Global Portable Medical Devices Market Size, Share, Growth Analysis, By Product(Diagnostic Imaging, CT), By Application(Gynecology, Cardiology)

Description

Global Portable Medical Devices Market size was valued at USD 26.75 billion in 2022 and is poised to grow from USD 29.77 billion in 2023 to USD 70.11 billion by 2031, growing at a CAGR of 11.3% in the forecast period (2024-2031).

In recent years, the global market for portable medical equipment has undergone significant expansion and transformation, incorporating compact and user-friendly medical devices aimed at both consumers and healthcare providers. This growth is driven by factors including the increasing demand for accessible and cost-effective healthcare solutions, rising rates of chronic diseases, growing healthcare awareness, and advancements in technology. Portable medical devices such as glucose meters, blood pressure monitors, pulse oximeters, wearable health trackers, and portable ultrasound machines exemplify this segment's offerings. The real-time monitoring capabilities of these devices empower patients to actively manage their health concerns while providing valuable diagnostic and treatment data to medical professionals. Particularly, the convenience of remote monitoring and telemedicine facilitated by portable medical devices has surged in popularity amidst the COVID-19 pandemic, obviating the need for in-person healthcare visits and subsequently easing the burden on healthcare systems. This trend is expected to endure post-pandemic, enhancing healthcare accessibility and efficiency. However, potential challenges such as regulatory compliance issues and data privacy concerns may impede the growth of the global portable medical devices market. Nevertheless, proactive measures undertaken by the industry can mitigate disruptions and ensure sustained market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Portable Medical Devices Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Portable Medical Devices Market Segmental Analysis

Market segmentation based on product includes Diagnostic Imaging, CT, X-ray, Ultrasound, Endoscope, Therapeutics, Insulin Pump, Nebulizer, Oxygen Concentrator, Image-guided Therapy Systems, Monitoring Devices, Cardiac Monitoring, Holter Monitors, Resting ECG System, Stress ECG Monitors, Event Monitoring Systems, ECG Management Systems, Neuromonitoring, EEG Machines, EMG Machines, ICP Monitors, MEG Machines, Cerebral Oximeters, Respiratory Monitoring, Capnographs, Spirometers, Peak Flow Meters, Fetal Monitoring, Neonatal Monitoring, Hemodynamic Monitoring Systems, Vital Sign Monitors, Smart Wearable Medical Devices. Based on Application, the market is divided into Gynecology, Cardiology, Gastrointestinal, Urology, Neurology, Respiratory, Orthopedics, Others. Regionally, the market is split into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Portable Medical Devices Market

The global market for portable medical devices is driven by several key factors. Technological advancements have played a pivotal role in the development of more sophisticated and portable medical gadgets, enhancing their performance, accuracy, and efficiency. Additionally, the prevalence of chronic diseases such as heart disease, diabetes, and respiratory conditions has heightened the demand for portable medical equipment, enabling continuous patient care and monitoring.

Restraints in the Portable Medical Devices Market

the market faces challenges, including regulatory hurdles that delay the release of new devices due to complex approval processes. Moreover, concerns regarding data privacy and security have emerged as portable medical devices become increasingly interconnected with smartphones and the internet, potentially hindering adoption.

Market Trends of the Portable Medical Devices Market

key market trends such as the growing adoption of remote patient monitoring (RPM) devices and the miniaturization of wearable devices are driving market growth. RPM devices, particularly popularized during the COVID-19 pandemic, enable healthcare professionals to remotely monitor patients' health and vital signs, thereby improving patient outcomes and reducing healthcare costs. Additionally, the development of wearable devices with sophisticated sensors and wireless communication capabilities allows for constant data gathering and real-time health tracking, empowering individuals to take a proactive approach to their well-being. These trends are expected to propel further growth in the portable medical devices market.

Product Code: SQMIG35A2544

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Portable Medical Devices Market by Product

Market Overview
Diagnostic Imaging
CT
X-ray
Ultrasound
Endoscope
Therapeutics
Insulin Pump
Nebulizer
Oxygen Concentrator
Image-guided Therapy Systems
Monitoring Devices
Cardiac Monitoring
Holter Monitors
Resting ECG System
Stress ECG Monitors
Event Monitoring Systems
ECG Management Systems
Neuromonitoring
EEG Machines
EMG Machines
ICP Monitors
MEG Machines
Cerebral Oximeters
Respiratory Monitoring
Capnographs
Spirometers
Peak Flow Meters
Fetal Monitoring
Neonatal Monitoring
Hemodynamic Monitoring Systems
Vital Sign Monitors
and Smart Wearable Medical Devices

Global Portable Medical Devices Market by Application

Market Overview
Gynecology
Cardiology
Gastrointestinal
Urology
Neurology
Respiratory
Orthopedics
and Others

Global Portable Medical Devices Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Medtronic, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Abbott Laboratories - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GE Healthcare - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fresenius SE & Co. KGaA - Germany
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stryker Corporation - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sysmex Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Natus Medical Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Johnson & Johnson - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nipro Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Becton, Dickinson and Company (BD) - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Boston Scientific Corporation - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sonova Holding AG - Switzerland
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Roche Diagnostics - Switzerland
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Masimo Corporation - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
3M Healthcare - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bio-Rad Laboratories, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Terumo Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zimmer Biomet Holdings, Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Smith & Nephew PLC - United Kingdom
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hologic Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Getinge Group - Sweden
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Omrion Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ResMed Inc. - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Philips Healthcare - Netherlands
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Siemens Healthineers - Germany
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Portable Medical Devices Market Size, Share, Growth Analysis, By Product(Diagnostic Imaging, CT), By Application(Gynecology, Cardiology) - Industry Forecast 2024-2031