October 2024
The worldwide third-party health check-up center market is experiencing significant expansion, with projections indicating a revenue increase reaching several hundred million dollars by the end of the forecast period, spanning 2024 to 2034. This growth is driven by emerging trends and strong demand across key sectors. The demand for health check-up centers is growing due to growing awareness about preventive care.
A third-party health check-up center is a medical facility that operates on its own, separate from departments or in-house health check-up centers inside healthcare organizations. These facilities specialize in doing thorough medical examinations to determine a person's risk factors, determine their current state of health, and spot early indicators of possible illnesses. Third-party health check-up facilities support overall health management and disease prevention by helping people understand their health conditions and take required preventative action. They do this by offering systematic check-up services.
There are several factors that contribute to the growth of the third-party health check-up center market. One of the prominent reasons is the growing prevalence of chronic conditions. These conditions require continuous monitoring and treatment, and the patients must continuously visit health check-up centers. Another driver is the aging population, which is prone to various age-related health issues, including chronic conditions. Due to strict policies, companies are investing in wellness programs that encourage employees to do regular health check-ups. Other factors that contribute to the market’s growth include government initiatives and technological advancements.
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Telehealth and remote monitoring create new growth opportunities for the third-party health check-up center market. Healthcare services in remote areas and for patients who cannot travel due to health conditions can be covered using telehealth and remote monitoring. It is also capable of increasing patient satisfaction due to increased patient engagement and timely treatment. It is not only helpful in cost reduction, but it is also beneficial in avoiding hospital-acquired infections. Overall, telehealth and remote monitoring will become a more prominent part of health check-ups in the future, especially due to the growing technological advancements.
The third-party health check-up center market faces growth restraint due to the high initial cost. A lot of investment is needed for infrastructure, equipment, technology, and healthcare professionals, which can prevent many people from opening a health check-up center.
North America Dominated the third-party health check-up center market in 2023. North America is a developed country where people are aware of the importance of general health check-ups. Americans visit health check-up centers on a regular basis for preventive care. Apart from this, government regulations also encourage people and organizations to conduct health check-ups. It not only improves the quality of life but also reduces the financial burden on the healthcare industry. The U.S. and Canada are the two major countries that contribute majorly to the market’s growth in North America.
In the U.S., there is a U.S. Preventive Services Task Force that provides guidelines for men, women, and children for preventive care. In 2023, the Affordable Care Act, the health insurance reform legislation, was passed in order to make preventive services more accessible and affordable in the U.S. This ensures that Americans stay healthy, delay or avoid the onset of diseases, lead a productive life, and spend less on healthcare.
Canada holds the second-largest share of the North American third-party health check-up center market. This is due to various policies and initiatives developed by the government of Canada for providing quality life to people. For instance, the government of Canada has a departmental plan that is focused on improving the quality and accessibility of healthcare services.
Asia Pacific is expected to grow at the fastest rate during the forecast period. The third-party health check-up center market is growing in Asia Pacific due to the growing number of health issues, government programs to promote better health, investment by key players, and technological advancements. China, India, Japan, and South Korea majorly contribute to the growth of the market.
The government of India has taken various initiatives to promote better healthcare, which impacts the market’s growth positively. Some of the initiatives include Ayushman Bharat, National Health Mission, Jan Aushadhi Kendras, and Arogya Bharat. An annual maximum of Rs. 5 lakhs is provided for secondary and tertiary care hospitalization under the world's biggest publicly funded health insurance scheme, Ayushman Bharat Pradhan Mantri - Jan Arogya Yojana (AB PM-JAY). This applies to families. There are currently 12 crore families, or 55 crore individuals, covered by the scheme. A significant expansion has been made to the infrastructure for TB laboratory services. A total of 6196 new molecular diagnostic laboratories have been established during the past nine years, with an 80% increase in the number of Designated Microscopy Centers (DMCs) from 13583 in 2014 to 24449 in November 2023. From 127 drug-resistant TB treatment centers in 2014 to 792 in 2022, more will be available.
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By type, the general check-up segment dominated the third-party health check-up center market in 2023. General check-ups are conducted on a daily basis to address basic healthcare needs. Apart from this, many organizations take the initiative for the well-being of their employees in which they conduct regular health check-up programs. Also, it is compulsory in schools, colleges, universities, and many industries to conduct general health check-ups, which promotes the growth of the segment.
By type, the specialized check-up segment is expected to grow at the fastest rate during the forecast period. There is a growing demand for specialized health check-ups for various diseases. Many health check-up centers are being developed that focus on only one specialized area. Such centers have highly skilled professionals and advanced equipment that provide better diagnostic results. People opt for such centers to get better insights into personalized treatment options.
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October 2024
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Deepa has certified the degree of Master’s in Pharmacy in the Pharmaceutical Quality Assurance department from Dr D.Y. Patil College of Pharmacy. Her research is focused on the healthcare industry. She is the author or co-author of four Review Articles, which include Solid dispersion a strategic method for poorly soluble drugs and solubility improvement techniques for poorly soluble drugs, Herbal Drugs Used In Treatment Of Cataracts, Nano sponges And Their Application in Cancer Prevention and Ayurvedic Remedies of Peptic ulcer. She has also published a Research Article on the Formulation and Evaluation of Mucoadhesive Tablets of Miconazole cocrystal which was published in GIS Science Journal Volume 9 Issue 8. Her passion for secondary research and desire to take on the challenge of solving unresolved issues is making her flourish is the in the research sector.