As per FMI Analysts, the global preventive medicine market is estimated to be valued at US$ 396.63 billion in the current year 2023. According to the analysis report by FMI, the overall market is projected to expand at a CAGR of 8.4% during the forecast period from 2023 to 2033. By following this robust growth rate, the global market share value is expected to reach nearly US$ 886.59 billion by 2033.
Pharmacies have identified a sustainable model for sales of preventive medicine, by improving awareness of people along with expanding availability. Access to education has contributed to the growth in demand for preventive medicine as well.
The journal Health Affairs reports that the United States of America is going to save only 0.2% of its healthcare expenditures even when 90% of the population demands preventive medicines. Further, reforming attitudes of individuals along with increasing the supply across local stores has also contributed to this growth in sales of preventive medicine in the last couple of years.
Europe’s preventive market share is growing well with a market share of 36% as a result of the success of risk factor epidemiology in the region. It led to the enactment of a wide range of preventive measures, such as legislation to limit tobacco advertising and smoking in public places, and community-based health education programs, propelling the demand for preventive medicine indirectly
Asia may record significant growth in sales of preventive medicine due to its huge population that still believes in preventive measures, but lack of awareness may also negatively affect the market. China and India might also benefit from the rise in private organizations managing public hospitals and health insurance companies for sustaining the market share in the region.
| Report Attributes or Data Points | Details |
|---|---|
| Global Preventive Medicine Market Valuation in 2022 | US$ 371.88 billion |
| Estimated Global Market Share in 2023 | US$ 396.63 billion |
| Forecasted Global Market Size by 2033 | US$ 886.59 billion |
| Projected Global Market Growth Rate from 2023 to 2033 | 8.4% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 5.5% CAGR |
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The worldwide sales and consumption of preventive medicines, in terms of value, was mere US$ 284.6 billion in the year 2018. The global market expanded at an average of 5.5% over the years between 2018 and 2022 because of rising prices for medicines, medical devices, medical treatments, and surgical procedures.
Pharmaceutical companies are generating huge demand for preventive medicine as they struggle with their current model, which is neither profitable nor fulfilling. Furthermore, other studies have similarly demonstrated that preventive measures do not increase life expectancy which has posed a negative impact on the demand for preventive medicines.
The preventative medicine market has also not yet fully realized its potential to limit healthcare expenditures because the return on investment has never been explained. It has also kept people from becoming involved in this field, affecting the demand for preventive medicine to certain degrees.
| Category | By Specialty Area |
|---|---|
| Top Segment | Public Health and General Preventive Medicine |
| Market Share in Percentage | 43.2% |
| Category | By Distribution Channel |
|---|---|
| Top Segment | Hospitals |
| Market Share in Percentage | 37.8% |
There are several factors contributing to the rise in demand for preventive medicine in the global market, including the rising prices of medicines, medical devices, treatments, and surgical procedures. Also, it seems that pharmaceutical companies are taking an interest in sales of preventive medicine as they are facing problems with their traditional pharmaceutical business model, which is neither profitable nor sufficiently fulfilling the market needs, affecting the business worldwide.
The demand for preventive medicine has received a lot of traction in the healthcare sector recently. Therefore, the pharmaceutical industry has identified and promoted a sustainable model of collaborating with regional players, which has contributed greatly to the growth of the overall market share. This has also posed a setback for the sales of preventive medicine in the market, mainly because a broad coalition of pharmacy companies includes big players and small start-ups, as well as corporate and academic organizations.
Another obstacle to increasing the demand for preventive medicine is its potential to limit healthcare expenditures because the return on investment was never clearly communicated by private players.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 43.2% |
| Europe | 36.7% |
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With a market share of 42%, North America lags behind other countries when it comes to sales of preventive medicine in terms of volume because players are not as interested as in Asia Pacific countries.
A vast coalition of drug companies and start-ups with commercial organizations and academic institutions is needed, which is rare in the country for North America’s market share to succeed. This is one of the key hurdles for the sales of preventive medicine by the market players in the United States of America and Canada.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 38.3% |
| Germany | 8.5% |
| Japan | 3.3% |
Europe’s market share is growing well with a 36% market share value, thanks to the success of risk factor epidemiology in the region, which has led to a wide range of preventive measures. Also, several countries in Europe have been conducting campaigns to reduce cardiovascular disease burden, and Asia may support its significantly growing demand for preventive medicine. However, a lack of awareness could also impact the sales of preventive medicine
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 5.9% |
| China | 10.3% |
| India | 8.4% |
| Australia | 7.5% |
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Some of the leading companies operating in the global 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 USA, Preventive Medicine.
In preventive medicine, the example that stands out is immunizations, which are the best way to reduce the financial burden on the economy of any country from several life-threatening diseases. Also, cancer screenings for ovarian cancer, testicular cancer, and prostate cancer through PSA tests, and routine use of aspirin by cardiovascular patients are some of the key opportunities for market players to increase their sales of preventive medicine.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 8.4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization & Pricing | Available Upon Request |
The global sales of preventive medicine are anticipated to expand at 8.4% during the forecast period.
The global market is predicted to be valued at US$ 886.59 billion by 2033.
The global sales of preventive medicine were valued at US$ 371.88 billion in 2022.
The United States accounts for nearly 38.3% revenue share of the global market.
China is to witness a CAGR of 10.3% in sales of preventive medicine through 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Specialty Areas 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Specialty Areas, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Specialty Areas, 2023 to 2033 5.3.1. Aerospace Medicine 5.3.2. Occupational Medicine 5.3.3. Public Health and General Preventive Medicine 5.4. Y-o-Y Growth Trend Analysis By Specialty Areas, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Specialty Areas, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channels 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Distribution Channels, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Distribution Channels, 2023 to 2033 6.3.1. Hospitals 6.3.2. Diagnostic Centers 6.3.3. Employers 6.4. Y-o-Y Growth Trend Analysis By Distribution Channels, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Distribution Channels, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Specialty Areas 8.2.3. By Distribution Channels 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Specialty Areas 8.3.3. By Distribution Channels 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Specialty Areas 9.2.3. By Distribution Channels 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Specialty Areas 9.3.3. By Distribution Channels 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Specialty Areas 10.2.3. By Distribution Channels 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Specialty Areas 10.3.3. By Distribution Channels 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Specialty Areas 11.2.3. By Distribution Channels 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Specialty Areas 11.3.3. By Distribution Channels 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Specialty Areas 12.2.3. By Distribution Channels 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Specialty Areas 12.3.3. By Distribution Channels 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Specialty Areas 13.2.3. By Distribution Channels 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Specialty Areas 13.3.3. By Distribution Channels 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Specialty Areas 14.2.3. By Distribution Channels 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Specialty Areas 14.3.3. By Distribution Channels 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. U.S. 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Specialty Areas 15.1.2.2. By Distribution Channels 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Specialty Areas 15.2.2.2. By Distribution Channels 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Specialty Areas 15.3.2.2. By Distribution Channels 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Specialty Areas 15.4.2.2. By Distribution Channels 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Specialty Areas 15.5.2.2. By Distribution Channels 15.6. U.K. 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Specialty Areas 15.6.2.2. By Distribution Channels 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Specialty Areas 15.7.2.2. By Distribution Channels 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Specialty Areas 15.8.2.2. By Distribution Channels 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Specialty Areas 15.9.2.2. By Distribution Channels 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Specialty Areas 15.10.2.2. By Distribution Channels 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Specialty Areas 15.11.2.2. By Distribution Channels 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Specialty Areas 15.12.2.2. By Distribution Channels 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Specialty Areas 15.13.2.2. By Distribution Channels 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Specialty Areas 15.14.2.2. By Distribution Channels 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Specialty Areas 15.15.2.2. By Distribution Channels 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Specialty Areas 15.16.2.2. By Distribution Channels 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Specialty Areas 15.17.2.2. By Distribution Channels 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Specialty Areas 15.18.2.2. By Distribution Channels 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Specialty Areas 15.19.2.2. By Distribution Channels 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Specialty Areas 15.20.2.2. By Distribution Channels 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Specialty Areas 15.21.2.2. By Distribution Channels 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Specialty Areas 15.22.2.2. By Distribution Channels 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Specialty Areas 15.23.2.2. By Distribution Channels 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Specialty Areas 16.3.3. By Distribution Channels 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Novo Nordisk 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Eli Lilly 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Quanterix 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Aetna Inc. 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Preventive Medical Health Care Co. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. LTD. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Cancer Prevention Pharmaceuticals, Inc. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Phoenix Medicine 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. American College of Preventive Medicine 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. USA, Preventive Medicine. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Preventive Medicine Market
