Government Support will boost Preventive Medicine market size During Forecast Period ( 2017-2027)
Preventive Medicine Market: Drivers and Restraints
The key contributor to the growth of global Preventive Medicine market is rising prices of medicines, medical devices, medical treatments and surgical procedures. The pharmaceutical companies are taking more and more interest in preventive medicine as they are facing issues with the conventional pharma model, which is neither profitable nor fulfilling the demands. Hence the pharma industry has identified a sustainable model in preventive medicine. This has remarkably contributed towards the market growth. Reforming awareness of people along with increasing reach of education has also added value to the market growth. However, the success of the preventive medicine requires a huge coalition of pharma industry including big players and start-ups with corporate organizations and universities/academic institutions, which is rare. This is the major setback for preventive medicine market. Absence of stark evidences citing preventive medicine is a significant methodology to protect one from diseases may also limit the growth. Another factor limiting growth is that prevention medicine’s potential to limit the health care expenditure has not yet realized on a large scale because the return on investment has never been communicated, keeping people’s interest in this field at bay.
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Preventive Medicine Market: Segmentation
Global Preventive Medicine Market has been segmented on the basis of specialty areas, application, end user and region.
Based on specialty areas, the global Preventive Medicine Market is segmented into:
Public Health and General Preventive Medicine
Based on Distribution Channels, the global Preventive Medicine Market is segmented into:
Preventive Medicine Market: Overview
Global Preventive Medicine market is highly fragmented because of existence of multiple members providing these services. Most of the providers are clinical organizations, private groups that work in association with corporates/employers.
Preventive Medicine Market: Region-wise Outlook
Geographically, Preventive Medicine Market is segmented into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America is lagging behind other countries as far as preventive medicine market is concerned because of lack of interest of people. According to a journal, Health Affairs, USA will save only 0.2% of healthcare disbursement even when 90% of the population use preventive services. Few other studies have also indicated that preventive measures do not lower the risk of serious illness or premature death. European preventive market is growing well because of successes of the risk factor epidemiology in the region, which has led to the enactment of a wide-range of preventive measures, such as legislative policies to limit tobacco advertising and smoking in public places, health education for obesity, community promotional events for high blood pressure monitoring etc. Some European countries have been conducting campaigns to reduce cardiovascular diseases burden and their dreadful outcomes. Asia may register a rapid growth in the market based on a huge population that have keen faith in preventive medicine, but lack of awareness may equally impact the market. Rise in numbers of private organizations managing public hospitals and health insurance will boost the market growth in China and India.
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Preventive Medicine Market: Key Players
The key players in the global Preventive Medicine Market include Novo Nordisk, Eli Lilly, Quanterix, Aetna Inc., Preventive Medical Health Care Co., LTD., Cancer Prevention Pharmaceuticals, Inc., Phoenix Medicine, American College of Preventive Medicine and U.S. Preventive Medicine.
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