions are likely to benefit amid the crisis. The surge in demand for immunity-boosting consumption products and infection-prevention products, growing anxiety regarding hospital and outpatient visits, and initiatives undertaken by the Indian government to encourage preventive healthcare are likely to accelerate market growth. The fitness and wellness segment has witnessed a significant setback due to the risk of virus transmission from social gatherings, and the imposition of social distancing norms.

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Companies covered
• 3M India Limited
• Amway India Enterprises Private Limited
• Fitness First India Private Limited
• HealthifyMe Wellness Private Limited
• Practo Technologies Private Limited
• Serum Institute of India Private Limited
• Svasth Life Private Limited
• GOQii Technologies Private Limited
• OMRON Healthcare India Private Limited
• Xiaomi Technology India Private Limited

The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Preventive Healthcare Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Playes
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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