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 As per The Business Research Company’s Portable Medical Devices Global Market Report 2023, The global portable medical devices market is expected to grow from $45.17 billion in 2022 to $50.59 billion in 2023 at a compound annual growth rate (CAGR) of 12%. The portable medical devices market is expected to reach $77.28 billion in 2027 at a CAGR of 11.2%.

What was the major driver in the portable medical devices market?
The growing prevalence of chronic diseases is expected to propel the growth of the portable medical devices market going forward. Chronic diseases are described generically as problems that persist a year or longer, need continuing medical treatment, and interfere with everyday activities. Portable medical devices assist patients suffering from chronic diseases track their health-related conditions, such as physiological conditions in post-acute, rehabilitation, and chronic cases. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the growing prevalence of chronic diseases drives the portable medical devices market.

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What was the key trend in the portable medical devices market?
Technological innovation is a key trend gaining popularity in the portable medical devices market. Major companies operating in the portable medical devices market are adopting new technologies to sustain their position in the market. For Instance, in November 2022, Philips, a Netherland-based conglomerate corporation, launched the Compact 5000 series of a next-generation compact portable ultrasound solution. This innovative system is featured with Philips collaboration live secure real-time telemedicine software that can call on additional clinical expertise via confident voice, text, screen sharing, and video streaming from anywhere with a mobile or internet connection and aims to increase accessibility to the diagnostic capabilities of high-end cart-based ultrasound machines. The Ultrasound Compact 5000 Series system is tailored with an optional battery to provide 2.5 hours of scanning time and 20% faster power-up capabilities. It is made to provide shared services for various medical specialties, such as cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

Which was the largest region in the portable medical devices market?
North America was the largest region in the portable medical devices market in 2022. The regions covered in portable medical devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the portable medical devices market prominent players?
Major players in the portable medical devices market are 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, Becton, Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, Baxter International Inc., Infineon Technologies AG, 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, and Pulsatom Health Care Pvt. Ltd.

Key portable medical devices market segments
The global portable medical devices market 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

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The Portable Medical Devices Global Market Report 2023  provides a comprehensive overview on the portable medical devices market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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