Portable Medical Devices Market Set for Robust Growth, Expected to Reach $85.86 Billion by 2028

Portable Medical Devices Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 10, 2024 /EINPresswire.com/ -- The global portable medical devices market is projected to grow from $50.59 billion in 2023 to $56.6 billion in 2024, at a CAGR of 11.9%. This market is anticipated to reach $85.86 billion by 2028, growing at a CAGR of 11.0%, driven by the increasing prevalence of chronic diseases and the integration of digital health technologies.

Growing Prevalence of Chronic Diseases Drives Market Growth
The increasing prevalence of chronic diseases is a significant factor propelling the growth of the portable medical devices market. Chronic diseases, which require ongoing medical treatment and interfere with daily activities, necessitate effective health management solutions. Portable medical devices assist patients in tracking health conditions, providing critical support for rehabilitation and chronic care. For example, the number of individuals aged 50 and older in the US with at least one chronic condition is expected to increase from 71.522 million in 2020 to 142.66 million by 2050, emphasizing the need for portable medical solutions.

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Key Players and Market Trends
Major companies in the portable medical devices market include Cardinal Health Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Panasonic Holdings Corporation, Abbott Laboratories, Medtronic PLC, Siemens Healthcare Private Limited, Fujifilm Holdings Corporation, and many others. These companies are focusing on product innovation to enhance patient care and monitoring efficiency. For instance, LifeSignals launched UltraLinQ Holter Service in June 2021, offering a wireless ECG recording and cloud-based analysis system for extended patient monitoring.

Major Trends in the Portable Medical Devices Market
Key trends driving the market include advancements in battery technology, AI and machine learning integration, smart inhalers, drug delivery devices, augmented reality, and blockchain technology in healthcare. These innovations are transforming the landscape of portable medical devices, making them more efficient, accurate, and user-friendly.

Segments:
• Product: Therapeutics, Smart Wearable Medical Devices, Diagnostic Imaging, Monitoring Devices, Neuromonitoring, Cardiac Monitoring, Respiratory Monitoring, Neonatal Monitoring, Fetal Monitoring, Other Products
• Application: Cardiology, Orthopedics, Gynecology, Urology, Gastrointestinal, Neurology, Other Applications
Geographical Insights: North America Leading the Market

North America was the largest region in the portable medical devices market in 2023. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Portable Medical Devices Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Portable Medical Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on portable medical devices market size, portable medical devices market drivers and trends, portable medical devices market major players, competitors' revenues, market positioning, and market growth across geographies. The portable medical devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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