Global Portable Medical Electronic Devices Market is expected to grow at a CARG of 12.2% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Portable Medical Electronic Devices market by End-user(Home patient settings, Physician Offices, Nursing Homes, Hospitals, Others), Equipment (Heart Monitors, Blood Pressure Monitors, Respiratory Products, Pulse Oximeter, Ultrasound Medical Imaging, Others), Application (Urology, Respiratory, Gynecology, GI, Neurology, Orthopedics, Cardiology, others), region, global industry analysis, market size, share, growth, trends, and forecast 2020 to 2027.
The global portable Medical Electronic Devices market is expected to grow from USD 27.7 billion in 2019 to USD 31.3 billion by 2027, at a CARG of 12.2% during the forecast period 2020-2027. North America has the largest share in the portable medical electronics products market due to rising geriatric population base and increasing prevalence of chronic diseases. Also, with rising popularity of homecare patient settings, advanced healthcare infrastructure and high disposable income contributes to the market growth of this region. Additionally, the rising number of high healthcare awareness and mergers and acquisition also induces the market growth.
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The key players of this market are GE Healthcare, Abbott Laboratories, Renesas Electronics Corp., Omron Healthcare, CareFusion Corp., Roche Diagnosis, Maxim Integrated, Philips Healthcare.
Omron healthcare launched new electrotherapy device HV-F013 to improve muscle pain. As many people all over the world face severe muscle pain or body pain on weekly basic.
Also, Omron healthcare partners with Metro Drug and expands its distribution network.
The end-user segment includes home patient settings, physician offices, nursing homes, hospitals, others. Home patient setting has the highest share. The equipment segment includes heart monitors. Blood pressure monitors, respiratory products, pulse oximeter, Ultrasound medical imaging, others. Ultrasound medical imaging has the largest share as miniaturization facilitates the physicians to use these products in remote areas and that fuel up the growth of this market. The application segment includes urology, respiratory, gynecology, GI, neurology, orthopaedics, cardiology, others. Cardiology has the largest market revenue and gynecology is expected to witness growth over the forecasted year.
With rising number of emergency medical services like helicopters and ambulances which requires to be well equipped, aging population and military medicine for on-field application is the major driver of the market. Also, increasing technological advancement and rising demand for diagnostics in remote areas, where a good number of population resides are also the major drivers of the market.
The market of portable medical electronic devices can be hampered by connectivity problems and security concerns in the device.
About the report:
The global portable Medical Electronic Devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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