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| Medical Health Screening Services Market |
Medical health screening services involve various routine tests and examinations that are conducted to detect potential health problems through early diagnosis even if a person does not experience any signs or symptoms of a disease. These services help detect potential medical conditions through screening tests, physical examinations, and laboratory tests. Health screening tests help diagnose conditions like cancer, cardiovascular diseases, diabetes, thyroid disorders, and STDs at an early stage which increases chances of successful treatment. The global Medical Health Screening Services Market 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.
Market key trends:
The rising geriatric population worldwide has been a major driver of growth in
the medical health screening services market. Older individuals are more prone
to various chronic and life-threatening diseases and therefore require regular
health check-ups for early detection. According to estimates, the global
geriatric population is projected to reach approximately 1.5 billion by 2050,
up from about 703 million in 2019. Countries with large aging populations like
Japan, China, Italy, and the United States will witness significantly high
demand for preventive healthcare services like screening tests. This rising
demand from the geriatric demographic is a key trend that is expected to propel
the medical health screening services market forward over the forecast period.
Segment Analysis
The global medical health screening services market is dominated by the
laboratory testing sub-segment. This is because laboratory testing forms an
integral part of any health screening process. They help in early detection of
diseases by analyzing blood, urine or other samples to check for biomarkers, infections,
or other underlying conditions. Advanced laboratory testing services that can
run multiple tests using automated and high-throughput equipment further aid in
efficient health screening.
Key Takeaways
The global Medical
Health Screening Services Market Growth is expected to witness high
growth over the forecast period of 2023 to 2030. This can be attributed to
rising health awareness, growing geriatric population susceptible to chronic
diseases, and increasing adoption of preventive healthcare practices.
Regional analysis
North America is currently the dominant region in the global medical health
screening services market. This is due to presence of major players, high
healthcare expenditure, and favorable health screening coverage and
reimbursement policies in countries like the US and Canada. Asia Pacific is
expected to be the fastest growing region going forward due to rising
healthcare infrastructure, growing medical tourism industry and improving
access and availability of health screening services in heavily populated
countries like India and China.
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 LabCorp have led the market with
their wide network of patient service centers and labs across major regions.
However, other regional and local players also have significant market shares
based on their geographic coverage and service portfolios.
For more insights, read- https://www.ukwebwire.com/medical-health-screening-services-market/
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