Portable Medical Devices Market Size, Share & Trends Analysis Report By Product (Diagnostic, Monitoring, Therapeutics, Smart Wearable Devices), By Application, By Region, And Segment Forecast, 2018 - 2025

Industry Insights

The global portable medical devices market size was estimated at USD 44.2 billion in 2017 and is anticipated to expand at a CAGR of 8.7% over the forecast period. Increasing adoption of technologically advanced smart wearables and image-guided therapy systems coupled with the ongoing trends of accurate and real-time monitoring is anticipated to drive market growth. Rising awareness regarding the benefits of portable devices, such as increased mobility, is also attributed to the surging adoption of portable medical devices in hospitals and other healthcare settings.

Ongoing technological advancements are also one of the key factors driving the growth of the market. Preference for portable and less intrusive medical technologies has increased the demand for oxygen concentrators, insulin pumps, and image-guided therapy systems among other healthcare devices. Thus, manufacturers focus on developing innovative technologies that are compact, wireless, and user-friendly. Technological advancements in sensors, embedded systems, and electronics combined with developments in medical devices are expected to drive innovations in medical technologies, further boosting the market growth.

The rising number of product approvals by the regulatory authorities and subsequent product launches is expected to drive the market. For instance, in August 2018, Caretaker Medical received CE certification for Caretaker4 wireless CNIBP Vital signs monitor. In 2016, GE Healthcare launched a new generation portable cardiovascular ultrasound system, Vivid iq that provides high image quality and superior functionality. In February 2016, LifeWatch AG received the U.S. Food and Drug Administration (FDA) clearance for its patch-based continuous vital monitoring systems.

The growing burden of chronic diseases coupled with the rise of preventive healthcare is further expected to positively impact the market for portable medical devices in the forthcoming years. Rising geriatric population, changing lifestyle, unhealthy eating habits, and environmental factors increase the burden of diseases. The rising need for monitoring the physical activities of individuals for early diagnosis or prevention of diseases is expected to drive demand for fitness devices.

Rising adoption of wearable devices and other portable technologies is one of the key factors boosting the expansion of the market. These devices keep a track of physical activities of patients in real-time. Moreover, their application in remote patient monitoring reduces healthcare costs, which in turn, is projected to drive the demand in the near future. Additionally, wearables help in evaluating the performance, physiological parameters, and body kinematics of athletes. Thus, rising adoption among professional athletes is also expected to positively influence market growth.

Product Insights

Monitoring devices held the largest market share in 2017 with 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 2017 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.

Application Insights

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 2017. 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 2017. 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.

Regional Insights

North America held the largest revenue share of 41.7% in 2017. 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.

Asia Pacific, on the other hand, is expected to expand at the fastest CAGR of 11.4% over the forecast period. Improving treatment rates and healthcare infrastructure along with the adoption of smart wearables are attributed to the regional market growth. For instance, according to a Forbes article published in 2018, the demand for smart wearables from India is expected to surge owing to changing consumer lifestyle, the rising popularity of wearable technology, and rising accessibility of these devices.

Portable Medical Devices Market Share Insights

Some of the key players operating in the market are Koninklijke Philips N.V, General Electric Company, Medtronic, OMRON Corporation, Samsung, and F. Hoffmann-La Roche Ltd. Most companies adopt key strategies such as collaborations and mergers and acquisitions to develop novel products and innovative solutions and to expand their global presence. For instance, Vyaire Medical acquired Acutronic Medical Systems, a developer and manufacturer of neonatal ventilation equipment in 2018. This acquisition was aimed at improving the company’s portfolio of respiratory devices.

Report Scope

Attribute	Details
Base year for estimation	2017
Actual estimates/Historical data	2014 - 2016
Forecast period	2018 - 2025
Market representation	Revenue in USD Million and CAGR from 2018 to 2025
Regional scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope	U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, Australia, New Zealand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5-analyst working days)	如果你需要特定的信息,这不是坏蛋rently within the scope of the report, we will provide it to you as a part of customization

赛格ments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the global portable medical devices market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • 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 (Revenue, USD Million, 2014 - 2025)

  • Gynecology

  • Cardiology

  • Gastrointestinal

  • Urology

  • Neurology

  • Respiratory

  • Orthopedics

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • 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