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Sustainable Growth Driven by Chronic Diseases & Technological Advancements in Global Portable Medical Devices Market
Portable Medical Devices Market
Projected to Grow at a CAGR of 11.8%, the Global Portable Medical Devices Market is Anticipated to Reach $95.56 Billion by 2029
What Is The Projected Market Size Of The Global Portable Medical Devices Market And Its Growth Rate?
•The global portable medical devices market has demonstrated a robust growth pattern in recent years. It was valued at $55.17 billion in 2024 and is expected to reach $61.25 billion in 2025, growing at a compound annual growth rate (CAGR) of 11.0%.
•The historic growth pattern can be attributed to factors such as miniaturization of electronics, increasing chronic diseases, aging population, telehealth and remote monitoring, point-of-care testing.
•The market is forecasted to continue its growth trajectory, reaching $95.56 billion in 2029 at a compound annual growth rate (CAGR) of 11.8%. Future growth is driven by factors such as global health pandemics, digital health integration, increased home healthcare, healthcare cost containment, and wearable health tech adoption.
What Is Driving The Growth In The Portable Medical Devices Market?
The rapid increase in chronic diseases is anticipated to drive the growth of the portable medical devices market. Chronic diseases, which persist for a year or longer, require ongoing medical attention and tend to interfere with daily activities. Portable medical devices aid people suffering from these diseases by monitoring their health conditions, particularly in post-acute, rehabilitation, and chronic cases. For instance, the National Library of Medicine projected in January 2023 that the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases significantly contributes to the growth of the portable medical devices market.
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Who Are the Key Players Driving Portable Medical Devices Market Growth?
•Cardinal Health Inc.
•Johnson & Johnson Services Inc.
•Panasonic Holdings Corporation
•Abbott Laboratories
•Medtronic PLC
•Siemens Healthcare Private Limited
•Fujifilm Holdings Corporation
•Becton, Dickinson and Company
•Koninklijke Philips N.V.
•Stryker Corporation
•Baxter International Inc.
•Boston Scientific Corporation
•Biotricity Inc.
•Grifols S.A
•Terumo Corporation
•Fresenius Kabi AG
•GE HealthCare Technologies Inc.
•Hologic Inc.
•Dexcom Inc.
•QIAGEN GmbH
•Nipro Corporation
•Omnivision Technologies Inc.
•Shockwave Medical Inc.
•SARSTEDT GROUP
•Morepen Laboratories Ltd.
•Omron Healthcare Inc.
•Natus Medical Incorporated
•Samsung Healthcare
•Pulsatom Health Care Pvt. Ltd.
What Are The Key Trends In The Portable Medical Devices Market?
•Advancements in battery technology
•Integration of AI and machine learning
•Development of smart inhalers and drug delivery devices
•Integration of augmented reality
•Implementation of blockchain technology in healthcare
What Are The Segments Of The Global Portable Medical Devices Market?
-The portable medical devices market is segmented as follows:
1) By Product: Therapeutics, Smart Wearable Medical Devices, Diagnostic Imaging, Monitoring Devices, Neuromonitoring, Cardiac Monitoring, Respiratory Monitoring, Neonatal Monitoring, Fetal Monitoring, Other Products
2) By Application: Cardiology, Orthopedics, Gynecology, Urology, Gastrointestinal, Neurology, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Other End Users
Which Region Leads The Portable Medical Devices Market?
North America held the largest market share in the portable medical devices market in 2024. The portable medical devices market report also covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Portable Medical Devices Market Global Market Report?
- Market Size Analysis: Analyze the Portable Medical Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Portable Medical Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to overall Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Portable Medical Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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