by Market Overview:
 Medical health screening services involve various diagnostic tests performed to assess an individual’s health status even without the presence of any signs or symptoms. These screening services help in early detection of diseases and preventing health complications. Some common screening tests include blood tests, cardiometabolic screening, cancer screening, and many more.
Market key trends:
One of the key trends in the medical health screening services market is increasing adoption of preventive health screening. With growing health awareness and focus on preventive healthcare, individuals are opting for regular health check-ups to identify health issues in early stages. As per studies, preventive health screening can help in reducing mortality rates from diseases like cancer and cardiovascular diseases by detecting issues at treatable stages. This is a major factor driving increased demand for preventive health screening services globally.
The medical health screening services market has been witnessing considerable growth due to the increasing prevalence of chronic and lifestyle diseases globally. The rise in the geriatric population who are more prone to developing health issues has further propelled the demand for medical screening services to detect diseases at an early stage. Moreover, growing awareness among consumers regarding the importance of preventive healthcare is also driving the market. However, high screening costs continue to hinder the widespread adoption of these services.
The global Medical Health Screening Services Market Demand is estimated to be valued at US$ 26.56 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strengths: Early detection of diseases, Preventive healthcare approach, Growing awareness among consumers.
Weaknesses: High screening costs, Lack of accessibility in low-income regions.
Opportunities: Emerging markets with large untapped potential and technological advancements enabling new testing methods.
Threats: Availability of alternate cheaper alternatives, Stringent regulations surrounding data privacy.
Key Takeaways
The global medical health screening services market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is estimated to be US$ 26.56 Bn.
Regional analysis: North America dominates the medical health screening services market currently due to supportive government initiatives and higher spending on preventive healthcare in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period supported by growing medical tourism, rising healthcare expenditure and increasing focus of key players in emerging countries.
Key players: Key players operating in the medical health screening services market are Quest Diagnostics, Eurofins Scientific, SYNLAB International, Sonic Healthcare, LabCorp, Unilabs, Lifelabs, Healthscope, Clinical Reference Laboratory, ACM Medical Laboratory. Quest Diagnostics and SYNLAB International are the largest players with strong global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
