Portable Medical Equipment Market Size to Grow by $ 23.46 bn through 2021-2025
Technavio research projects the portable medical equipment market to grow by $ 23.46 bn, accelerating at a CAGR of over 10% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Portable Medical Equipment Market: Key Market Driver
One of the primary factors that will trigger the growth of the portable medical equipment market size is Rise in demand for portable medical devices. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Portable Medical Equipment Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Carestream Health Inc., General Electric Co., Koninklijke Philips NV, Medtronic Plc, OMRON Corp., Samsung Electronics Co. Ltd., Siemens AG, Sonova Holding AG, and Tandem Diabetes Care Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The portable medical equipment market size has the potential to grow by USD 23.46 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.43%.
This report provides a detailed analysis of the market by product (portable patient monitoring devices, portable medical imaging devices, and others), geography (North America, Europe, Asia, and ROW), and key vendors.
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Portable Medical Equipment Market: Segmentation by Product
During 2019, the portable patient monitoring segment dominated the Global Portable Medical Equipment Market in 2020. Blood glucose monitors contributed to over 80% of the portable patient monitoring devices market due to the high prevalence of diabetes in both developed and developing countries, favorable reimbursement policies, and the availability of advanced products. The portable medical equipment market share growth by the portable patient monitoring devices segment will be faster than the other segments during the forecast period.
The recent years witnessed an increase in the occurrence of chronic diseases including CVDs, diabetes, COPDs, ESRDs, and urology disorders. The rise in incidences of chronic diseases is one of the primary growth factors for the portable medical equipment market. The treatment of chronic diseases requires portable medical devices to monitor the severity of the patient's medical condition on a daily basis, which will subsequently drive the growth of the market in the coming years.
Portable Medical Equipment Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Abbott Laboratories, Carestream Health Inc., General Electric Co., Koninklijke Philips NV, Medtronic Plc, OMRON Corp., Samsung Electronics Co. Ltd., Siemens AG, Sonova Holding AG, and Tandem Diabetes Care Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
