Global Portable Medical Electronic Devices Market, By End Users (Hospitals, Nursing homes, Physician offices, Homecare patient, Others). Equipment (Respiratory Products, Heart monitors, Pulse Oximeter, Blood Pressure monitors, Medical Imaging, Others) Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Portable Medical Electronic Devices Market
The Global Portable Medical Electronic Devices Market is expected to reach USD 31.49 billion by 2025, from USD 12.53 billion in 2017 growing at a CAGR of 12.2% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Portable Medical Electronic Devices Market
Portable medical electronic devices are the electronic equipment used in healthcare industry for monitoring, operating managing medical conditions. The health care industry is continuously moving towards the technology advancement in the form of medical wearables and portable devices. Use of portable medical devices in healthcare industry is really beneficial for accurate real-time monitoring, diagnosis and tailored treatment of conditions, such as some types of diabetes and cardiovascular disease. Like the use of wearable bracelets and watches allows us to see how many steps we take each day, monitor exercise, food, weight and sleep. These portable medical devices measure the blood pressure, body temperature, measure blood glucose levels, improve hearing, and remind us to take medication and more. In addition to self-monitoring, this technology is used in telemedicine, where data gathered can be sent directly to healthcare professionals in hospitals or clinics and patients can be treated at a distance, via email, webcam or phone. According to the Centers for Medicare & Medicaid Services, 8.3 million people used portable medical devices in 2004 while 1.64 million people used portable medical devices in 2008 according to National Association for Home Care and Hospice.
Market Segmentation: Global Portable Medical Electronic Devices Market
- The global portable medical electronic devices market is segmented based on end users, equipment, geographical segments.
- Based on end users, the market is segmented into
- On the basis of equipment market is classified into respiratory products, heart monitors, pulse oximeter, blood pressure monitors, medical imaging, others.
- Based on geography, the portable medical electronic market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers and Restraints:
- Increasing demand for diagnostics in remote areas of the world where a significant population continues to reside.
- Increasing number of emergency medical services such as ambulances and helicopters that are required to be well equipped, military medicine for on-field applications and aging population.
- Increase in technological advancement.
- The growth of global market for portable medical electronic devices is restrain due to security concerns in the device, and connectivity problems.
Key Developments in the Market:
- In 2017, US FDA approved Abilify MyCite, a new combination of the Abilify drug that treats schizophrenia, bipolar disorder, and depression with a sensor. This is the first digital pill to be approved by the US FDA.
Competitive Analysis: Global Portable Medical Electronic Devices Market
The global portable medical electronic devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global portable medical electronic devices market for global, Europe, North America, Asia Pacific and South America.
In 2018, GF Health Products, Inc. (U.S.) announce the acquisition of Intensa, Inc.(U.S.) in the furniture capital of the world .
Major Market Competitors/Players: Global Portable Medical Electronic Devices Market
Some of the major players operating in the global portable medical electronic devices market are Abbott Laboratories, CareFusion Corporation, Covidien, GE Healthcare, Medtronic Inc., Panasonic Corp., Philips Healthcare, Roche Diagnostics, Siemens Healthcare, Sonova Holding AG, B. Braun Melsungen, Bayer Healthcare, Contec Medical, GN Resound, Mindray, Nipro Diagnostics, ArjoHuntleigh, Invacare Corporation, Sunrise Medical, Stryker Corporation, Hill Rom Inc. Drive Medical, Carex Health Brands, GF Health Products Inc, Dickinson and Company, Smith & Nephew plc.
Research Methodology: Global Portable Medical Electronic Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others
Reasons to Purchase this Report
- Current and future of global portable medical electronic devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report
- The report includes the complete segmentation displayed above across all above mentioned countries
- All medical device covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)