Health Check-up Industry Overview

The global health check-up market size was valued at USD 48.71 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030.

The market growth is attributable to the increasing prevalence of chronic diseases, rising investments from government bodies to establish population medical screening initiatives, and the adoption of telemedicine home-based services. For instance, in May 2023, the Indian Health Ministry launched a medical screening initiative for people with hypertension and diabetes. This initiative will provide standard care to around 75 million people suffering from non-communicable diseases by 2025.

Gather more insights about the market drivers, restrains and growth of the Health Check-up Market

Moreover, the introduction of telemedicine in general healthcare practices fueled the home-based testing market, while the healthcare ecosystem's digital connectivity framework powered the health check-up market during the COVID-19 pandemic. The increasing prevalence of life-threatening diseases is one of the key drivers for the industry. Additionally, non-communicable diseases such as diabetes, hypertension, cancer, and cardiovascular diseases are increasing, which often remain asymptomatic in the early stages. For instance, as per an AMGA article, more than 30% of the U.S. population suffers from prehypertension, increasing the chances of developing high blood pressure. Regular health check-up allows individuals to manage the condition effectively, as only 1 in 4 U.S. adults have their hypertension under control.

Additionally, government bodies are undertaking initiatives to screen the target population for different medical conditions. For instance, the U.S. Preventive Services Task Force (USPSTF) recommends yearly screening for adults aged 18 and older to manage blood pressure risks. Similarly, Middle Eastern economies have initiated medical screening programs to raise awareness of the increasing hypertension prevalence. For instance, in May 2023, the Ministry of Health and Prevention (MoHAP) UAE launched a national campaign for the early detection of hypertension. By 2030, UAE plans to reduce the prevalence of high blood pressure by 30%. Hence, increasing recommendations from government bodies will be key drivers for the global market.

The global market is experiencing innovation driven by the adoption of digital technology in the healthcare ecosystem. In the Europe region, countries are integrating medical services to improve healthcare facilities across multiple countries, which is driving the need for digital technologies. For instance, in June 2022, Nordic countries launched Nordic Interoperability Project (NIP) which aims to enable healthcare service providers in Sweden, Denmark, Norway, Finland, and Iceland to evaluate an integrated digital medical ecosystem focused on self-management and preventive care. Additionally, a proposal from the European Commission in May 2022 plans to create a European Health Data Space, which will harness the medical data of nearly 450 million people, thereby establishing cross-border digital healthcare connectivity. Increasing health monitoring through digital platforms will increase the adoption of general preventive tests over the forecast period.

The availability of health insurance coverage that includes preventive care benefits encourages individuals to undergo routine check-ups, thereby driving market growth. For instance, as per the U.S. CDC, private health insurance in the U.S. covers around 66% of the insured population. In recent years, there has been a shift in insurance policies to prioritize preventive care. Most insurance providers now include preventive care services, such as health check-ups, vaccinations, and screenings, as part of their coverage at no additional cost. Furthermore, insurance companies require policyholders to undergo medical risk assessments as part of the underwriting process. These assessments typically involve health check-ups and help insurers assess the individual's wellness and determine appropriate coverage and premiums. Hence, underwriting processes and growing awareness of preventive care are anticipated to drive market growth

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Key Health Check-up Company Insights

The key players operating in the health check-up industry are enhancing healthcare services and increasing strategic initiatives such as collaboration between government and private companies to enhance the efficiency and effectiveness of medical screening services. Moreover, the increasing introduction of direct-to-customer tests is further anticipated to fuel the market growth over the forecast period. For instance, in February 2023, Hurdel launched a Vitamin D test in the U.S., which will be sold on the company’s online store. Furthermore, the preventive test will allow the physicians to discuss concerns over chronic conditions and wellness. Some prominent players in global health check-up market include:

• Quest Diagnostics Incorporated
• Laboratory Corporation of America Holdings
• SYNLAB International GmbH
• OPKO Health, Inc. (BioReference Health, LLC.)
• Eurofins Scientific
• UNILABS
• Sonic Healthcare Limited
• ARUP Laboratories
• Q2 Solutions
• com

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