Portable Medical Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Portable Medical Devices market size is expected to be worth around US$ 95.3 billion by 2030, according to a new report by Vision Research Reports.

The global Portable Medical Devices market size was valued at US$ 54.2 billion in 2020 and is anticipated to grow at a CAGR of 10.7% during forecast period 2021 to 2030.

Growth Factors

The market is majorly driven by the increasing adoption of portable therapeutics, diagnostics, and monitoring devices in healthcare facilities. Growing usage of small, lightweight, and handheld devices such as spirometers that help in diagnosing the respiratory diseases is anticipated to provide significant traction to the global market in the forthcoming years.

Furthermore, the upward trend of preventive healthcare and subsequently rising adoption of smart wearables are among other factors boosting the growth of the market for portable medical devices. Fitness trackers and smartwatches exhibit features that offer healthcare benefits. Wearables compute data from day to day activities of users. This data can be used by the physicians to decide a treatment plan.

Report Highlights

Monitoring devices held the largest market share in 2020with a valuation of USD 21.9 billion owing to growing adoption in healthcare centers. Technological advancements, new product approvals, and advantages such as compact design and mobility are some other factors driving the market. For instance, in 2016, the U.S. FDA approved Dexcom G5 mobile continuous glucose monitoring system for patients with type 1 and type 2 diabetes for real-time glucose monitoring every five minutes.

Diagnostics segment held the second-largest market share in terms of revenue in 2020 owing to increasing adoption of x-ray, CT scan, handheld ultrasound systems, and endoscopes among other systems in healthcare settings. Development of smaller, technologically advanced imaging platforms and subsequent product approvals are some other factors boosting the market. For instance, in July 2018, Healcerion received U.S. FDA approval for its handheld, application-based mobile ultrasound system Sonon 300L, designed for efficient and effective diagnosis in primary healthcare centers.

The smart wearable devices segment is expected to witness the fastest CAGR of 19.0% over the forecast period. This can be attributed to the rising demand for fitness and wristbands for long-term continuous health monitoring. Focus on preventive healthcare and the growing adoption of technologically advanced products are also expected to contribute to the growth of the portable medical devices market.

The other application segment that consists of oncology, musculoskeletal, thoracic, vascular, and metabolic applications, accounted for the largest market share of 34.5% in terms of revenue in 2020. The growing prevalence of cancer coupled with rising usage of diagnostic imaging and image-guided therapy systems is one of the key factors attributed to this growth. Moreover, the rising prevalence of diabetes and the adoption of advanced therapeutics is also contributing to the segment growth.

Cardiology held the second largest market share in terms of revenue in 2020. This is attributed to technological advancements and new product development in cardiology. For instance, in 2017, EKO Devices announced U.S. FDA clearance for commercializing its product, Eko Duo, a combined stethoscope and ECG, which can be used as an effective monitoring tool. Furthermore, the high adoption of advanced technologies such as smart wearables to maintain cardiac function is also boosting the market.

Gynecology is expected to witness growth at a lucrative CAGR of 13.8% over the forecast period. Technological advancements and growing adoption of portable monitoring and imaging technologies are the key growth drivers. For instance, the development of handheld ultrasound systems such as Signos RT, manufactured by Signostics, for real-time monitoring of the fetus.

North America held the largest revenue share of 41.7% in 2020. High adoption of technologically advanced devices, high treatment rates, and supportive government initiatives for early diagnosis of diseases are among the few factors growth drivers for the market. An example of government initiatives in the area of imaging is the Cancer Imaging Program initiated by the National Cancer Institute. This program is aimed at promoting and supporting cancer-related basic, clinical, and translational research in imaging and technology. It is also aimed at developing, integrating, and applying these imaging innovations for clinical management of cancer.

High adoption of monitoring, diagnostic, and therapeutic systems for disease management is anticipated to bode well for regional growth. The growing geriatric population and subsequently rising burden of chronic diseases is also propelling the market. According to the Centers for Disease Control and Prevention (CDC) estimates published in 2017, nearly 30.3 million people in the U.S. were living with diabetes in 2015. This number is expected to continue growing, which, in turn, is anticipated to boost the adoption of technologies such as continuous glucose monitoring and insulin pumps in this region.

Key Players

Koninklijke Philips N.V, General Electric Company, Medtronic, OMRON Corporation, Samsung, and F. Hoffmann-La Roche Ltd.

Market Segmentation

  • Product Outlook 

    • Diagnostic Imaging

      • CT

      • X-ray

      • Ultrasound

      • Endoscope

    • Therapeutics

      • Insulin Pump

      • Nebulizer

      • Oxygen Concentrator

      • Image-guided Therapy Systems

    • Monitoring Devices

      • Cardiac Monitoring

        • Holter Monitors

        • Resting ECG System

        • Stress ECG Monitors

        • Event Monitoring Systems

        • (Electrocardiography) ECG Management Systems

      • Neuromonitoring

        • Electroencephalography (EEG) Machines

        • Electromyography (EMG) Machines

        • Intracranial pressure (ICP) Monitors

        • Magnetoencephalography (MEG) Machines

        • Cerebral Oximeters

      • Respiratory Monitoring

        • Capnographs

        • Spirometers

        • Peak Flow Meters

      • Fetal Monitoring

      • Neonatal Monitoring

      • Hemodynamic Monitoring Systems

      • Vital Sign Monitors

    • Smart Wearable Medical Devices

  • Application Outlook 

    • Gynecology

    • Cardiology

    • Gastrointestinal

    • Urology

    • Neurology

    • Respiratory

    • Orthopedics

    • Others

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

      • Spain

      • Italy

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • New Zealand

    • Latin America

      • Argentina

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Portable Medical Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Portable Medical Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Portable Medical Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Portable Medical Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Portable Medical Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Portable Medical Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Portable Medical Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Portable Medical Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Portable Medical Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Portable Medical Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Portable Medical Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Portable Medical Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Portable Medical Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Portable Medical Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Portable Medical Devices market. These factors have benefited the growth of the global market for Portable Medical Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Portable Medical Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Portable Medical Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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