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Global Portable Medical and Healthcare Devices Market Size: By Type: Medical Monitoring Devices, Wearable Health and Fitness Devices; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Portable Medical and Healthcare Devices Market Outlook
The global portable medical and healthcare devices market stood at a value of USD 73.45 billion in 2023. The market is projected to witness a CAGR of 17.2% over the forecast period of 2024-2032 to reach a value of USD 190.38 billion by 2032.
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Based on the type, the medical monitoring devices segment accounted for the majority of the market share in 2020. The segment growth is attributed to the technological advancements such as compact design and mobility, new product approvals, and increasing demand from healthcare centres. Also, the wearable health and fitness devices are expected to register the fastest CAGR over the forecast period, owing to the rising demand for smart wristbands that leads to continuous health monitoring.
Regionally, the United States holds the leading position in the market in 2020, accounting for the majority of the total market share. The rise in disposable income, well-established healthcare infrastructure, and a high prevalence of cardiac disease are expected to fuel the demand for the market in the country.
Properties and Applications
Portable medical and healthcare devices are wireless communication interfaces that consume less power, cost-effective, and have long battery life. These devices are designed to offer a sophisticated user interface among patients. The growing trend of miniaturisation and the rising health awareness have led to a lucrative growth of the market.
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The major types of the products in the market are:
- Medical Monitoring Devices
- Vital Signs Monitoring Devices
- Cardiac Monitoring Devices
- Respiratory Monitoring Devices
- Wearable BP Monitors
- Pulse Oximetry Devices
- Foetal Monitoring Devices
- Neuromonitoring Devices
- Blood Glucose Monitoring Devices
- Anaesthesia Monitoring Devices
- Wearable Health and Fitness Devices
- Smart Wrist-Wearables
- Smart Garments
- Chest Straps
The EMR report looks into the major regions for portable medical and healthcare devices like North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific.
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Market Analysis
A significant growth in the geriatric population and the rising demand for wearable activity trackers are the prime factors attributing to the market growth. Moreover, increasing research and development (R&D), and technological advancements are further expected to influence the market growth during the forecast period. In addition, health-conscious users are widely utilising smart fitness wearable devices to monitor their heart rate and improve their overall health, which is further creating a positive outlook for the market. The portable medical and healthcare devices find their application in remote patient monitoring, which helps in reducing healthcare costs, which, in turn, is projected to drive the demand in the coming years. Additionally, wearables aid in evaluating the performance, physiological parameters, and body kinematics of athletes. Thus, increasing adoption among professional athletes is also expected to fuel the market growth. The rising number of product approvals and subsequent product launches is further anticipated to boost up the market growth over the years to come.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global portable medical and healthcare devices market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Koninklijke Philips N.V.
- Medtronic plc
- General Electric Company
- Abott
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Region |
| Breakup by Type | Medical Monitoring Devices, Wearable Health and Fitness Devices |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Koninklijke Philips N.V., Medtronic plc, General Electric Company, Abott, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Portable Medical and Healthcare Devices Market Analysis
8.1 Key Industry Highlights
8.2 Global Portable Medical and Healthcare Devices Historical Market (2018-2023)
8.3 Global Portable Medical and Healthcare Devices Market Forecast (2024-2032)
8.4 Global Portable Medical and Healthcare Devices Market by Type
8.4.1 Medical Monitoring Devices
8.4.1.1 Vital Signs Monitoring Devices
8.4.1.1.1 Cardiac Monitoring Devices
8.4.1.1.1.1 Historical Trend (2018-2023)
8.4.1.1.1.2 Forecast Trend (2024-2032)
8.4.1.1.2 Respiratory Monitoring Devices
8.4.1.1.2.1 Historical Trend (2018-2023)
8.4.1.1.2.2 Forecast Trend (2024-2032)
8.4.1.1.3 Wearable BP Monitors
8.4.1.1.3.1 Historical Trend (2018-2023)
8.4.1.1.3.2 Forecast Trend (2024-2032)
8.4.1.1.4 Pulse Oximetry Devices
8.4.1.1.4.1 Historical Trend (2018-2023)
8.4.1.1.4.2 Forecast Trend (2024-2032)
8.4.1.2 Foetal Monitoring Devices
8.4.1.2.1 Historical Trend (2018-2023)
8.4.1.2.2 Forecast Trend (2024-2032)
8.4.1.3 Neuromonitoring Devices
8.4.1.3.1 Historical Trend (2018-2023)
8.4.1.3.2 Forecast Trend (2024-2032)
8.4.1.4 Blood Glucose Monitoring Devices
8.4.1.4.1 Historical Trend (2018-2023)
8.4.1.4.2 Forecast Trend (2024-2032)
8.4.1.5 Anaesthesia Monitoring Devices
8.4.1.5.1 Historical Trend (2018-2023)
8.4.1.5.2 Forecast Trend (2024-2032)
8.4.2 Wearable Health and Fitness Devices
8.4.2.1 Smart Wrist-Wearables
8.4.2.1.1 Historical Trend (2018-2023)
8.4.2.1.2 Forecast Trend (2024-2032)
8.4.2.2 Smart Garments
8.4.2.2.1 Historical Trend (2018-2023)
8.4.2.2.2 Forecast Trend (2024-2032)
8.4.2.3 Chest Straps
8.4.2.3.1 Historical Trend (2018-2023)
8.4.2.3.2 Forecast Trend (2024-2032)
8.5 Global Portable Medical and Healthcare Devices Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Portable Medical and Healthcare Devices Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Portable Medical and Healthcare Devices Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Portable Medical and Healthcare Devices Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Portable Medical and Healthcare Devices Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Portable Medical and Healthcare Devices Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Koninklijke Philips N.V.,
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Financial Summary
16.2.1.5 Certifications
16.2.2 Medtronic plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Financial Summary
16.2.2.5 Certifications
16.2.3 General Electric Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Financial Summary
16.2.3.5 Certifications
16.2.4 Abott
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Financial Summary
16.2.4.5 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Portable Medical and Healthcare Devices Market: Key Industry Highlights, 2018 and 2032
2. Global Portable Medical and Healthcare Devices Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Portable Medical and Healthcare Devices Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Portable Medical and Healthcare Devices Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Portable Medical and Healthcare Devices Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Portable Medical and Healthcare Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Portable Medical and Healthcare Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Portable Medical and Healthcare Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Portable Medical and Healthcare Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Portable Medical and Healthcare Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Portable Medical and Healthcare Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Portable Medical and Healthcare Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Portable Medical and Healthcare Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Portable Medical and Healthcare Devices Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Portable Medical and Healthcare Devices Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Global Portable Medical and Healthcare Devices Market Structure
Key Questions Answered in the Report
In 2023, the global portable medical and healthcare devices market attained a value of nearly USD 73.45 billion.
The market is projected to grow at a CAGR of 17.2% between 2024 and 2032.
By 2028, the market is expected to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 190.38 billion.
The major drivers of the market are growing demand for convenient and portable medical devices, the increasing prevalence of lifestyle-related disorders, rising acceptance of technology, growing product demand from the developing regions, and growing technological advancements.
The key trends guiding the growth of the market include the growing research and development activities, new product launches and rising disposable incomes.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The medical monitoring devices including, vital signs monitoring devices, cardiac monitoring devices, respiratory monitoring devices, wearable BP monitors, pulse oximetry devices, foetel monitoring devices, neuromonitoring devices, blood glucose monitoring devices, anaesthesia monitoring devices, along with wearable health and fitness devices including, smart and wrist wearables, smart garments, and chest straps are the leading portable medical and healthcare device types available in the market.
The key players in the market are Koninklijke Philips N.V., Medtronic plc, General Electric Company, and Abott, among others.
Analyst Review
The global portable medical and healthcare devices market attained a value of USD 73.45 billion in 2023, driven by growing demand for convenient and wearable healthcare devices and rapid technological advancements. Aided by new product launches, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 17.2% to attain a value of USD 190.38 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the portable medical and healthcare devices industry can be segmented into medical monitoring devices and wearable health and fitness devices, with the medical monitoring devices segment accounting for the largest market share. The major regional markets for portable medical and healthcare devices are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Koninklijke Philips N.V., Medtronic plc, General Electric Company, and Abott, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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