Table of Contents
What is Preventive Health
Chronic Disease
People spend a hefty lot of money every year on the treatment and management of chronic diseases. Chronic disease put almost 84% burden on the healthcare system. Such diseases progress slowly and remain in one’s life for a long period of time, at times over decades or many times almost half the lifespan of an individual.
Chronic diseases are long-lasting health problems that can not be treated and cured, but can only be managed. For example, once someone is diabetic, he can never recover from diabetes but can manage diabetes.
Preventive Health
Preventive health philosophy states that because chronic diseases can not be cured and will slowly progress toward a life-threatening acute state, if we can detect the disease early, monitor regularly and work towards the elimination of the disease in its early stage, then we can prevent the chronic diseases, and therefore can save the money of the individual, as well as reducing the load on the conventional healthcare.
The primary components of preventive health are:
- Screening(that means doing a basic level health test on a large population, and identifying if there is any future health risk or not)
- Early detection(the possibility of the presence of a disease much before the disease presents itself at the symptomatic level)
- Monitoring(data-driven monitoring of the parameters from which the early-stage disease is detected)
- Lifestyle intervention(because chronic diseases are caused by a bad lifestyle, changing the lifestyle is believed to bring the body to the initial stage)
- After the individual is recovered, follow-up tests are to ensure that the individual is really recovered and there is no trace of the disease left.
Based on the above assumption a global market is created which is valued at over $3,000 Billion today. VCs have poured billions of dollars into startups that have claimed to solve the problem of chronic diseases.
Preventive Health Market
The Global Preventive Healthcare Market size was estimated at USD 3,411.99 billion in 2021 and expected to reach USD 3,687.34 billion in 2022, and is projected to grow at a CAGR 8.32% to reach USD 5,512.89 billion by 2027
Global Preventive Healthcare Market Report
What is the impact of the Preventive Health Industry on Chronic Diseases?
A market never gets created unless people are ready to pay money for the solution. And if people are ready for the solution, the impact of the problem must reduce slowly. Right?
For example, you are hungry, you pay money, you buy food, you eat, and you are no more hungry.So, just like the hunger example, if preventive health was really a viable solution to chronic diseases, then after one pays money, one must not have chronic diseases. Therefore if a lot of people pay to prevent their health problems, then the prevalence of chronic diseases would reduce. Isn’t it?
