Self-Care Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Self-Care Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global self-care medical devices market size reached US$ 22.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 34.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.

Self-care medical devices are used for monitoring and maintaining vital parameters of patients such as blood sugar level, blood pressure and heart rate. These devices can be used by the patients themselves and do not require the presence of a medical professional. The electrical variants of self-care medical devices display physiological information at regular intervals using sensors and other input devices that are attached to the patient. They provide cost-effective, periodical check-ups to the patients and help with the timely diagnosis of an ailment.



Owing to the growing prevalence of chronic and lifestyle diseases, such as cardiovascular diseases (CVD) and diabetes, along with increasing health awareness among consumers, there has been a rise in the demand for devices that can continuously track the physical well-being of patients. Furthermore, consumer awareness regarding the advantages of self-care medical devices and the benefits of keeping a regular check on health irregularities in increasing worldwide. As these devices help in significantly reducing the chances of contracting any severe disease, there has been significant growth in their sales. Additionally, manufacturers are taking initiatives to produce devices that are portable and can be used by patients of all age groups. Advancements in the wearable technology, coupled with the incorporation of sensors to gauge physiological changes more accurately, are also augmenting the products demand. Increasing geriatric population and rising disposable incomes, along with salient characteristics of these devices such as maintenance of privacy, quick access and timely diagnostic reports, are some of the other factors catalyzing market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global self-care medical devices market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on device type, end-user and distribution channel.

Breakup by Device Type:

Self-Monitoring of Blood Glucose (SMBG)
PD
Sleep Apnea Devices
Insulin Pumps
Body Temperature Monitors
Inhalers
Pedometers
Blood Pressure Monitors
Nebulizers
Male External Catheters
Holter Monitors
Others

Breakup by End-User:

Geriatric
Pediatrics
Adults
Pregnant Women
Others

Breakup by Distribution Channel:

Pharmacies
Online Stores
Supermarkets and Hypermarkets
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Johnson & Johnson, Medtronic, Abbott Laboratories, Bayer HealthCare, Koninklijke Philips, General Electric Company, F. Hoffmann-La Roche AG, ResMed, Omron Healthcare, Martifarm, OraSure Technologies, Baxter and B. Braun Melsungen, etc.

Key Questions Answered in This Report

1. How big is the global self-care medical devices market?
2. What is the expected growth rate of the global self-care medical devices market during 2023-2028?
3. What are the key factors driving the global self-care medical devices market?
4. What has been the impact of COVID-19 on the global self-care medical devices market?
5. What is the breakup of the global self-care medical devices market based on the device type?
6. What are the key regions in the global self-care medical devices market?
7. Who are the key players/companies in the global self-care medical devices market?