The portable medical devices market is mainly driven by the increasing adoption of portable devices for treatment, diagnosis and surveillance in health centers. It is expected that the increasing use of small, lightweight, portable devices, such as spirometers that facilitate the diagnosis of respiratory diseases, will have a significant influence on the global market over the next few years.
Portable Medical Devices Market Size and Growth Rate:
Portable Medical Devices Market was estimated at $40.2 billion in 2017 and is expected to grow at a CAGR of 8.3% during the forecast period 2017 to 2021.
Portable Medical Devices Market Growth Drivers and Restraints:
Continuing technological advances are also a key factor in market growth. The preference for portable and less intrusive medical technologies has increased the demand for oxygen concentrators, insulin pumps and image-guided therapy systems among other medical care devices.
Manufacturers focus on developing innovative technologies that are compact, wireless and easy to use. It is expected that technological advances in sensors, integrated systems and electronics, combined with developments in medical devices, will lead to opportunities in medical technologies.
Portable Medical Devices Market Segmentation:
The market for portable medical devices is segmented according to applications, such as diagnostics, surveillance, medical treatment, fitness and wellness, etc. By application, surveillance should cover the highest market share in the portable device market.
On the end-user basis, portable medical devices are segmented into hospitals, clinics, home care, ambulatory care centers, surgical centers and others. By end-user, it is expected that the hospital segment will become the dominant segment.
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Geographical Presence of Portable Medical Devices Market:
Europe should follow North America. In addition, the Asia-Pacific region is expected to experience the fastest growth in the portable medical device market over the forecast period.
Key Players of Portable Medical Devices Market:
Some of the leading market players of Portable Medical Devices Market are GE Healthcare, Covidien Plc., CareFusion Corporation, Philips Healthcare, Texas Instruments, Natus Medical, Medtronic, Roche Diagnostics, Samsung, Qualcomm and others.
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