Overview and Scope
Portable medical devices refer to any device intended to be used alone or in combination for a medical purpose. Portable medical devices include any instrument, equipment, implement, machine, appliance, implant, reagent for in vitro usage, software, material, or other similar or related items that are easy to carry.
Sizing and Forecast
The portable medical devices market size has grown rapidly in recent years. It will grow from $50.59 billion in 2023 to $56.6 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to miniaturization of electronics, increasing chronic diseases, aging population, telehealth and remote monitoring, point-of-care testing.
The portable medical devices market size is expected to see rapid growth in the next few years. It will grow to $85.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to global health pandemics, digital health integration, increased home healthcare, healthcare cost containment, wearable health tech adoption. Major trends in the forecast period include advancements in battery technology, ai and machine learning integration, smart inhalers and drug delivery devices, integration of augmented reality, blockchain technology in healthcare.
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Segmentation & Regional Insights
The portable medical devices market covered in this report is segmented –
1) By Product: Therapeutics, Smart Wearable Medical Devices, Diagnostic Imaging, Monitoring Devices, Neuromonitoring, Cardiac Monitoring, Respiratory Monitoring, Neonatal Monitoring, Fetal Monitoring, Other Products
2) By Application: Cardiology, Orthopedics, Gynecology, Urology, Gastrointestinal, Neurology, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Other End Users
North America was the largest region in the portable medical devices market in 2023. The regions covered in the portable medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing prevalence of chronic diseases is expected to propel the growth of the portable medical devices market going forward. Chronic diseases are described generically as problems that persist a year or longer, need continuing medical treatment, and interfere with everyday activities. Portable medical devices assist patients suffering from chronic diseases track their health-related conditions, such as physiological conditions in post-acute, rehabilitation, and chronic cases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the growing prevalence of chronic diseases drives the portable medical devices market.
Key Industry Players
Major companies operating in the portable medical devices market report are Cardinal Health Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Panasonic Holdings Corporation, Abbott Laboratories, Medtronic PLC, Siemens Healthcare Private Limited, Fujifilm Holdings Corporation, Becton, Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, Baxter International Inc., Infineon Technologies AG, Boston Scientific Corporation, Biotricity Inc., Grifols S.A, Terumo Corporation, Fresenius Kabi AG, GE HealthCare Technologies Inc., Hologic Inc., Dexcom Inc., QIAGEN GmbH, Nipro Corporation, Omnivision Technologies Inc., Shockwave Medical Inc., SARSTEDT GROUP, Morepen Laboratories Ltd., Omron Healthcare Inc., Natus Medical Incorporated, Samsung Healthcare, Pulsatom Health Care Pvt. Ltd.
The portable medical devices market report table of contents includes:
1. Executive Summary
2. Portable Medical Devices Market Characteristics
3. Portable Medical Devices Market Trends And Strategies
4. Portable Medical Devices Market – Macro Economic Scenario
5. Global Portable Medical Devices Market Size and Growth
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31. Portable Medical Devices Market Other Major And Innovative Companies
32. Global Portable Medical Devices Market Competitive Benchmarking
33. Global Portable Medical Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Portable Medical Devices Market
35. Portable Medical Devices Market Future Outlook and Potential Analysis
36.Appendix
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