Global Portable Medical and Healthcare Devices Market, By Device Type (Medical Monitoring Devices, Vital Signs Monitoring Devices, Foetal Monitoring Devices, Neuromonitoring Devices, Blood Glucose Monitoring Devices, Anaesthesia Monitoring Devices, Wearable Health and Fitness Devices, Smart Wrist-Wearables, Smart Garments, Chest Straps), End-User (Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Others) – Industry Trends and Forecast to 2030.
Portable Medical and Healthcare Devices Market Analysis and Size
According to Centers for Disease Control and Prevention (CDC) estimates that nearly 30.3 million Americans had diabetes. This is expected to rise further, boosting the adoption of technologies such as continuous glucose monitoring and insulin pumps in this region. Ongoing trends of accurate and real-time monitoring are vital factors escalating market growth, as is increasing awareness of the benefits of portable devices, such as increased mobility and an increase in the number of product approvals by regulatory authorities and subsequent product launches, which are among the major factors driving the portable medical and healthcare devices market. Data Bridge Market Research analyses that the portable medical and healthcare devices market which was USD 64.58 billion in 2022, is expected to reach USD 137.43 billion by 2030, at a CAGR of 9.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Portable Medical and Healthcare Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Device Type (Medical Monitoring Devices, Vital Signs Monitoring Devices, Foetal Monitoring Devices, Neuromonitoring Devices, Blood Glucose Monitoring Devices, Anaesthesia Monitoring Devices, Wearable Health and Fitness Devices, Smart Wrist-Wearables, Smart Garments, Chest Straps), End-User (Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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F. Hoffmann-La Roche Ltd (Switzerland), SAMSUNG (South Korea), Medtronic (Ireland), BD (U.S.), Terumo Corporation (Japan), NIPRO (Japan), QIAGEN (Germany), Medical s.r.l. (Italy), TERUMO BCT, INC. (U.S.), Fresenius Kabi AG (Germany), Grifols, S.A (Spain), Micsafe SARSTEDT AG & Co. KG (Germany), Retractable Technologies, Inc. (U.S.), FL MEDICAL s.r.l. Unipersonale (Italy) and General Electric (U.S.)
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Market Opportunities
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Market Definition
Portable medical and healthcare devices are used in the healthcare industry to simplify and improve patient care. They bring care from a hospital or doctor's office into the user's home, giving patients both convenience and mobility. These devices are distinguished by their low power consumption, dependability, and cost-effective sensor technologies. They aid in the early detection of a variety of diseases, including diabetes and cardiovascular disorders. The use of these portable devices reduces the number of doctor visits for users while effectively monitoring cardiac and respiratory wellness.
Portable Medical and Healthcare Devices Market Dynamics
Drivers
- Increase in the number of product approvals
The market is expected to be driven by an increase in product approvals by regulatory authorities and subsequent product launches. For instance, Caretaker Medical received CE certification for its Caretaker-4 wireless CNIBP Vital signs monitor in August 2018. In 2016, GE Healthcare introduced the Vivid iq, a new generation portable cardiovascular ultrasound system with high image quality and superior functionality. LifeWatch AG received Food and Drug Administration (FDA) clearance for its patch-based continuous vital monitoring systems in February 2016.
- Rising adoption of wearable devices
Rising adoption of wearable devices and other portable technologies is one of the key factors driving market growth. These devices track patients' physical activities in real-time. Furthermore, their use in remote patient monitoring reduces healthcare costs, which is expected to drive demand in the near future. Additionally, wearables aid in evaluating athletes' performance, physiological parameters, and body kinematics. As a result, rising adoption among professional athletes is expected to positively influence market growth.
Opportunities
- Technological advancements
One of the key factors driving market growth is ongoing technological advancement. Preference for portable and less intrusive medical technologies, among other things, has increased demand for oxygen concentrators, insulin pumps, and image-guided therapy systems. As a result, manufacturers concentrate on developing innovative technologies that are small, wireless, and easy to use. Sensor, embedded system, and electronics advancements, combined with advancements in medical devices, are expected to drive innovations in medical technologies, further boosting market growth.
Restraints/Challenges
- Stringent government regulations
Major obstacles for this market include high costs for upkeep and renovation, stringent government regulations, and problems with device design and compatibility. The market for portable medical and healthcare devices faces challenges from issues with connectivity in some rural areas and security concerns related to portable devices.
This portable medical and healthcare devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the portable medical and healthcare devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Portable Medical and Healthcare Devices Market Scope
The portable medical and healthcare devices market is segmented on the basis of device type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Device Type
- Medical Monitoring Devices
- Vital Signs Monitoring Devices
- Foetal Monitoring Devices
- Neuromonitoring Devices
- Blood Glucose Monitoring Devices
- Anaesthesia Monitoring Devices
- Wearable Health and Fitness Devices
- Smart Wrist-Wearables
- Smart Garments
- Chest Straps
End-User
- Hospitals
- Clinics
- Homecare Patient
- Ambulatory Care Centers
- Surgical Centers
- Others
Portable Medical and Healthcare Devices Market Regional Analysis/Insights
The portable medical and healthcare devices market is analyzed and market size insights and trends are provided by country, device type and end-user as referenced above.
The countries covered in the portable medical and healthcare devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the portable medical and healthcare devices market due to rising treatment rates, increased adoption of technologically advanced devices, and favourable government initiatives for early disease diagnosis in this region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the region's adoption of smart wearables, improved treatment rates, and improved healthcare infrastructure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The portable medical and healthcare devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for portable medical and healthcare devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the portable medical and healthcare devices market. The data is available for historic period 2011-2021.
Competitive Landscape and Portable Medical and Healthcare Devices Market Share Analysis
The portable medical and healthcare devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to portable medical and healthcare devices market.
Some of the major players operating in the portable medical and healthcare devices market are:
- F. Hoffmann-La Roche Ltd (Switzerland)
- SAMSUNG (South Korea)
- Medtronic (Ireland)
- BD (U.S.)
- Terumo Corporation (Japan)
- NIPRO (Japan)
- QIAGEN (Germany)
- Medical s.r.l. (Italy)
- TERUMO BCT, INC. (U.S.)
- Fresenius Kabi AG (Germany)
- Grifols, S.A (Spain)
- Micsafe SARSTEDT AG & Co. KG (Germany)
- Retractable Technologies, Inc. (U.S.)
- FL MEDICAL s.r.l. Unipersonale (Italy)
- General Electric (U.S.)
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