Global Portable Medical Electronic Devices Market, By End Users (Hospitals, Nursing Homes, Physician offices, Homecare patient and Others), Equipment (Respiratory Products, Heart monitors, Pulse Oximeter, Blood Pressure monitors, Medical Imaging and Others) – Industry Trends and Forecast to 2030.
Portable Medical Electronic Devices Market Analysis and Size
The portable medical devices are widely being deployed as advancements in wireless technologies. These devices have enhanced patient’s mobility at hospitals and homes. The increase in technological advancements is escalating the growth of global portable medical electronic devices market.
Data Bridge Market Research analyses that the global portable medical electronic devices market, which was USD 74,340.00 million in 2022, is expected to reach 2,79,433.59 million by 2030, and is expected to undergo a CAGR of 18.0% during the forecast period 2023-2030. This indicates that the “respiratory products” segment dominates the equipment segment of the global portable medical electronic devices market owing to the advancements in technology. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Portable Medical Electronic Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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End Users (Hospitals, Nursing homes, Physician offices, Homecare patient and Others), Equipment (Respiratory Products, Heart monitors, Pulse Oximeter, Blood Pressure monitors, Medical Imaging and Others)
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Countries Covered
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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.
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Market Players Covered
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Medtronic (Ireland), Koninklijke Philips N.V. (Netherlands), GENERAL ELECTRONIC COMPANY (U.S.), Bayer AG (Germany), Stryker (U.S.), BD (U.S.), Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Panasonic Corporation (Japan), Siemens Healthcare GmbH (Germany), B. Braun Melsungen AG (Germany), Sonova. (Switzerland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), CONTEC MEDICAL SYSTEMS CO., LTD (China), Nipro Medical Corporation (U.S.), GN Hearing A/S, Arjo. (Denmark), Hill-Rom Services, Inc. (Illinois), Invacare Corporation. (U.S.), and GF HEALTH PRODUCTS, INC. (U.S.)
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Market Opportunities
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Market Definition
Portable medical devices refer to the electronic equipment that are widely utilized for operating, managing and monitoring medical conditions. These devices transforming more and more portable, compact and light in weight owing to the advancements in microprocessor technology.
Global Portable Medical Electronic Devices Market Dynamics
Drivers
- Technological Advancements
The continuous development of advanced technologies, such as miniaturization, wireless connectivity, and wearable sensors, has fueled the growth of portable medical electronic devices. These advancements have enabled the creation of smaller, more portable devices that can monitor and diagnose various health conditions.
- Increasing Prevalence of Chronic Diseases
The rising prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and respiratory disorders, has created a growing demand for portable medical devices that can help individuals monitor their health conditions on a regular basis. Portable devices offer convenience and allow for continuous monitoring, enabling early detection and timely intervention.
- Aging Population
The global aging population is driving the demand for portable medical electronic devices. As the elderly population increases, there is a greater need for monitoring and managing age-related health conditions. Portable devices provide a convenient and non-invasive way to monitor vital signs, track medication adherence, and manage chronic diseases in older adults.
Opportunities
- Demand for Home Healthcare Solutions
There is a growing preference for home healthcare solutions due to factors such as convenience, cost-effectiveness, and the desire to maintain independence. Portable medical electronic devices enable individuals to monitor their health conditions from the comfort of their homes, reducing the need for frequent hospital visits and improving overall patient experience.
- Increasing Focus on Preventive Healthcare
There is a shift towards preventive healthcare, with individuals becoming more proactive in monitoring their health and taking preventive measures. Portable medical electronic devices, such as fitness trackers and smartwatches, enable individuals to track their physical activity, sleep patterns, and vital signs, promoting a healthier lifestyle and early detection of potential health issues.
Restraints/Challenges
- Limited Reimbursement
In some healthcare systems, reimbursement for portable medical electronic devices may be limited or not covered at all. This can create financial barriers for patients and healthcare providers, hindering the widespread adoption and use of these devices.
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Data Security and Privacy Concerns
Portable medical electronic devices collect and transmit sensitive health data. Concerns about data security and privacy can impact patient and healthcare provider confidence in using these devices. Ensuring secure data transmission and adherence to privacy regulations is crucial to address these concerns.
The global portable medical electronic 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 global portable medical electronic 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.
Recent Developments
- In June 2021, Mohali-based Walnut Medical developed 5L and 10L portable medical-grade oxygen concentrators based on pressure swing adsorption (PSA) technology in India with an oxygen purity of above 96% at a pressure of 55-75 kpa. This offered a unique opportunity during pandemic
- In August 2022, SmartCardia launched their 7L patch, a 7-lead cardiac monitoring patch. With the use of artificial intelligence (AI), this cutting-edge patch monitor integrates wearable medical technology with remote patient monitoring to deliver tailored and predicted patient insights
The global portable medical electronic devices market is segmented on the basis of end users and equipment. The growth amongst these segments will help you analyse 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.
End Users
- Hospitals
- Nursing Homes
- Physician Offices
- Homecare Patient
- Others
Equipment
- Respiratory Products
- Heart Monitors
- Pulse Oximeter
- Blood Pressure Monitors
- Medical Imaging
- Others
Global Portable Medical Electronic Devices Market Regional Analysis/Insights
The global portable medical electronic devices market is analysed and market size insights and trends are provided by country, end users and equipment, as referenced above.
The countries covered in the global portable medical electronic 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 global portable medical electronic devices market because of the strong base of healthcare facilities, strong presence of major players in the market, rising demand of the Portable Medical Electronic Devices products and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare 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 global portable medical electronic 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 Portable Medical Electronic Devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Portable Medical Electronic Devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Global Portable Medical Electronic Devices Market Share Analysis
The global portable medical electronic 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 global portable medical electronic devices market.
Some of the major players operating in the global portable medical electronic devices market are:
- Medtronic (Ireland)
- Koninklijke Philips N.V. (Netherlands)
- GENERAL ELECTRONIC COMPANY (U.S.)
- Bayer AG (Germany)
- Stryker (U.S.)
- BD (US
- Abbott (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Panasonic Corporation (Japan)
- Siemens Healthcare GmbH (Germany)
- B. Braun Melsungen AG (Germany)
- Sonova. (Switzerland)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- CONTEC MEDICAL SYSTEMS CO. LTD (China)
- Nipro Medical Corporation (U.S.)
- GN Hearing A/S, Arjo. (Denmark)
- Hill-Rom Services, Inc. (Illinois)
- Invacare Corporation. (U.S.)
- GF HEALTH PRODUCTS, INC. (U.S.)
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