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How has the portable medical devices market grown in recent years?

Over the past few years, the market size of portable medical devices has experienced rapid expansion. Its value is set to escalate from $55.17 billion in 2024 to $61.25 billion in 2025, marking a compound annual growth rate (CAGR) of 11.0%. This significant growth during the historic period is driven by factors such as the miniaturization of electronics, a rise in chronic diseases, an aging population, advancements in telehealth and remote monitoring, and point-of-care testing.

How is the portable medical devices market size expected to evolve during the forecast period?

Predictions suggest a swift expansion for the portable medical devices market in the approaching years, with its value estimated to reach $95.56 billion in 2029, registering a compound annual growth rate (CAGR) of 11.8%. This growth during the outlook period is believed to be driven by global health crises, the rise in digital health solutions, an upswing in home healthcare, efforts to accommodate healthcare costs, and the acceptance of wearable health technology. The forecast period is also expected to observe major trends such as improvements in battery technology, the implementation of artificial intelligence and machine learning, the rise of smart inhalers and drug delivery devices, the inclusion of augmented reality, and the adaptation of blockchain technology in the healthcare sector.

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Which key drivers are propelling the portable medical devices market’s growth?

The surge in chronic diseases is anticipated to boost the portable medical devices market in the future. Chronic diseases are typically characterized as ailments which persist for twelve months or more, require ongoing medical care, and hinder daily activities. Portable medical devices aid individuals with chronic conditions by monitoring health-related issues, including physiological conditions in post-acute, rehabilitation, and chronic situations. For instance, the National Library of Medicine, a US-based institution, stated in January 2023 that the population of Americans aged 50 and above with a minimum of one chronic ailment would witness a 99.5% rise, from 71.522 million in 2020 to 142.66 million by 2050. Thus, the rising occurrence of chronic diseases propels the growth of the portable medical devices market.

What are the 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

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Which leading companies are shaping the growth of 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 key trends are currently impacting the portable medical devices market’s development?

Technology advancements have become a noteworthy trend in the portable medical devices market that is being increasingly adopted by leading companies to maintain their market position. For example, in November 2022, the Netherlands-based multinational corporation, Philips, introduced the Compact 5000 series, a fresh take on a compact portable ultrasound solution. This trailblazing system is equipped with Philips’ collaboration live secure real-time telemedicine software, which allows access to extra clinical expertise via assured voice, text, screen sharing, and video streaming from any location with mobile or internet connectivity. The purpose of this system is to enhance accessibility to diagnostic features found in high-end cart-based ultrasound machines. The Ultrasound Compact 5000 Series comes with an optional battery providing 2.5 hours of scanning time and it powers up 20% quicker. The system is designed to serve various medical fields such as cardiovascular, obstetrics and gynecology, point-of-care, and general imaging.

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Which geographic areas 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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