Portable Medical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is segmented by Product ( Diagnostic Imaging, Monitoring Devices and Others), End-User and Geography

Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.0 %

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Market Overview

The portable medical devices market will show a rapid growth due to the escalating demand for portable medical devices and wearable electronics, an increase in technological advancements and the rise in the geriatric population.

The pace of population aging around the world is increasing dramatically across the globe. According to the United Nations Report, the global population aged 60 years or over has been numbered 962 million in 2017, more than twice as large as in 1980 when there were 382 million older persons worldwide. The number of older persons is expected to double again by 2050 when it is projected to reach nearly 2.1 billion. Globally, the number of persons aged 80 years or over is projected to increase more than threefold between 2017 and 2050, rising from 137 million to 425 million. Therefore, the increasing use of portable medical devices in the healthcare industry is beneficial for accurate real-time monitoring, diagnosis and tailored treatment of conditions in the older population.

The industry is also expected to witness strong growth mainly due to the rising incidents of chronic diseases, increasing adoption of medical imaging, monitoring, and implantable devices; rising expenditure on healthcare across the world and a growing elderly population.

 

Scope of the Report

As per the scope of the report, in portable medical devices, we are covering the diagnostics imaging and monitoring devices only. These portable medical devices are used rapidly as advancements in wireless technologies and have increased patient’s mobility at hospitals and homes. Portable medical devices are electronic equipment used for monitoring, operating and managing medical conditions. These devices are becoming more and more portable, light in weight and compact due to the advancements in microprocessor technology.

By Products
Diagnostic Imaging
Monitoring Devices
Cardiac Monitoring
Neuro Monitoring
Respiratory Monitoring
Others
Others
By End-User
Hospitals
Physicians offices
Homecare Settings
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Homecare Settings is Expected to Grow Fastest During the Forecast Period

Homecare Settings is expected to grow the fastest due to the recent trend of miniaturization. Homecare products have risen in popularity due to their inexpensiveness and safety. The increasing hospital costs and cost-effective nature of homecare products have made homecare a desirable option for many sections of the population. The market for portable medical devices is rising with the boom in-home healthcare that includes applications such as post-operative care, chronic disease management, fitness, and others.

Moreover, gaining popularity of homecare patient settings, high disposable income, and advanced healthcare infrastructure further has contributed to the growth of the market in this region.

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North America is Found Leading the Portable Medical Devices Market

North America is estimated to hold the largest market value share in portable medical devices market. The U.S. is the leading portable medical device market by country in North America. Significant investments in research and development along with the increasing geriatric population are supporting the growth of portable medical devices market in North America. Additionally, favorable government initiatives and improved reimbursement policies for advanced medical devices will accelerate the growth of portable medical devices market.

Europe is anticipated to be followed by North America and is expected to show significant growth in the near future. This growth is primarily driven by high per capita income in this region and the increasing healthcare infrastructure.

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Competitive Landscape

There has been a presence of a considerable number of companies that are significantly contributing to the market growth. Product innovation and ongoing R&D activities to develop advanced technologies have helped in boosting the growth of the market. Various strategies and collaborations are being adopted by these key players to maintain their market share.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Escalating Demand for Portable Medical Devices and Wearable Electronics

      2. 4.2.2 Increase in Technological Advancements

      3. 4.2.3 Rise in Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 Security Concerns

      2. 4.3.2 High Cost of Medical Portable Devices

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Products

      1. 5.1.1 Diagnostic Imaging

      2. 5.1.2 Monitoring Devices

        1. 5.1.2.1 Cardiac Monitoring

        2. 5.1.2.2 Neuro Monitoring

        3. 5.1.2.3 Respiratory Monitoring

        4. 5.1.2.4 Others

      3. 5.1.3 Others

    2. 5.2 By End-User

      1. 5.2.1 Hospitals

      2. 5.2.2 Physicians offices

      3. 5.2.3 Homecare Settings

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 CareFusion Corporation

      2. 6.1.2 GE Healthcare

      3. 6.1.3 Roche Diagnostics

      4. 6.1.4 Abbott Laboratories

      5. 6.1.5 Maxim Integrated

      6. 6.1.6 Renesas Electronics Corporation

      7. 6.1.7 Philips Healthcare

      8. 6.1.8 Omron Healthcare

      9. 6.1.9 Medtronic, Inc.

      10. 6.1.10 Siemens Healthcare

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Portable Medical Devices Market market is studied from 2018 - 2026.

The Portable Medical Devices Market is growing at a CAGR of 7.0% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Philips Healthcare, GE Healthcare, Roche Diagnostics, Abbott Laboratories, Omron Healthcare are the major companies operating in Portable Medical Devices Market.

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