Wireless Portable Medical Devices Market Analysis, Opportunities, Size, Technology, Trends, Revenue, Growth and Demand by 2023

Wireless portable medical devices are the medical devices that are not restricted to hospitals and can be used in schools, offices, homes and aircrafts to ensure earlier diagnosis and better healthcare monitoring. Rising urbanization and increasing demand of the devices from healthcare industry are the key factors for the growth of wireless portable medical devices. Wireless portable medical devices are widely used in healthcare monitoring application, home diagnosis, medical therapeutics and for fitness monitoring.

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Increasing cellular connectivity, coupled with wireless communication advancement is supporting the growth of wireless portable medical devices market. Due to rising income levels and increasing chronic disorders, such as respiratory, diabetes and cardiovascular diseases, the market for wireless portable medical device is expected to gain momentum during the forecast period. Increasing geriatric population is another important driver for wireless portable medical devices market, as the elderly people are more prone to illness and often seek hospitalization. With increasing government support to medical establishments in rural areas, the adoption of advanced medical devices has surged.

The portable medical devices market can be segmented on the basis of application, technology, and equipment type. Based on various applications, the global portable medical devices market can be categorized into diagnosis, monitoring, medical therapeutics, fitness and wellness and others. Based on technology, wireless portable medical devices can be categorized into Wi-Fi, ZigBee, BT/BLE, ANT+ and others. Based on type of equipment, wireless portable medical devices can be segmented as insulin pumps, pulse oximeter, medical imaging, digital hearing aid, hemodynamic monitors and others.

North America is the largest market of wireless portable medical devices market, owing to large number of patients suffering from various chronic diseases in the region. Europe is also one of the major wireless portable medical devices market. The large populations of baby boomers coupled with the patient’s convenience, such as home based health monitoring in the region, are some of the most dominant drivers of the market. The wireless portable medical devices market is expected to grow at a fast pace in developing countries, such as India and China, of Asia-Pacific. The healthcare sector in these countries has grown multifold in the past few years and the government investment is further expected to boost the growth of sector. This in turn, is also expected to create opportunities for the wireless portable medical devices market during the forecast period.

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Some of the major players in global wireless portable medical device market include, Renesas Electronics Corporation Texas Instruments, Omron Healthcare, Renesas Electronics Corporation, GE Healthcare, STMicroelectronics N.V., Maxim Integrated, ON Semiconductor Corporation, Medtronic, Inc., Freescale Semiconductor Inc. and Analog Devices Inc.

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