Global Portable Medical and Healthcare Devices Market Report: 2023-2028

Global Portable Medical and Healthcare Devices Market Report: 2023-2028

Market Overview:

The global portable medical and healthcare devices market size reached US$ 85.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 218.2 Billion by 2028, exhibiting a growth rate (CAGR) of 16.9% during 2023-2028. The growing occurrence of various chronic diseases, rising advancements in improving treatment methods and diagnostic processes, and increasing geriatric population represent some of the key factors driving the market. 

Portable medical and healthcare devices refer to various electronic equipment that comprises automated insulin pumps, blood pressure monitors, glucose monitoring systems, ultrasound machines, digital thermometers, and electrocardiogram (ECG) machines. These devices are essential for tracking and monitoring different health parameters of patients. They also include otoscopes, which shine a beam of light to help visualize and examine the condition of the ear canal and eardrum. They provide continuous non-invasive monitoring of various vital parameters through connectivity. They also enable healthcare providers to acquire real-time updates on the condition of patients under critical care. They offer accurate and instant diagnoses of various health complications, such as fever, cold, diabetes, high or low blood pressure, and infections caused by various pathogens. They improve patient throughput and allow healthcare providers to attend to a large number of patients without impacting their efficiency. Furthermore, portable medical and healthcare devices eliminate the requirement of transporting critical care and vulnerable patients from one facility to another for imaging purposes.

Portable Medical and Healthcare Devices Market Trends:

At present, the increasing demand for portable medical and healthcare devices, as they are lightweight, compact, and cost-efficient, represents one of the primary factors influencing the market positively. Besides this, the rising utilization of portable ultrasounds equipped with advanced imaging capabilities for high-contrast resolution and image optimization and for taking 2D, 3D, and 4D imaging is propelling the growth of the market. In addition, the growing occurrence of various chronic diseases among the masses, along with the increasing geriatric population around the world, is offering a favorable market outlook. Apart from this, governing agencies of various countries are investing in the healthcare sector to increase the number of hospitals, nursing homes, and clinics and provide quality healthcare services to individuals. Additionally, the rising advancements in improving treatment methods and diagnostic processes for various life-threatening conditions are contributing to the growth of the market. Moreover, the increasing adoption of various wireless monitoring devices and wearable devices by doctors, surgeons, and nurses is supporting the market growth. Furthermore, the rising utilization of portable medical and healthcare devices among patients, as they offer user-friendly features and a sophisticated user interface (UI), is bolstering the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global portable medical and healthcare devices market report, along with forecasts at the global and country level from 2023-2028. Our report has categorized the market based on type.

Type Insights:

Medical Monitoring Devices
Vital Signs Monitoring Devices
Cardiac Monitoring Devices
Respiratory Monitoring Devices
Wearable BP Monitors
Pulse Oximetry 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

The report has provided a detailed breakup and analysis of the portable medical and healthcare devices market based on the type. This includes medical monitoring devices (vital signs monitoring devices (cardiac monitoring devices, respiratory monitoring devices, wearable BP monitors, and pulse oximetry devices), foetal monitoring devices, neuromonitoring devices, blood glucose monitoring devices, and anaesthesia monitoring devices) and wearable health and fitness devices (smart wrist-wearables, smart garments, and chest straps). According to the report, cardiac monitoring devices represented the largest segment.

Regional Insights:

United States
Germany
France
Italy
United Kingdom
China
Japan
Brazil

The report has also provided a comprehensive analysis of all the major regional markets, which include United States, Germany, France, Italy, The United Kingdom, China, Japan, and Brazil. According to the report, United States was the largest market for portable medical and healthcare devices. Some of the factors driving the United States portable medical and healthcare devices market included the increasing geriatric population, rising technological advancements in treatment procedures, high healthcare expenditure, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global portable medical and healthcare devices market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered Philips Healthcare, GE Healthcare, Abbott Laboratories, Fitbit Inc., Garmin, Medtronic, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global portable medical and healthcare devices market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global portable medical and healthcare devices market?
What is the impact of each driver, restraint, and opportunity on the global portable medical and healthcare devices market?
Which countries represent the most attractive portable medical and healthcare devices market?
What is the breakup of the market based on the type?
Which is the most attractive type in the portable medical and healthcare devices market?
What is the competitive structure of the global portable medical and healthcare devices market?
Who are the key players/companies in the global portable medical and healthcare devices market?