Global Healthcare Peripheral Devices Market, By Product (Stethoscopes, Otoscopes, Dermascopes, Ophthalmoscopes, Sinuscope, Laparscope, ECG, Ultrasound), Application (Telehealth, Telemedicine), Distribution Channel (Offline sales, Online sales), End-User (Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the past few years, the market has propelled forward rapidly due to the various emerging trends and technologies and advancements in healthcare devices which have a direct impact on the dynamics of the market and favor the expansion of the market. The continuous advancements by the market players in the market are projected to aid healthcare peripheral devices to gain traction within the forecast period.
- Data Bridge Market Research analyses that the healthcare peripheral devices market is expected to grow at a CAGR of 16.9% during the forecast period of 2022 to 2029. The "online sales" account for the largest distribution channel segment in the healthcare peripheral devices market within the forecasted period.
Market Definition
The peripheral devices are basically the hardware components that are attached to a computer and are controlled by the computer system, easily removed and plugged into a computer system. They are used to put information into and get information out of a computer.
However, the healthcare peripheral devices are the devices that remotely collect and transmit high-definition audio, video, images, and other health and biometric data of the patient by monitoring and keeping track of the vitals, blood glucose levels, and others.
Healthcare Peripheral Devices Market Dynamics
Drivers
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Growing Healthcare Infrastructure
The increase in partnership between government and profit organizations to develop technical, financial and operational aspects of the healthcare industry is the most significant factor driving the growth for this market. Growing digital impact across the globe and rising disposable income are also expected to accelerate the market's overall growth.
The growing aging population, increase in the rate of hospital admissions and rising prevalence of chronic diseases are projected to cushion the growth of the market. Moreover, the rising awareness among the consumers and the surging geriatric population also cushion the market's growth within the forecasted period.
Opportunities
Furthermore, the market players are offering new and innovative devices for healthcare peripheral devices products, which extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the rise in technological advancement in the healthcare sector, including the emergence of digital innovation, will further expand the healthcare peripheral devices market's growth rate.
Restraints/Challenges
On the other hand, the change in the end-users demand is expected to obstruct market growth. Also, stringent government policies regarding medical practices are projected to challenge the healthcare peripheral devices market in the forecast period of 2022-2029.
- This healthcare peripheral devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare peripheral devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Healthcare Peripheral Devices Market
The healthcare sector has been largely impacted by the COVID-19. The strict guidelines and regulations regarding social distancing and movement restrictions has negatively affected the healthcare peripheral devices market growth due to the postponement of various operational procedures and surgeries. However, the COVID-19 pandemic has accelerated the investments in the healthcare sector for innovative solutions that will accelerate the market's growth. Moreover, the increased sales of the devices through online platforms across the globe will positively impact the healthcare peripheral devices market.
Recent Development
- In December 2020, Koninklijke Philips N.V. announced the acquisition of BioTelemetry, a cardiac diagnostics and monitoring company based in the United States to expand its remote care product offerings.
- In March 2020, Hitachi Medical Systems Europe introduced the ARIETTA 750, a new model from the ARIETTA diagnostic ultrasound platform series.
Global Healthcare Peripheral Devices Market Scope
The healthcare peripheral devices market is segmented on the basis of product, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Stethoscopes
- Otoscopes
- Dermascopes
- Ophthalmoscopes
- Sinuscope
- Laparscope
- ECG
- Ultrasound
On the basis of product, the healthcare peripheral devices market is segmented into stethoscopes, otoscopes, dermascopes, ophthalmoscopes, sinuscope, laparscope, ECG and ultrasound.
Application
- Telehealth
- Telemedicine
On the basis of application, the healthcare peripheral devices market is segmented into telehealth and telemedicine.
Distribution Channel
- Offline sales
- Online sales
On the basis of level of distribution channel, the healthcare peripheral devices market is segmented into offline sales and online sales. The online sales is projected to dominate the distribution channel due to the social distancing restrictions across the globe.
End-User
- Hospitals
- Clinics
- Homecare Patient
- Ambulatory Care Centers
- Surgical Centers
- Others
On the basis of level of end-user, the healthcare peripheral devices market is segmented into hospitals, clinics, homecare patient, ambulatory care centers, surgical centers and others.
Healthcare Peripheral Devices Market Regional Analysis/Insights
The healthcare peripheral devices market is analyzed and market size insights and trends are provided by country, product, application, distribution channel and end-user as referenced above.
The countries covered in the healthcare peripheral devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare peripheral devices market because of the increased adoption of technologically advanced devices, rising treatment rates, and supportive government initiatives for early diagnosis of diseases within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising research centers associated with the healthcare devices, increase in medical approvals, and the improving healthcare infrastructure in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The healthcare peripheral devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare peripheral devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare peripheral devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Healthcare Peripheral Devices Market Share Analysis
The healthcare peripheral devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare peripheral devices market.
Some of the major players operating in the healthcare peripheral devices market are F. Hoffmann-La Roche Ltd, Medtronic, BD, Teleflex Incorporated, Nipro Europe Group Companies, Siemens, Cardinal Health, Retractable Technologies, Inc., Johnson & Johnson Private Limited, FL MEDICAL s.r.l, GENERAL ELECTRIC, Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Medical Corporation., Cook., and Smiths Medical, among others.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated 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 drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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