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How Has the Portable Medical Devices Market Grown from 2024 to 2025?

The expansion of the portable medical devices market has been swift and significant in the recent years. The market is projected to surge from a value of $55.17 billion in 2024 to $61.25 billion in 2025, representing a compound annual growth rate (CAGR) of 11.0%. The increase in the previous years is due to factors such as the miniaturization of electronics, a rise in chronic illnesses, an aging populace, the proliferation of telehealth and remote monitoring, and point-of-care testing.

What Growth Rate Is Anticipated for the Portable Medical Devices Market in the Coming Years?

The market size of portable medical devices is anticipated to experience a swift expansion in the succeeding years. The market is predicted to escalate to a value of $95.56 billion by the year 2029, with a compound annual growth rate (CAGR) of 11.8%. Factors such as worldwide health crises, the incorporation of digital health, the rise in home healthcare, the effort to restrain healthcare costs, and the adoption of wearable health technology contribute to this growth in the anticipated time. The forecast period will also see emerging trends like improvements in battery technology, AI and machine learning utilisation, the advent of smart inhalers and drug delivery devices, integration of augmented reality, and the application of blockchain technology in the healthcare sector.

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Who Are the Leading Companies 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 Are the Key Drivers of the Portable Medical Devices Market?

The increasing occurrence of long-term illnesses is anticipated to stimulate the expansion of the portable medical devices industry in future. Such diseases are generally defined as conditions that last over a year, require ongoing medical attention, and disrupt daily activities. Portable medical devices provide support to patients living with chronic diseases by helping them monitor their health issues, including physiological circumstances in post-acute, rehabilitation, and chronic situations. For example, the US-based National Library of Medicine reported in January 2023 that the count of individuals in the US aged 50 or older affected by at least one chronic disease would see a surge of 99.5%, rising from 71.522 million in 2020 to 142.66 million by 2050. Hence, the increasing incidence of such chronic illnesses is fuelling the growth of the portable medical devices industry.

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What Are the Key Market Segments in the Portable Medical Devices Industry?

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

What Are the Latest Trends in the Portable Medical Devices Market?

The rise of technological advancements is an ongoing trend that is gaining traction in the market for portable medical devices. Leading companies in this market are embracing these innovative technologies to maintain their competitive edge. Case in point, the Netherland-based conglomerate corporation, Philips, launched a next-generation compact portable ultrasound solution called the Compact 5000 series in November 2022. This new system incorporates Philips’ live secure real-time telemedicine software for collaboration, equipping healthcare providers with the ability to communicate via voice, text, and video streaming, as well as share the screen from any location with either mobile or internet access. The goal is to broaden the reach of diagnostic capabilities similar to those of high-end cart-based ultrasound machines. The Ultrasound Compact 5000 Series system comes with an optional battery that can support 2.5 hours of scanning time and powers up 20% quicker. Additionally, it caters to a range of medical specializations, such as cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

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What Are the Key Regional Markets in the Portable Medical Devices Industry?

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.

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This Report Delivers Insight On:

1. How big is the portable medical devices market, and how is it changing globally?

2. Who are the major companies in the portable medical devices market, and how are they performing?

3. What are the key opportunities and risks in the portable medical devices market right now?

4. Which products or customer segments are growing the most in the portable medical devices market?

5. What factors are helping or slowing down the growth of the portable medical devices market?

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