The rising need for physical examination, regular check-ups, and medical follow-up is providing new opportunities to the physical examination market.
The global Physical Examination market is projected to reach US$ 453960 million by 2028, growing at a CAGR of 3.8 %
Covid-19 Impact & Market Status
The COVID-19 situation had a severe impact on business and various IT sectors. Due to lockdown, many companies were forced to stop their work due to the unavailability of labourers, infrastructure, transportation, and many other factors. This also affected the growth of the physical examination market as the treatment of people living in remote areas became difficult due to the unavailability of transport facilities. This was solved with the application of advanced tools and techniques that provided automated robotic devices for monitoring and tracking patients.
In this way, many people were treated timely. Also, this solved the issue of unavailability of beds and wards for patients as the hospitals were full of COVID patients and the treatment of other patients took a long time.
Advanced technology and tools are upgrading the global physical examination market.
The services provided by the physical examination market require the support of advanced tools and techniques to support the converge of a large section of people. There are many cases when there is an immediate requirement of advanced and complex surgeries, in such cases, immediate action is required. This is aided by the latest services and tools like tumour diagnosis, ECG, CT Scan, and much more that help the patient to recover during its early stages.
In this way, the diagnosis and treatment of people living in remote areas are made possible by connecting them to the healthcare centre via software applications in case of emergency. It helps in regular monitoring and analysis of patients’ health and keeps the doctor updated with the regular analysis made by the robotic devices and trackers. Hence, it helps in the enhancement of services provided by the healthcare centres and various potential companies with government support are looking for technology updates to switch to a more feasible alternative.
The growing technical developments produce modern examination tools and techniques that drive the global physical examination market.
Currently, many nations are facing an increase in the ratio of death rate as the health of many people is deteriorating at a fast pace. This is because people take several symptoms lightly like cold, fever, cough, dizziness that impacts their physical and mental health to a great extent.
Many common symptoms may lead to various fatal diseases, hence, their timely diagnosis is mandatory to ensure that they are treated properly. For this, there is an urgent requirement of physical examination centres that would take care of every infected person and treat them properly. Currently, there is a shortage of tools, medicines, and labourers as everyone is busy fighting the coronavirus. The shortage of beds in hospitals is a serious problem. This is a serious issue and requires immediate action so that other infected or ill people can take their medication timely.
For this, the government of various nations has taken severe steps by increasing the overall expenditure on healthcare sectors. This expenditure is used to buy more infrastructure, medicines, tools, and other necessities for setting up an external physical check-up camp or any other platform for treating the patients who are waiting for their turn. In this way, many people can get their physical examination done timely. This helps to save people from dying from a fatal disease due to lack of treatment or timely treatment. Hence, this is one of the important measures taken to rescue people by providing them with an alternative way of doing their physical examination.
The Compound Annual Growth Rate (CAGR) of the global physical examination market is expected to be 10.2% with increased market size of USD 2.85 Billion.
The advanced tools and techniques brought by technical advancements and developments are providing a convenient way of physical examination and driving the physical examination market. With the help of modern technology, the healthcare market has experienced tremendous growth and high market value as various complex cases and operations can be solved timely and effectively. This is because the data and analysis provided by these sophisticated machines and technology are highly precise and can be used for the prediction of similar diseases. In this way, the proper record of any fatal or new disease is maintained that can be used to track its growth and mutation.
Apart from this, the physical examination of remote areas has always been a crucial task as these areas don’t have any nearby health centre that would have the required equipment. Hence, a medical team needs to bring all the necessary tools, medicines, and skilled doctors while going for a physical examination in a remote area. Also, proper arrangement of the ambulance is required in case a patient needs to be transferred from the remote area to the healthcare centre for diagnosis or treatment of any serious disease. Hence, various points should be considered before sending a medical team to a remote centre.
The physical examination at a remote location has always been a hectic task that requires high skills and advanced equipment. For this, various advanced technologies like artificial intelligence, big data, machine learning, etc. have provided various tools that can connect with people at a remote location and provide first aid. These tools are automated and help the patients to discover some diseases by analyzing their symptoms. They also provide them with a list of precautions, medicines, and necessary measures that they should follow.
In this way, a physical examination campaign can be successful as it covers a wide number of people from different regions. Physical examination track the recovery of patients. Hence, these campaigns require sufficient staff, tools, and other equipment. For this, the latest technology provides various software platforms to keep track of the things that are required and need to be purchased. In this way, tracking and monitoring tasks are made easy.
Though physical examination is an important task, it has its restrictions that include high expenses. The setting up of physical examination centres is very expensive as involves the latest tools, expensive machines and medicines, etc. Therefore, many potential companies are trying their best to bring down the total budget by finding an alternative solution to the expensive tools. In this way, the physical examination market can experience high market growth.
Source: Adroit Market Research © 2021
The major players of the global physical examination market are AcuMed Medical, Kaiser Permanente, Tokyo Midtown Clinic, Bupa, Raffles Medical Group, Health 100, Lifescan Medical Centre, IKang Group, Seoul Medicare, Japanese Red Cross, St. Luke’s International Hospital, Rich Healthcare, Mediway Medical, Mayo Clinic, Sun Medical Centre, Nuffield Health, PL Tokyo Health Care Centre, Cleveland Clinic, Seoul National University Hospital, Cooper Aerobics, Milord Health Group, and Samsung Total Healthcare Center.
Latest Innovations in the Global Physical Examination Market: a Snapshot
- Many South Korean and Chinese health centres and potential companies are trying their best to increase the CAGR of the physical examination market by the end of the forecast period.
Physical Examination Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2.85 Billion|
|Growth Rate||CAGR of 10.2% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||AcuMed Medical, Kaiser Permanente, Tokyo Midtown Clinic, Bupa, Raffles Medical Group, Health 100, Lifescan Medical Centre.|
Key Segments of the Global Physical Examination Market
Type Overview, 2018-2028 (USD Billion)
- Routine Physical Examination
- Comprehensive Physical Examination
Application Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa