London, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Exhibiting robust growth during the period of forecast 2022 – 2027, global demand for portable medical devices is likely to witness 9.2% CAGR. The latest published report of Fairfield Market Research suggests that the global market for portable medical devices will remain upbeat majorly attributing to the escalating rate of adoption of continuous monitoring and diagnostic solutions. Up from the projected revenue of over US$57.3 Bn to be attained in 2022, global portable medical devices market is expected to surpass US$96.9 Bn by 2027. While portability has been the key benefit of medical devices for pushing their application potential at a variety of medical and clinical settings, the rise of home healthcare, remote monitoring, and continuous monitoring trends will create a strong breeding ground for portable medical devices market.
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Healthcare Facilities Warrant Steady Demand Generation
While COVID-19 pandemic has turned the world of medicine and healthcare upside down, it has provided a major push to the prospects of continuous monitoring and diagnostics solutions. This has augured well for portable medical device sales. Increasing miniaturisation of products, market fragmentation, and strong price competition are collectively holding the market pace back, whereas the consistently rising number of healthcare facilities like home care, elderly care, and hospice centres serve as the booster to market growth. On the other hand, the ascending rate of hospitalisations also warrants a continuous stream of opportunities for portable medical devices market.
Market Thrives as a Result of Soaring Availability of Technological Advancements at Competitive Pricing
Portable medical devices market is slated for notable growth across developing nations as they represent the high-potential pockets for investors given the rapid pace of population growth, expanding chronic patient pool, improving healthcare spend, and the remarkable outlook of medical tourism. While the new untapped yet high-potential demographics have been finding the valuable medical products relatively cost-efficient over the recent past, bigger opportunities are likely to be created by a number of smaller players that offer high-quality products at cheaper prices. The trend is especially thriving across fast-developing economies like India, and China.
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Report Forecasts Exceptional Growth Prospects for Portable Medical Devices Market in Asia Pacific
While the developed western markets across North America, and Europe account for the primacy of the two regions in global portable medical devices market space, the report expects fastest growth of Asia Pacific at around 10.4% CAGR through 2027. In addition to noteworthy spending capacity, the market in North America, and Europe will continue to reap the benefit of supportive government rebates, and greater awareness regarding the growing availability of remote healthcare service alternatives. Asian markets on the other side will leverage the rocketing medical industry, as well as growing affordability of high-quality products.
Key Market Players
Medtronic PLC, Siemens Healthcare, GE Healthcare, Philips, Omron, Roche Diagnostics, Canon, and Shimadzu constitute some of the significant players steering the competition landscape of global portable medical devices market. The report reveals some exclusive insights into the strategic and financial details of some of the industry leaders with an intent to aid potential market participants.
REPORT SCOPE & SEGMENTATION:
Key Market Indicators, Market Estimates and Forecast (Value), Market Dynamics, Regulatory Guidelines, COVID-19 Impact Analysis, Regional and Country Insights, Competitive Landscape, Company Profiles
Table of Contents:
1. Executive Summary
1.1. Global Portable Medical Devices Market Outlook, 2019-2027 (US$ Million)
1.2. Global Portable Medical Devices Market Incremental Opportunity, 2022- 2027 (US$ Million)
1.3. Key Industry Trends
2. Market Overview
2.1. Market Definition and Segmentation
2.2. Market Dynamics
2.2.1. Market Drivers
2.2.2. Market Threats
2.2.3. Market Opportunities
2.3. Regulatory Framework
2.4. COVID 19 Impact Analysis
3. Global Portable Medical Devices Market Outlook, 2019-2027
3.1. Global Portable Medical Devices Market Outlook, By Product Type, 2019-2027
3.1.1. Key Highlights
3.1.2. Global Portable Medical Devices Market Outlook, by Product Type, Value (US$ Million), 2019-2027
22.214.171.124. Diagnostics and Monitoring
3.1.3. Global Portable Medical Devices Market Share and BPS Analysis, by Product Type, Value, 2022 and 2027
3.1.4. Global Portable Medical Devices Market Attractiveness Analysis, by Product Type, Value, 2022-2027
3.2. Global Portable Medical Devices Market Outlook, By Application Type, 2019-2027
3.2.1. Key Highlights
3.2.2. Global Portable Medical Devices Market Outlook, By Application Type, Value (US$ Million), 2019-2027
3.2.3. Global Portable Medical Devices Market Share and BPS Analysis, by Application Type, Value, 2022 and 2027
3.2.4. Global Portable Medical Devices Market Attractiveness Analysis, by Application Type, Value, 2022-2027
3.3. Global Portable Medical Devices Market Outlook, By Region, 2019-2027
3.3.1. Key Highlights
3.3.2. Global Portable Medical Devices Market Outlook, by Region, Value (US$ Million), 2019-2027
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Rest of the World
3.3.3. Global Portable Medical Devices Market Share and BPS Analysis, by Region, Value, 2022 and 2027
3.3.4. Global Portable Medical Devices Market Attractiveness Analysis, by Region, Value, 2022-2027
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