by Medical health screening services involve routine medical checks for early detection of diseases even before symptoms appear with an aim to promote preventive healthcare. These services encompass various screening tests for diseases like cancer, diabetes, cardiovascular issues and other lifestyle-related diseases. With rising health consciousness, growing geriatric population and increasing availability of medical screening facilities, people are opting for periodic screening to monitor their health status.
The global Medical Health Screening Services Market is estimated to be valued at US$ 30.6 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Preventive healthcare has gained significant prominence in recent years with growing health awareness. Demand for medical screening services has increased considerably as people are realizing the importance of early detection of diseases for effective treatment. Innovations in screening technologies have enabled development of more accurate, non-invasive and portable screening solutions. This has further boosted the adoption of medical screening services. Mobile health screening facilities along with online appointment booking and test result delivery options have made screening more convenient and accessible.
SWOT Analysis
Strength: Medical health screening services help detect diseases at an early stage which increases treatment effectiveness. Routine screening also helps in overall health management.
Weakness: High costs associated with advanced screening equipment and technologies limits widespread adoption. Lack of adequate health insurance coverage is also a challenge.
Opportunity: Rising healthcare expenditure and demand for preventive healthcare is driving the market. Growing geriatric population undergoing regular checkups opens new opportunities.
Threats: Stringent regulatory framework increases compliance burden. Emergence of alternative diagnostic methods can disrupt market share.
Key Takeaways
The global Medical Health Screening Services Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 30.6 billion.
Regional analysis: North America dominates the market currently owing to high awareness levels and healthcare spending. Asia Pacific is expected to grow at the fastest pace due to improving access to healthcare facilities across major countries.
Key players: Key players operating in the medical health screening services market are Oracle Corporation, Veeva Systems, Axion Real-Time Metrics, IBM Watson Health, CIMS Global, eClinical Solutions LLC, MMS Holdings, Calyx, Fortress Medical and Ennov. They are focusing on strategic partnerships and technology advancements to expand their service offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
