Global Portable Medical Electronic Products Market Size, Trends, and Analysis- Forecasts To 2026 By Equipment (Respiratory Products, Heart Monitors, Pulse Oximeter, Blood Pressure Monitors, Medical Imaging, Others), By End-User (Hospitals, Nursing Homes, Physicians’ Offices, Homecare Patient, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Portable medical electronic products are used in the public health care industries to handle, observe and control medical health conditions. They are not confined only to hospitals but can be used in schools, workplaces, homes for ensuring finer healthcare monitoring. Factors like better patient potency, finer healthcare standards, the institution of home healthcare services, telemedicine facilities and nanotechnology, technological advancements, less power consumption, better data visualization, and ultrasound systems, personalized medicines, and rising aging population (population is going to reach 2.1 billion by 2050, a three-fold increase since 2011) are expected to increase demand for global portable medical electronic products market. Various factors that even hamper or restrict the growth of medical electronics products that need to be catered being; connectivity issues, increased lifestyle diseases, security concerns in wired as well as wireless devices, stringent government policies, and issues in the draft as well as compatibility.
The five different categories include heart monitors, respiratory products, medical imaging, pulse oximeter, blood pressure monitors, and others. The heart monitors category will account for the largest share over the estimated timeframe. This is due to improved user availability and usability of wireless monitoring devices for different healthcare purposes, rising occurrences of heart diseases, availability of diverse applications for emergencies in addition to the low price of devices.
Given the end-user domain, the market is split into Hospitals, Nursing Homes, Physicians’ Offices, Homecare Patients, among others. In 2020, thehomecare patients domain recorded the fastest growth in the market. The factors responsible for the growth are improved trends in miniaturization, the advancement of technology, cost-effectiveness, and safety in the handling of devices along with huge investments in infrastructure.
The North American region held the dominant position in terms of revenue generation. This is attributed to the greater popularity of homecare patient settings, welfare initiatives by the government, modern healthcare infrastructure, and huge healthcare investments coupled with upgraded reimbursement policies in the region. However, due to increasing patient awareness, higher disposable income, and availability of a large number of opportunities for wireless portable medical devices, the Asia Pacific region will grow fastest.
CareFusion, Roche Diagnostics, Abbott Laboratories,GE Healthcare, Renesas Electronics Corporation, Maxim Integrated, Philips Healthcare, Johnson & Johnson, Arkray, B. Braun Melsungen, Omron Healthcare, IncBayer AG, Contec Medical, Resound, Mindray, Nipro Diagnostics, Medtronic, Panasonic, Siemens, among others, are the major pharmaceutical companies competing in the portable medical electronics market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Portable Medical Electronic Products Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Portable Medical Electronic Products Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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