PORTABLE MEDICAL ELECTRONIC PRODUCTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global portable medical electronic products market has been witnessing steady growth over the past few years. Portable medical electronic products refer to miniaturized handheld devices that are used for the diagnosis, monitoring, or treatment of medical conditions. Some of the key portable medical electronic products include blood pressure monitors, blood glucose monitors, weight scales, pulse oximeters, ECG/EKG monitors, and portable ultrasound scanners. Growing aging population, increasing prevalence of chronic diseases, technological advancements, and rising healthcare expenditure are some of the primary factors driving the demand for portable medical electronic products. Moreover, increasing preference for home healthcare and Remote Patient Monitoring (RPM) is further accelerating the adoption of these portable devices.
Market Dynamics:
Rising geriatric population and the subsequent increase in the prevalence of chronic diseases like diabetes, hypertension, and cardiovascular diseases are the major growth drivers for this market. As per estimates, by 2050, over 16% of the world's population will be aged 65 years and above. Elderly people tend to suffer more from chronic illnesses, thereby propelling the need for frequent health monitoring which can be easily done using portable medical devices. However, high costs of technologically advanced portable devices especially those with connectivity features may restrict their adoption in price sensitive developing regions. On the other hand, the emergence of low-cost point-of-care diagnostics presents significant opportunities for market expansion. Also, ongoing trend of digitalization and internet of things is enabling the integration of connectivity into portable medical devices, which is set to open up new avenues over the coming years.
Key Features of the Study:
- This report provides in-depth analysis of the global portable medical electronic products market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global portable medical electronic products market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Medtronic, GE Healthcare, Roche Diagnostics, Philips Healthcare, Omron Healthcare and Lifescan
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global portable medical electronic products market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Detailed Segmentation-
Detailed Segmentation-
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