Portable Medical Devices Market by Product (CT Scan, Neonatal Monitoring, Diagnostic Imaging X-Ray, Endoscopes, Insulin Pumps, Image-Guided Therapy Systems, Nebulizer, Ultrasound, Smart Wearable Medical Device, Stress Monitoring Devices, Oxygen Concentrator, Cardiac Monitoring, Others), by Application (Medical Therapeutics, Diagnosis Health, Fitness & Wellness, Monitoring, Others) , by End-use (Hospitals, Ambulatory Surgery Centres, Homecare, Others), and by Region - Global Forecasts 2017 to 2027

Market Overview:

The Global Portable Medical Devices Market is estimated to be USD 57.4 Bn in 2020 and is expected to reach USD 105.6 Bn by 2027, growing at a CAGR of 9.1% during the forecast period (2020-2027).

Medical devices are used conventionally in the clinics and hospitals, these devices have evolved and become more portable and are creating new opportunities for the use in the home healthcare. Portable medical devices are wireless tools which are to improve and simplify the patient-care, especially in rural areas. Modern lifestyles have caused many diseases, and medical science has found a way to combat these diseases. Portable devices play an important role in monitoring and managing healthcare for the majority of patients. There are various portable medical devices on the market, and various next-generation devices are under development. 

Portable Medical Devices Market

The portable medical devices market is projected to grow with a significant rate during the forecast period owing to factors such as, increasing demand for the real-time analysis, diagnosis, & monitoring and rising demand for emergency healthcare services across the globe. Rising demand for wearable electronics is another propelling factor for the growth of the target market. However, growing demand for smart wearable devices owing to increased awareness about health is anticipated to create more growth opportunities for the players operating in the portable medical devices industry.  The key technical challenges are related to hardware, operating systems, and device connections.

The Global Portable Medical Devices Industry Segmentation:

By Product

  • CT Scan
  •  Neonatal Monitoring
  • Diagnostic Imaging X-Ray
  •  Endoscopes
  •  Insulin Pumps
  •  Image-Guided Therapy Systems
  •  Nebulizer
  •  Ultrasound
  • Smart Wearable Medical Device
  •  Stress Monitoring Devices
  •  Oxygen Concentrator
  •  Cardiac Monitoring
  •  Others

By Application

  • Medical Therapeutics
  • Diagnosis Health
  • Fitness & Wellness
  • Monitoring
  • Others

By End-use

  • Hospitals
  • Ambulatory Surgery Centres
  • Homecare
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Based on product type, smart wearable medical device segment is expected to witness the fastest growth.

Based on product type, the global portable medical devices market has been segmented into CT scan, neonatal monitoring, diagnostic imaging X-ray, endoscopes, insulin pumps, image-guided therapy systems, nebulizer, ultrasound, smart wearable medical device, stress monitoring devices, oxygen concentrator, and cardiac monitoring, others.

The smart wearable medical device segment is expected to observe the fastest growth during the forecast period. This is attributed to the growing demand for wristbands and other fitness monitoring equipment to continuously monitor the long-term health of consumers. Increasing awareness of continuous health monitoring and increasing attention to health issues have led to the growth of smart wearable devices.

Based on application, monitoring segment accounted for the largest share of the market in 2020.

The Global Portable Medical Devices Market is segmented into   medical therapeutics, diagnosis health, fitness & wellness, monitoring, others. Increasing adoption rate of monitoring equipment such as cardiac and neuromonitoring devices, vital sign monitoring, fetal and neonatal monitoring, the monitoring segment accounted for the largest market value share. In addition, major developments in smaller advanced platforms and subsequent product approvals are some of the factors driving the market growth.

Based on end-use, home care is expected to grow at the highest CAGR during the forecast period.

Based on end-use, home care segment is witnessing significant growth during the forecast period. This is due to recent miniaturization trends. Home care products are becoming more and more popular due to their low price and safety. Increasing hospital costs and the cost-effectiveness of home care products make home care an ideal choice for many people. With the vigorous development of home healthcare, the portable medical devices market is rising, including applications such as post-operative care, chronic disease management, and fitness.

Geographically, North America accounted for the largest share of the global portable medical devices industry.

North America accounted for the largest share of the global portable medical devices market in 2020 and is expected to maintain its dominance during the forecast period. This can be attributed to the substantial investment in research and development activities carried out in the healthcare sector. This factor will support the growth of the portable medical devices market in North America. In addition, favourable government initiatives and improvements in advanced medical equipment reimbursement policies will accelerate the growth of the portable medical equipment market.

Europe is expected to be followed closely by North America, and is expected to see significant growth in the near future. This growth is mainly driven by the high per capita income and developed healthcare infrastructure in the region.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  • Medtronic
  • KONINKLIJKE PHILIPS N.V
  • General Electric Company
  • Abbott
  • Omron Healthcare, Inc.
  • F. Hoffmann-La Roche Ltd
  • Natus Medical Incorporated
  • Maxim Integrated
  • Omni Vision Technologies, Inc.
  • Infineon Technologies AG
  • Siemens Healthcare.   
  • Philips Healthcare
  • Renesas Electronics Corporation
  • CareFusion Corporation

The report also provides in-depth analysis of the global portable medical devices market dynamics such as drivers, restraints and opportunities.

Drivers

  • Rising Demand for Wearable Electronics
  • Snowballing Technological Advancements
  • Increasing Geriatric Population

Restraints

  • Security Concerns Associated with the Device.
  • Connectivity Issues in Rural Areas

Opportunities

  • Growing Demand For Real-Time Analysis, Diagnosis, & Monitoring

COVID-19 Impact on the Global Portable Medical Devices Market

Outbreak of COVID-19 has positively affected the market of healthcare industry. To avoid the spread of virus, healthcare facilities and patients prefer to avoid physical visits to hospitals. Moreover, Stay-at-home warnings sparked a huge surge for at-home medical care. This includes patients monitoring their own health and participating in telemedicine to solve other healthcare problems. Thus, the indirect impact of COVID-19 on the medical device market subsequently increased the demand for portable medical devices. Remote patient monitoring equipment, glucose monitoring equipment, oxygen level monitoring device, and insulin pumps are among the devices that have increased demand. All these factors impacted the industry positively and further likely to grow with the significant rate during the forecast period. 

The report also provides an in-depth analysis of key trends in the portable medical devices market

Sr. No. Trends Impact
1 Breakthrough of COVID 19 increases the need of at-home medical care to avoid physical contacts Positive
2 With the growing demand across the world, several companies are investing in the portable medical devices Positive

The report also provides in-depth analysis of recent news developments and investments

  • In July 2018, the US FDA approved Healcerion’s Sonon 300L, an app-based handheld mobile ultrasound system designed for effective diagnosis in primary health centres’.
  • In June 2021, Quanta Dialysis Technologies raises $245M for portable haemodialysis system.

The unique insights provided by this report also includes the following:

  • In-depth value chain analysis
  • Opportunity mapping
  • Sector snapshot
  • Key Players Positioning Matrix
  • Regulatory scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market trends
  • Covid-19 impact analysis
  • Product comparison
  • Pre & Post COVID 19 impact on the Global Portable Medical Devices Market  
  • Competitive Landscape

Frequently Asked Questions (FAQs)

A few key players include, but not limited to: Medtronic, KONINKLIJKE PHILIPS N.V., General Electric Company, Abbott, Omron Healthcare, Inc., F. Hoffmann-La Roche Ltd, Natus Medical Incorporated, BD, OmniVision Technologies, Inc. and Infineon Technologies AG among others.

In the base year 2020, North America accounted for more than 25% share in the Global Portable Medical Devices Market

The Global Portable Medical Devices Market is estimated to grow at a compound annual growth rate (CAGR) of 9.1% during 2021-2027.

The global portable medical devices market is estimated to be USD 57.4 Bn in 2020 and is expected to reach USD 105.6 Bn by 2027.

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  1. INTRODUCTION
    1. Product Outline
    2. What is Global Portable Medical Devices
    3. Different types of Global Portable Medical Devices Systems
    4. Supply Chain Analysis
    5. Covid -19 Impact
    6. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    7. Technology Overview
  2. Regulatory Landscape for Global Portable Medical Devices    
    1. Regulations and Standards
  3. Global Portable Medical Devices Market by Type
    1.  CT Scan
    2.  Neonatal Monitoring
    3.  Diagnostic Imaging X-Ray
    4.  Endoscopes
    5.  Insulin Pumps
    6.  Image-guided Therapy Systems
    7.  Nebulizer
    8.  Ultrasound
    9.  Smart Wearable Medical Device
    10. Stress Monitoring Devices
    11. Oxygen Concentrator
    12. Cardiac Monitoring
    13. Others
  4. Global Portable Medical Devices Market by Application
    1. Medical Therapeutics
    2. Diagnosis Health
    3. Fitness & Wellness
    4. Monitoring
    5. Others
  5. Global Portable Medical Devices Market by End-users
    1. Hospitals
    2. Ambulatory Surgery Centres
    3. Homecare
    4. Others
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  7. Key Strategic Insights
    1. New Applications
    2. Emerging Technologies
    3. Opportunity Mapping
    4. Critical Success Factors
    5. Consumer Preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Ranking of Key Players
  10. KEY GLOBAL PLAYERS
    1. Medtronic
    2. KONINKLIJKE PHILIPS N.V
    3. General Electric Company
    4. Abbott
    5. Omron Healthcare, Inc.
    6. F. Hoffmann-La Roche Ltd
    7. Natus Medical Incorporated
    8. Maxim Integrated
    9. Omni Vision Technologies, Inc.
    10. Infineon Technologies AG
    11. Siemens Healthcare
    12. Philips Healthcare
    13. Renesas Electronics Corporation
    14. Roche Diagnostics
    15. CareFusion Corporation

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