The portable medical devices market is estimated to grow at a CAGR of 8.78% to reach US$71.355 billion in 2028 from US$39.591 billion in 2021.

NOIDA, UTTAR PRADESH, INDIA, August 11, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the portable medical devices market is projected to grow at a CAGR of 8.78% between 2023 and 2028 to reach US$71.355 billion by 2028.

The prime factors propelling the portable medical devices market growth include the advancements in miniaturization and wireless technologies, increasing prevalence of chronic diseases, rising aging population, growing demand for home healthcare and remote monitoring, technological innovations enhancing portability and ease of use, expanding telemedicine and telehealth services, regulatory support for portable medical devices, rising awareness about personal health and fitness, and the need for early diagnosis and preventive care.

Portable medical devices are compact, lightweight, and technologically advanced instruments designed to diagnose, monitor, or treat various medical conditions, often outside traditional healthcare settings. These devices enable individuals to have greater control over their health by providing real-time data, facilitating remote monitoring, and offering convenient solutions for medical diagnostics, digital therapeutics, fitness tracking, and wellness management.

The market is witnessing multiple collaborations and technological advancements, for instance in June 2022 GE Healthcare launched Portrait Mobile, a wireless patient monitoring system designed to aid clinicians in detecting early patient deterioration and continuously monitoring health during hospital stays. Developed with patient-worn wireless sensors, the device captures vital signs such as respiration rate, oxygen saturation, and pulse rate, enabling timely interventions.

Access sample report or view details:
https://www.knowledge-sourcing.com/report/portable-medical-devices-market

Based on components, the portable medical devices market is segmented as sensors, microprocessors/microcontrollers, and ICs. Among these the sensors segment is witnessing substantial growth, primarily because of their pivotal role in collecting accurate and real-time patient data, enabling precise diagnostics and personalized treatment plans. As healthcare continues to shift towards proactive and patient-centric approaches, the demand for portable medical devices with advanced sensor capabilities is on the rise, driving significant growth in this segment of the market.

Based on application, the portable medical devices market is divided into medical therapeutics, fitness and wellness, diagnosis, and monitoring. Among the segments, the diagnosis and monitoring category is experiencing significant growth. This surge is attributed to the rising awareness about early detection and preventive healthcare measures. As individuals increasingly prioritize proactive health management, portable devices that enable accurate diagnosis and continuous monitoring have become pivotal in facilitating timely interventions and personalized treatment plans, thus propelling notable growth in this specific application segment of the portable medical devices market.

Based on geography, the Asia-Pacific region is anticipated to dominate the portable medical devices market owing to a combination of factors. Rapid economic growth, increasing healthcare awareness, and a large population base with rising chronic diseases contribute to the region's significant demand for portable medical solutions. Additionally, advancements in technology, expanding access to healthcare services, and growing adoption of telemedicine further drive the market's growth in the Asia-Pacific making it a key contender for market dominance.

As a part of the portable medical devices market report, the major players that have been covered include Texas Instruments, Renesas Electronics Corporation, On Semiconductor Corporation, Medtronic, Infineon Technologies, NXP Semiconductor, Analog Devices, GE Healthcare, Maxim Integrated, Omron Healthcare among others.

The analytics report segments the portable medical devices market as follows:

• By Component

o Sensors
o Microprocessors/Microcontrollers
o IC's

• By Application

o Medical Therapeutics
o Fitness and Wellness
o Diagnosis
o Monitoring

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• UK
• Others

o Middle East & Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Explore more Reports:

• Portable Oxygen Concentrator Market: https://www.knowledge-sourcing.com/report/portable-oxygen-concentrator-market

• Medical Tape Market: https://www.knowledge-sourcing.com/report/medical-tape-market

• Medical Aesthetic Devices Market: https://www.knowledge-sourcing.com/report/medical-aesthetic-devices-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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