What Does the Historical and Current Portable Medical Devices Market Size Trend Indicate?
The portable medical devices market has seen considerable growth due to a variety of factors.
•The market size for portable medical devices has seen rapid expansion lately, with projections estimating an increase from $55.17 billion in 2024 to $61.25 billion in 2025, representing a compound annual growth rate (CAGR) of 11.0%.
Factors contributing to this rise during the historic period include the downsizing of electronics, a rise in chronic illness cases, an aging demographic, advancements in telehealth and remote monitoring, and more widespread use of point-of-care testing.
How Will the Portable Medical Devices Market Size Evolve over the Forecast Period?
The portable medical devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for portable medical devices is anticipated to experience a swift expansion in the near future. The market is projected to surge to a value of $95.56 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.8%.
Factors contributing to the market's growth in the predicted period include worldwide health crises, integration of digital health, rising home health care, containment of health care costs, and the adoption of wearable health technologies. Key trends that will shape the market during this period involve advancements in battery technologies, incorporation of AI and machine learning, development of smart inhalers and drug delivery apparatus, integration of augmented reality, and the application of blockchain technology in healthcare.
What Factors Are Driving Growth In The Portable Medical Devices Market?
The rise in chronic diseases is anticipated to fuel the expansion of the portable medical devices market. Chronic conditions are generally characterized as lasting a year or more, requiring on-going medical treatment, and interfering with daily functions. Portable medical devices aid individuals with these long-term conditions by helping them monitor their health status, particularly in post-acute, rehabilitative, and chronic scenarios. For example, the National Library of Medicine, a U.S. agency, projected in January 2023 that the population aged 50 or more in the U.S with at least one chronic disease would surge by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Consequently, the increasing incidence of chronic diseases is a driving factor for the portable medical devices market.
What Are The Main Segments Of The Global Portable Medical Devices Market?
The portable medical devices market covered in this report is segmented –
1) By Product: Therapeutics, Smart Wearable Medical Devices, Diagnostic Imaging, Monitoring Devices, Neuromonitoring, Cardiac Monitoring, Respiratory Monitoring, Neonatal Monitoring, Fetal Monitoring, Other Products
2) By Application: Cardiology, Orthopedics, Gynecology, Urology, Gastrointestinal, Neurology, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Patient, Ambulatory Care Centers, Surgical Centers, Other End Users
Subsegments:
1) By Therapeutics: Portable Infusion Pumps, Portable Oxygen Concentrators, Portable Dialysis Devices
2) By Smart Wearable Medical Devices: Smartwatches With Health Monitoring, Fitness Trackers, Smart Clothing
3) By Diagnostic Imaging: Portable Ultrasound Devices, Handheld X-ray Devices, Portable MRI Systems
4) By Monitoring Devices: Blood Glucose Monitors, Portable ECG Monitors, Portable Blood Pressure Monitors
5) By Neuromonitoring: Portable EEG Devices, Wearable Neuromodulation Devices
6) By Cardiac Monitoring: Holter Monitors, Implantable Cardiac Monitors, Remote Cardiac Monitoring Systems
7) By Respiratory Monitoring: Portable Spirometers, Home Sleep Apnea Testing Devices, Portable Respiratory Rate Monitors
8) By Neonatal Monitoring: Portable Pulse Oximeters For Infants, Portable Cardiac Monitors For Neonates
9) By Fetal Monitoring: Portable Fetal Heart Rate Monitors, Wireless Fetal Monitoring Systems
10) By Other Products: Portable Defibrillators, Mobile Health Apps, Telehealth Devices
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What Emerging Trends Are Influencing The Growth Of The Portable Medical Devices Market?
The portable medical devices market is experiencing a surge in popularity due to technological advancements. To remain competitive, key companies in the sector are embracing new technologies. For instance, Philips, a corporation based in the Netherlands, rolled out the new generation Compact 5000 series portable ultrasound solution in November 2022. This state-of-the-art system comes with real-time telemedicine software from Philips collaboration live, enabling access to additional clinical expertise through voice, text, screen sharing, and video streaming, from any location with mobile or internet connectivity. The system is designed to enhance the reach of diagnostic abilities of top-tier cart-based ultrasound machines. The Ultrasound Compact 5000 series system also comes with an optional battery, offering 2.5 hours of scanning time and 20% quicker power-up capabilities. It is equipped to cater to a variety of medical specialties, including cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.
Who Are the Key Players in the Portable Medical Devices Market?
Major companies operating in the portable medical devices market include:
• Cardinal Health Inc.
• Johnson & Johnson Services Inc.
• Panasonic Holdings Corporation
• Abbott Laboratories
• Medtronic PLC
• Siemens Healthcare Private Limited
• Fujifilm Holdings Corporation
• Becton
• Dickinson and Company
• Koninklijke Philips N.V.
• Stryker Corporation
• Baxter International Inc.
• Boston Scientific Corporation
• Biotricity Inc.
• Grifols S.A
• Terumo Corporation
• Fresenius Kabi AG
• GE HealthCare Technologies Inc.
• Hologic Inc.
• Dexcom Inc.
• QIAGEN GmbH
• Nipro Corporation
• Omnivision Technologies Inc.
• Shockwave Medical Inc.
• SARSTEDT GROUP
• Morepen Laboratories Ltd.
• Omron Healthcare Inc.
• Natus Medical Incorporated
• Samsung Healthcare
• Pulsatom Health Care Pvt. Ltd.
What Is The Most Dominant Region In The Portable Medical Devices Market?
North America was the largest region in the portable medical devices market in 2024. The regions covered in the portable medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
