Rising Prevalence Of Chronic Diseases Fuels Growth In The Portable Medical Devices Market: An Emerging Driver Transforming The Portable Medical Devices Market Landscape

The Portable Medical Devices Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Portable Medical Devices Market?
In recent years, the market for portable medical devices has seen a substantial expansion. The market, which is valued at $55.17 billion in 2024, will witness an increase to $61.25 billion in 2025, signifying an impressive compound annual growth rate (CAGR) of 11.0%. Such significant growth in the past can be linked to factors like the miniaturization of electronics, the rise in chronic diseases, an aging population, the emergence of telehealth and remote monitoring, as well as point-of-care testing.

Expectations are high for the rapid expansion of the portable medical devices market over the coming years, with projections reaching $95.56 billion in 2029, thanks to a compound annual growth rate (CAGR) of 11.8%. Potential contributors to this growth in the forecast period include global health crises, the rise of digital health platforms, expansion of home healthcare, efforts to contain healthcare costs, and the adoption of wearable health technologies. Foreseeable trends within the same time frame encompass improvements in battery technology, the incorporation of AI and machine learning, development of smart inhalers and drug delivery devices, application of augmented reality, and the utilization of blockchain technology in healthcare.

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What Are the Different Portable Medical Devices Market Segments?
The portable medical devices market covered in this report is segmented -

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

Subsegments:
1) By Therapeutics: Portable Infusion Pumps, Portable Oxygen Concentrators, Portable Dialysis Devices
2) By Smart Wearable Medical Devices: Smartwatches With Health Monitoring, Fitness Trackers, Smart Clothing
3) By Diagnostic Imaging: Portable Ultrasound Devices, Handheld X-ray Devices, Portable MRI Systems
4) By Monitoring Devices: Blood Glucose Monitors, Portable ECG Monitors, Portable Blood Pressure Monitors
5) By Neuromonitoring: Portable EEG Devices, Wearable Neuromodulation Devices
6) By Cardiac Monitoring: Holter Monitors, Implantable Cardiac Monitors, Remote Cardiac Monitoring Systems
7) By Respiratory Monitoring: Portable Spirometers, Home Sleep Apnea Testing Devices, Portable Respiratory Rate Monitors
8) By Neonatal Monitoring: Portable Pulse Oximeters For Infants, Portable Cardiac Monitors For Neonates
9) By Fetal Monitoring: Portable Fetal Heart Rate Monitors, Wireless Fetal Monitoring Systems
10) By Other Products: Portable Defibrillators, Mobile Health Apps, Telehealth Devices

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What Are the Primary Drivers Shaping the Portable Medical Devices Market?
The portable medical devices market is predicted to expand due to the rising occurrence of chronic diseases. Long-term illnesses which last more than a year, necessitate ongoing medical attention and hinder daily activities are termed as chronic diseases. Patients battling these health issues can monitor their well-being, particularly in situations such as post-acute, rehabilitative and chronic cases, using portable medical devices. As an illustration, the National Library of Medicine, an organization based in the US, predicted in January 2023 that the population in the US over the age of 50 suffering from at least one chronic condition will rise by 99.5%, escalating from 71.522 million in 2020 to 142.66 million by 2050. This increase in the incidence of chronic illnesses is thus stimulating the growth of the portable medical devices market.

Which Companies Are Leading in the Portable Medical Devices Market?
Major companies operating in the portable medical devices market include 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 Major Trends Shaping the Portable Medical Devices Market?
Advancements in technology is a prominent trend in the portable medical devices market, with top companies embracing these innovations to maintain their market stance. For example, Philips, a corporation based in The Netherlands, introduced the Compact 5000 series of advanced compact portable ultrasound solution in November 2022. This cutting-edge system incorporates Philips' real-time telemedicine software that offers the ability to access additional clinical expertise through voice, text, screen sharing, and video streaming from any location with a mobile or internet connection. The software strives to enhance accessibility to the high-end diagnostic potential of cart-based ultrasound machines. The Ultrasound Compact 5000 Series system can provide 2.5 hours of scanning time due to its optional battery and power up 20% faster. It's designed to offer shared services across diverse medical specialties such as cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

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What Are the Top Revenue-Generating Geographies in the Portable Medical Devices Market?
North America was the largest region in the portable medical devices market in 2024. The regions covered in the portable medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Portable Medical Devices Market?
2. What is the CAGR expected in the Portable Medical Devices Market?
3. What Are the Key Innovations Transforming the Portable Medical Devices Industry?
4. Which Region Is Leading the Portable Medical Devices Market?

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