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Portable Medical Devices Market Size
- Report ID: GMI8411
- Published Date: Mar 2024
- Report Format: PDF
Portable Medical Devices Market Size
Portable Medical Devices Market was valued at around USD 62.2 billion in 2023 and is expected to grow at a CAGR of 9.8% between 2024 & 2032, driven by the rising prevalence of chronic conditions, the expansion of wearable health technology, and the increasing demand for portable medical devices in home healthcare.
The global increase in chronic conditions, such as diabetes, cardiovascular diseases, respiratory disorders, and obesity, has spurred the demand for portable medical devices. For instance, according to Imperial College of London, in 2020, chronic diseases were estimated to kill almost 41 million people a year worldwide, making up seven out of ten deaths globally.
With aging populations, changing lifestyles, and environmental factors contributing to the rise in chronic illnesses worldwide, there is a growing need for innovative solutions to support disease management and improve patient outcomes. Portable medical devices offer convenient and accessible tools for monitoring vital signs, tracking disease progression, and promoting self-care among individuals living with chronic conditions, addressing the evolving healthcare needs of populations globally.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Portable Medical Devices Market Size in 2023: | USD 62.2 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 9.8% |
| 2032 Value Projection: | USD 142.1 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 330 |
| Tables, Charts & Figures: | 755 |
| Segments covered: | Product Type, Application, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Moreover, portable medical devices empower patients to actively participate in their care and adhere to treatment regimens by providing them with accessible tools for monitoring and managing their health. By incorporating portable devices into daily routines, patients are more likely to engage with their care plans, comply with medication schedules, and make lifestyle modifications, leading to better disease control and outcomes and the expansion of the portable medical devices market.
Portable medical devices are compact and lightweight healthcare instruments or equipment designed to be easily transported and used in various settings, including clinical environments, ambulances, homes, and remote locations. These devices offer flexibility, convenience, and accessibility, allowing healthcare professionals to provide timely care and patients to manage their health conditions more effectively, irrespective of their location.
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Portable Medical Devices Market Scope
