Portable Medical Devices Market Growth Accelerates: Strategic Forecast Predicts $95.56 Billion by 2029

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What Will the Portable Medical Devices Industry Market Size Be by 2025?
The market for portable medical devices has seen considerable growth in the recent past. The market size, which was at $55.17 billion in 2024, is projected to rise to $61.25 billion in 2025, registering a compound annual growth rate (CAGR) of 11.0%. Key factors responsible for the growth during the historic period include shrinking size of electronic components, rising cases of chronic illnesses, growing geriatric population, the advent of telehealth and remote monitoring, and point-of-care testing.

What's the Long-Term Growth Forecast for the Portable Medical Devices Market Size Through 2029?
In the coming years, the market size for portable medical devices is forecasted to experience swift expansion, reaching $95.56 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 11.8%. Factors contributing to this growth include global health crises, digital healthcare inclusion, surge in home healthcare, cost constraints in healthcare, and the uptake of wearable healthcare technology. Some of the key trends predicted for this period encompass improvements in battery technology, the inclusion of AI and machine learning, development in smart inhalers and medicine delivery devices, the application of augmented reality, and the use of blockchain technology in the healthcare sector.

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What Are the Key Growth Drivers Fueling the Portable Medical Devices Market Expansion?
The increase in cases of chronic diseases is predicted to boost the growth of the portable medical devices market. Chronic diseases, broadly defined, are issues that last for more than a year, require regular medical attention, and disrupt daily activities. Portable medical devices offer a solution for patients with chronic diseases to monitor their health-related conditions, particularly physiological conditions in post-acute, rehabilitation, and chronic scenarios. For example, a January 2023 report by the National Library of Medicine, an agency based in the US, stated that individuals in the US aged 50 and older with at least one chronic condition will see an increase of 99.5%, rising from 71.522 million in 2020 to 142.66 million by 2050. Thus, the escalating cases of chronic diseases act as a catalyst for the portable medical devices market growth.

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What Are the Key Trends Driving Portable Medical Devices Market Growth?
Embracing technological innovation is becoming increasingly common in the portable medical devices marketplace. It's a critical trend where significant industry players are integrating new technologies in an effort to maintain their market standing. For instance, in November 2022, the Netherlands-based business conglomerate Philips launched their new Compact 5000 series, representing the next step in compact portable ultrasound solutions. This pioneering system includes Philips collaboration live secure real-time telemedicine software, facilitating additional clinical support through voice, text, screen sharing, and video streaming, accessible from any location with internet or mobile connectivity. The objective is to broaden accessibility to the diagnostic capabilities typically associated with high-end cart-based ultrasound machines. The Compact 5000 Series ultrasound system carries an optional battery, offering a scanning time of 2.5 hours and powering up 20% quicker. This diverse system is intended to cater to various medical fields, including cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

How Is the Portable Medical Devices Market Segmented?
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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Which Companies Are Leading the Charge in Portable Medical Devices Market Innovation?
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.

Which Regions Are Leading the Global Portable Medical Devices Market in Revenue?
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.

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