According to the latest report by IMARC Group, titled “Global Portable Medical and Healthcare Devices Market Report: 2021-2026”, the market is currently witnessing strong growth. The Global Portable Medical and Healthcare Devices market to grow at a CAGR of 19.3% during the forecast period (2021-2026). Portable medical and healthcare devices are utilized in the healthcare industry to simplify and improve patient care. They extend care from a hospital or a doctor’s office into the user’s home, thus providing convenience as well as mobility to patients. These devices are generally characterized by low power consumption, reliability and cost-efficient sensor technologies. They assist in the early detection of numerous diseases, including diabetes and cardiovascular disorders (CVDs). The utilization of these portable devices reduces the number of doctor visits for the users while efficiently monitoring cardiac and respiratory wellness.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Portable Medical and Healthcare Devices Market Trends:
The rising prevalence of lifestyle diseases represents a key factor driving the demand for portable medical and healthcare devices. Catalyzed by unhealthy diets and a lack of physical activities, the prevalence of diabetes, obesity and cardiovascular disorders has increased on the global level. A significant rise in the geriatric population has also led to an increasing demand for portable medical devices. Apart from this, enhanced research and development (R&D) and technological advancements are continually influencing the market growth. For instance, wearable activity trackers are gaining immense popularity among consumers, primarily owing to their convenience of use. Health-conscious users are widely utilizing smart fitness wearable devices to monitor their heart rate and improve their overall health, which is further creating a positive outlook for the market. Other factors impelling the market growth include tailored treatments of various diseases and the rising trend of miniaturization of technology. Looking forward, the global portable medical and healthcare devices market is expected to continue its strong growth during the next five years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Philips Healthcare
- GE Healthcare
- Abbott Laboratories
- Fitbit Inc.
Portable Medical and Healthcare Devices Market Segmentation:
Our report has categorized the market based on region, device type.
Segmentation 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
Key Aspects Analysed for each Device:
- Historical, current and future market trends
- Competitive landscape
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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