Handhelds in Healthcare Market - Positive long-term growth outlook 2023

The introduction of portable handheld devices has greatly influenced many fields, including medical science. Healthcare professionals now use various handheld devices to provide point-of-care services to patients across the world. The handhelds in healthcare market has witnessed a remarkable growth due to the development of portable and highly precise patient monitoring devices. Moreover, with the amalgamation of advance technologies such as cloud-based mobile healthcare services and telemedicine with the handheld devices it is expected that the handheld in healthcare market will experience a significant growth in the near future.

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In terms of geographical analysis, North America followed by Europe account for the largest market share of handhelds in healthcare market due to the high adoption rate of mobile handheld devices in healthcare facilities and hospitals. Moreover, rising geriatric population in developed nations such as the U.S., U.K., Germany, France, Italy and Canada would further push the market growth of handheld devices in healthcare. According to the World Health Organization (WHO) estimates, the global geriatric population would reach around 2 billion (22% of the global population) by 2050, which was around 524 million in 2010. Moreover, according to the United Nations, the number of people aged 60 years and above is likely to increase from 841 million in 2013 to over 2 billion by 2050. Thus, the increasing base of geriatric population it is expected to drive the sales of handheld patient monitoring devices in the near future. Moreover, other regions such as Middle East, Latin America and South East Asia are expected to be the prospective markets in the near future. Due to the high adoption rate of handheld monitoring devices and highly developing healthcare industry, these regions are expected to be the potential market in the near future.

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The global handhelds in healthcare market is witnessing an admirable growth due to the growing aging population, rising demand for medical process automation technologies and continuing product innovations. Furthermore, hospital supply cost limiting policies along with increased demand for error reduction in the healthcare industry are expected to boost the growth of overall handhelds in healthcare market in the near future. The major usage various handhelds devices lies within the established healthcare facilities that demands, rapid, accurate and biased free point-of-care tests results. In addition, the use of portable handheld mobile devices in hospitals and pharmaceutical industry decreases human biases and enables easy data control and monitoring. Additionally, increasing usage of various mobile administrative devices such as PDA’s and tablet’s is further driving the growth of this market. These highly precise instruments are also extensively used in the patient data management process within the healthcare facility for maintaining the quality and uniformity. Thus, it has been expected that owing to the preciseness and accurate results of the handheld devices, these devices have the potential to revolutionize the work process of the overall healthcare industry. However, low commercial availability of product, low adoption rate and high pricing are few of the important factors that might act as hindrances for the growth of this market.

The global handhelds in healthcare market is robustly competitive and consolidated due to the contribution and presence of many established as well as emerging players in this market. The market is expected to witness a high growth rate due to the growing demand for mobile and portable handheld patient monitoring devices. Some of the key players involved in the handhelds in healthcare market are Apple, Inc, BlackBerry Limited, GE Healthcare, Honeywell International Inc., Hewlett-Packard Development Company, L.P., Medtronic plc, Motorola Solutions, Inc., Omron Corporation, Siemens Healthcare, Socket Mobile and Welch Allyn, Inc.

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