Preventive Healthcare Technologies and Services Market Outlook 2028

• The global preventive healthcare technologies and services market was valued at US$ 217.09 Mn in 2020
• It is estimated to expand at a CAGR of 13% from 2021 to 2028
• The global preventive healthcare technologies and services market is expected to reach the value of US$ 557.47 Mn by the end of 2028

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Analysts’ Viewpoint on Preventive Healthcare Technologies and Services Market Scenario

An increasing number of pharmacists and hospitals are investing in computer systems & software products to ensure robust supply of life-saving drugs & medical devices amid the ongoing COVID-19 pandemic. However, high installation and maintenance cost of healthcare IT & deficient patient engagement activities tend to demotivate physicians & pharmacists to adopt these preventive healthcare technologies. Hence, stakeholders in the preventive healthcare technologies and services market should increase awareness about the advantages of healthcare IT, which enables long-term cost efficiency and compensates for current high installation costs. The proliferation of digital technologies is expected to augment the growth of the preventive healthcare technologies and services market.

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Preventive Healthcare Technologies and Services Help Reduce Cost Burden

The rise in demand for technological upgrade of healthcare systems and self-monitoring devices is likely to reduce the cost burden, thus contributing to the growth of the global preventive healthcare technologies and services market. The global preventive healthcare technologies and services market is driven by favorable government policies for increase in social awareness about vaccination through governmental & non-governmental organizations and adoption of healthcare information technology (IT).

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Good Manufacturing Practices Instrumental in COVID-19 Vaccine Packaging and Delivery

Companies in the preventive healthcare technologies and services market have come under great scrutiny amid ongoing COVID-19 pandemic. The unprecedented demand for flu vaccines has compelled manufacturing units, medical packaging companies, and vaccine delivery centers to streamline processes with the help of healthcare IT.

Good manufacturing practices (GMP) continue to be followed during the entire production process and delivery of life-altering drugs & medical devices. The trend of on-demand products and services is growing prominent in the preventive healthcare technologies and services market. Technologies such as machine learning (ML) are anticipated to gain traction with increasing the adoption of automated prescription systems and computerized provider order entry systems.

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Proliferation of Digital Systems Holds Potentials for Patient Engagement with Healthcare IT

Constructive government policies that provide favorable environment for awareness & initiatives for prophylaxis and proliferation of healthcare information technologies are major drivers of the global preventive healthcare technologies and services market. Reduced healthcare cost burden due to penetration of the healthcare information technology and surge in demand for self-monitoring devices are key factors anticipated to propel the global market

However, high installation and maintenance costs have hampered the penetration of preventive technologies in developing economies such as India, Philippines, Bangladesh, and Sri Lanka. The lack of patient engagement activities has demotivated physicians and pharmacists to adopt healthcare IT. However, the COVID-19 pandemic has led to an influx of digital systems, which are expected to increase acceptance for healthcare IT in developing economies. Trends such as telehealth and eHealth mobile apps are expected to augment the market for healthcare IT.

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