Portable Medical Electronic Products Market to Reach US$ 97.86 Billion, at a Revenue CAGR of 10.34%, During the Forecast Period 2023 to 2031, According to Growth Plus Reports
Growth Plus Reports
6 min read
Growth Plus Reports
Newark, New Castle, USA, May 01, 2023 (GLOBE NEWSWIRE) -- As per the latest study by Growth Plus Reports, the global portable medical electronic products market was valued at US$ 39.86 billion in 2022 and is expected to reach US$ 97.86 billion, registering a revenue CAGR of 10.34% by 2031.
The global portable electronic medical products market was assessed and is expected to continue to expand with a sizable revenue share during the forecast period. Electronics intended for use in the medical field are portable, lightweight, and simple to use. They are employed in several medical procedures, such as disease diagnosis, condition monitoring, and treatment.
Recent Development in Portable Medical Electronic Products Market:
In October 2022, A partnership agreement was inked by Novo Nordisk and ALCOR, a French company specializing in design, development, and manufacture of new medical devices, for the initial marketing of Mallya in Japan. The new agreement enhances the cooperation between Novo Nordisk and BIOCORP on the Mallya product development.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Key Takeaways:
The rising demand for healthcare solutions and portable medical electronic products is also becoming popular.
Technological advancements in healthcare products are also driving global market revenue.
The rising prevalence of chronic disease is propelling the market revenue share.
Market Drivers and Restraints:
The market revenue for portable medical devices is expected to grow quickly because of the rising demand for wearable electronics and portable medical equipment, greater technical breakthroughs, and an increase in elderly people. Increased usage of portable devices due to technical developments in portable medical equipment will fuel market revenue expansion.
However, the high cost of these products is making them unaffordable for most of the population, limiting the market revenue growth.
Market Segmentation:
Segmentation By Equipment
Based on the equipment, the global portable medical electronic products market is segmented into cardiac monitors, respiratory monitors, pulse oximeters, ultrasound medical imaging, heart monitors, and blood pressure monitors. The blood pressure monitors segment accounts because of their large popularity, easy-to-use, reliability, and user-friendliness.
Segmentation By End User
Based on the end-user, the global portable medical electronic products market is segmented into hospitals, home care settings, nursing homes, and others. The hospital segment accounts for the largest revenue share in the global market. This large revenue share is attributed to the accurate and efficient patient care provided by these devices, cost-effective solution providing better patient outcomes.
Regional Growth Dynamics
Based on the region, the global portable medical electronic products market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounts for the largest revenue share in the global market due to the presence of key market players, the rising prevalence of chronic disease, and the fast adoption of technology.
Prominent players operating in the global portable medical electronic products market are:
Medtronic plc
GE Healthcare
Abbott Laboratories Inc.
Koninklijke Philips N.V.
Becton, Dickinson, and Company
Report Coverage
The study examines the fundamental market characteristics, important investment areas, analytics of regional growth, revenue prediction, prominent market players, and partnerships. The report also thoroughly analyzes the market for portable medical electronic products globally.
Table of Content
INTRODUCTION
Market Ecosystem
Timeline Under Consideration
Historical Years – 2021
Base Year – 2022
Forecast Years – 2023 to 2031
Currency Used in the Report
RESEARCH METHODOLOGY
Research Approach
Data Collection Methodology
Data Sources
Secondary Sources
Primary Sources
Market Estimation Approach
Bottom Up
Top Down
Market Forecasting Model
Limitations and Assumptions
PREMIUM INSIGHTS
Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2022)
Regulatory Landscape
Reimbursements
MARKET DYNAMICS
Drivers
Restraints/Challenges
Opportunities
GLOBAL PORTABLE MEDICAL ELECTRONIC PRODUCTS MARKET - ANALYSIS & FORECAST, BY EQUIPMENT
Cardiac Monitors
Respiratory Monitors
Pulse Oximeters
Ultrasound Medical Imaging
Heart Monitors
Blood Pressure Monitors
Others
GLOBAL PORTABLE MEDICAL ELECTRONIC PRODUCTS MARKET - ANALYSIS & FORECAST, BY END USER
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About Us:
Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.
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