Preventive Healthcare Market Making Comeback with Growth; Expected CAGR of ~27.30% | HealthifyMe Wellness, Practo Technologies, Serum Institute of India

A new research document is added in HTF MI database of 56 pages, titled as 'Preventive Healthcare Market in India 2021' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe, Asia-Pacific, South America, Middle East and Africa and important players/vendors such as 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 Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2021-2026.

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Summary
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.

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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

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Market overview
4.1. India preventive healthcare market – overview
4.1.1. Market size and growth forecast based on value (2018-2025e)

Chapter 5: Market segmentation
5.1. India preventive healthcare market – segmentation
5.1.1. India preventive healthcare market share based on type (2018-2025e)
5.1.2. India healthy consumptio

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This release was published on openPR.