2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

How Are Key Drivers Contributing to the Growth and Expansion of the Portable Medical Devices Market?

The escalation in chronic illnesses is predicted to stimulate the expansion of the portable medical devices market. Chronic illnesses are broadly defined as conditions that last for a year or more, require ongoing medical attention, and hinder routine activities. Portable medical equipment helps patients with chronic diseases in monitoring their health status, for instance, physiological conditions in post-critical, rehabilitative, and chronic scenarios. For example, in January 2023, the National Library of Medicine, a US-based institution, projected that the number of individuals in the US aged 50 and above with at least one chronic illness would rise by 99.5%, from 71.522 million in 2020 to 142.66 million by 2050. Hence, the escalating prevalence of chronic diseases is fuelling the portable medical devices market’s growth.

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#What is the Anticipated CAGR of thePortable Medical Devices Market, and What Factors Will Drive It?

The market size for portable medical devices has experienced fast-paced growth in recent years. The market, which was worth $55.17 billion in 2024, is predicted to increase to $61.25 billion in 2025, representing a compound annual growth rate (CAGR) of 11.0%. Factors contributing to the expansion during the observed period include the miniaturization of electronics, a rise in chronic health conditions, an aging population, and advancements in telehealth, remote monitoring, and point-of-care testing.

The market for portable medical devices is anticipated to witness swift expansion in the upcoming years, with a projected rise to $95.56 billion in 2029. This accounts for a compound annual growth rate (CAGR) of 11.8%. Factors contributing to this growth during the forecast period include global health crises, integration of digital health, rising home healthcare, control on healthcare costs, and the adoption of wearable health technology. The market trends to watch for within the forecast period consist of improvements in battery technology, the integration of artificial intelligence and machine learning, the use of smart inhalers and drug delivery devices, the incorporation of augmented reality, and the application of blockchain technology in the healthcare sector.

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What New Market Trends Are Reshaping thePortable Medical Devices Market and Its Opportunities?

The rise of technological innovation is a trending phenomenon that is gaining traction within the portable medical devices market. To maintain their market standing, powerhouse companies within this sector are embracing new technological advances. For example, in November 2022, Netherlands-based conglomerate corporation, Philips, unveiled their next-generation compact portable ultrasound solution, the Compact 5000 series. This ground-breaking system is equipped with Philips’ collaboration live, a real-time telemedicine software that allows the interchange of clinical expertise via text, voice call, screen sharing, and video streaming, all manageable through a mobile or internet connection – aiming to enhance the accessibility to the diagnostic capabilities of top-tiered cart-based ultrasound machines. The Ultrasound Compact 5000 Series system comes with an optional battery, promising 2.5 hours of scan time and a 20% increase in power-up speed. Moreover, this device caters to shared services across multiple medical specialties, including cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

Who Are the Leading Market Players Fueling Growth in the Portable Medical Devices Market Trend?

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.

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How is the Global Portable Medical Devices Market Segemented?

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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Which Geographics are Influencing the Growth of 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.

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